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
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
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.
APL today won the Best Trans-Pacific Shipping Line accolade at the 28th Asian Freight & Supply Chain Awards (AFSCAs). This is the third time in four years that APL has emerged as the preferred liner in this category, following wins in 2011 and 2012.
Leading U.S. carrier in the Pacific, Matson, Inc., informs it will release its financial results for the Second Quarter 2014 on Thursday, July 31, 2014. President and Chief Executive Officer Matthew Cox and Senior Vice President and Chief Financial Officer Joel Wine will discuss the results for
Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the first of six similar vessels ordered at JMU, with expected deliveries until the 3rd quarter of 2015.
The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) today issued the following statement: After several days of productive contract talks, both parties concluded negotiations on Friday afternoon.
The Royal Australian Navy ship HMAS Parramatta has completed its visit to Noumea, New Caledonia, before commencing a patrol as part of Operation SOLANIA, informs the Australia Government The ANZAC Class Frigate has left Noumea after spending three days strengthening relationships with the French
Australian Defence Force (ADF) inform that its medical personnel working alongside colleagues from the armed forces of the US, Japan, Republic of Korea, Malaysia and Chile have treated almost 3000 people in the Cambodian city of Sihanoukville and the surrounding region.
XL Group strengthened its Insurance Marine team with the appointment of Mike Davies as Chief Underwriting Officer, Marine, Asia Pacific and Ian Picton as Senior Upstream Underwriter. Understanding the local industry and what is impacting it, is a key recruitment driver for XL Group
Rates for capesize bulk carriers on key Asian routes are set to slide next week as too many ships chase too few cargoes from Australia and Brazil, brokers said. There are around 32 capesize ships in ballast and currently available for charter
The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell “Jag Vidhi”, a Very Large Gas Carrier. The 1990 built vessel of about 49,701 dwt will be delivered to the buyers in the second half of 2014-15.
Royal Australian Navy frigate HMAS Parramatta has departed Port Vila, Vanuatu, after a successful visit to strengthen relationships and security cooperation with the Pacific Island nation, informs Australia's Department of Defence. During her four day stay
The U.S. Navy said that a newly released scientific report demonstrates the viability of a new method to estimate received sound levels during real scenarios and analyzes movements of satellite-tagged individuals of three species of marine mammals exposed to Navy mid-frequency active sonar around
The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) today issued the following statement: The parties have agreed to take a 72-hour break from negotiations on a new coast-wide contract while the ILWU attends to an unrelated negotiation
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 1994-built Very Large Gas Carrier (VLGC) “Jag Vishnu” [49,300 dwt (73,800 cbm)] on 8th July 2014. Last week G E Shipping had signed a contract to sell a VLGC
FMCS Statement on Labor Negotiations Between the ILWU and Pacific Northwest Grain Handlers. The Federal Mediation and Conciliation Service issued the following statement (PM / 9 July) on the labor negotiations between the International Longshore and Warehouse Union (ILWU) and Pacific Northwest
The future is maritime partnerships maintains the US Navy in a recent news release. The world’s navies must be able to come together quickly to work on common interests and things that are important worldwide. The Rim of the Pacific Exercise 2014 (RIMPAC 14) is put forward as an example of