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Capesize Vessel

Baltic Index Hauled Down by Weak Capesize Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday, primarily due to weak demand for capesize vessels. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels fell 5 points, or 0.62 percent, to 804 points. The capesize index fell 20 points, or 1.29 percent, to 1,531 points. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $177 to $10,529. The panamax index rose 2 points, or 0.26 percent, to 770 points. Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, rose $12 to $6,168. Among smaller vessels, the handysize index dropped 1 point to 379 points and the supramax index fell 2 points to 664 points.   (Reporting by Nithin Prasad in Bengaluru)


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.


Genco Takes Delivery of First Capesize Vessel

Genco Shipping & Trading Limited announced that it has taken delivery of the Genco Augustus, a January 2007-built 180,000 dwt Capesize vessel. The Genco Augustus is the first vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capsize vessels from companies within the Metrostar Management Corporation group. The Genco Augustus is currently on charter with Cargill International


Golden Ocean Agrees Late Deliveries from Chinese Shipyard

Golden Ocean Group Limited agrees with Zhoushan Jinhaiwan Shipyard Co., on amendment of three shipbuilding contracts The agreement is related to the two Kamsarmax vessels Golden Excellence and Golden Explorer, and the Capesize vessel Golden Nantong. Due to delay in the construction progress the Company has agreed to accept late delivery of the vessels. The contract price for the three vessels in aggregate is now agreed to be USD 86.65 million.


Oldendorff, United Bulk Offer Demurrage Free Top-Off Service

United Bulk Terminals USA Inc. and Oldendorff Carriers GmbH & Co. KG announced a cooperative agreement to market combined loading and shipping of coal and petroleum coke in capesize vessels from the U.S. Gulf Coast to India and East Asia. The new service includes United Bulk Terminals export terminal in Davant, Louisiana and Oldendorff’s top-off installation in Trinidad. For the first time customers are able to book fully loaded capesize vessels from the U.S


Baltic Sea Freight Index up on Higher Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday on higher rates for capesize vessels.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was up three points, or 0.51 percent, at 597 points.   The capesize index rose 13 points, or 2.99 percent, to 448 points.  


Star Bulk Takes Delivery of Star Big

Star Bulk Carriers Corp. ("Star Bulk") announced that it has taken delivery of the Star Big (formerly Big Fish): a 1996-built, 168,404 dwt Capesize vessel. Following the completion of its regularly-scheduled drydock, the vessel is expected to be redelivered to its charterer, a multinational mining company, for the remaining period of 4.3 years under the vessel's time-charter employment at a gross daily rate of $25,000


Golden Ocean Reshuffles Fleet, Delays Newbuilds

Courtesy of Golden Ocean Group Limited

  Golden Ocean Group Limited has entered into several agreements concerning its fleet. Golden Ocean has agreed with Ship Finance International Ltd ("Ship Finance") a sale leaseback transaction of eight Capesize vessels currently owned by Golden Ocean. The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia, Golden Zheijang, Golden Future and KSL China and were built in Korea and China between 2009 and 2013


SFL Acquires Eight Bulk Carriers from Golden Ocean

Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today.   The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia, Golden Zheijang, Golden Future and KSL China and were built in Korea and China between 2009 and 2013. The total acquisition price will be $272 million, or $34 million on average per vessel


Weak Demand Weighs Further on Baltic Index

A FedNav Bulk Vessel (file image)

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities fell on Wednesday as demand for nearly all vessel sizes weakened. The overall index, which gauges the cost of shipping cargoes including iron ore, cement, grain, coal and fertiliser, slipped 5 points, or 0.91 percent, to 546 points. The Baltic index is seen by investors as an indicator of global industrial activity.


Baltic Index Slips to Fresh Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped to another all-time low on Tuesday on worries about vessel oversupply and slowing global demand.   The overall index, which gauges the cost of shipping dry bulk including iron


Baltic Index Slips Below 300 Points

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


Baltic Index Records New Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low for the ninth straight session on Friday as concerns of slow global demand outweighed gains for the large-vessel segment.  


Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


Baltic Index Tumbles Further Over Demand Worries

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.  


Baltic Index Hits Record Low for 12th Straight Session

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, plunged to a new record low for the 12th straight session on Wednesday amid concerns over vessel oversupply and low demand.  


Star Bulk to sell Capesize for $ 37 mln

Courtesy Star Bulk

Star Bulk Carriers Corp. a global shipping company providing transportation solutions in the dry bulk sector, today announced that the Company has entered into an agreement to sell ex yard a newbuilding resale Capesize vessel under construction in Japan to unaffiliated third parties (the


Vessel Demand Concerns Extend Baltic Index Fall

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, extended its record low run to a 14th straight session on Friday on persistent vessel glut and weak demand.   The overall index


Baltic Index Bottoms Out at Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, ended flat on Monday, primarily due to higher rates for capesize vessels and ending a run of 15 consecutive losing sessions.  


Baltic Index Resumes Losses, Ends Below 350 Points

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, resumed its fall on Tuesday to touch a new all time low on concerns of slowing global demand and vessel oversupply.   The overall index


Demand Woes, Vessel Glut Send Baltic Index to Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, hit a record low on Wednesday on persistent oversupply of vessels and tepid demand.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain


Drewry: Dry Bulk Shipping Needs Drastic Measures

Dry bulk shipping is facing a perfect storm and requires drastic supply side measures if the industry is to return on course to profitability in the medium term, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.


Dry Bulker Business Down, Says MOL

Dry Bulker. By Mitsui O.S.K. Lines

 In the dry bulker business, the market is deteriorating to a new record low due to the imbalance of fleet supply and demand, along with stagnant cargo trade resulting from the slowdown in China’s economy since last fall, says Mitsui O.S.K. Lines, Ltd.  


Baltic Index Continues Fall to New Record Low

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


Baltic Index Slides to New Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, touched a new all-time low on Monday as concerns of weak global demand and vessel oversupply weighed on the sector.   The overall index






 
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