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Ship Brokerage

Argosy Transportation Group Celebrates 20 Years

Image: ATG

As part of its 20th anniversary celebration, Argosy Transportation Group (ATG) is sponsoring various professional events, and contributing toward initiatives in education within the maritime industry. ATG said it appreciates the importance of investing in young professionals, and the group remains committed to developing a platform for the future of the industry. ATG said its commitment to trust and performance in transit is evidenced by its 20-year history. The company can trace its roots back to 1996 when Argosy Shipping was established by Rider Griswold, moving its first 76-ton shipment from Antwerp to Houston. At the time, the west-gulf had urgent need for a brokerage firm that could provide multipurpose ships to project-cargo owners and to the freight forwarding community, ATG said. Argosy Shipping spearheaded the way, enabling freight forwarders to charter ships by offering contractual and operational chartering services.  During the following 20 years, the group evolved from a shipping brokerage firm, to becoming a diversified maritime transportation and logistics company, now operating three main divisions – barging, shipping and technical services – both domestically and internationally.


Baltic Index Up on Improved Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, supported by increased demand for panamaxes and smaller vessels.   The overall index that gauges the cost of shipping cargoes including iron ore, cement, grain, coal and fertiliser, was up eight points, or 2.13 percent, to 384 points.   The index has gained over 30 percent, since hitting an all-time low of 290 points on Feb. 10.  


OceanConnect Shareholders Reflect on Two Years of Growth

OceanConnect's board of directors and shareholders reflected on two years of strong growth at the company's annual meeting, held yesterday in Oslo. "I am pleased to report to our shareholders that in fewer than two years, OceanConnect has become the only fuel service combining traditional brokerage with live, online competition. The results speak for themselves: with growth of more than 40 percent per annum, the outlook is good for continued growth


Boat Show at Miami Beach Registered Strong Sales

Photo credit: Palm Beach Boatshow

Yacht & Brokerage Show in Miami Beach – attendance, exhibitors, sales up Attendance at the recent Miami Beach Boat Show based on concession sales and number of people using show transportation at the free-to-the-public event, was up more than 7 percent. Most importantly, notably strong sales activity was reported by numerous builders including Fairline, Viking, Ferretti, Hatteras, Westport and Marquis and brokerages including Allied Marine, HMY and Merle Wood, among others.


MN 100: Gencorp Insurance Group

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The Company: Gencorp Insurance Group provides the Insurance and Surety needs of Marine Contractors, Vessel Operators and Shipyards throughout the country and Caribbean. Gencorp’s Marine Group facilitates the coverage placement and claims settlement for all insureds, utilizing a team that has a Maritime Academy background or professional waterfront experience. Ask any group of Owners to design and build a full service insurance brokerage with all of the services and resources that they


Stronger Demand for Bigger Vessels Pushes Baltic Index Higher

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities extended gains on Thursday, mainly propelled by firmer demand for bigger shipping vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, climbed 30 points, or 5.29 percent to 597 points.   The capesize index rose 87 points, or about 12 percent, to 831 points, its highest this year.  


ACL Establishes National Sales Force

American Commercial Lines Inc. announced it has established a national sales force in key geographic locations. The Regional Sales Directors include Mr. Vanta Coda -- Gulf Region, Mr. Gabe Forir -- Midwest Region, Mr. Michael Wiercinski -- MidAtlantic/Northeast, Mr. Neil Grossman -- Southeast Region, Mr. John Bryan -- Pittsburgh, and Mr. Sean Smith -- Ohio River Valley. The new directors have extensive backgrounds in rail, barge, 3PL logistics, chemical transportation


Genco to Extend Charter for Handymax Vessel

Genco Shipping & Trading Limited announced it has reached an agreement in principle to extend the time charter for the Genco Marine, a 1996-built Handymax vessel currently on charter with NYK Bulkship Europe S.A. The extended time charter would be for an additional eleven to thirteen months at a rate of $24,000 per day, less a 5% third party brokerage commission. The time charter, subject to completion of definitive documentation


Genco Takes Delivery of Second Capesize Vessel

Genco Shipping & Trading Limited has taken delivery of the Genco Tiberius, a January 2007-built 175,000 dwt Capesize vessel. The Genco Tiberius is the second vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capesize vessels from companies within the Metrostar Management Corporation group. The Genco Tiberius is currently on charter with Cargill International


Genco Shipping Time Charters

Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to enter into a time charter for the Genco Commodus, a Capesize newbuilding, with Morgan Stanley Capital Group Inc. for 23 to 25 months at a rate of $36,000 per day, less a 5% third-party brokerage commission. The time charter for the Genco Commodus will commence upon delivery of the vessel, which is expected during July 2009, and is subject to the completion of definitive documentation.


Stronger Capesize Rates Perks Up Baltic Index

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose on Friday, supported primarily on improved demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Rises to Five-month High

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, on Tuesday rose to its highest in over five months on improved rates across vessel segments.   The overall index, which factors in rates for capesize, panamax


Maersk Mulls Acquisitions after Surprising Profit

File Image: a Maersk containership alongside (Maersk)

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter, putting the cash rich company in a strong position as the struggling industry consolidates.


Baltic Dry Bulk Index Dips on Weak Demand

File Image: a FedNav bulk carrier alongside in the St. Lawrence Seaway

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued to dip on Wednesday due to sluggish demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Oil Rises Towards $31 on Hopes of Deal

Oil rose on Tuesday to above $31 a barrel on hopes that OPEC and non-OPEC producers were inching closer to a deal to reduce output in the face of one of the biggest supply gluts in decades.   The Organization of the Petroleum Exporting Countries is making renewed calls for rival producers


Iran Slowly Offloads Stockpiled Oil

Iran is slowly winding down stocks of oil stored on tankers close to its shores and the process is likely to take longer than Tehran had wanted, despite the lifting of international sanctions this month. The pace of sales taken from floating storage highlights the difficulties Iran is facing


HMM Seeks New Buyer for Broker Stake

South Korea's Hyundai Merchant Marine Co Ltd (HMM) plans to seek another buyer for its majority stake in stock brokerage Hyundai Securities Co Ltd , an HMM spokesman said on Monday. HMM's talks to sell its entire 22.4 percent stake in the brokerage to Japan's Orix Corp for about 647 billion won


Hyundai Merchant Marine Plans Asset Sale

Photo: Hyundai Merchant Marine Co

 Hyundai Merchant Marine Co. (HMM), is resurrecting an asset-sale plan in an effort to stave off bankruptcy as it reels from a crisis in the shipping industry brought on by slowing global trade, says WSJ.   The Seoul-based company plans to seek another buyer for its majority stake in


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


ISS Announces US Customs Brokerage Services

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ISS Brokerage Services, part of maritime and logistics service provider Inchcape Shipping Services (ISS), is now providing U.S. Customs brokerage services across all North American ports. The new facility has been introduced after US Customs and Border Protection (CBP) granted a


US Drillers Cut Oil Rigs for 11th Week Straight

U.S. energy firms this week cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as Exxon Mobil Corp and other producers slashed their drilling rig count to focus on uncompleted wells amid low oil prices.  


MarineMax Expands into Yacht Management, Placement, Chartering

Bill McGill, MarineMax President and CEO Photo MarineMax

At a special press event held at the Palm Beach International Boat Show, MarineMax announced today that they are expanding into yacht management, crew placement and charter of luxury megayachts.  Bob Saxon Associates, has joined MarineMax as part of the new endeavor that will be headquartered


Baltic Index Rises as Capesizes Continue to Support

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, on surging capesize demand and improved activity across vessel segments.   The overall index, which factors in rates for capesize, panamax


Crowley Combining Puerto Rico Facilities

Photo courtesy of Crowley

Further reinforcing its commitment to the Puerto Rico market, Crowley Maritime Corp. is enhancing its total suite of shipping and logistics solutions for consumers and businesses with the consolidation of its Caribbean logistics services into a single new facility in Guaynabo, Puerto Rico.


KB Fin Buys Hyundai Securities Stake for $1.1 Bln

Photo: Hyundai Merchant Marine

South Korean banking group KB Financial Group Inc is acquiring a controlling stake in brokerage Hyundai Securities Co Ltd for 1.25 trillion won ($1.09 billion) in a high-priced bet on diversification.   About two-thirds of KB Financial's 2015 net profit came from its banking unit






 
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