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Dry Bulk Freight

Dry Bulk Freight Market Recovery Slows

Image: China COSCO Bulk Shipping (Group) Co., Ltd

 The global dry bulk freight market, crippled by oversupply but seeing signs of renewed activity, is expected to take at least a year to hit the road to recovery, according to the latest Platts survey of shipping market participants.   This inaugural Platts Dry Bulk Market Survey was conducted in July and involved more than 100 dry bulk market participants, with respondents including shipowners, ship-operators, charterers, shipbrokers and analysts. Those polled represented all dry bulk segments across the Capesize, Panamax, Supramax and Handysize markets.   Some 89% of respondents felt the dry bulk freight market will need a minimum of one year to recover, while 54% of the industry players questioned were not expecting any positive changes for at least three more years.   "Despite some signs of life in dry freight rates over the past few weeks, the results of our survey indicated that most market players do not believe in a sustained upturn any time soon," said Peter Norfolk, Platts editorial director for global shipping & freight. "While demand-side developments, particularly in China, remain of key importance to this sector, the overriding concern remains the oversupply of vessels."   Among participants occupying various roles, shipowners were more pessimistic than charterers


Miserable Start for Dry Bulk Shipping

Graphics: BIMCO

 The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destinations across the globe; it is too complex to single out whether this is positive or negative for the seaborne dry bulk transport demand, says BIMCO.   Going forward, the Chinese steel industry is set to grow its global market share, currently at 50%. Depending on domestic steel consumption in China


Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three decades as rates for all the four vessel types continued to flounder.   The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, was down 34 points, or 5.11 percent, at 632 points, the lowest since August 1986


Second Bulk Shipper Files for Bankruptcy

Photo: Winland Ocean Shipping Corp

Dozens of iron ore and coal carriers idled as Baltic dry index falls to all-time low. A second dry cargo shipper has filed for bankruptcy following a collapse in freight rates that has forced many companies to idle vessels used to haul iron ore, coal and grain rather than hire out the ships at a loss. Weaker demand from China and an oversupply of ships has led to the worst industry downturn in 30 years, pushing the Baltic dry index - the industry benchmark for freight rates - to an


Slower China Growth Hurts Global Shipping Sector: Fitch

Image: China Ocean Shipping Company

 China's slower growth and economic transition will pose significant risks for the already struggling shipping sector, rating agency Fitch said.   The shipping sector is already faces overcapacity, weak freight rates and stretched financials.   "Weaker data on exports and manufacturing in China and its economic transition increase uncertainty for container shipping," said Fitch in a report.  


Dry-Bulk Shipping: Hitting the Bottom

Photo: China COSCO Bulk Shipping (Group) Co

 Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei.   The global commodities bust has rocked the dry-bulk shipping industry, with a wave of bankruptcies washing across the sector and major players forced to restructure, divest or scrap assets.   Many in the industry had hoped it would start to recover this year


Busiest Capesize Demolition Market Ever

Peter Sand, Chief Shipping Analyst, BIMCO

  The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage, according to international shipping association Baltic and International Maritime Council (BIMCO).   The dry bulk market has long suffered from weak freight rates stemming from falling demand and an oversupply of ships. However, despite worsening freight market conditions, the demolition of dry bulk tonnage has not been adapting fully to this trend as could be expected


Shipping Confidence is Low -Moore Stephens

Richard Greiner (Photo: Moore Stephens)

Overall confidence levels in the shipping industry fell to a record low in the three months to February 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens.   The average confidence level expressed by respondents in the markets in which they operate was 5.0 on a scale of 1 (low) to 10 (high). This compares to the 5.6 recorded in November 2015, and is the lowest rating in the life of the survey


Baltic Index Flat, Rates for Bigger Vessels Rise

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, remained unchanged on Thursday, even as rates for capesize and panamax vessels rose. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was flat at 579 points. The capesize index rose 11 points to 724 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal


Dry Bulk Recovery will Require a Team Effort

(Photo: Pierre F. Beckman, Bulldog and Partners)

Experts believe the dry bulk market is positioned to become profitable by 2019 – but only if a series of sustained measures are taken year on year by the ship owning community as a whole, according to a report recently published by BIMCO.   Peter Sand, Chief Shipping Analyst at BIMCO, discussed the recently published analysis of the dry bulk market - the “Road to Recovery” in an interview at BIMCO House


Baltic Index Falls for Third Straight Day

File Image: A FedNav Bulk Vessel (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the third straight day on Thursday due to weaker rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Falls on Weak Freight Rates

Freight rates across most bulk sectors fell on Monday. File Image (Credit BSM)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday due to weaker rates across all segments, except handysizes. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Broad Declines drag Baltic Index down

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize, panamax and supramax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Down as Rates for Large Vessels Stay Weak

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels and supramaxes.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


G E Shipping Acquires Bulk Carrier

Courtesy GE Shipping

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Secondhand Capesize Dry Bulk Carrier “Jag Anand” (2011 built) of about 179,250 dwt. The company had contracted to buy the vessel in June 2016. With the inclusion of the vessel


Baltic Index Rises on Freight Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, extended its rally on Thursday, driven by higher rates across all vessel types.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Iron Ore Surge Could Boost Asia Bulk Capesize Rates

Freight rates for large capesize dry cargo ships on key Asian routes could rise next week on higher volumes of iron ore cargoes, ship brokers said.   "It's a bit more positive, optimistic next week," a Singapore-based capesize broker said on Thursday.  


Global Tonnage Continues to Grow

Image: Gard

 2015 saw further growth in total Group entered tonnage, which increased from 1,047 billion GT as at August 2014 to 1,088 billion GT as at August 2015, says annual review of International Group P&I Clubs (IGP&I) published by Gard on July 14, 2016.  


Port of Antwerp on the Way to Another Record Year

Photo: Port of Antwerp

 The port of Antwerp handled a freight volume of 108,317,922 tonnes in the first six months of this year, 3.6% more than in the same period last year. The container volume in TEU expanded by 4.4% while liquid bulk grew even more, by 8.4%


Higher Rates Continue to Perk Up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, boosted by stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Firms on Panamax, Smaller Vessels

File image: a Bulk carrier underway (BSM)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on firmer rates for panamaxes and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0


Baltic Index Dips on Capesize Rates

File image: a typical bulk carrier underway (BSM)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on weaker capesize vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0


Antwerp Port Inks Iranian Collaboration

Eddy Bruyninckx signed the agreement on behalf of the Antwerp Port Auhority, Saeed Nejad on behalf of the Ports & Maritime Organisation. Photo Antwerp Port

Last week Antwerp Port Authority signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran.   Bandar Abbas accounts for 90% of the in- and outgoing containers of Iran and for nearly half of the 200 million tonnes of freight handled by


Capesize, Panamax Vessels Drag down Baltic Index

file image: a so-called ValeMax Bulk Carrier (Vale)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Asia Dry Bulk-Capesize Owners Remain Confident

File Image: typical bulk carrier underway (BSM)

Number of idle ships down to around 15, from 70 in early 2016 - broker. Freight rates for large capesize dry cargo ships on key Asian routes could nudge lower next week although they are generally expected to remain around the current levels, ship brokers said.






 
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