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Turkey Will Host Ship Brokers’ Association

The first annual Turkish Ship Brokers’ Association Dinner (Bosporus 2012) will be held at the Haliç Congress Center, located in the historical district of Sütlüce in İstanbul on June 29, 2012. The Turkish Ship Brokers’ Association is expecting an attendance of about 1.400 ship brokers, ship owners, charterers, ship agents and representatives of all areas of the global shipping industry. With the support of the Turkish Transportation, Maritime and Communication Ministry and IMEAK DTO/Turkish Chamber of Shipping, Bosporus 2012 is being sponsored by Statu Shipping, Ulgenbulk, Densa Tanker, Hkalkavan Shipping, Burtrans, Bulk Atlantic, Efe Chartering, Catoni Shipping, United Shipping Agency Romania, Forsa Shipping and Green Black Marine Logistics. Its aim is to make an impact to strengthen the relations of the Turkish shipping industry and their counterparts world over.  


Asia Dry Bulk-Capesize Owners Remain Confident

File Image: typical bulk carrier underway (BSM)

Number of idle ships down to around 15, from 70 in early 2016 - broker. Freight rates for large capesize dry cargo ships on key Asian routes could nudge lower next week although they are generally expected to remain around the current levels, ship brokers said. "Owners still have confidence in the market," a Shanghai-based capesize broker said on Thursday. That was reflected through the number of idle capesize ships, which were down to 15 vessels this week, the broker said


ITIC Highlights The Perils Of E-Mail

Electronic communication is not totally secure despite a seemingly bug-free transition into 2000, warns The International Transport Intermediaries Club (ITIC). E-mail systems may help in reducing communication costs but they can still lead to substantial losses at the touch of a button. The latest issue of ITIC's Claims Review reports the case of a charterer who had invited tenders for a long-term charter. A shipbroker sent his principal's bid via an industry message system to the charterers'


Asia Tankers-VLCC Rates Softening

Owners waiting for charterers to release July cargoes next week.   Rates for very large crude carriers (VLCCs) on key Asian routes are set to soften early next week before rebounding on the first wave of supertanker charters from the Middle East to Asia in July's fixture programme, brokers said. "Rates are rolling, skidding by half a point a day," said one Singapore VLCC broker on Friday. That came after a raft of charters which saw around 26 supertankers fixed this


Asia Dry Bulk-Capesize Rates Firming on Cargo Volumes

File Image: a so-called ValeMax bulk vessel (Vale)

Tough measures needed to achieve profitability -BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold around current levels or nudge slightly higher next week on buoyant cargo volumes, likely supported by a raft of off-market charters, ship brokers said. "The market is plodding along - it's been a quiet week. It's not going to change massively," a Singapore-based capesize ship broker said on Thursday.


Asia Bulk-Capesize Rates to hold firm during China holiday

file image (credit: BSM)

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 holiday that starts on Saturday, ship brokers said. "The market is always firm during Golden Week holidays, so I don't think the capesize market will fall off a cliff


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.


Asia Tankers-VLCC Rates Slide

File Image: a large crude carrier transits the Suez Canal (credit: Suez Canal)

VLCC rates fall $10,000 in a week on dearth of cargo; demand fundamentals still appear favourable - Teekay CEO. Freight rates in Asian trades for very large crude carriers (VLCCs) are likely to slide further next week as charterers drip feed fixtures to dampen freight rates, ship brokers said on Friday. "I rather think charterers will play the same game as they have the last couple of weeks - fixing older tonnage and limiting cargoes as they try to squeeze freight rates


Asia Tankers-VLCC Rates Face Pressure

Number of MidEast charter fixtures less than usual; Basra crude exports set to fall in May. Freight rates for very large crude carriers (VLCCs) will come under further pressure next week if the current sluggish chartering activity continues, ship brokers said on Friday. Charter rates from the Middle East to Japan fell about 9 points on the Worldscale measure this week as an expected raft of fixtures for loading in Basra and Saudi Arabia failed to materialise, brokers said.


Asia Tankers-VLCC Rates Steady as Suezmax Fixtures Weigh

Charterers splitting VLCC cargoes into smaller Suezmax tankers; rates to remain around $24,000 per day, below break-even levels. Freight rates for very large crude carriers (VLCCs) on main routes to Asia are set to hold around current levels next week, as an oversupply of smaller Suezmax tankers put rates for larger VLCCs under pressure, ship brokers said on Friday. That came as at least one charterer split a crude cargo that would normally be transported by a VLCC into two Suezmax


Tanker Operators Brace for OPEC Cuts

© Jose Gil / Adobe Stock

Tanker owners are bracing for a volatile year ahead after enjoying some of the highest charter rates since 2008, with OPEC plans to curb crude output potentially cutting rates by more than 40 percent.   Fewer Middle East cargoes will mean lower freight rates for operators of very large


Asia Dry Bulk-Capesize Rates to Slip Further

File Image: A laden bulk vessel underway (Cedit Norden)

Chartering activity falls as holidays loom; Rio Tinto offering rates 5.5 pct lower than index level. Freight rates for large capesize dry cargo ships on key Asian routes will slide further next week in a lacklustre chartering market ahead of Christmas, ship brokers said.


Asia Dry Bulk-Capesize Rates to Firm on Tight Tonnage, Ample Cargo

File Image: a large bulk carrier underway (CREDIT: BSM)

Just handful of ships for Brazil loading in early January; coal, South African iron ore cargoes support rates.   Freight rates for large capesize dry cargo ships on key Asian routes could diverge with rates from Brazil to China nudging higher on a shortage of tonnage and those from


Asia Dry Bulk-Capesize Rates Firm as Weather Delays Weigh

File Image: a large bulk carrier underway (CREDIT: BSM)

Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help


Asia Dry Bulk-Capesize Rates could slide as Tonnage Outweighs Demand

A typical Capesize Bulker (credit: BSM)

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.


VLCC Rates to Hold Firm as Owners Await MidEast Cargoes

File photo: Euronav

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.  


Excess Tonnage Weighs on Asia Dry Bulk-Capesize Rates

File image: a so-called ValeMax bulk carrier (Credit: Vale)

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


Asia Tankers-VLCC Rates to Rebound on Firm Cargo Volumes

File Image (Credit: EuroNav)

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


Europe Rushes to Meet US Fuel Demand, Spiking Freight Costs

File photo: Aurelie Moulin

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. 


Canada Oil Sands Asia Export Dream Faces Port Bottleneck

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 Sells Ice-breaking Cargo Barge to Tagiuk

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


Asia Tankers-VLCC Rates May Hit Multi-Month Highs

File Image of a VLCC (CREDIT: EURONAV)

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


Myklebust Appointed CEO of Viking Supply Ships

Trond Myklebust (Photo: Viking Supply Ships)

The Board of Directors of Viking Supply Ships AB has appointed Trond Myklebust as Chief Executive Officer (CEO). Myklebust will also act as CEO in Viking Supply Ships A/S, and will take over the responsibilities as CEO in both companies ultimo January.


Asia Dry Bulk-Capesize Rates Sliding as Overcapacity Weighs

File Image: a dry bulk vessel underway (CREDIT: Norden)

Capesize rates 26-33 pct higher than a year ago, but could fall towards Chinese New Year. Freight rates for large capesize dry cargo ships on key Asian routes may fall further next week as prospects for a pre-Christmas rally fade with ship supply outpacing cargo demand, ship brokers said.


Asia Tankers-VLCC rates to Slip from Eight-Month Highs

Rates gain 10 Worldscale points in a week; but rates in 2017 may be lower than this year -Bancosta. Freight rates for very large crude carriers (VLCCs) may slip next week as the pre-Christmas cargo flurry, which propelled hire rates to an eight-month high on Thursday, peters out






 
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