According to reports, the Norwegian ship brokers confirmed that the National Iranian Tanker Co. has chartered two more very large crude carriers to store unprocessed crude oil. The latest bookings raise NITC's floating storage capacity to 18.4m barrels, sources said Iran already has seven very large crude carriers under contract for use as storage. Source: Big News Network
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.
North Sea oil tanker rates surged spectacularly again on Dec. 13 on a shortage of vessels available before Christmas, shipping brokers said. Aframax 80,000 ton vessel rates shot up a further 25 Worldscale points to W150 ($5.50 per ton) from a highest seen of W125 ($4.25) on Friday, they said. "The North Sea has gone bananas. It is very tight on tonnage for modern ships up until loading dates of around December 27," a broker said.
Houlder Sells Holdings In Tanker Broker Panel Shipbroker Howard Houlder (Chartering) Ltd. has sold its shareholdings in the London Tanker Broker Panel back to the other five members of the rate-setting group, panel managing director Robert Porter said. "Howard Houlder is no longer a panel member," Porter said. "Houlder said it wished to leave and the other panelists exercised their pre-emption rights to buy the shares back."
Internet ship-brokerage Levelseas went live this week, saying it would add functionality to allow cargo-owners and shipowners to trade with each other directly before October. "This initial release of LSX is LevelSeas' first step towards building a global, web enabled freight exchange and voyage management system," said CEO Richard Hext. Hext said that cargo owners and ship owners already did "a hell of a lot" of business directly without the use of a broker
Marc La Monte - 1963-2013 Heidmar reported the unexpected passing of Marc La Monte of Wilton, Connecticut. Mr. La Monte passed away while on a business flight in Europe on the morning of October 14th. La Monte was a widely respected member of the international shipping industry for 27 years. He served as President and Chief Executive Officer of Heidmar Inc. from April 2012. Prior to becoming CEO, La Montehad been the Managing Director of Heidmar’s VLCC tanker pool
The expected return of Iraqi oil dominated the 250,000 ton tanker market in the Middle East toward the end of the week, shipping brokers said on Dec. 10. But rates were unlikely to move drastically as there were plenty of VLCCs waiting in the Middle East to find cargoes, they said. However, Mediterranean million barrel Suezmax tankers were likely to be in strong demand once it was known when Iraqi exports could restart from the Turkish port of Ceyhan.
Average Atlantic panamax earnings sank to new lows on Monday, quashing hopes that the market had bottomed out, brokers said. "We've given up predicting when the market will stop falling," one Norwegian broker said. "It's not so much of a summer slowdown, (it is) more of a summer shutdown," he added. Brokers said that charterers' offered levels for transatlantic panamax round voyages had now fallen through the $7,000-a-day barrier.
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.
MC Shipping Inc. said net income for the year ended December 31, 2003 was a record $3,091,155 or $0.37 per share, compared to a net income of $2,241,906 or $0.27 per share in 2002. The Company's earnings before interest, taxes, depreciation and amortization (EBITDA) were approximately $20.1 million and the ratio of EBITDA to interest expense was approximately 4.1 for the year ended December 31, 2003. In 2002, EBITDA was approximately $20
ITIC has recommended that brokers place a post-fixture clause at the end of recap messages to reduce the chances of exposure to severe financial loss as a result of important messages being overlooked. The following wording was endorsed by FONASBA at its recent annual general meeting in
European Shipping Week has been granted the European Parliament’s official patronage by its President, Martin Schulz. Both the European Commission and the European Parliament have now actively expressed their support for the week-long event which will be held in Brussels during March 2-6
Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson, the latest potential tie-up among sector players looking for scale after years of freight market
Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs) on key Asian routes are set to continue the rebound that started on Wednesday with a raft of new cargo requirements and upbeat sentiment
Braemar Shipping Services will buy fellow British shipbroker ACM Shipping Group in the latest industry shake-up as players look to grow after years of freight market turmoil. In the biggest deal to date, Braemar, whose businesses include ship broking
Shantanu Bhadkamkar, Immediate Past Chairman of Federation of Freight Forwarders Associations In India (FFFAI) was unanimously elected as Chairman of International Federation of Customs Brokers Association (IFCBA) at the Board of Directors Meeting of IFCBA held in Seoul, Korea recently.
The 3rd Annual Conference on Salvage and Wreck Removal in India is to be held on Thursday, July 10, 2014 for the first time in Chennai at the Hotel Vivanta by Taj - Connemara, Binny Road, Chennai 600002. The Conference this year is presented by the Institute of Chartered Ship brokers (East India
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
Royal Dutch Shell has suspended development of a liquefaction unit at Canada's Jumping Pound facility, which was to be used to develop the emerging gas for transport market. Gas liquefaction is increasingly being produced for use in transportation of large road vehicles, in trains
Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering programme for the first 20 days of August, brokers said on Friday. The pause would come after charter rates from the Middle East to
Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from
ITIC has warned shipbrokers that they face the risk of serious financial loss if they fail to ensure that all parties to fixture agreements are in possession of full, confirmed information prior to the conclusion of negotiations.
Rates for capesize bulk carriers on key Asian routes could continue to fall next week in the absence of major charterers although lower freight rates could tempt top iron ore miners back into the market and potentially buoy rates, brokers said.
Rates for capesize bulk carriers on key Asian routes are again likely to fall as the volume of tonnage limits any price gains from an increase in chartering activity, brokers said. Freight rates for a voyage from Australia to China have steadily fallen since Sept
European Transport Commissioner and Vice President of the European Commission Siim Kallas voiced his support for the launch of European Shipping Week, claiming it will help to raise the profile of shipping in Brussels "and allow for a good interaction between its multiple players and decision