Dry Bulk Freight
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. 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)
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
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
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
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
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
Diana Shipping Inc. Announces New Short Term Charter Contract
Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced that it has entered one of its Panamax dry bulk carriers, the Oceanis, into a time-charter contract with J.B. Ugland Dry Bulk A/S for a period of approximately 24 days, estimated to begin on August 22, 2005, at a gross rate of $12,500 per day plus a $198,000 one-time payment. Applying the above mentioned one-time payment to this fixture, and based on the estimated duration of 24 days
Crescent takes delivery of new design ships
U.K. shipping and transport group Crescent PLC has added two 2,670 dwt bulk carriers to the fleet of ships operated by Crescent Shipping, the group's dry cargo shipping division. "The Crescent Seine and the Crescent Rhine are of a brand new design and are exceptionally flexible ships. Both have low air draft designs, allowing them to trade on combined river-sea routes. Fully loaded with 134,800 cu ft of grain, for instance, they will still only have a draft of 4.05 m and an air draft of 5.2 m
Van Ommeren, Clipper In Dry Freight Venture
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.
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
Ports America to Operate Port of LA Cruise Terminal
The Port of Los Angeles contract Ports America to provide operation, management & maintenance of the Port of Los Angeles Cruise Terminal at Berth 90-43 in San Pedro, Calif. The five-year agreement, commencing April 2013, includes two 5-year options
Globe Express Strengthens Local Market Presence
Market strategy focuses on delivering innovative supply chain solutions that complement Kuwait’s growing reputation as a major logistics hub. Globe Express Services announced that it has intensified its regional growth plans by providing a full array of innovative supply chain solutions
Hamburg Süd 2012: Better, but Not yet Good Enough
Hamburg Süd’s performance in brief Following the powerful recovery of the world economy in 2010 and a weaker 2011, global growth continued in the past financial year, albeit at a slower pace. Against this backdrop, container shipments increased once again
Global Freight Rates Plunge, Report Finds
Average global freight rates have fallen to a 15-month low, according to Drewry’s new online Container Freight Rate Insight. Drewry’s Global Freight Rate Index fell 12% in April to reach its lowest level since February 2012, when container shipping was still recovering from the last
U.S.-Flag Lakers Down Seven Percent
U.S.-flag Great Lakes freighters (lakers) carried 2.2 million tons of dry-bulk cargo in March, a decrease of 7% compared to 2012. However, the fleet’s March float was marginally ahead of the month’s five-year average.
Forwarders’ Volumes Continue to Fall
Following five consecutive monthly increases, the overall Stifel Logistics Confidence Index fell 1 index point to 51.5 in April. Despite the decline, the index remained above the significant 50 mark, denoting expansion, for the third consecutive month.
TORM Product Tankship Deal With Oaktree Capital
Denmark's TORM agreed to sell five MR product tankers to a company controlled by Oaktree Capital Management as part of an earlier restructuring agreement. The sale is a consequence of the specific option rights, which one bank group exercised in connection with the Restructuring Agreement.
Rand Appoints Two Directors
Rand Logistics, Inc. announced that John Binion, most recently the Chief Operating Officer and Executive Vice President of United Maritime Group, has been appointed to Rand's Board of Directors. Rand also announced that Michael Lundin, who has served as an independent director of Rand since April
Catamaran Ferry Delivered to Coastal Fast Ferries
Incat Crowther launched Kilimanjaro IV, a 45-meter passenger ferry for the African Operator Coastal Fast Ferries. The vessel capitalizes on the rapid growth in the operator’s passenger numbers, bringing the Coastal Fast Ferries’ fleet to seven Incat Crowther-designed vessels.
Bechtel Studies Cargo Ship Safety in West Africa
Bechtel launched a new research initiative to improve the safety of mooring large cargo ships off the coast of West Africa. The combination of heavy ocean swell, squalls and shallow coastlines can create unpredictable conditions which limit the number of dry bulkers that can be moored safely in
ISS Opens Office in the Amazon
Inchcape Shipping Services (ISS) is set to ppen a new office in Santarem, Pará State to cater to the Amazon and Brazil markets. The new office, the company’s third in the Amazon, in addition to Manaus and Belem, will enhance its presence in the booming Brazilian market and is its
Big Ship Orders Keep Focus on Carrier Supply Pressures
Attempts by carriers to tackle the capacity overhang are being undone as new orders for Ultra Large Container Vessels (ULCVs) continue to make the headlines, according to Drewry’s monthly report Sea & Air Shipper Insight. The news that China Shipping Container Lines will join Maersk
COSCO China Shipyards Diminish Group Q1 2013 Profits
The Group achieved $9.7 million net profit on turnover of $733.0 million in Q1 2013, but shipyard & drybulk operations contributions down. In Q1 2013, turnover from shipyard operations decreased by 25.5% to $719.2 million from $965.9 million in Q1 2012
U.S. DOJ: Pollution Settlement Nets $1 Million
$1 Million Settlement Enhances Land and Sea in the Eastern District of Texas. BEAUMONT, Texas — U.S. Attorney John M. Bales announced a settlement reached with a European shipping corporation has resulted in significant enhancements to nature conservation groups in the Eastern
POLB Named Best in N. America
The Port of Long Beach earned “Best Seaport in North America” honors at the 2013 Asian Freight and Supply Chain Awards in Beijing. The 2013 Asian Freight and Supply Chain Awards recently hosted in Beijing by the Cargonews Asia shipping trade publication