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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.


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


Sea Level Rise Accelerating in U.S. Atlantic Coast “Hotspot”

Rates of sea level rise are increasing three-to-four times faster along portions of the U.S. Atlantic Coast than globally, according to a new U.S. Geological Survey report published in Nature Climate Change. Since about 1990, sea-level rise in the 600-mile stretch of coastal zone from Cape Hatteras, N.C. to north of Boston, Mass. -- coined a “hotspot” by scientists -- has increased 2 - 3.7 millimeters per year; the global increase over the same period was 0.6 – 1


Oil Edges Below $99 but Supply Risks in Focus

Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.S. dollar. Threats to supply as Libya's output fell and talk of OPEC production cuts limited the decline for


Upcoming Winter Tanker Market Same as Last Year?

Winter oil demand versus average annual demand: Image Poten & Partners

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the regular US baseball season is winding down, the fans are looking forward to the playoffs


Port of LA Container Volumes Strongest Since 2010

Photo courtesy of MARAD

The Port of Los Angeles has released its August 2014 containerized cargo volumes. In August 2014, overall volumes increased 6.7 percent compared to August 2013. Total cargo for August was 757,702 Twenty-Foot Equivalent Units (TEUs). It’s the busiest single month at the Port since August 2010


Shippers Must Reduce Costs, Boost Efficiency

Michael Wilson

So what’s keeping ship operators awake at night these days?  Plenty, it seems. Sluggish recovery from a lingering worldwide recession, unsustainable debt loads, endemic overcapacity in most shipping trades, punishing freight rates


Offshore Oil Drilling Market to Suffer through 2015

Photo: Seadrill

A sluggish offshore drilling market could deteriorate further next year due to weak demand and a flood of new vessels, even though a few places such as Mexico and Brazil remain promising for exploration, industry executives said on Wednesday.


Brent Crude Hits 16-month Low Under US$99

HFO: File image

Brent crude dropped to a 16-month low under $99 per barrel on Wednesday, stretching its losses into a fifth session amid continued worries about rising supplies and weak global demand. While a larger-than-expected fall in weekly U.S. crude stocks kept a floor under oil prices


Oil Falls As Weak U.S. Jobs Data Adds to Demand Worries

  Crude oil futures fell on Friday and ended the week more than 2 percent lower as disappointing jobs data from the United States cast doubt about the strength of economic growth in the world's biggest oil-consuming economy. U.S. jobs figures showed nonfarm payrolls increased by just 142


Oil Inventories Higher, Crude Demand Lower: PIRA

Oil tanks: File image

NYC-based PIRA Energy Group reports that oil inventories are higher and crude demand is lower. In the U.S., stock surplus to last year is roughly flat. In Japan, crude stocks draw amid peak run rates. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:


Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas, even as it kept investing in electricity storage. Turnover fell 5.2 percent to 5.1 billion euros ($6


Policy Uncertainty Threatens to Slow Renewable Energy Momentum

Photo courtesy of IEA

IEA forecast sees renewable power as a cost-competitive option in an increasing number of cases, but facing growing risks to deployment over the medium term. The expansion of renewable energy will slow over the next five years unless policy uncertainty is diminished


DNV GL & MMGI Take Global Risk Identification Initiative

Tsunami hazard sign: File photo

The partners inform that a new global initiative launched by DNV GL and Monday Morning Global Institute (MMGI) aims to identify opportunities for sustainable responses to a range of global risks. A series of eight workshops around the globe marks the start of the identification process


Turning Global Risks into Sustainable Opportunities

A new global initiative launched by DNV GL and Monday Morning Global Institute aims to identify opportunities for sustainable responses to a range of global risks. A series of eight workshops around the globe marks the start of the identification process


Island States Battle Rising Seas, Seek UN Relief

"Frightening" prospect of rising seas - U.N.; Islands say overlooked, fault inaction over climate.   Small island states facing a "frightening" rise in sea levels will seek investments in everything fron solar energy to fisheries to boost their economies at a U.N


Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG

Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material.


Atlantic Slows Warming, Temperature Rises Seen Resuming from 2030

The Atlantic Ocean has masked global warming this century by soaking up vast amounts of heat from the atmosphere in a shift likely to reverse from around 2030 and spur fast temperature rises, scientists said. The theory is the latest explanation for a slowdown in the pace of warming at the






 
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