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Next Week

Last Call to Register for SHIPPINGInsight


Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American maritime industry technical conference and exhibition, which opens next week in Stamford, Conn. The event will take place at the Sheraton Stamford Hotel Sept. 30 – Oct. 2. It includes a full-day dedicated Marine LNG Symposium followed by the two-day Fleet Optimization Conference. Event highlights include: Senior executives from more than 20 major shipping companies as panel moderators and speakers 48 speakers and panelists sharing expertise and insights Two open roundtable sessions 30 exhibitors showcasing products, systems and solutions 14 networking events First annual SHIPPINGInsight Award presentation at gala luncheon Oct. 1 “We look forward to welcoming speakers and delegates next week,” said conference co-director Frank Soccoli. “The SHIPPINGInsight events are designed to give shipping professionals a unique opportunity to learn from experts, share knowledge and network with their peers from all segments of the industry.”  

Market Weighs on Asia Dry Bulk-Capesize Rates

Tonnage list grows in Pacific, Atlantic oceans; lack of coal cargoes weigh on freight rates. Freight rates for capesize bulk carriers are set to slide further next week, after falling to their lowest level in five weeks, due to a mounting supply of tonnage and uncertain cargo demand, ship brokers said on Thursday. "There's too many ships in the Pacific. There's a lot of ballasters (empty ships) sailing to Brazil," a Singapore-based ship broker said.

Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers contend. Rates for the one million barrel tankers have lifted to around 100 Worldscale points on fixtures from West Africa and the North Sea to the U.S., and on cross Mediterranean and North Sea routes, brokers said.

Casino Boat to be Unveiled

According to the Chicago Sun Times, pending regulatory approvals, the grand opening of the new $170 million gambling vessel at the Blue Chip Casino & Hotel in Michigan City, Ind., will be celebrated next week. It will mark the culmination of a two-year on-site construction project. The new boat will feature a 65,000-sq. ft. casino on one level and is reported to have the largest hull of any casino boat in the nation.

Asian Panamax Rates Edge Higher

Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker

Businessman To Discuss Titanic Replica

South African businessman Sarel Gous is expected to visit Belfast next week to discuss plans to build a replica of the Titanic and launch it as a commercial cruise liner. Gous reportedly paid Harland & Wolff, the builders of the original Titanic, to do a feasibility study and is traveling to Belfast to meet city council members and discuss his plans. In 1998 Gous secured the original plans of the Titanic, which was owned by the White Star shipping line

“Old Ship” Fears Drive Tanker Markets Higher

North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed near last deal done at April Brent +95 cts, with Brent CFD swaps for this week also in that area. Next weeks CFDs are seen around April Brent +90 cts. Institute of Petroleum week in London is keeping trade to a minimum, as are high freight rates caused by an exodus of older vessels out of Europe in the wake of the Erika spillage

Mississippi River Traffic Stalled

Mississippi River barge traffic near Burlington, Iowa, remained backed up on Thursday after lock 18 in Gulfport, Illinois, reopened Wednesday afternoon after a day-long shutdown, river officials said. Lock 18 was closed Tuesday morning when a breakaway barge caused two loaded barges to sink near the lock and left six other barges adrift at the dam. "We've got two barges still floating in the dam and two sunk, with the salvage unit on the way to clear it out

Valdez Port Sees Fewer Tankers After Prudhoe Problems

The Valdez crude export terminal has seen a modest decline in the number of crude tankers in recent weeks, as oil companies reduce shipments in light of the problems in Prudhoe Bay oil production, the Valdez terminal manager said Thursday. The Valdez terminal, the crude export facility at the end of the 800-mile Trans-Alaska Pipeline System, will receive four tankers this week and about the same number next week. That's a drop-off from last week's level and from typical traffic levels

Anti-Fouling Legislation Coming From IMO

Next week at the IMO in London a Diplomatic Conference will be held to finalize the details of the Convention on the Control of Harmful Anti-fouling Systems. In particular the phasing out of tin based (TBT) anti-fouling systems will be finalized with a system put in place to assess future anti-fouling systems. INTERTANKO, together with the other main industry representatives ICS, Intercargo, SIGTTO, OCIMF and Bimco have submitted a paper to the Conference focusing on those issues which

Asia Dry Bulk-Capesize Rates to Slide with Voume Drop

File Image: a Valemax bulk carrier alongside the pier.

Capesize rates nearing the bottom - Shanghai broker; Global iron ore demand to hit 3 bln tonnes by 2030 (Rio Tinto) Freight rates for capesize bulk carriers could hold around current levels or nudge slightly lower next week as cargo volumes fail to match the number of ships available for charter

China Says Unaware of Plan to Discuss Sea Dispute at APEC

China is not aware of any plan to discuss the disputed South China Sea at an Asia Pacific leaders' summit next week, a senior Chinese diplomat said on Tuesday, amid tensions between China and the Philippines over the waters.   For its part

Asia Dry Bulk-Capesize Rates Could Slip Again

A ValeMax Bulk Carrier (file image: Vale)

Capesize market could worsen in short-term; 3.5 mln tonnes could be cut from Brazil ore exports. Freight rates for capesize bulk carriers could drift lower next week as Brazil's Samarco iron ore mine disaster and uncertain ore demand from China weigh on cargo volumes, brokers said.

Shipping's CO2 Reduction Goals Exceed Commitments -ICS

File photo: Rosie Chavez

The United Nations (UNFCCC) has published a Synthesis Report analyzing the impact of the pledges made by 146 nations to reduce CO2 emissions in advance of next week’s Climate Change Conference in Paris.   The International Chamber of Shipping (ICS) says the mandatory CO2 reduction

US House Panel Passes Bill to Repeal Oil Export Ban

A U.S. House of Representatives subcommittee passed a bill on Thursday to repeal the U.S. ban on oil exports, providing momentum in the chamber for overturning the 40-year old trade restriction. The House Energy and Power subcommittee passed the bill by a voice count

Asia-Europe Rates Further Contract

Photo: Maersk Line

 Major container shipping rates plummeted again this week, with declines on the trunk Shanghai-Europe routes falling at record amounts,  says Shangahi Containerised Freight Index (SCFI).   A eport in ASC  says that the SCFI for Far East to North Europe dropped by a staggering

Asia Dry Bulk-Capesize Rates Impacted by China Holidays

Weak holiday demand to pressure rates lower. Rebound seen after China returns to market on Oct 8. Freight rates for capesize bulk carriers could come under pressure next week as lower cargo volumes due to holidays in China thwart shipowners efforts to push rates higher, ship brokers said.

Hempel at 'Danish Maritime Days' in Copenhagen

Present and long-term challenges for the global maritime industry and corresponding solutions are on the agenda when ministers, top executives and experts meet in Copenhagen for the Danish Maritime Forum on 7-8 October 2015

  Hempel will take part in the Danish Maritime Days (DMD) event next week and make presentations at the DMD Technical Conference, which is being held in cooperation with Danish Maritime, on the 7 & 8 October. Fouling Control Marketing Manager, Claes Skat-Roerdam

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output and gold hit three-week highs after dovish Federal Reserve minutes.  

Norwegian Cruise Line Enters Chinese Market

Image: Norwegian Cruise Line

Norwegian Cruise Line will introduce the first purpose-built ship customized for the Chinese market in 2017, Norwegian Cruise Line Holdings Ltd. CEO Frank Del Rio announced today during the CruiseWorld China summit in Shanghai.  

Asia Dry Bulk-Capesize Rates Could Bottom Out

File image: A ValeMax bulk carrier.

End-of-year cargo flurry still anticipated - brokers. Freight rates for capesize bulk carriers could bottom next week as owners resist charterers' attempts to force rates lower on the expectation of an end-of-year cargo flurry, brokers said on Thursday.

Asia Tankers-VLCC Rates Slump

Image: Dalian

 Freight rates for very large crude carriers (VLCCs) could face drop further next week on excess tonnage supply and lower cargo volumes, reports Reuters.   A Singapore based VLCC broker said that there’s no upside. Rates will either be flat or on the downside

Dry Bulk-Capesize Rates Could Slide Further

A ValeMax Bulk Carrier alongside during loading (file image)

No sign of Q4 cargo rush; Capesize and panamax rates barely covering opex. Freight rates for capesize bulk carriers could slip further next week as too many ships available for hire weigh on the market despite reasonable cargo volumes, brokers said on Thursday.

Two New SAR Vessel Designs from Tuco Marine

Image: Tuco Marine

Tuco Marine has launched two new search and rescue (SAR) vessel designs approaching next week’s Europort in Rotterdam.   The boats have been developed upon international requests and designed by a team of engineers in collaboration with naval experts

Med Crude-Urals Stronger in Med, Still Weak in Baltic

Russian Urals crude price differentials strengthened slightly on Tuesday in the Mediterranean while hovering near their weakest in 17 months in the Baltic due to abundant supplies.   In the Platts window, Glencore offered a Nov 13-17 Urals cargo in the Baltic at dated Brent minus $3

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