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Freight Exchange

Carib Freight Rates Soar

Freight rates for Caribbean clean cargoes leapt to nearly W400 on Wednesday from W335 at the start of the week, brokers said. "There's a shortage of Boston-suitable tonnage, and a lot of cargoes - it's as simple as that," said one U.S. broker. But other sources point to the thriving gasoline arbitrage between Northern Europe and the U.S. Northeast as sucking in all available ships, thereby tightening supply in the Caribbean. The rise in freight cannot be pinned down to any one fixture. "Owners quoted a little bit more than last done, then a little bit more, until we got where we are today," said the broker. "I expect it'll stay up for the next two weeks," he said, adding "Christmas is coming and charterers will want to fix until beyond then." The Baltic Exchange in London last night quoted the route at W370, a rise of nearly 38 points from the day before.


Baltic Exchange Appoints Jones A-P Director, Singapore

Christopher Jones: Photo courtesy of Baltic Exchange

Jones joins the Baltic Exchange from ICAP Shipping Singapore where he was director of sale & purchase. He will replace Philip Williams who retires from the role in April, and he 
will be based at the Exchange's Singapore office. Baltic Exchange Chief Executive Jeremy Penn said:

 “We’re delighted to welcome Chris Jones to the team. The Baltic Exchange’s presence has grown significantly in Asia with our Singapore office leading the drive


Drewry to Launch World Container Index

Drewry Shipping Consultants and The Cleartrade Exchange have announced that the World Container Index (WCI), the first Europe-based assessment of container freight rates and index production, is scheduled for launch in September 2011. The index will provide a new and important facility for the global market to hedge their freight rate risk and see major improvements in forward price discovery through the container derivatives market.


London's Baltic Exchange Redefines Capesize Terms

Capesize Bulk Carrier: Wiki CCL photo

The Baltic Exchange inform it will be making significant amends to the Baltic Capesize Index including a change to its vessel description, amends to the route weightings and the addition of three new routes, as follows:  

 The move follows a formal consultation process with the dry bulk market which began on 11 October 2013. Trial reporting on the new routes and vessel description will begin in late January/early February with a lifting of the trial anticipated by the end of March 2014


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.


Artemus Transporation Solutions Hold 3rd Training Course

Artemus  Transportation Solutions will be holding its Global Commerce- International Transportation & Trade Shipping 101 Course on September 15-19 in the Seattle-Tacoma area. This is the third time the Shipping 101 course will be hosted by the Marine Exchange of Puget Sound in Seattle/Tacoma.   The Marine Exchange of Puget Sound is a non-profit association that provides members certain communications and information services relative to local commercial vessel activities


Caribbean Tanker Rates Up a Notch

Caribbean tanker rates edged up a notch on Monday because of ongoing backlogs caused by last week’s weather delays, brokers said. “We saw W305 done today for 70,000 tons,” said a U.S. broker. “The fog has lifted but there’s still a backlog. Some ships are running... five to seven days late.” He said that lightering programs had also been affected. London brokers said that rates for million-barrel tankers continued to hold firm


U.S. DOT Chief LaHood Establishes Freight Advisory Committee

U.S. Transportation Secretary, Ray LaHood

DOT Announces Proposal to Establish ‘National Freight Network’.   U.S. Transportation Secretary Ray LaHood has announced the establishment of a National Freight Advisory Committee to provide recommendations aimed at improving the national freight transportation system. A strong freight transportation system is critical to the nation’s economy and essential for helping meet President Obama’s goal of doubling U.S. exports by 2015


Shanghai Remains World's Busiest Container Port

Shanghai Huangpu River: Photo CCL

Shanghai port container throughput rose 3.3 percent to a record 33.6 million TEUs (twenty-foot equivalent units) last year, according to official data just published, reports Xinua. According to the Chinese news agency, the city first became the world’s biggest container port in 2010 when it surpassed Singapore, and 2013 also saw a range of achievements in Shanghai shipping: the official opening of two-way traffic in the main channel of Yangshan Deep-water Port in October could help


Baltic Sea Index Down as Weak Demand Hits Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday as lack of demand took a toll on rates for most of the vessel segments.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell two points to 596 points.   The capesize index remained unchanged at 456 points.  


China Strengthens Maritime Ties with Pak

Image: Chinese Peoples Liberation Army (PLAN)

 The Vice Chairman of China's Central Military Commission General Fan Changlong has pledged to deepen maritime security and military technology cooperation during his meeting with the Pakistan Navy Chief Muhammad Zakaullah.   Zakaullah said that Pakistan Navy and Chinese Navy are


Asia-Europe Box Rates Fall Almost 6 pct

File image: a Maersk Line Box ship.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 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.


Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments. The index, which factors in the average daily earnings of capesize, panamax


Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's senior secured debt and increased credit availability.   Rand said in a statment that the refinancing accomplishes the following


Baltic Index Advances with Rising Cry Commodity Vessel Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, was lifted on Thursday by higher demand across all vessel segments.   The index, which factors in the average daily earnings of capesize, panamax


Vestas Inks Swedish 122 MW Wind Deal

Danish wind turbine manufacturer Vestas Wind Systems said on Friday it had received a 122 megawatt turbine order for a wind project in Sweden. The order was for 37 units of the V117-3.3 MW turbine for the Sorby Wind Farm project in Ljusdal, Vestas said in a stock exchange announcement.


EPA’s SmartWay Initiative Makes Way on the Water

Photo: Donald Hutton

Exhaustive studies by The National Waterways Foundation (NWF), a center for research and learning where industry leaders address public policy issues related to America’s inland waterways system, conclude that inland waterways transport generates fewer emissions of particulate matter


Higher Rates Across All Vessel Segments Propels Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday, propelled by higher rates across all vessel segments.   The index, which factors in the average daily earnings of capesize, panamax


Indonesia, Japan Defense Agreement to Tackle South China Sea Issue

Australian Strategic Policy Institute (ASPI)

 Indonesia will sign a non-binding defense agreement with Japan next week when President Joko Widodo visits Tokyo for talks with Prime Minister Shinzo Abe.   Tokyo is forging closer security ties with Southeast Asian nations and builds a counter-balance to China


Maersk Predicts Container Traffic Demand Growth

Pic: Maersk Line

 As freight rates are expected to continue to decline due to oversupply, the container shipping demand is expected to grow 3-5% this year, according to Lars Mikael Jensen, chief executive of Asia Pacific region at Maersk Line.   He said supply growth as ships ordered several years ago


VIKING Extends Liferaft Exchange Program to Japan

Photo courtesy of VIKING

Leading marine and fire safety equipment and service provider, VIKING Life-Saving Equipment (VIKING) is stocking ready-packaged liferafts to provide fixed-price liferaft exchange to vessels calling Japanese ports. “The world of shipping is dominated by a small group of countries


Baltic Index up With Rising Capesize and Smaller Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued to rise on Monday, supported by positive capesize and smaller vessel rates.   The index, which factors in the average daily earnings of capesize, panamax


Singamas Container: Profit Down in 2014, Bullish for 2015

Image: Singamas Container Holdings Limited

 The world’s second-largest container manufacturer Singamas Container reported 2014 net profit which is lower than the previous year, but is expecting a better 2015 bolstered by pent-up demand from shipping lines and the firm’s investment in a gateway province between China and


Baltic Sea Freight Index up on Higher Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday on higher rates for capesize vessels.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


Baltic Sea Freight Index Flat on Muted Vessel Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity.   The index, which factors in the average daily earnings of capesize, panamax






 
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