Dry Bulk Freight
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 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
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.
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 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
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
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
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
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
Overall confidence levels in the shipping industry fell during the three months to November 2014 to their lowest level for two years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from an unaffiliated third party seller, a newbuilding Capesize dry bulk vessel of approximately 180,000 dwt
NORDEN has taken a $230 million provision with no cash flow effect for onerous time charter contracts in Dry Cargo and reduces full-year guidance – underlying operations unchanged. Following an updated market evaluation, NORDEN has concluded that it is no longer likely that certain
Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with Clearlake Shipping Pte. Ltd., Singapore, a member of the Gunvor Group, for one of its Capesize dry bulk vessels, the m/v New York.
The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,700 dwt on 4th November, 2014. The 2004 Japanese built vessel is expected to join the Company’s fleet in the current quarter.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 10.4 percent to $1,175 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.
Danish shipping company D/S Norden reported a smaller-than-expected third-quarter operating loss on Wednesday and maintained its full-year earnings guidance. D/S Norden said its loss before interest and tax was $27.6 million in July-September, against a forecast for a loss of $33
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 20.5 percent to $934 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.
CaroTrans, a leading global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, today announces their U.S. West Coast port readiness program to address potential supply chain disruptions. Congestion and current labor issues are impacting the flow of cargo at U.S
CEVA Logistics, one of the world’s leading supply chain management companies, has been awarded a long term contract to provide freight management services to SuperGroup, owner of famous fashion brands including SuperDry. The contract award followed a competitive tendering process
Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson, the latest potential tie-up among sector players looking for scale after years of freight market
MacGregor, part of Cargotec, has secured a comprehensive deck equipment contract from New Times Shipyard, in China, for Intership Navigation Co Ltd's three new 36,500 dwt Laker-class bulk carriers. The vessels will each feature an optimised MacGregor cargo-handling system comprising MacGregor
MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers. The vessels will each feature an optimized MacGregor cargo-handling system comprising MacGregor cranes and hatch
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 2.7 percent to $719 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.
Capesize rates fall to six-year lows; rates below ship operating costs, according to accountancy firm. Rates for capesize bulk carriers on key Asian routes, which crashed close to six-year lows on Wednesday, will continue their inexorable fall in the face of few fresh cargoes, brokers said.