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Ship Brokering

Clarkson Shares Surge

Shares in Horace Clarkson Plc surged 14.3 percent on Wednesday after the British shipping broker said its year turnover and profit was expected to "very substantially" exceed market expectations – (Reuters)


Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers contend. 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.


First Tanker Fixed For Next Phase Of Oil For Food Deal

The first tanker to carry Iraqi oil exports under the next phase of the U.N. "oil for food" deal has been chartered subject to the program being extended, according to shipping brokers. The Panamanian-registered VLCC Kristhild has been fixed to Russian trader Ursa to sail from the Gulf port of Mina al-Bakr to the U.S. Gulf, provided the United Nations and Iraq reach an accord to continue exports beyond Nov. 20. The 258


FONASBA calls for clarity

The Federation of National Associations of Ship Brokers and Agents (FONASBA) has called for more clarity in ship agents' rate structures. Speaking at the federation's recent annual meeting in Portugal, FONASBA president Edouard de Clebsattel said, "The relationship between the principal and the ship agent is one built on trust. It is important for that trust that principals understand clearly how they are being charged and what the fees cover


Wave of New Bulk Carriers Expected to Upset Freight Rates

Some shipping brokers expect spot freight rates for Panamax bulk carriers to decline next spring when a large number of new bulk carriers enter service. About 100 newly built bulk carriers with cargo capacities of 50,000 to 80,000 tons are to be delivered in 2001, up from about 70 vessels this year, possibly causing rates to fall, the brokers said. Spot rates for Panamax bulk carriers for the U.S. Gulf/Japan route have recently risen to three-and-a-half year highs.


Oil Tankers Booked Off US Gulf For Storage

According to a report from The Wall Street Journal, two oil tankers have been booked for use as floating storage vessels off the U.S. Gulf Coast this month, shipping brokers told Dow Jones Newswires on June 27.   Source: The Wall Street Journal


Tanker Rates React To OPEC

Tanker rates to the West firmed as charterers and operators took on board the implications of OPEC's decision to raise oil output, brokers reported. Rates of W68.5 ($11.50 per ton) for 280,000 tons to Europe and 255,000 tons to the U.S. Gulf ($11.75) were a Worldscale point or so above last done, brokers said. But the market appeared to be acting in a schizophrenic manner to the Far East where rates at best held for South Korea at W77.5 (about $7


Increased Activity Can't Budge Moribund Rates

A flurry of activity in the main Middle East large tanker markets failed to move rates from their moribund levels last week, shipping brokers said. However, with November cargoes having become available recently, some brokers said some firming of freight levels could be expected. Others, though, said that the large numbers of vessels - including modern ships - likely to be available over the next two months will limit any rate movement.


Brokers See End To Tanker Slide

A continued slide in Middle East tanker rates to near year lows was expected to end this week by the emergence of Saudi stems and a resumption of Iraqi exports, shipping brokers said. VLCC tanker operators' earnings hit their lowest levels yet this year as a result of a combination of heavily depressed Middle East tanker rates and fixtures plus high bunker prices, brokers said. With only eight VLCCs fixed from the Middle East last week, rates to Japan fell to W45 ($4


OPEC Output Increase Could Cause Tanker Shortage

Any easing of OPEC oil output restraints would be unlikely to create a shipping shortage despite charterers currently avoiding older tankers, ship brokers and analysts said. Signs that OPEC oil producers could relax their four million barrel a day output restraints in April which have lifted Brent oil prices to over $27.00 a barrel, were unlikely to cause demand to outstrip tanker supply, they said. This was despite charterers seeking to use newer vessels since the 25-year-old tanker Erika


IYC Names its Brokers of the Year

Barbara Stork Landeweer

International Yacht Collection (IYC) iannounced that Frank Grzeszczak and Barbara Stork Landeweer are the company’s  2013 Yacht Broker and Charter Brokers of Year, respectively. Representative of a banner year for IYC, both brokers played a pivotal role in promoting the superyacht


High Cost of English Litigation for Shipbrokers

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A survey of London solicitors by ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts. ITIC gave a panel of London solicitors – all of whom had previously been instructed on cases involving ITIC members – a hypothetical


Litigation Can Cost Shipbrokers an Arm & a Leg

File photo CCL3

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts, reports trade association Maritime London. Indemnity insurers ITIC gave a panel of London solicitors – all


Court: Japan's Mitsui Paid to Release Ship

A MOL Handymax bulker, Zebra Wind. Photo: MOL.com

China Supreme Court says Mitsui pays about $29 mln; Ship released about 0030 GMT Thursday. Ship was seized over dispute dating back to 1930s. Advisor to plaintiffs says will likely demand more money. Japan's Mitsui O.S.K. Lines Ltd paid about $29 million for the release of a ship seized by


Invoicing Error Lays Massive Bill on Shipbroker

Photo: ITIC

ITIC revealed how an invoicing error led to a shipbroker being asked to foot the bill for a bunker supply amounting to more than three-quarters of a million dollars. In its latest Claims Review, ITIC cites the case of a chartering broker which arranged a fixture for a voyage from the Black Sea


White & Case Publish New Marine Industry Report

Global law firm White & Case LLP announced the availability of a new report, "Restructuring & Beyond: The marine industry's routes to safety." The report focuses on survival strategies for those affected by the industry's downturn as well as emerging opportunities for companies


GAC Awarded Customs Broker's License

GAC, a global provider of integrated shipping, logistics and marine services, said it continues to strengthen its presence and services in the U.S. by obtaining a Customs Broker's License with a National Permit 13-047. This follows the Group’s recent C-TPAT certification


Back Bunker Trader Rejoins KPI

Jordan Felber

KPI Bridge Oil, a global broker and trader in marine bunkers, marine lubricants and risk management products, has appointed Mr. Jordan Felber as Bunker Trader/Broker in its New York Office. Jordan initially joined KPI Bridge Oil in 2008 from a position with Global Transportation Services as


Heidmar CEO Marc La Monte Passes Away

Marc La Monte (Image: http://www.heidmar.com)

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


Dan-Bunkering Dips a Toe in Brokering

A/S Dan-Bunkering Ltd., is slowly expanding into a new area, the broker business, by setting up a small in-house broker department in the company’s head office in Middelfart, Denmark. This new initiative has been launched to support the requirements from a number of specific clients.


Bogatch-Genossar Recognized by N.Y./N.J. Freight Forwarders

Lea Bogatch-Genossar

Lea Bogatch-Genossar, ZIM's Americas, Canada and Caribbean Area President, has been named Person of the Year by the New York/ New Jersey Foreign Freight Forwarders and Brokers Association. Ms. Bogatch-Genossar will be honored at the 97th annual association dinner on January 22


ITIC: Broker Follow-up Vital in Fluctuating Markets

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ITIC says that the failure of shipbrokers to follow up on time-sensitive messages can have serious financial consequences, particularly in fluctuating spot markets. In its latest Claims Review, ITIC cites the case of a ship fixed for a trip time charter for two voyages


Safe Harbor Unveils Online Broker Portal

In the first phase of a new website rollout, Safe Harbor Pollution Insurance (SHPI) delivers the ultimate in electronic convenience with its My Harbor broker portal. This industry-leading platform enables real-time policy and claim access, empowering brokers to better service customers.  


Uruguayan Citrus Cleared for U.S. Delivery

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Crowley Maritime Corp.’s Miami-based subsidiary Customized Brokers recently cleared the first shipment of Uruguayan citrus to enter the U.S. in nearly 20 years, a major agricultural milestone made possible by the combined, dedicated efforts of the importer


Looking to Fix Spot Charter? Beware of Turkish Port Fraudsters

File photo of document

A series of frauds, emanating from Turkish ports involving the shipment of bogus cargo and perpetrated against ship owners, have been uncovered by the security arm of the UK P&I Club,  Signum Services, as reported in a prevention advice note as follows:


 
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