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Asian Panamax

Asian Panamax Rates Rebound

Asian Panamax freight rates for dry bulk cargo bounced back this week and shipping agents said a recovery would become more evident with the start of South American export seasons in March. "Chartering activity is much more active than last week and we saw a substantial number of fixtures this week," said an executive at a shipping firm which operates Panamax-class business. For the benchmark U.S. Gulf to Japan route, freight rates were quoted higher on Friday at $21.775 per ton against $21.164 one week earlier, while freight rates in the Pacific were at $16.986 compared to $16.614. Brokers attributed the pullback in freight rates partly to ship owners raising prices on expectations of brisk cargo demand later in March when South American farmers began to export their crops. Persistent vessel demand for coal or iron ore shipments from Australia or Indonesia to northeastern Asian nations also offered support to the freight market, brokers said. Despite an expected arrival of a large number of newly-built vessels beginning from March or April, brokers said growing demand from South America would help offset the negative factor. One domestic shipbroker optimistically forecast that freight rates for the U.S. Gulf to Japan route could rise to as high as $24-25 with the Pacific route firming to a peak of $18-19.


Asian Panamax Rates Edge Higher

Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker


Asian Panamax Rates Move Down Slightly

Asian Panamax freight rates for dry bulk cargo market edged lower this week on slowing demand and brokers said on Friday a recovery was likely to come only in mid-March with the start of the South American export season. For the benchmark U.S. Gulf to Japan route, freight rates were quoted lower at US$21.42 per ton compared to $22.19 one week ago, while spot freight rates for the U.S. Pacific route were quoted at US$16.83 per ton, down from $17.28.


Chinese Shipyards Deliver Bulk Carriers

COSCO Corporation announce delivery of Capesize, Panamax bulk ships from Dalian & Zhoushan shipyards COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd has delivered a  Capesize bulk carrier of 92,500 dwt, Ocean Emerald, to its Asian buyer. The delivery documents have been signed by COSCO Dalian and the buyer . The bulk carrier measures 229.165 meters in LOA, 37.996 meters in breadth and 20


Dry Bulk Panamax's Face Uncertain Future

Sub-Capesize sectors, previously better performers than Capes, now face an equally uncertain future according to recent Drewry analysis. Demand for Panamax ships improved over the 2nd quarter 2012, primarily due to an increase in grain volumes and Asian coal imports. Significant increases in vessel demand on the transatlantic grain route employed a sizeable fleet of Panamax vessels, leading to an improvement in earnings


Year of the C-Dragon

GLGRoup_C-Dragon WEB.jpg

With an eye on the growing Intra-Asian trade routes Germanischer Lloyd (GL) developed a novel container vessel design concept: the C-Dragon. C-Dragon measures 211.9m in length between perpendiculars and 37.3m wide, with a loading capacity of 3,736 TEU. The concept targets the actual condition with short roundtrips and many port calls and is designed to outperform cascading older tonnage in terms of fuel efficiency, port turnaround and cargo intake


Panamax Rates Leap

Limited availability of spot Panamax tonnage in the Pacific is driving freight rates higher and partially offsetting heavy losses seen on Atlantic routes, shipbrokers said. A scarcity of modern tonnage in the north Pacific area had even turned recent losses on individual routes within the Baltic Panamax Index into gains, they said. The Index fell by just four points on Monday to 1,268. But shipbrokers warned that the stabilizing effect might well prove to be short-lived


Panamax Rates Expected to Improve

Panamax freight rates are expected to improve this week, although the Baltic Panamax Index rose just one point to 1,626 on March 12. Shipbrokers said Panamax freight rate movement for voyage charters has been tentatively positive recently, and while some timecharter rates have been marginally negative compared with previously done levels, the Panamax sector seems to be stabilizing ahead of an upward move. The only cause for concern was the decline in the Capesize sector


House Hearing on Asian Carp, Great Lakes

The Subcommittee on Water Resources and Environment of the House Committee on Transportation and Infrastructure conducted a hearing on Asian carp and the Great Lakes. In his statement, Representative James Oberstar (D-MN) discussed the threat posed by the Asian carp to the Great Lakes ecosystem. Cameron Davis, Senior Advisor, Environmental Protection Agency (EPA), testified concerning EPA’s role in the process and the draft Asian Carp Control Strategy Framework


Navios Europe Takes Delivery of Four Additional Vessels

Navios Europe Inc. announced  that it has taken delivery of four additional vessels out of the ten vessel acquisition from HSH Nordbank AG (HSH). Including these four vessels, Navios Europe has taken delivery of nine vessels in total. The remaining vessel is expected to be delivered by the end of 2013. Fleet Exhibit   Tankers   Vessel      Vessel Type      Built      DWT


Sri Lanka Says No to Docking of Chinese Submarines

Image: The Directorate General of Merchant Shipping

 Sri Lanka declared that it will not allow Chinese submarines to dock in its waters as part of a new policy barring hosting of foreign submarines.   Sri Lanka's new Foreign Minister Mangala Samaraweera said on Saturday in Beijing that the new government in Colombo will not allow a


ADB Okays $30mln for Pak LNG Terminal

Image: Port Qasim

 The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s first liquefied natural gas (LNG) regasification terminal at the Port Qasim.  


Two Newbuilds Delivered to Star Bulk

Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. (NACKS). The new vessels are the first two of four similar vessels ordered at NACKS


First Ship to Load Soy at Tegram Bound for China

The first ship to load soybeans from the new Tegram terminal in the northeastern port of Ponta Madeira in Sao Luis, Brazil, will berth on March 10, local shipping agents Cargonave said on Tuesday.   The Panamax class vessel Scythia Graeca will haul 66,000 tonnes of soybeans for U.S


Baltic Index Edges Higher on Capesize Gains

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for the second consecutive day on Friday on higher rates for capesizes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement


India to Make Cruise Tourism Sail

Image by Department of Tourism, Government of Kerala

 With its vast and beautiful coastline, virgin forests and undisturbed idyllic islands, rich historical and cultural heritage, India may get some fillip in cruise tourism in the months to come.   A report in Business Standard says that a high-level meeting of the Bureau of Immigration


Manila Ports Back at Optimum Utilization

Photo:  Philippine Ports Authority (PPA)

 Philippine Ports Authority (PPA) stated that utilization rate at the port of Manila is back to normal after the disruption of operations during the visit of Pope Francis to the country last month.   The state-run PPA said in a statement that container yard utilization and vessel


Softer Panamax Rates Drag Down Baltic Index Slightly

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged down slightly on Monday as rates for panamax vessels fell. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser


S. Korea's Daebo Int. is 3rd Dry-Bulk Shipper to File for Bankruptcy This Month

A third dry cargo shipper has filed for bankruptcy this month following a collapse in freight rates to historic lows in what shippers call the worst market conditions since the 1980s. South Korea's Daebo International Shipping Co Ltd filed a court receivership, a form of corporate bankruptcy


Korean Shipper Files for Bankruptcy

 Korea’s dry bulk shipping company Daebo International Shipping has reportedly filed an application for rehabilitation proceedings with a court in South Korea.   Daebo is the third dry bulk shipping company to file for bankruptcy protection this month following China’s


Need for New Maritime Organization in Asia

Image: Center for International Maritime Security

 There are calls for a new institution to manage Asia’s maritime disputes - a proposal for Maritime Organization for Security and Cooperation (AMOSC) is in the offing.    Last year (2014) brought new tensions to the South China Sea


Asia: LPG Shipping and LNG Pricing

Image: Navigator Gas

 While declining Asian LNG prices have reduced margins on the long-distance LNG trade, causing spot-charter rates for LNG vessels to fall, LPG shipping earnings are forecast to remain buoyant on the back of low oil prices and the absence of fuel substitution.  


Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather and Brazilian demand leave tankers torn over where to sail. The region's gas markets


RoRo Ship Enters Operation for WWL

M/V Thermopylae

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels. Measuring in at 36.5 m wide and 199.99 m long the Thermopylae provides the right capacity and fulfils WWL’s frontrunner


Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia. Litgas said on Friday it had signed a memorandum of understanding (MOU) with Delfin LNG






 
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