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Pacific Capesize

SS&Y Capesize Indices

SS&Y Pacific Capesize Index Plummets 243 Points Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 243 points to 5,259 in the week ending May 8. "The Pacific Capesize index fell after the holidays in the Far East, with early vessels becoming the victims of a lack of inquiry," SS&Y said. "A $1 fall on the Queensland/Rotterdam route (120/150,000 ton cargo) was certainly not going to help the index, which witnessed its first serious decline since January," SS&Y added. SS&Y Atlantic Capesize Index Drops 131 Points Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index fell 131 points to 4,786 in the week ending May 8. "The Atlantic Capesize index dived on the back of weaker demand, which softened rates for early tonnage. However, iron ore demand in the Atlantic remained steady and limited the fall in rates to more moderate levels," SS&Y said. "There seems no real major cause for concern as the weakening was in line with the usual post-holiday malaise, and demand should begin to pick up in the near future," SS&Y said.


SS&Y's Pacific Capesize Index Rises 912 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 912 points in the week ending Monday to 4,199. Problems with a dedicated vessel loading at Richards Bay for South Korea, along with increased Japanese activity, produced a firmer Pacific market, which saw a strong gain in the Pacific index, SS&Y officials reported, adding that several of the index's component routes firmed to over $2 a ton.


SS&Y Capesize Indices Mixed

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 16 points to 4,444 in the week ending Dec. 13. "Rates in the Pacific have remained on or around previous levels despite increased tonnage availability and light fixing in the region," SS&Y reported. SS&Y's Atlantic Capesize Index rose 146 points to 4,571 in the same week. "Despite limited activity, tight Atlantic tonnage lifted trans-Atlantic rates accordingly," SS&Y reported


SS&Y Capesize Indices Fall

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 152 points to 4,194 in the week ending Nov. 1. "The index fell as only Chinese cargoes remained very active, with brokers indicating that trans-Pacific rates for west Australia/China had held up to the softening trend," SS&Y reported. SS&Y 's Atlantic Capesize Index fell 242 points to 4,218. "A lack of early cargo and the standard 161,000 dwt Hyundai vessel fixing in the high teens rather that the low twenties last week led


SS&Y Capesize Indices Both Rise

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 76 points in the week ending Monday to 5,060. "The index rose back above the psychological 5,000 barrier despite a relatively quiet week," SS&Y said. "Japanese steel production was down on last month's highs but still remains a force to be reckoned with and South Africa is drawing tonnage away from the Pacific, giving further cause for optimism amongst owners


SSY Indicies Rise

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 97 points in the week ending Monday to 5,572. Its Atlantic Capesize Index rose 59 points in the week ending Monday to 5,759. "Backhaul rates strengthened amid a generally active market last week and expectations are that the market will firm further this week despite holidays in the Far East," SS&Y said in reference to the Pacific Index. "Richards Bay fixtures pointed the way forward for the Atlantic market last week


Panamax Market Should Enjoy Solid Week

Increased demand in the Atlantic is likely to keep Panamax trading into positive territory this week, shipbrokers said on Monday. They said Atlantic Capesize freight rates had risen in recent days, especially for Capesizes available for early loading positions and time-charters. Reports in the sector had suggested Belgium charterer Bocimar had time-chartered a number of Capesizes lately and freight rates had risen sharply on the back of anticipated demand in the area, shipbrokers said.


Big Ship Iron Ore Freight Rates Fall

Capesize Bulker: Image CCL

Capesize iron ore freight rates in the Pacific and Atlantic fell further Tuesday, driven by lower-priced fixtures out of South Africa in the absence of Brazilian and West Australian charterers, reports Platts. Platts say they assessed the Capesize iron ore freight rate at $15.50/wmt on the Saldanha Bay to Qingdao route Tuesday, down $1.50/wmt from the previous day.
 A Japanese shipowner estimated there were presently about 30 Capesize vessels chasing cargoes in the Pacific.


Capesize Rate Jump Driven By Japanese Steel Market

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


Capesize Rates to Rise Much Higher this Year

According to Commodore Research & Consultancy, capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been able to rise by such a large amount so quickly, as vessel availability in both the Atlantic basin and Pacific basin have become tighter. Going forward, demand for capesize vessels is poised to rise even further as both Australian and Brazilian iron ore production is set to rise much further through the end of the


US Shippers, West Coast Dockworkers Union Resume Contract Talks

Photo: Port of Long Beach

Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports resumed contract talks with the union for dockworkers on Thursday, as cargo backups continued at the ports, a representative for the labor group said.  


BCG Delivers Upgrades to Long-time Customers

Image: BCG

Buffalo Computer Graphics (BCG) Inc. has recently delivered two upgrades to long-time customers Columbia Pacific Maritime in Portland Ore., and The River School in Memphis, Tenn.   The River School ordered additional laptop computers preloaded with BCG’s simulation software to assist


BMT Completes Hong Kong Port Study

BMT completes Hong Kong Port Strategic Development Study‏

  BMT Asia Pacific, a subsidiary of BMT Group Ltd, is pleased to announce the completion of The Strategic Development Plan for Hong Kong Port 2030 (HKP2030) on behalf of the Hong Kong Government. The Study is a key element in guiding local port development policy and planning investment for


Scorpio Bulkers Modifies and Sells Shipbuilding Contracts

Scorpio Bulkers Inc. announces agreements to modify and sell existing shipbuilding contracts for six capesize vessels    Scorpio Bulkers Inc. has reached agreements with shipyards in South Korea and Romania to modify six newbuilding contracts for Capesize bulk carriers into newbuilding


Pacific Basin Sells Harbor Towage Business to Smit Lamnalco

Pacific Basin Shipping Limited has sold to Smit Lamnalco its entire shareholding in PB Towage Australia (PBTA), including all its harbor towage operations and 16 harbor tugs and two additional assests (one harbor tug and one barge) currently owned by other PB companies.


Diana Enters Time Charter Contract with Clearlake

diana shipping logo.png

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter  contract with Clearlake Shipping Pte. Ltd., Singapore, a member of the  Gunvor Group, for one of its Capesize dry bulk vessels, the m/v New  York.


Diana Acquires Newbuild Dry Bulk Vessel

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from an unaffiliated third party seller, a newbuilding Capesize dry bulk vessel of approximately 180,000 dwt


Final Gate Transits the Panama Canal for New Locks

Tránsito de última compuerta al Pacífico.JPG

The Panama Canal Expansion has completed today the transfer of all gates belonging to the new locks of the Expansion in the Pacific side. The last gate that transited today completes the transfer of the eight gates to the Pacific construction side


Congress Urges Obama to Encourage Ports Resolution

U.S. Members of Congress Dave Reichert (WA-8), Cathy McMorris Rodgers (WA-5), Doc Hastings (WA-4), Jaime Herrera Beutler (WA-3), Kurt Schrader (OR-5), Greg Walden (OR-2), and Mike Simpson (ID-2) sent a letter to President Obama to ask that he encourage the International Longshoreman Warehouse


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.


Final Panama Canal Gate Transits

Final Gate Transits the Panama Canal for the New Locks in the Pacific

The Panama Canal Expansion has completed today the transfer of all gates belonging to the new locks of the Expansion in the Pacific side.   The last gate that transited today completes the transfer of the eight gates to the Pacific construction side


Keppel Listed on Global Sustainability Indices

Driven by a firm commitment to continuously strengthen its environmental, social and governance (ESG) management and strategy, Keppel Corporation's sustainability efforts have gained momentum, affirmed by inclusion on several global sustainability benchmarks in recent months.


PGS Moves Asia Pacific HQ to Malaysia

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  Petroleum Geo-Services ASA : Kuala Lumpur Becomes the New Asia Pacific Regional Headquarters As a part of the plan to restructure PGS business activities in Asia Pacific the Company has decided to relocate its regional headquarters from Singapore to Kuala Lumpur ("KL")


Navios Revenue Up 25% in 3Q 2014

  Highlights of Navios Maritime Holdings Inc. Financial Results for the Third Quarter and Nine Months Ended September 30, 2014: Revenue 25% increase to $152.6 million for Q3; 10% increase to $420.2 million for nine months EBITDA 5% increase to $42.4 million for Q3;


G6 Alliance Makes Seasonal Service Change

Pacific Atlantic 2 service has temporarily stopped calling European ports due to a seasonal change in market demand. The service portfolio between Asia and North America East Coast continues unchanged. Members of the G6 Alliance have adjusted one of its Pacific Atlantic services in response to






 
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