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Rates Rise

Ship Operators Climb Aboard Higher Dry-bulk Rates

Charter rates for capesizes have risen 50 percent from lows in mid-September. Rates have risen because of increasing demand as well as customers having to pay more to persuade shipowners to take their vessels out of lay-up, reports Bloomberg. The Baltic Dry Index (BDIY), a benchmark for global commodity- shipping rates, rose 3.2 percent in London yesterday. It has jumped 37 percent since Sept. 12, when it reached a seven-month low. Source: Bloomberg  


Asia-Europe Box Rates Soar Again

A Maersk containership alongside loading (file image: courtesy Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 29 percent to $763 per 20-foot container (TEU) this week data from the Shanghai Shipping Exchange showed. It was the second consecutive week with rises of more than 25 percent for spot rates on the world's busiest route but with a combined increase of $294 it is far from the earlier announced hike by all major container shipping companies of $1,000.


Rates Rise Amid Increased Activity, Lack Of Vessels

Mideast-Asia VLCC and Mediterranean Suezmax crude tanker rates have risen due to increased activity and a lack of vessels, shipping brokers said Sept. 29. VLCC rates to Japan from the Middle East lifted to W52.5 and were heading for W55, from around W47.5 last week, brokers said as cargoes finally came on the market. Other destinations were also lifted with brokers saying W50-52.5 might be reached for Singapore and China and W52.5 for Korea for modern vessels.


Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers said on Wednesday. Rates for the one million barrel tankers have lifted to around 100 Worldscale points on fixtures from West Africa and the North Sea to the U.S., and on cross Mediterranean and North Sea routes, brokers said. "Suezmax rates are going to sky rocket if Iraqi exports come back next week," one broker said.


Betting Big LNG Rates Will Rise

Gas is big and growing, as rates for LNG hauling tanker rise for a third year, fueled in part by demand from Japan. According to a Bloomberg report, rising Japanese demand means that Golar LNG Ltd., which operates nine LNG tankers and is controlled by John Fredriksen, will report a threefold gain in 2012 net income, according to the mean of 11 analyst estimates in a Bloomberg survey. Golar is reactivating four-decade-old mothballed ships after rates doubled in 2011 and are forecast by


TEN Charters up to Two Suezmax Shuttle Tankers

Tanker spot rates rise as oil price drops Tsakos Energy Navigation Ltd., a crude, product and LNG tanker operator, reached an agreement for a long-term time charter to a national oil company of a new DP2 suezmax shuttle tanker for delivery in the first quarter of 2017, with an option for a second vessel. This project will make a positive contribution to TEN’s bottom line. Shuttle tankers are a highly specialized sector


MarAd: Cruise Occupancy Rates Rise

During the second quarter of 2006, occupancy rates on North American cruises rose to 112 percent, the highest second quarter occupancy over the last 4 years, according to figures released by the U.S. Department of Transportation’s Maritime Administration report, “North American Cruises” (Table 1).[1] The report found that 15.7 million passenger nights were booked on North American cruises, up 2 percent from the same period a year earlier. About 2


Hvide Marine To Be Renamed Seabulk International

Hvide Marine Inc. reported a net loss of $9.6 million for the fourth quarter ended December 31, 2000, on revenues of 80 million. In the year-earlier period, the company had a net loss of 197 million, including charges related to its reorganization, on revenues of $76.8 million. Operating income in the fourth quarter of 2000 was 8.1 million versus an operating loss of $11.8 million in the fourth quarter of 1999. For all of 2000, the company reported a net loss of $29 million or 2


MOL Warns Large Net Loss in 2012

Mitsui OSK Lines' financial statement for Q3, December 31, 2012, underlines a stagnant shipping market. Excerpts from the statement follow: Looking at the maritime shipping market conditions, in the dry bulker market, conditions for all vessel types continued to stagnate because the number of new vessel deliveries was consistently high from the start of 2012, preventing further improvements in the balance of supply and demand.


Registration Open for SHIPPINGInsight Fleet Optimization Conference

The producers of the SHIPPINGInsight Fleet Optimization Conference have announced that online registration is now open.  Following a successful inaugural conference in 2012, the 2013 event will take place October 22-24 at the Sheraton Stamford Hotel in Stamford, Conn. It will bring together senior executives from shipowners, ship managers, classification societies, regulatory bodies, consultancies and suppliers to address the pressing issues facing fleet operators in the current


Asia-Europe Box Rates Fall Again

File Image (Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.


Baltic Index Slips Below 300 Points

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped below 300 points on Thursday, to an all-time low.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


Baltic Index Records New Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low for the ninth straight session on Friday as concerns of slow global demand outweighed gains for the large-vessel segment.  


Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


Baltic Sea Freight Index Flat

Press release - The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities was unchanged on Tuesday, as rising demand for capesize or large vessels typically carrying iron ore and coal was countered by falling demand elsewhere.  


Asia-N.Europe Box Rates Up 156 pct

File Image: A Maersk containership alongside during cargo operations.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 156 percent to $703 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Shipping Exchange told Reuters.


Trafigura Expects Tougher Shipping Markets in 2016

Commodities trading firm Trafigura expects tougher conditions in tanker markets next year as weaker world economy prospects and a slide in oil prices are set to take their toll on shipping. Bargain hunters picking up cheap crude after the price drop and refineries


Baltic Index Up as Demand for Bigger Vessels Lends Support

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday after reaching an all-time low on Wednesday.   The overall index rose 6 points, or 1.27 percent, to 477 points, helped by steady demand for bigger shipping vessels.


Baltic Index Higher on Firm Panamax Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, inched up on Monday, helped by firmer panamax rates.   The overall index rose one point, or 0.21 percent, to 478 points.  


Baltic Index Inches Higher on Strong Panamax Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, supported by rising demand for panamax vessels.   The overall index, which gauges the cost of shipping cargoes including iron ore, cement, grain and coal


Baltic Index Up on Panamax, Capesize Demand

A Valemax bulk carrier alongside during loading (file image: Vale)

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday primarily on improved rates for large vessels. The overall index, which gauges the cost of shipping cargoes including iron ore, cement, grain and coal


Asia-Europe Box Rates Inch Up

The Maersl Kalmar (file image: Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 2.7 percent to $573 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. Average rates for 2015 were $607


US Crude Inventories Rise Unexpectedly

U.S. crude stocks rose unexpectedly last week on a bigger-than-expected build in distillate and gasoline inventories and higher imports, data from the Energy Information Administration showed on Wednesday.   Crude inventories rose by 2


Tianjin Blasts a Blip as Marine Insurance Prices Keep Falling

Reinsurance rates in the marine sector continued to fall at the start of the year, in spite of the huge cost of explosions at China's Tianjin port last August, reinsurance broker Guy Carpenter said on Thursday.   Rising competition to offer reinsurance and slower activity in China


Box Rates Drop, Chinese New Year No Help

File Image:Maersk

Falling shipping freight rates for transporting containers from Asia to Northern Europe on Friday showed there was no traditional surge in cargo exports from China ahead of the Chinese New Year, indicating a bleak outlook for the industry.






 
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