Booming Capesize rates have been driven by increased Japanese steel production more than they were by the August market raid by Belgium's Bocimar when it chartered about 35 ships, according to shipping sources. Capesize spot rates have doubled over the last three months with the market now looking for $15-16,000 for a Pacific round trip, compared with about $7,500 in August. Atlantic rates have also soared, although this is partly due to the grounding of the 274,326 dwt ore carrier Weser Ore at Tubarao in Brazil last week.
China has amended rules around ships it will allow to berth at mainland ports, paving the way for Brazilian miner Vale to ship iron ore in its giant 400,000 deadweight tons (DWT) carriers. Vale's mega ships, the world's biggest bulk ore carriers, have been barred from China since January 2012 due to rules which disallowed ships of more than 250,000 dwt in capacity. An internal circular issued last week by the Ministry of Transport and seen by Reuters on Wednesday said it would now
Reduced demand for domestically-made steel and uneven demand for stone from the construction industry again produced a shortfall in U.S.-Flag carriage on the Great Lakes in August. Cargo movement in U.S. bottoms totaled 12,761,930 net tons, a decrease of 8.3 percent. The season-long slump has now left a gap of 6.2 million tons between the end-of-August totals in 1999 and 1998. Steel mill-bound iron ore cargo slipped below six million tons in August
STX Shipbuilding won a $247.3m order from Europe to build two very large ore carriers, according to a Reuters report, with delivery scheduled for 2012.
Vale SA, the iron-ore producer building a fleet of the world’s largest commodities ships, said its Vvalemax vessels carrying the raw material can stop at other countries if not allowed to enter Chinese ports, according to a Bloomberg report. The fleet, which will have the capacity to transport about 60 million metric tons of iron ore per year once fully in operation, can serve alternative ports including those in Malaysia and Oman. Vale is spending a reported $8
Brazilian miner Vale SA reached a deal with China Ocean Shipping Co (Cosco) for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ports. Vale said in a statement that it would transfer ownership of four very large iron ore carriers of 400,000 deadweight tons to Cosco. It would then lease them back from Cosco, the state-owned parent of top Chinese dry bulk shipper China Cosco , for 25 years.
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 532 points in the week ending Monday to 4,400. SS&Y officials reported that the index is now nearly 1,500 points higher than it was in the same period in 1998. It is also just 19 points off pre-Asian crisis levels in October 1997. The surge in rates was due mainly to the grounding of the 274,326 dwt ore carrier Weser Ore at Tubarao, Brazil, on Oct. 4, which led to spot replacement tonnage seeing knee-jerk rate rises
Mitsui O.S.K. Lines, has launched one of the worldâ€™s largest iron ore carrier, the Brasil Maru (327,180 MT DWT). Naming and delivery ceremonies were held at the Mitsui Engineering & Shipbuilding Co., Ltd. Chiba Works on December 7, 2007. It will transport Brazilian iron ore to Japan under a long-term contract with Nippon Steel Corporation. The new ship is the third-generation of MOL vessels to carry the Brasil Maru name
Reuters is reporting that the damaged Vale Beijing, the world's largest iron-ore carrier, was moved from its berth in Brazil for repairs. Tugs reportedly moved the ship from the dock in the port in Sao Luis in northeastern Brazil and will tow it to a location outside the shipping channel, a harbor pilot official told Reuters. The port in northeastern Brazil is operated by Vale. The 384,300 tons of ore loaded aboard the Vale Beijing
MHI announces outline of FY 2012 first 3-month financial results ended June 30, 2012 (consolidated). Highlights from the financial report follow: Orders received ⇒ Down ¥128.9 billion: Year on Year (YOY) (¥621.3 bn → ¥492.4 bn) Overall, orders declined from a year ago, reflecting decreases in Power Systems and Machinery & Steel Infrastructure Systems, where orders were strong in the previous fiscal year. Shipbuilding & Ocean Development Segment
Eco Marine Power together with strategic partners has installed an Aquarius Management & Automation System (MAS) integrated with a marine solar panel array on-board the Blue Star 'Delos'. The Aquarius MAS has been installed as part of a joint renewable energy project with Blue Star
In December 2014, orders of Japan yard fell 37% year on year, says Japan Ship Exporters’ Association (JSEA). Japanese shipyards specialize in building dry bulk carriers. JSEA member yards secured 24 export orders totaling 1,215
China has amended its port rules to allow fully loaded 400,000-deadweight tonnes (dwt) dry bulk cargo ships to dock at the country’s mainland ports. The ban affected the type Valemax ships, cargo ships built by Vale with capacity of 400 thousand tons.
India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end. "The vessel will be delivered to the buyers during the fourth quarter (January-March)
Award recognizes MOL’s Development of a Waste Heat Energy Recovery System for Marine Diesel Engine Used to Generate Electric Power and Assist Ship Propulsion Mitsui OSK Lines, Ltd. today announced receipt of the 2014 Japan Society of Naval Architects and Ocean Engineers (JASNAOE) Award
Eco Marine Power (EMP) today revealed details of its Aquarius Unmanned Surface Vessel (USV) and announced that it will begin work related to the construction of a prototype. The Aquarius USV is being developed as a cost-effective unmanned surface vessel (USV) and will incorporate a number of
The push to outfit commercial vessels with energy saving equipment continues, and news out of Japan says that a Mitsubishi Energy Recovery System (MERS) supplied by Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME) was installed on a VLOC (Very Large Ore Carrier) for
Chinese shipbuilder on the SGX Main Board Yangzijiang Shipbuilding Holdings Limited announced that it has secured a shipbuilding contract for four 260,000DWT very large ore carriers (VLOC). The shipbuilding contract was secured from an Australia based ore company listed on the Australian
Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker, may start talks on a contract to transport iron ore from Brazilian miner Vale on Valemax ships, the world's biggest bulk carriers, to cut costs, a senior official said. Such a contract would be a boost for Vale
Sales and technical support agreement signed for Singapore and Myanmar. Eco Marine Power (EMP) announced that it has entered into a sales and support agreement with MINs Control Systems Solution Pte. Ltd. (MCSS) to sell and support EMP's renewable energy solutions for shipping in Singapore and
Brazil hopes that during a visit by Chinese President Xi Jinping it can boost ties with its biggest trade partner beyond the exchange of commodities for manufactured goods, but that may be wishful thinking. Accords China will sign with Brazil when Xi meets with President Dilma Rousseff on
China and Brazil sealed their expanding commercial partnership on Thursday with a $5 billion credit line for Brazilian miner Vale and the purchase of 60 passenger jets from Brazilian planemaker Embraer. In a raft of energy, finance and industry accords signed before presidents Xi Jinping and
Class Society Joins Joint R&D Project for Bulk Carrier Safety with Germany’s HSVA and other European Research Institutions Classification society ClassNK announced that it will join a new European Joint R&D project to ensure bulk carrier safety
Brazil's iron ore miner Vale SA said on Friday it secured a deal with China Merchants Group to lease for 25 years as many as 10 very large ore carriers, which will be built by China Merchants, to ship ore from Brazil to mainland China. Vale had commissioned at least 35 VLOCs
Shipments of iron ore on the Great Lakes topped 7 million tons for the third straight month in September, the Lake Carriers’ Association (LCA) said, adding that the 7,014,295 tons moved represented an increase of nearly 14 percent compared to a year ago