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.
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
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
The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose marginally on Thursday as steady demand for smaller vessels offset weaker rates across capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose by one point, or 0.15 percent to 670 points. The supramax index rose 8 points to 551 points, and the handysize index was up 6 points at 348 points
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
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
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
Upward moves in the Capesize index are now starting to stall, according to Freight Investor Services (FIS). "Last week we witnessed some short covering in the market which was supported by the technical picture, and this appears to be now drawing to a close," says FIS. The Capesize Index has since started to stall with prices now moving lower, the index seems to be finding resistance at the upper Bollinger band
Many vessels available for charter put pressure on freight rates. Freight rates for large capesize dry cargo ships on key Asian routes are set to slide next week as the number of ships available for charter outpaced cargo demand, ship brokers said on Thursday.
The first batches of oil from the giant Kashagan oil field in Kazakhstan were shipped for export on Friday via two pipelines, the Central Asian nation's Energy Ministry said. Energy majors developing the field have shipped 7,700 tonnes of oil through the private CPC pipeline and 18
Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes
In the containership market today, Panamax sector, the charter rates rest at rock-bottom rates and the fleet is in steady and perhaps terminal decline, with scrapping at record levels. Is the battle now lost? A report by Clarksons Research.
The largest container vessels are designed for the greatest possible efficiency – maximum intake, minimum fuel consumption. Their smaller cousins, however, have not received the same level of attention – but this is beginning to change, says Jai Oh Sun, Engineer / Pre-Contract
Depressed dry bulk market conditions have put severe financial pressure on owners in recent times, triggering a slump in bulkcarrier contracting, observes Clarksons Research. This has helped drive a significant contraction in the bulkcarrier orderbook
Capesize rates slip from year-long highs as miners absent; owners still optimistic of Q4 rate bounce. Freight rates for large capesize dry cargo shippers on key Asian routes, which hit the highest in about a year last Thursday, are set to remain buoyant during China's week-long National Day
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through two separate wholly-owned subsidiaries, it signed two addenda with China Shipbuilding Trading Company
A new coal carrier Noshiro Maru was delivered on September 30 at Oshima Shipbuilding Co. Ltd. in Saikai city, Nagasaki prefecture. A delivery and naming ceremony was held at the shipyard on the same day and attended by Makoto Kaiwa, chairman of Tohoku Electric Power; his wife; and NYK Chairman
Robust Asian demand for West African crude is fueling a worldwide surge in shipping rates for the largest oil tankers that is being felt from Houston to Singapore. Chartering rates for Suezmaxes and very large crude carriers (VLCCs) have recovered rapidly in recent weeks after plunging to their
Owners seeking to push rates higher, close to year-long highs; dry bulk sector to see greater consolidation - BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain steady next week even as owners try to push rates up close to year-highs
Asian liquefied natural gas (LNG) gas prices reached a nine-month high this week as demand from India, Japan and South Korea underpinned sentiment, reports Reuters. LNG for November delivery were about $6.20 per million British thermal units (mmBtu), 10 cents higher than last week
Buys VLCC to store gasoil in Mediterranean. Hong Kong-based trader Winson Oil has bought a very large crude carrier (VLCC) to store oil in the Mediterranean as it pushes to expand its business in Europe, two company sources said. The step could boost Asian gasoil margins if the firm enters
Liebherr Maritime Crane has delivered the largest mobile harbor crane of the Caribbean to Kingston Wharves Limited in Jamaica. The LHM 600 is equipped with an elongated tower extension and eases the handling of big container vessels up to Super-Post-Panamax size.
As Western firms wait to for Arctic shipping to show its worth, Asian countries are already betting on the emergence of an Arctic economic rim, reports The Arctic Journal. For centuries, a harsh climate and ice-choked seas dashed the dreams of sailors attempting to cross the