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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  


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.


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


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.


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


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


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


Seabulk Reports 4Q Results

Seabulk International, Inc. has reported a net loss of $6.3 million for the quarter ended December 31, 2001. Included in the loss for the quarter is a writedown of $1.4 million or $0.13 per diluted share on the planned disposal of the company's inland barge and shipyard operation, part of an ongoing program to refocus the company on its core business. In the year-earlier period, the Seabulk had a net loss of $9.6 million or $0.96 per diluted share. Revenues of $84.2 million in the


Baltic Sea Freight Index Flat on Muted Vessel Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity.   The index, which factors in the average daily earnings of capesize, panamax


Baltic Sea Freight Index up on Higher Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday on higher rates for capesize vessels.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


Baltic Index up With Rising Capesize and Smaller Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued to rise on Monday, supported by positive capesize and smaller vessel rates.   The index, which factors in the average daily earnings of capesize, panamax


Higher Rates Across All Vessel Segments Propels Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday, propelled by higher rates across all vessel segments.   The index, which factors in the average daily earnings of capesize, panamax


Asia VLCC Rates: Ample Tonnage, Few Cargoes

Owners resist charterers moves to force rates under W50; West Africa cargo volumes remain steady. Rates for very large crude carriers (VLCCs) on key Asian routes will face further pressure next week even as owners resist attempts to push rates lower, brokers said.


Baltic Index Advances with Rising Cry Commodity Vessel Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, was lifted on Thursday by higher demand across all vessel segments.   The index, which factors in the average daily earnings of capesize, panamax


Baltic Sea Freight Index Up

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose Monday on higher demand for smaller vessels. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize vessels, rose three points, or 0


Stronger Panamaxes Boost Baltic Sea Freight Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, made minor gains on Thursday on higher rates for the panamax and smaller vessel segments.   The overall index, which factors in average daily earnings of capesize, panamax


Port of Rotterdam 2014 Profit Dips

The Port of Rotterdam Authority said on Thursday its net profit for 2014 fell 4.9 percent to 215 million euros ($237 million) on higher financing costs. Europe's largest port has been investing for years in the construction of "Maasvlakte 2," a 1000 hectare extension


Softer Panamax Rates Drag Down Baltic Index Slightly

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged down slightly on Monday as rates for panamax vessels fell. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser


China’s LNG Terminals Underutilized

Pic: China National Offshore Oil Corp

 According to an Interfax analysis of customs data, China used just over half its LNG regasification capacity in 2014, as tariff hikes and cheaper competing fuels hit gas demand growth.   Slow downstream demand, driven by rising natural gas prices and sluggish GDP growth


LNG Shipping Rates Nosedive

LNG Ship (Source: Shell)

 With LNG prices down as slowing demand combines with rising output, the cost to ship super-chilled natural gas has also tumbled to the lowest level in more than four years and is forecast to fall further, reports Bloomberg    According to Andrew Buckland


Baltic Index Edges Higher on Capesize Gains

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for the second consecutive day on Friday on higher rates for capesizes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement


Baltic Index Rebounds Slightly from Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged up slightly on Thursday on higher rates for panamaxes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain


Second Bulk Shipper Files for Bankruptcy

Photo: Winland Ocean Shipping Corp

Dozens of iron ore and coal carriers idled as Baltic dry index falls to all-time low. A second dry cargo shipper has filed for bankruptcy following a collapse in freight rates that has forced many companies to idle vessels used to haul iron ore






 
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