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 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
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
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.
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 firmed again worldwide, but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of Suez with both Chinese and Japanese charterers active in the Indian Ocean and the Pacific, while Atlantic Handysize conditions remained in the doldrums, they added. On Feb. 23, the Baltic Dry Index (BDI) rose 10 points to 1,491, the Baltic Panamax Index gained one point to 1,419, The Baltic Capesize Index jumped up 27 points to 2
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, has announced that it has taken delivery of M/V Star Sirius a Post - Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity.
Reuters - A unit in Colombia of Toronto-based oil firm Pacific Rubiales launched a tender to sell two 1-million-barrel cargoes of heavy Castilla crude for delivery in April, according to an invitation seen by Reuters on Monday. Pacific sold to Norway's Statoil one 500
Reuters – Overcapacity threatens to derail a fragile recovery in the global shipping sector as ship owners and investors place orders for new vessels betting on better times, according to a recent survey. Ship owners ordered large numbers of vessels between 2007 and 2009
Reuters - Ministers in 12-nation Trans-Pacific trade talks said on Tuesday they have made progress trying to finalize a deal during a four-day meeting in Singapore, but several issues remain, particularly questions over market access. "While some issues remain
Woods Hole Oceanographic Institution (WHOI) has teamed up with the public to build the most comprehensive and up-to-date dataset on marine radiation levels in the aftermath of the 2011 Fukushima Dai-ichi Nuclear Power Plant disaster. With no U.S
Members of the G6 Alliance released details on port rotations for the proposed service expansion to the Asia-North America West Coast and Trans-Atlantic trade lanes, announced in early December last year. Subject to the completion of regulatory review process
Watkins Syndicate Singapore Pte. Ltd. has appointed two senior underwriters to bolster its expanding presence in the Asia Pacific region. Watkins Syndicate Singapore, which is part of the Lloyd’s Asia Platform and represents Watkins Syndicate 457 at Lloyd’s
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has taken delivery of M/V Star Vega, a Post-Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity.
Highlights: Knightsbridge reports net income of $3.0 million and earnings per share of $0.10 for the fourth quarter of 2013. Excluding the results from discontinued operations, the company reports net income of $3.5 million and earnings per share of $0.123 for the fourth quarter
Pacific Drilling says that the latest in its fleet of 5 of new ultra-deepwater drillships is in service. Two additional drillships are under construction at Samsung Heavy Industries for delivery in 2014, and an eighth rig is under construction for delivery in March 2015.
The Board of Directors of Matson, Inc. a leading U.S. carrier in the Pacific, has declared a first quarter 2014 dividend of $0.16 per common share. "Today's declaration reflects the solid foundation of our core businesses and the continued confidence we hold in our ability to generate
The Transportation Club of Tacoma (TCT), the largest Transportation Club Chapter in North America, has chosen Terry Thomas, president and one of the founders of his company PNW Equipment Inc., as their 'Person of the Year 2013'. TCT explain in a brief biography that Terry Thomas
BMT Asia Pacific (BMT) has launched two comprehensive tools for assessing port competition and managing commercial risk. The Port Choice Model and Port 360° evaluate the competitive advantage of a given port within its environment
The progress we have made in understanding and funding manpower shortages, establishing and funding defendable maintenance requirements, stabilizing procurement accounts, and the successful deployment of the littoral combat ship USS Freedom to the Western Pacific have led me to reassess the N96
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