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.
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.
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
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
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
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
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
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.
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.
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
Dry bulk shipping company Golden Ocean Group Limited, while announcing its preliminary results for the quarter ended September 30, 2016, informed that it suffered a net loss of $26.7 million and a loss per share of $0.25 Highlights
Greek dry bulk shipping company Diana Shipping has entered into time charter contracts for its two vessels, the M/V Orleans and the M/V Melite, which are scheduled to start in December 2016. "Diana Shipping, through a separate wholly-owned subsidiary
Athens, Greece - Seanergy Maritime Holdings Corp. announced today that it has taken delivery of a 178,838 dwt Capesize dry bulk vessel, renamed to M/V Lordship and built in 2010 by Hyundai Heavy Industries in South Korea. The M/V Lordship is the first of two Capesize vessels that the Company
Capesize rates 26-33 pct higher than a year ago, but could fall towards Chinese New Year. Freight rates for large capesize dry cargo ships on key Asian routes may fall further next week as prospects for a pre-Christmas rally fade with ship supply outpacing cargo demand, ship brokers said.
Capesize rates slip from year-long highs as miners absent; owners still optimistic of Q4 rate bounce. Freight rates for large capesize dry cargo shippers on key Asian routes, which hit the highest in about a year last Thursday, are set to remain buoyant during China's week-long National Day
Owners seeking to push rates higher, close to year-long highs; dry bulk sector to see greater consolidation - BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain steady next week even as owners try to push rates up close to year-highs
Many vessels available for charter put pressure on freight rates. Freight rates for large capesize dry cargo ships on key Asian routes are set to slide next week as the number of ships available for charter outpaced cargo demand, ship brokers said on Thursday.
Zim Integrated Shipping Services (ZIM) is introducing an additional Asia-Pacific North West Trade route, CEN – (China Express Northwest service) with the following rotation: Xingang – Qingdao – Shanghai – Prince Rupert – Xingang.
Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes
Freight rates for large capesize dry cargo ships on key Asian routes, which fell to an eight-week low on Wednesday, are likely to continue to slide next week as charterers drip-feed cargoes in an over-tonnaged market, brokers said on Thursday.
An American tuna fishing company that regularly unloaded its catch in American Samoa, was convicted and sentenced today for discharging oil into the South Pacific and for maintaining false records, announced Assistant Attorney General John C
Clarksons Research Analysis examines the cumulative impact of different sectors in shipping industry and how have they fared better or worse at various points along the way. So how would a vessel delivered into the eye of the financial storm in late 2008 have fared? The Graph
The members of THE Alliance announced the details of the plan for their product starting from April 2017. THE Alliance plans to deploy a fleet of more than 240 modern ships in the Asia /Europe, North Atlantic and Trans-Pacific trade lanes including the Middle East and the Arabian Gulf/Red Sea
Rolls-Royce has signed a deal with Pacific Power Group to distribute and service Kamewa steel and aluminum series waterjets in the Western U.S., Alaska and Hawaii. Pacific Power Group, a longtime distributor for Rolls-Royce MTU diesel engines, has been providing sales
Maritime Strategies International (MSI) is forecasting a firm festive season for the dry bulk market, swiftly followed by a New Year comedown. In its latest Dry Bulk Freight Forecaster* MSI notes that after a steady fall in average daily TCE spot earnings in October