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Rates Continue

Dry Cargo Rates Continue Rise In Quiet Market

Dry cargo rates continued to rise on Tuesday, but the market was quiet following Monday's Labor Day holiday in the U.S., brokers said. Cargill chartered the Ken Pan built in 1984 to ship 31,000 tons of maize from Durban to Japan 10/20 September at $22.75. The Baltic Dry Index (BDI) rose five points to 1,671, the Baltic Panamax Index four points to 1,616, the Baltic Handy Index six points to 1,169 and the Baltic Capesize Index by seven points to 2,239.

Panamax Rates Continue Steady Climb

Panamax freight rates continued to climb steadily higher as fresh cargoes supported the sector. The Panamax market started the week relatively quietly, due in part to the Presidents Day holiday in the U.S. on Monday, but market sentiment remained buoyant. With the Baltic Panamax Index providing daily reassurance that all Panamax routes are on the rise, an average increase of the four Panamax timecharter routes by around $150 daily added to the positive tone

Panamax Freights Rise, Pacific Rates Hold

Panamax freight orders picked up for Atlantic tonnage on Tuesday while Pacific rates continued to hold strong, shipbrokers said. In the short-period market, the 75,000 dwt newbuilding APJ Jit was chartered for June 20-25 South Korea delivery, booked for 3-5 months trading at a rate of $9,750 daily, they said. Brokers reported the chartering of North Friendship, a 1999-built 74,732 dwt panamax, was chartered for end-June U.S. Gulf delivery

Tanker Rates Continue To Soar

Modern vessel shortages in the North Sea are pushing Aframax and Suezmax tanker rates to year high levels. Rates for Aframax 80,000 ton vessels have repeated the year-high of W217.5($8.00 per ton) for late month U.K./Continent liftings, but brokers said June business was now played out. One million barrel Suezmax tankers were benefiting strongly from bouyant North Sea markets with transatlantic rates climbing steeply to W165-W180

Carriers Need to Act Now to Combat Recession

Drewry Shipping Consultants, maritime consultants, in a new report “Capacity Management – surviving the container crisis,” concludes that Carriers need to act now to combat the global recession. While the past six months have seen a huge amount of capacity changes in the industry, freight rates continue to plummet while the industry shirks the painful decisions that are needed to ensure their collective survival.

Seadrill CFO: Offshore oil rig rates to fall further

Offshore drilling rig rates will continue to fall in the coming period and the rate spread between old and new equipment will continue to widen, Rune Lundetrae, the chief financial officer of offshore driller Seadrill said on Tuesday. "I think we will see day rates also for new equipment coming down in this market," Lundetrae said. "No one is immune. I'm feeling relatively good about this market. But there is headwind and we all have to take that in."

Capesize Momentum Likely To Continue Through End Of Year

The momentum in the Capesize shipping markets is likely to continue across the next month, shipping brokers said. However, continued rate strength in the New Year will depend on sentiment concerning Bocimar's intentions for the vessels it has on short term charters coming up for renegotiation from February. Current optimism in rates being maintained is based on recent timecharter fixtures of $20,500 a day for a modern bulk carrier East and $17,600 on a return trip to Europe, a broker said

Container Shipping Rates Continue to Plummet

Market average for 20ft container from Shanghai to Rotterdam (Photo: Xeneta)

Due to overcapacity & economic turmoil in the market, the market index for 40ft containers has taken a massive dip, 44% from May 2012. Xeneta, the price comparison service for sea freight, found that the average container freight rates from Asia to North-Europe continues to drop to $2,564 per 40-foot container and $1,341 per 20-foot. Due to overcapacity and various economic turmoil in the market, the market index for 40-foot has taken a massive dip with it being down 44 percent from May

Container Shipping Rates Continue to Fall in June

xeneta container charts web.jpg

The market index for Asia to North-Europe is still on the decline, and the average for a 20-foot saw a 19% drop since May 26 compared to the June 26 price comparison service for sea freight, Xeneta reported. The market average for a 40-foot in Asia to North Europe performed similar with a 20% decline in container shipping rates in the same period. The rate pressure is higher than ever with the announced general rate increase on July 1

‘Excellent’ rating for UK War Risks

Excellent Rating for UK War Risks

  The UK War Risks Club announced the affirmation of its A- ‘Excellent’ financial strength rating with a ‘Stable’ outlook from the insurance rating agency AM Best. AM Best’s rating reflects the Club’s “excellent risk-adjusted capitalisation, track record of good operating performance and its established business profile as a specialist underwriter of war risk insurance for ships.”

Towing Industry Safety: AWO & USCG Joint Analysis … By the Numbers

Source: USCG

For 16 years, the National Quality Steering Committee has used three measures to track overall trends in safety and environmental protection. While not all-encompassing, the measures are considered to be useful indicators of towing industry trends. The measures are:

GasLog Orders New LNG Carrier from SHI

Photo courtesy GasLog

 GasLog Ltd. today announces that it has signed a time charter party with Centrica plc. ("Centrica") to charter a vessel for a period of seven years. The vessel, a 180,000 cubic meter LNG carrier with XDF propulsion, has been ordered from Samsung Heavy Industries

Ready for take-off? - Drewry

Tab1e 1 Note 2016 data is up to 20 October only Source Drewry Maritime Research, derived from World Container Index

The recent rally in Asia to Europe spot market rates has improved carriers’ chances of securing higher 2017 contract rates. How much extra will shippers have to fork out? It has been another typically volatile year as far as the spot freight rate market (i.e

Panamax Containerships: Is the Battle Now Lost?

Graph: Clarksons Research

 In the containership market today, Panamax sector, the charter rates rest at rock-bottom rates and the fleet is in steady and perhaps terminal decline, with scrapping at record levels. Is the battle now lost? A report by Clarksons Research.  

Top 5 Carriers to Dominate Container Shipping, Says Drewry

Photo: Hapag-Lloyd

If both APL and UASC are included within their new parents, the top five ocean carriers now control approximately 54 percent of the world’s containership fleet, says Drewry.   In 2015, the top 10 carriers were close to controlling 90 percent of the market

Asian Crude Demand Pushes Charter Rates

A typical VLCC uinderway (file image: EuroNav)

Robust Asian demand for West African crude is fueling a worldwide surge in shipping rates for the largest oil tankers that is being felt from Houston to Singapore. Chartering rates for Suezmaxes and very large crude carriers (VLCCs) have recovered rapidly in recent weeks after plunging to their

Asia Dry Bulk-Capesize Rates to Remain Steady

File Image (Credit BSM)

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

No Reprieve for Multipurpose Shipping Until 2018: Drewry

Graph: Drewry

 The last three months have been some of the worst the multipurpose and project carrier sector has endured in living memory.    The breakbulk and project cargo sector remain weak, with little suggestion that volumes will improve significantly until the end of 2017

Asia Tankers-VLCC Steady After Bumping Four-Month High

File photo: Euronav

Power struggle breaks out between between owners and charterers; West Africa cargoes hit a monthly record. Freight rates for very large crude carriers (VLCCs), which surged to a four-month high on Thursday, to hold steady as ship owners await the release of November cargoes

Piraeus Welcomes Maiden Call from Seven Seas Explorer

Left to Right : K. Leontaras, Harbour Master,  Ι. Theotokas, General Secretary of Ministry of Shipping,  I. Moralis, Mayor of Piraeus, cpt. Vasta Rosario Giovanni,  D. Bekos, Manager of Destination Services Greece,  Ι. Theotokas, General Secretary of Ministry of Shipping,  D. Spyrou, Administration Director of PPA. Photo by Piraeus Port Authority

 Piraeus Port Authority welcomed an inaugural call from Regent Seven Seas Cruises’ newest vessel on 12 October, as the luxury ship made its inaugural call to the Greek port with around 750 passengers and 650 crew members.   

Asia Dry Bulk-Capesize Rates could slide as Tonnage Outweighs Demand

A typical Capesize Bulker (credit: BSM)

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.

VLCC Rates to Hold Firm as Owners Await MidEast Cargoes

File photo: Euronav

Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs this week, are likely to hold firm as owners tread water before the release of further Middle-East and West Africa cargoes, ship brokers said on Friday.  

Rolls-Royce Wins Deal to Power USN TAO

Rolls-Royce won a contract to supply diesel generators, propellers and shaft lines for the US Navy’s new fleet replenishment oiler ships, the John Lewis Class. Planned to total 17 ships, the new John Lewis class (previously known as TAO – X) will increase the US Navy’s capability

Container Shipping Market has Bottomed Out

Photo: CMA CGM

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global

Excess Tonnage Weighs on Asia Dry Bulk-Capesize Rates

File image: a so-called ValeMax bulk carrier (Credit: Vale)

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

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