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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. “The show was a tremendous success this year,” said Andrew Doole, senior vice president and COO of Show Management. “We had more exhibitor participation and the reports are of more qualified buyers than recent years, both signs of a strong industry and a strong show.” “This year’s Yacht & Brokerage Show was the busiest Miami show Denison Yacht Sales has ever had,” said owner, Bob Denison. “We introduced the Monte Carlo 76 to the U.S. market and our displays in TrawlerPort and at Beneteau Gran Turismo were slammed every day. Two Beneteau Swift Trawlers and eight Gran Turismos were sold at the show.” For sale at this year’s show were two of the largest yachts ever offered at The Yacht & Brokerage Show: a 200’ Benetti, Diamonds Are Forever, and a 191’ Trinity, Carpe Diem. Both garnered attention from qualified buyers


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


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


MN 100: Gencorp Insurance Group

Gencorp.jpg

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


CP Ships Extends Selling Program

CP Ships Limited today announced an extension until May 7, 2003 at 5:00 pm of its selling program for holders of fewer than 100 shares. The sale of shares will continue to be executed through the Toronto Stock Exchange. Originally scheduled to expire on February 7, 2003, the program, which is voluntary, allows shareholders owning 99 or fewer shares in CP Ships as of the November 7, 2002 record date to sell all of their shares without incurring brokerage commissions


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.


Ryan Joins Customized Brokers as Logistics Specialist

Christopher Ryan Joins Customized Brokers as Perishables Logistics Specialist.     Customized Brokers, the Miami-based customs brokerage specializing in the clearance of fresh produce into the United States, has named Christopher Ryan as perishables logistics specialist for the Northeast. He is based in Pennsauken, N.J., and reports to Customized Brokers General Manager Nelly Yunta. In this position, Ryan is responsible for business development, customer service


Denison Yacht Sales Adds to its Team of Brokers

Bob Denison (Photo: Denison Yacht Sales).

Fort Lauderdale, Fla., and Marina Del Ray, Calif. - Denison Yacht Sales, a full-service global yacht brokerage and yacht charter firm, recently hired eight new yacht brokers and a charter fleet manager. The new hires will expand the company's presence at its Florida and California offices.      Joining the Fort Lauderdale brokerage are Skip Denison, Juan Pasch, Peter Quintal, and Gene Echols.  Pasch will specifically be assisting in the sale of new Beneteau G.T.'s


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


Weak Capesize Rates Depress Baltic Index

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


Dry Bulk Shipping Record Low a Warning for Global Economy

A slump in dry bulk shipping is set to worsen as the meltdown in global commodities and too many ships free for hire rock the sector used by investors to gauge the health of world trade.   Slower coal and iron ore demand from China - the world's biggest industrial importer - have battered


Damen Trading Launches New Website

Photo: Damen

The new website for Damen Trading, the brokerage department of the Damen Shipyards Group, integrates Damen corporate house-style as well as an improved profile of services that includes registration, transport and even vessel modifications if required


Cosco, China Shipping Merger Gets Green Signal from Beijing

Photo: China Ocean Shipping Co. (COSCO Group)

 China State Council has given the go-ahead for country's two largest shipping conglomerates to merge, continuing a trend in the industry to trim down state-owned enterprises, reports Caixin Media.   The China Ocean Shipping Co. (COSCO Group) and China Shipping Group Co


Asia-Europe Box Rate Drop Continues

Image: a Maersk containership alongside during cargo operations (Maersk)

Freight rates on world's busiest route down 20.6 pct; forward contracts indicate continued weak 2016 market. Shipping freight rates for transporting containers from ports in Asia to Northern Europe plunged by 20.6 percent this week and there is nothing to indicate that shippers can expect


Marine Fuel Management Tech Launched in Mexico

Photo: Royston

Diesel power specialist Royston has expanded the worldwide distribution network for its Enginei marine fuel management system with new sales representation in Mexico.   The newly created IntellFuel de Mexico will provide sales, distribution and technical service support for the Enginei


New Online Tool Links PMSCs with Potential Clients

Photo courtesy of Marsec Manager

Ship owners and managers now have the chance to choose the most cost-effective private maritime security company (PMSC) to protect their ships via a new online tool launched Monday.   The online program, known as Marsec Manager, is the brainchild of Bastion International


UK Marine Industry Continues Growth

File image: UK Flag

UK marine industry grows for fourth consecutive year; new figures released at the London Boat Show 2016   The U.K. leisure, superyacht and small commercial marine industry continue to grow, according to new statistics published today by British Marine at the London Boat Show 2016.  


Baltic Sea Index Hits All-time Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying industrial commodities, slumped to an all-time low on Wednesday as gloom over global demand and too many ships for hire continued to batter prospects.   The overall index


Baltic Index Hits Record Low for 12th Straight Session

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, plunged to a new record low for the 12th straight session on Wednesday amid concerns over vessel oversupply and low demand.  


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






 
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