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 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 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.
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
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
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
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
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
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
According to Braemar, 2011 is already a record year for dry bulk carrier demolition. In Jan-May 2011, 13.6m Dwt of bulkers have been scrapped, including 7.1m Dwt of Capesize (over 120k Dwt) bulkers. If scrapping continues at this pace for the balance of 2011, it could reach 32.6m Dwt, more than three times the previous record set in 2009. Demolition has previously peaked in years of credit crunches: In 2009, 11.7m Dwt of bulkers were scrapped following the global credit crunch
Ignoring industry leaders and human rights and environmental organizations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches in 2015, according to new data released today by the NGO Shipbreaking Platform.
The worst dumper prize goes to IDAN OFER, son of shipping magnate Sammy Ofer. Idan Ofer owns QUANTUM PACIFIC GROUP and has a controlling stake in Israel’s largest publicly traded company, ISRAEL CORPORATION. Combined
Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped below 300 points on Thursday, to an all-time low. The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser
Western Australia-China rates hit near 17-year low; owners explore laying-up ships. Freight rates for capesize bulk carriers on key Asian routes should remain flat next week as the Lunar New Year holiday in China will curtail chartering activity, shipbrokers said on Thursday.
Greek dry bulk shipping company Diana Shipping has entered into a time charter agreement with Geneva-based SwissMarine Services S.A. for its Capesize dry bulker the m/v Houston. The gross charter rate is US$5,150 per day, minus a 5% commission paid to third parties
Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, continued its fall to close at a fresh record low on Friday. The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser
Chinese iron ore and coal imports to fall in 2016 - Clarkson Freight rates for capesize bulk carriers on key Asian routes are likely to stay flat as vessel volumes outpace cargo demand and the approaching Chinese New Year holiday further dampens chartering activity, ship brokers said on Thursday
The dust has now settled on the brief rally and subsequent dramatic downturn of the containership charter market in 2015, says Clarksons Research. After a good few years in the doldrums, last year saw some fairly animated movements in boxship charter rates
On January 15, a new coal carrier, Shin Sekiyo, was delivered at Oshima Shipbuilding Co. Ltd. (Saikai city, Nagasaki prefecture). A delivery and naming ceremony was held at the shipyard on the same day and attended by NYK chairman Yasumi Kudo and representatives from Chugoku Electric Power Co. Inc
Ports America, the largest stevedore and terminal operating company in the United States, is refocusing its business strategies on the West Coast through additional investments and expansion of services into new terminals. Areas of concentration include Los Angeles, Long Beach
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, continued its freefall to close at a record low on Tuesday amid concerns over vessel oversupply and global demand shortage.
In contrast to the carnage in crude oil markets, liquefied natural gas (LNG) prices in Asia have enjoyed relative stability for the past three months, but it's unlikely the calm will persist much longer. Spot Asian LNG prices <LNG-AS> ended last week at $5
Containership owners have experienced some tough times in recent years, and early in 2015 it looked as if things might at last be on the up, says Clarksons Research. However, last year proved to be the classic ‘game of two halves’