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Capesize Rates

Capesize Holds Steady, Panamax Drops

Capesize rates remained very steady worldwide, but panamax rates were weaker in the Atlantic, brokers said. There were unconfirmed reports that Navix had fixed Belmaj 149,000 dwt delivery Indonesia end-March for a trip via Australia to Japan at $29,000 daily. Cargill booked Bottiglieri tonnage for 54,000 tons heavy grain U.S. Gulf/Japan for end-March at $21.75, having previously failed on subjects with the Bottiglieri re-let Darya Geeth at $22. Brokers said South America was still relatively inactive with few signs yet of firmer rates for panamaxes or handysizes. The Baltic Dry Index (BDI) shed five points to 1,640, the Baltic Panamax Index fell 22 to 1,573, the Baltic Handy Index slipped one to 1,109 but the Baltic Capesize Index rose six points to 2,247.


Panamax Rates Hold Firm

Asia's Panamax rates for dry bulk cargo are expected to remain firm this week on strong vessel demand for grain and mineral exports and support from a rebound in Capesize, traders said. "Panamax freight rates are holding firm this week," said a shipping trader in Seoul. "The rates are a bit firmer than we expected ahead of the slow summer season." Active grain and oilseed exports from South America were providing support to the Panamax market


SS&Y Capesize Indices

SS&Y Pacific Capesize Index Plummets 243 Points Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 243 points to 5,259 in the week ending May 8. "The Pacific Capesize index fell after the holidays in the Far East, with early vessels becoming the victims of a lack of inquiry," SS&Y said. "A $1 fall on the Queensland/Rotterdam route (120/150,000 ton cargo) was certainly not going to help the index, which witnessed its first serious decline since January," SS&Y added.


Baltic Sea Freight Index Down Again

The Baltic Exchange main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday for a 12th straight session on weak rates for capesize vessels. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 37 points, or 3.37 percent, to 1,061. The Baltic's capesize index fell 83 points, or 4.09 percent, to 1,946 points.


Freight Rates Dip For First Time This Month

The Baltic indices indicated perhaps some changing conditions in the dry cargo market, with the Baltic Capesize Index falling for the first time this month on evidence of weaker conditions in the Far east and South Africa. The panamax index, however, took up the forward running on the basis of firmer rates conceded by charterers in the north Atlantic and the Pacific, they added. The Baltic Freight Index (BFI) rose nine points to 1,406, the Baltic Panamax Index gained 15 points to 1,350


Dry Bulk Trends

Little Change Seen In Dry Cargo Market The dry cargo freight market was generally little changed last week, with Capesize conditions remaining basically steady but quiet, brokers said. Panamax activity was brisk from South America, but rates failed to advance as rapidly as owners had hoped for, they added. However, some firmer rates were seen, with Cosco's fixture of a 1990-built 74,000 dwt vessel delivery north Brazil trip China at $11,500 daily plus a $250,000 ballast bonus.


OceanFreight Inc. New Charter

OceanFreight Inc. (NASDAQ: OCNF), a global provider of seaborne transportation services for both drybulk and energy commodities, announced a new charter for the recently acquired 180,000DWT, 2005 built capesize vessel. Upon delivery, the vessel will be renamed M/V Montecristo and will commence employment on a time charter for a minimum period of four years at a gross rate of $23,500 per day and a maximum of eight years at an average gross rate of $24,125 per day for the optional period.


Baltic Trading Take Delivery of Capesize, & Charter Out

Bulk carrier image CCL

Baltic Trading Limited has accepted delivery of the first of two new bulk carriers, 'Baltic Tiger', a 179,185 dwt Capesize vessel, and found a time charter for the vessel without delay. The Baltic Tiger delivered to its charterer, Swissmarine Services S.A., has commenced a spot market-related time charter for 10.5 to 13.5 months. The rate for the spot market-related time charter, which is subject to the completion of definitive documentation, is based on 102


Diana Shipping Takes Delivery of Capesize Bulk Carrier

Diana Shipping Inc. has taken delivery of the 180,235 dwt Capesize dry bulk carrier, to be renamed Aliki, built in 2005 by Imabari Shipbuilding Co., Saijo Shipyard. The agreement to purchase this vessel was originally announced on March 6, 2007. As previously announced, the Company has entered into a time charter contract with Cargill International S.A. for the Aliki for a minimum 46 to maximum 49 month period at an average rate of $48,500 per day


Baltic Index Slips with Falling Panamax Rates, Capesize Revives

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell further on Wednesday, dragged down by decreasing panamax rates.   The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, shed 6 points, or 0.76 percent, to 782 points.   The Baltic's capesize index inched up 2 points, or 0


VLCCF - 4Q & FY 2014 Results

Photo by Knightsbridge Shipping Limited

Knightsbridge Shipping Limited ( VLCCF ) reports net income of $5.2 million and earnings per share of $0.06 for the fourth quarter compared with a net loss of $6.2 million and a loss per share of $0.11 for the preceding quarter. Net income in the fourth quarter includes $6


“Jag Arjun” Delivered to Buyers

G E Shipping

  The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1996-built Capesize Dry Bulk Carrier “Jag Arjun” (164,796 dwt) to the buyers on 26th February, 2015. The company had contracted to sell the ship earlier this month.


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


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


Baltic Index Rebounds Slightly from Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged up slightly on Thursday on higher rates for panamaxes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain


Weak Vessel Demand Keeps Baltic Index at Record Lows

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, hit another record low on Wednesday as demand for vessels fell ahead of the Lunar New Year holiday. The overall index, which gauges the cost of shipping resources including iron ore, cement


Second Bulk Shipper Files for Bankruptcy

Photo: Winland Ocean Shipping Corp

Dozens of iron ore and coal carriers idled as Baltic dry index falls to all-time low. A second dry cargo shipper has filed for bankruptcy following a collapse in freight rates that has forced many companies to idle vessels used to haul iron ore


Great Eastern Shipping to Sell Large Cargo Ship

Picture: Great Eastern Shipping Company Ltd

 India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end.  "The vessel will be delivered to the buyers during the fourth quarter (January-March)


China Policy Change Opens Door for Vale Mega-Ships

A Valemax bulk ship at the dock in Japan (photo: Vale)

China has amended rules around ships it will allow to berth at mainland ports, paving the way for Brazilian miner Vale to ship iron ore in its giant 400,000 deadweight tons (DWT) carriers. Vale's mega ships, the world's biggest bulk ore carriers


Dry Bulk Shippers to Coordinate Chartering

Five dry bulk shipping firms, including shipping tycoon John Fredriksen's Golden Ocean will form a new venture to coordinate chartering services, hoping to reduce costs in a fragmented market, the firms said in a joint statement. The firms, including Golden Ocean, Bocimar International, CTM


Scorpio Bulkers Modifies Shipbuilding Contracts

Scorpio Bulkers Inc. has reached agreements with a shipyard in South Korea to modify existing newbuilding contracts for three Capesize Vessels, the company announced today.   The three contracts, two for vessels scheduled for delivery within the first quarter of 2016 and one for a vessel


Baltic Index Continues Slide as Rates Drop

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued its slide on Monday, hitting a new near-three decade low as rates for all four vessel segments fell.   The overall index, which factors in average daily earnings of capesize


Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three decades as rates for all the four vessel types continued to flounder.   The overall index


“Jag Vidhi” Delivered to Buyers

Jag Vidhi

  The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1990-built Very Large Gas Carrier “Jag Vidhi” (49,701 dwt) to the buyers on 21st January, 2015. The company had contracted to sell the ship in July 2014.


Japan Shipyard Orders Continue Decline

(Pic Source: JSEA)

 In December 2014, orders of Japan yard fell 37% year on year, says Japan Ship Exporters’ Association (JSEA). Japanese shipyards specialize in building dry bulk carriers.  JSEA member yards secured 24 export orders totaling 1,215






 
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