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Dry Bulk Freight

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. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $927 to $12,588. The panamax index fell 7 points, or 0.87 percent, to 794 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes between 60,000 and 70,000 metric tons, were down $62 to $6402. (Reporting by NR Sethuraman in Bangalore, editing by David Evans)


Seanergy Maritime Sells Subsidiary BET

Seanergy Maritime Holdings Corp. has completed the sale of its 100% ownership interest in Bulk Energy Transport (Holdings) Limited (BET). The Buyer, I.M.I. Holdings Corp., is an affiliate of members of the Restis family, the Company’s major shareholders. Following the sale of BET, the Company owns a fleet of 12 dry bulk carriers (two Panamax, two Supramax, and eight Handysize vessels) with a total carrying capacity of approximately 468,500 dwt and an average fleet age of 13


Asian Panamax Rates Up Slightly

Asian Panamax freight rates for dry bulk cargo edged up slightly this week in slow trade due to New Year holidays, Reuters reported. But the outlook for the Panamax sector remained healthy as activity would pick up momentum after the holiday period and the arrival of new ships was unlikely to affect Panamax rates before April, brokers said. The freight rates for the heavy grain Panamax benchmark route, U.S. Gulf to Japan, were quoted higher at $22.493 a ton compared with $22


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.


Euroseas Charter Agreement for M/V Aristides N P

Euroseas Ltd., (NASDAQ:ESEA) an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that a subsidiary of the company has entered into time charter agreement for the following vessel: M/V Aristides N P, a 69,268 dwt, 1993 built Panamax bulk carrier, has been chartered until May 2012 at a gross daily rate of $14,950. The charter will commence upon completion of its present charter within the


Coal Trade Rescues Dry Bulk Market, US Gains Traction

Dry bulk trade grew by an impressive 7% in 2012 with steam coal proving to be the saviour of the freight market, which otherwise would have seen a complete bloodbath, according to Drewry's latest 'Dry Bulk Forecaster'. Steam coal trade increased by about 18% from 665 million tonnes in 2011 to 784 million tonnes in 2012, supported by high availability and low prices. The report shows that Global GDP grew by 3.2% in 2012, following growth of 5.2% and 4


Bulk Market Pauses

Dry bulk rates may have eased back significantly in recent weeks but there is still plenty of positive sentiment on the future market. Many shipbrokers are describing today’s rather softer market as a correction to what had become a seriously overheated sector, with the cost of freight becoming itself a damaging factor in the world’s dry bulk trades. The pause in the market has led to a slackening in the pace of new contracting that, brokers say, may be no bad thing


Largest Mobile Harbor Crane on U.S. East Coast

Photo courtesy Liebherr-Werk Nenzing GmbH

In August Liebherr, supplier of port equipment, delivered a Mobile Harbour Crane, type LHM 500S to Rukert Terminals. The Rukert Terminals is located at the Port of Baltimore and specializes in the handling of metals, ores, salt, alloys, and other dry bulk and break-bulk cargoes and containers. The growth in the region over the past decades in terms of global trade, and the associated demand of freight and handling capacity has increased the importance of efficient infrastructure


Report: Ship Scrapping Growth Could be Good News

Braemar Seascope Research Manager Mark Williams

Braemar Seascope’s demolition brokers are working extra hard this year, which may be good news for everyone. Dry cargo demand growth is running at strong levels due to the twin processes of industrialization and urbanization in emerging markets. Annual average demand growth between 2011 and 2015 is likely to match and may even exceed the annual 5.2% growth witnessed between 2004 and 2008 – the years of the superboom in dry cargo vessel earnings


Dry Bulk Charter for Diana Shipping

Diana Shipping Inc. announces a time charter contract with Cargill for its dry bulk carrier 'M/V Protefs' Diana Shipping Inc.a shipping company specializing in the ownership and operation of dry bulk vessels, announcee that it has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v "Protefs, at a gross charter rate of US$9,000 per day


G E Shipping Acquires a Supramax Bulk Carrier & Sells "Jag Prachi"

Jag Prachi

  The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month. Earlier yesterday the company reported having delivered its 1991 built General Purpose Product


Biden Champions Maritime at Port of Virginia

VP Biden speaks at the Port of Virginia (DOT photo)

Carrying 95 percent of U.S. foreign trade, our maritime transportation system, which includes America’s ports, is a crucial component of our nation’s economy. And with our growing population—and the associated need to increase the amount of freight our transportation network


U.S. Maritime Security: The Portunus Concept

(LLNL Photo)

The mission of the Lawrence Livermore National Laboratory (LLNL) is to strengthen United States’ security through development and application of world-class science and technology. LLNL seeks to enhance the nation’s defense; reduce the global threat from terrorism and weapons of mass


Swire Pacific Acquires 3rd L Class PSV

Swire Pacific celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto, Japan

  Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto, Japan on Tuesday, 30 September 2014.   Graced by Lady Sponsor, Amanda Butt


Latest Ocean-going Shipbuilding Orders

Bow shot: File photo

A number of orders are reported by Clarkson Hellas in their latest S&P Weekly Bulletin, with contracts being signed across the Dry Bulk, Tanker and Container markets. Dry bulk carriers Activity has been focused amongst the small/midsized vessels with Empros Lines reported to have signed up


MN 100: Kirby Inland Marine

_BKR1997.jpg

55 Waugh Dr, #1000 Houston, TX 77007 Tel: (713) 435-1000   Email: customerservicerep.klm@kirbycorp.com Website: www.kirbycorp.com President: William G. Ivey The Company: Kirby Corporation is a premier tank barge operator in the United States


ClassNK Expands Joint Research in Europe

Marco Schneider, Project Manager, CFD, HSVA; Noboru Ueda, Chairman and President, ClassNK; Yasushi Nakamura, Executive Vice President, ClassNK; Capt. Herman Visser, Oldendorff Carriers

Class Society Joins Joint R&D Project for Bulk Carrier Safety with Germany’s HSVA and other European Research Institutions Classification society ClassNK announced that it will join a new European Joint R&D project to ensure bulk carrier safety


Asia-Europe Container Freight Rates Fall 6.6%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.6 percent to $1.055 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.


Vale, Cosco to Cooperate on Iron Ore Shipping

Brazilian miner Vale SA reached a deal with China Ocean Shipping Co (Cosco) for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ports. Vale said in a statement that it would transfer ownership of four very


Sharp Slowdown in China Industrial Activity

Photo: CMA CGM

The slowdown in Chinese industrial production growth ads to the existing concerns that China is going through challenging times, as Beijing aims for a soft landing and a transition of the economy, BIMCO reported, adding that the demand for dry bulk shipping and container shipping is bound to


CAGTC Members Win Big in TIGER VI

The U.S. Department of Transportation (USDOT) announced Friday that 72 projects will receive a total of $600 million from the sixth round of the Transportation Investment Generating Economic Recovery (TIGER) program. Of these, 12 Coalition for America’s Gateway and Trade Corridor (CAGTC)


Great Lakes Dry Cargo Residue Discharge Rule in Effect

The U.S. Coast Guard published a final rule to the Federal Register announcing that it has received approval from the Office of Management and Budget for an information collection request associated with the January 2014 final rule on the discharge of bulk dry cargo residue on the U.S


Seagull Maritime Response on Safety, Security

The Seagull training system provides software tools for the unique training challenges faced by the maritime industry today.

  Key areas of concern for seafarer safety and security in both marine and offshore operations have triggered the release of six new and one supplementary titles from computer-based training specialist Seagull Maritime. Third quarter 2014 releases include specific emphasis on the offshore


Star Bulk Takes Delivery of M/V Leviathan

star bulk.jpg

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that on September 19, 2014 it has taken delivery of M/V Leviathan, a 182,000 dwt Capesize built by Japan Marine United (JMU).


Charterers Remain Optimistic Despite Small Downturn

Richard Greiner

Overall confidence levels in the shipping industry fell slightly during the three months to August 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. They are, however, still higher than at the corresponding period twelve






 
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