Dry Bulk Freight
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. Dreyfus was also active and paid a firmer $10,250 daily plus $265,000 ballast bonus for 1991-built Sea Ilex 66,000 dwt delivery Plate April 5/10 trip Continent. On March 28, the Baltic Dry Index (BDI) rose four points to 1,627, the Baltic Panamax Index gained seven to 1,545, the Baltic Capesize Index climbed four to 2,211 and the Baltic Handy Index firmed three points to 1,136. - (Reuters)
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 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 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
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
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
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
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
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
Van Ommeren, due to merge with domestic rival Pakhoed, announced its Van Ommeren Shipping venture will combine dry freight operations with those of Clipper Group in a new joint venture.
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that it has taken delivery of M/V Star Sirius a Post - Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity.
Reuters- Dry bulk carrier Golden Ocean Group Ltd expects double-digit growth in global iron ore trade in 2014, helping its markets pick up momentum and improving rates, the company's CEO Herman Billung said at a conference in Oslo on Wednesday.
Scorpio Bulkers, headquartered in Monaco, report its results for the three months ended December 31, 2013 and for the period from March 20, 2013 (date of inception) to December 31, 2013. Extracts follow: Results for the three months ended December 31, 2013
Welcoming the proposal, the Coalition for America’s Gateways and Trade Corridors (CAGTC) says it applauds the Administration’s vision for improving the multimodal freight network to support American businesses and national competitiveness in the world marketplace.
Sentina Corp, a New York-based producer of protective cargo coverings, says it has been awarded the designation of 'Qualified Anti-Terrorism Technology' under the Department of Homeland Security's Safety Act for its Freight Glove, a reusable, vacuum-sealable, and tamper-evident covering.
Star Bulk charters two fuel efficient newbuilding newcastlemax vessels under 10-year bareboat charters with purchase obligation Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has entered into agreements with CSSC (Hong
Reuters - Dry bulk shipping firm Golden Ocean reported fourth-quarter earnings broadly in line with expectations on Tuesday and said it expects the market to continue recovering as Chinese demand remains strong. Golden Ocean, part of shipping tycoon John Fredriksen's business empire
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it took delivery of the newly built m/v Crystalia, an Ice Class Panamax dry bulk vessel of 77,525 dwt that was contracted in March 2012.
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has taken delivery of M/V Star Vega, a Post-Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity.
Workers at French ports embarked on a national strike starting at 6 a.m. local time today, February 12. The strike, which affects most public terminals but not private ones, will likely last 24 hours. Fos/Lavera - Port workers stopped work 12/0600 (probably until 13/0600) at Fos/Lavera oil
Inchcape Shipping Services (ISS) has announced a key hire in its Cargo Solutions division. Vincent Mazzone, a dry bulk supply chain and risk management professional, has been appointed to the newly created Geneva-based role of Vice President Cargo Solutions Business Development.
Highlights: Knightsbridge reports net income of $3.0 million and earnings per share of $0.10 for the fourth quarter of 2013. Excluding the results from discontinued operations, the company reports net income of $3.5 million and earnings per share of $0.123 for the fourth quarter
Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has appointed David Mackay as Senior Vice President for its Africa region. Based in Mombasa, Kenya, David will have operational management responsibility for eight countries in the region
Scorpio Bulkers Inc. announced it has agreed to time charter-in five dry bulk vessels. The chartered vessels will be the first to operate in the Scorpio Bulker fleet, while the company awaits 74 newbuild and purchased dry bulk vessels (28 Ultramax
CargoSphere, cloud-based global rate management solution and confidential Rate Mesh network for the ocean and air transportation and logistics industries, has announced the completion of Blu Logistics’ integration with CargoSphere’s freight rate management solution