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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


Cargill To Deliver Low Sulfur Cargo

Cargill Inc. is in the process of shipping the first low-sulfur gas oil or diesel cargo from Southeast Asia to Europe. Traders said the company had chartered a tanker called the Young Lady, which is on its maiden clean products voyage, to lift a total of 680,000 barrels of gas oil from the Malacca II refinery in June. The Malaysian refinery is the only major refinery in Southeast Asia that can produce high-quality diesel that meets tight United States CARB and European EN590 specifications


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


First Dividend from Nordex Likely

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  German wind turbine maker Nordex is mulling paying a dividend for the first time since listing on the stock exchange as part of efforts to create a long-term investor base, its chief financial officer told a German newspaper. "We will think about it but I cannot already today


Maersk: Rate Hike Under Pressure on Low Demand

Image: file photo

Container shipping firm Maersk Line said a fresh attempt made on Monday to raise freight rates on main routes from ports in Asia to those in northern Europe was already under pressure due to weak demand from shippers. Maersk Line, a unit of Danish conglomerate A.P


Transpacific Box Shippers Plan Freight Rate Rise

Photo: Maersk Line

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level.   The Transpacific Stabilization Agreement (TSA) said the planned


Transpacific Container Shippers Plan Price Rise

File photo: containership at dock.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned


Ocean Rig's $120m Loan Agreement with DryShips

Ocean Rig UDW

Ocean Rig UDW Inc. a global provider of off-shore contract drilling oil services, today announced the following: On November 18, 2014, Ocean Rig’s $120 million loan to its majority shareholder, DryShips Inc. (―DryShips‖), was approved by a special committee of Ocean Rig’s Board of


Lynden to Provide Barge Service for Tulsequah Mine Project

Lynden Logistics, LLC signed a letter of intent with Chieftain Metals Corp. to provide barge services in support of the construction and production of the Tulsequah Mine in British Columbia. The services will include the barging of materials and supplies up the Taku River to the mine site and


OAO Sovcomflot’s 9M/Q3 2014 Results

  OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014.   Nine months 2014 – Financial Highlights (IFRS accounts) USD


Petrobras to Appoint Director

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Petrobras’ Board of Directors approved at a meeting today (25 Nov.) the appointment of a director of Governance, Risk Management and Compliance, charged with ensuring process compliance and risk mitigation, including the risk of fraud and corruption


Regulators Clear Way for Merger of Hapag-Lloyd and Vapores

Germany's Hapag-Lloyd said on Tuesday it had received the last outstanding regulatory approvals for its planned merger with Chilean shipper Compania SudAmericana de Vapores, clearing the way for the two companies to be formally combined. The merger, which will create the world's No


Asia-Europe Container Freight Rates Fell 2.7 pct

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.


Austrian Port of Linz to Grow with EU Support

EU's TEN-T Program will support with over $1,043,000 development studies for the port of Linz. The project aims to increase the port's capacity to receive larger inland water, rail and road transport flows.   The Port of Linz, located in Austria's third largest city


China Names 9 Shipyards for 'Favorable' Treatment

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50


Asia Dry Bulk-Capesize Market 'Imploding'

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.


China Adds 9 Shipyards to Favored 'White List'

Photo: China Shipbuilding Industry Corporation

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market.   In September, it published a list of 51 yards which it later cut to 50


Petrobras' Condensed Report for 3Q, 2014

  Petrobras clarifies that it has been decided not to publish the financial statements for the third quarter of 2014 not reviewed by the independent auditors in view of the new incidents, after the day November 13, 2014, relating, directly or indirectly, with Operation Lava Jato, namely:






 
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