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)
Higher fuel prices could help lift freight rates - Shanghai broker. Freight rates for capesize bulk carriers on key Asian routes are likely to hold around the current levels, after a revival in charter rates this week ran out of steam as the fundamentals of too many ships chasing little cargo remained unchanged, ship brokers said. "Next week is going to be flat," said a Shanghai-based capesize broker on Thursday.
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.
No sign of Q4 cargo rush; Capesize and panamax rates barely covering opex. Freight rates for capesize bulk carriers could slip further next week as too many ships available for hire weigh on the market despite reasonable cargo volumes, brokers said on Thursday. "There is no sign the market is going to be better - there are too many vessels," a Shanghai-based capesize broker said. Some owners try to resist charterers' attempts to push rates lower but there are vessels
Three bulk carriers sold charter-free at about market rates. Two Hanjin container ships also up for sale. Three ships chartered to Hanjin Shipping Co Ltd have been sold and two more vessels are up for sale, ship brokers said on Wednesday, kicking off an asset sale sparked by the failure of the world's seventh largest container shipper. Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms worried about not being paid refuse to work for
European oil traders rushed on Tuesday to book vessels to carry gasoline to consumers on the U.S. East Coast left stranded without their main domestic supply source, more than quadrupling shipping costs, traders and ship brokers told Reuters. An explosion late on Monday on the Colonial pipeline, which carries roughly one-third of the 3.2 million barrels per day (bpd) of gasoline consumed on the East Coast, makes U.S. drivers more reliant on imported oil products.
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
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
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 Brazil to China if chartering activity increases, brokers added. "There's no real direction to the capesize market. There's not enough cargo volume
"Pure" chartering market with little disruption. Rates to hold around W45 for Middle East; W48 for West Africa. Freight rates for very large crude carriers (VLCCs) are likely to hold steady around existing levels as new vessel deliveries and a reduction in port delays weigh on a ample cargo market, ship brokers said. "The market will not be majorly different next week. VLCC rates have been limping along," a Singapore-based supertanker broker said on Friday.
CNOOC VLCC deal "draws line in the sand" for tanker owners; 25-30 MidEast fixtures still to be released up to mid-November. Freight rates for very large crude carriers (VLCCs), which plunged to a three-week low, are set to recover next week as owners hold out for higher rates on
The bullish view for Suncor Energy Inc (SU.TO), Cenovus Energy Inc (CVE.TO) and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month to approve a major pipeline expansion to the west coast, boosting sales of land-locked oil sands crude to Asia.
Crowley Marine Services has sold a 205’ x 90’ x 15’ former ice-strengthened, icebreaker / cargo barge, Arctic Endeavor, to Tagiuk LLC., the ship broker Marcon International, Inc. reported. The 3,029mtdw barge was built in 1982 by Gunderson Bros
VLCC rates last week hit highest since April, May; balanced tonnage supply-cargo demand support rates. Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs last week, could climb further if there is a flurry of pre-Christmas chartering activity
VLCC rates from MidEast have reached a floor at W33; surging Suezmax rates could make VLCCs more attractive. Freight rates for very large crude carriers (VLCCs) are set to climb next week as charterers ramp up tanker fixing activity from the Middle East while increased oil volumes from West
VLCC earnings double in a week. End of force majeure in Nigeria buoys cargo volumes. Freight rates for very large crude carriers (VLCCs) are set to rise further next week, fuelled by a raft of cargoes from West Africa and the Middle East amid tight tonnage supply, ship brokers said on Friday
Capesize rates slip from year-long highs as miners absent; owners still optimistic of Q4 rate bounce. Freight rates for large capesize dry cargo shippers on key Asian routes, which hit the highest in about a year last Thursday, are set to remain buoyant during China's week-long National Day
IMO to decide whether to introduce rules in 2020, or 2025; EU, China already pushing for stricter regulation. The global shipping industry is bracing for a key regulatory decision that could mark a milestone in reducing maritime pollution
Robust Asian demand for West African crude is fueling a worldwide surge in shipping rates for the largest oil tankers that is being felt from Houston to Singapore. Chartering rates for Suezmaxes and very large crude carriers (VLCCs) have recovered rapidly in recent weeks after plunging to their
Owners seeking to push rates higher, close to year-long highs; dry bulk sector to see greater consolidation - BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain steady next week even as owners try to push rates up close to year-highs
Power struggle breaks out between between owners and charterers; West Africa cargoes hit a monthly record. Freight rates for very large crude carriers (VLCCs), which surged to a four-month high on Thursday, to hold steady as ship owners await the release of November cargoes
NYK Line may book losses as shipping slump slashes asset values. Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets.
Many vessels available for charter put pressure on freight rates. Freight rates for large capesize dry cargo ships on key Asian routes are set to slide next week as the number of ships available for charter outpaced cargo demand, ship brokers said on Thursday.
Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs this week, are likely to hold firm as owners tread water before the release of further Middle-East and West Africa cargoes, ship brokers said on Friday.
Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes