Marine link
 

Next Week

Last Call to Register for SHIPPINGInsight

hero_slide_industryleaders.jpg

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.” shippinginsight.com  


Asia Dry Bulk-Capesize Rates Should Remain Flat

Western Australia-China rates hit near 17-year low; owners explore laying-up ships. Freight rates for capesize bulk carriers on key Asian routes should remain flat next week as the Lunar New Year holiday in China will curtail chartering activity, shipbrokers said on Thursday. Capesize rates from Western Australia to China hit a near 17-year low on Wednesday after Rio Tinto fixed a capesize ship at a rate of $2.85 a tonne, said a Shanghai-based capesize broker.


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


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.


Asia Tankers-VLCC Rates Expected to Soften

File image (Suez Canal Authority)

MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs) will continue to soften next week as ample tonnage supply weighs on the market, although a raft of Middle East fixtures are expected to put a floor under charter rates, ship brokers said on Friday. That came as VLCC rates from the Middle East rose to a two-week high on June 28 before slipping slightly


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.


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


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


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


Oil up 2%

Oil prices were up as much as 2 percent on Wednesday after a third surprise weekly drop in U.S. crude stockpiles helped assuage fears over a global oil glut.   Oil was also supported by an industry strike in Norway that threatened to cut North Sea crude output and a weaker dollar ahead of a


U.S. Shale Gas Shipment to Arrives in Britain

The first shipment of gas fracked from U.S. shale will arrive in Britain next week, upping pressure on Scotland to reassess its opposition to fracking.   Chemicals giant Ineos will be importing ethane, obtained from rocks fractured at high pressure


VLCC Rates Under Pressure in Oversupplied Market

A EuroNav VLCC Underway (file image, Credit EuroNav)

Owners face difficulty raising rates due to discounted ships. Freight rates for very large crude carriers (VLCCs) are likely to remain under pressure next week as charterers drip-feed cargo in the face of surplus tonnage, shipbrokers said.


Harvest Halts as Rains Douse Midwest, Could Impact Barge Loading

File Image (AWO)

Heavy rains and flooding swamped a broad swathe of the northern Midwest this week, halting the harvest of corn and soybeans and forcing the closure of at least two Iowa crop processing plants, traders and farmers said on Friday. Farmers' concerns grew that standing water in fields could damage


Asia Tankers-VLCC Rates to Fall but Bottom in Sight

File image: Credit EuroNav

VLCC owners sailing slower and idling vessels; slow market to continue into September. Freight rates for very large crude carriers (VLCCs), which hit multi-year lows on Thursday, could slip further next week even as ship owners begin to resist charterers attempts to push rates lower


Brokers Optimistic on Asia Dry Bulk-Capesize Rates

File image: credit BSM

More activity from Australian miners buoy capesize rates; dry cargo market remains over-tonnaged as fleet growth outpaces demand. Freight rates for large capesize dry cargo ships on key Asian routes should stay largely unchanged next week on static cargo volumes though shipowners remain


Asia Tankers-VLCC Rates Steady as Suezmax Fixtures Weigh

Charterers splitting VLCC cargoes into smaller Suezmax tankers; rates to remain around $24,000 per day, below break-even levels. Freight rates for very large crude carriers (VLCCs) on main routes to Asia are set to hold around current levels next week


Japan, Philippines Negotiate Coast Guard Ships Delivery

Japan and the Philippines have begun talks for the transfer of two large coast guard ships to Manila, to help patrol the disputed South China Sea, a Japanese foreign ministry official said on Friday, as part of a deal on defence equipment.


Japan, China, South Korea Plan Maritime Talks

Image shows the national flags of South Korea, Japan and China from left to right. Courtesy: Xinhuanet

 China is working with Japan and South Korea to arrange foreign minister talks next week, pairing a hard-line stance on maritime issues with a greater willingness for dialogue, says a report in SCMP.   The Tokyo Shimbun daily said the three countries were making arrangements for the


Korean Air Approves Loan for Hanjin Shipping

File Photo Hanjin

Korean Air Lines, the biggest shareholder of Hanjin Shipping, has approved a plan to provide a loan of 60 billion won ($54.16 million) to the troubled shipper. The support will be offered on condition of securing Hanjin Shipping's Long Beach Terminal as collateral, Korean Air said.


Hanjin Collapse: Shippers Look to Fill Gaps

Photo: Hanjin Shipping

 Global shipping giants are now trying to fill the void left by South Korea's Hanjin Shipping. According to Nikkei, Global shipping heavyweights are rushing to open new lines on the trans-Pacific route, seeking to fill the gaps left by Hanjin.  


Asia Dry Bulk-Capesize Rates Steady

A so-called ValeMax bulk carrier commly used in the South America-to-Far East trades (credit: Vale)

Holidays in Asia likely to dampen chartering activity; Outlook still "slightly positive" for fourth quarter. Freight rates for large capesize dry cargo ships on key Asian routes could hold steady around current levels next week in a quiet market, ship brokers said on Thursday.


Salvors to Remove Fuel from Capsized Riverboat

Spirit of Sacramento capsized near Bethel Island, Calif. (U.S. Coast Guard photo by Adam Stanton)

Efforts to prepare the capsized riverboat Spirit of Sacramento for fuel removal operations are being conducted by the U.S. Coast Guard, California Department of Fish and Wildlife's Office of Spill Prevention and Response and other partner agencies.  


Asia Tankers-VLCC Rates to Climb on More MidEast, West Africa Liftings

File Image (Credit: EuroNav)

VLCC rates from MidEast have reached a floor at W33; surging Suezmax rates could make VLCCs more attractive. Freight rates for very large crude carriers (VLCCs) are set to climb next week as charterers ramp up tanker fixing activity from the Middle East while increased oil volumes from West


Lifeboat Crew Exchange Hits Fifth Year

Photo: IMRF

For the fifth consecutive year, rescue volunteers from European nations are to participate next week in a seven day Lifeboat Crew Exchange Program organized by the International Maritime Rescue Federation (IMRF).   The well-established program will include representatives from 13 countries






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright