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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 Ä°stanbul 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.  

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

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.

Heidmar CEO Marc La Monte Passes Away

Marc La Monte (Image:

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 for 27 years.  He served as President and Chief Executive Officer of Heidmar Inc. from April 2012. Prior to becoming CEO, La Montehad been the Managing Director of Heidmar’s VLCC tanker pool

Ziobro Appointed VP at U.S. Shipping Partners

U.S. Shipping Partners L.P. announced the appointment of Jan T. Ziobro, a 28-year veteran of the shipping industry, as Vice President, New Construction. In this role, Mr. Ziobro will have oversight of the Partnership's new construction program, which presently stands at nine 49,000 dwt product tankers and four 19,999 dwt articulated tug barge (ATB) units. Mr. Ziobro will report to Joseph P. Gehegan, President and COO.

Tanker Trends

Mideast Rates Climb As Heavy Fixing Seen Freight rates for crude tankers loading early April in the Middle East were climbing early last week as shipowners held out for higher prices in expectation of heavy vessel fixing, brokers said. VLCC rates to the U.S. Gulf were expected to rise five or more Worldscale points to W62.5-65 ($10.75 per ton) for the next done fixture, some brokers said. Japan shipment prices were also lifting with the latest bookings at W70 ($7.50 per ton), up from W67

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

Capesize Rate Jump Driven By Japanese Steel Market

Increased Japanese steel production has driven Booming Capesize rates more than the August market raid by Belgium's Bocimar when it chartered about 35 ships, shipping sources said. Capesize spot rates have doubled over the last three months, with the market now looking for $15-16,000 for a Pacific round trip, compared with about $7,500 in August, brokers said. Atlantic rates have also soared, although partly due to the grounding of the 274

Asia Tankers-VLCC Rates Soar on Tighter tonnage

File Image: VLCC underway

Mideast-Japan VLCC rates climb by $46,000 per day since Aug 26. Freight rates for very large crude carriers (VLCCs), which reached a seven-week high this week, are set to climb higher on buoyant cargo volumes and tighter tonnage, brokers said. But the views are mixed on whether rates will top $100,000 per day, the level that some brokers and owners think VLCC rates will hit over the fourth quarter on higher oil demand as Asian refineries ramp up production ahead of the northern winter

Asia Dry Bulk-Capesize Rates Impacted by China Holidays

Weak holiday demand to pressure rates lower. Rebound seen after China returns to market on Oct 8. Freight rates for capesize bulk carriers could come under pressure next week as lower cargo volumes due to holidays in China thwart shipowners efforts to push rates higher, ship brokers said.

Nigeria's Oil Exports Under Threat

Nigeria's latest effort to combat theft could imperil its oil income lifeline, compounding the damage the crude price fall has done to its finances, access to dollars and imports. Oil traders and shipping brokers said a newly implemented "letter of comfort" requirement under which

EU-bound Jet Fuel Stays at Sea

Tankers anchored off Europe, extend voyage seeking buyers; outlook dim as imports to the region rise. A jet fuel market in Europe saturated by imports from Asia and the Middle East has forced sellers to keep their oil offshore on tankers or chose longer voyages as they seek out buyers.

Asia Dry Bulk-Capesize Rates to Climb

Shipowners confident rates will climb on tighter tonnage supply; Shipowners seek rates premium for Australian coal cargoes. Freight rates for capesize bulk carriers could continue to recover as ship owners scent the possibility of higher cargo volumes on tighter tonnage supply, ship brokers said

Weak Demand Across Vessels Drags Baltic Index Down

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday for a third consecutive session due to a drop in vessel rates. The overall index, which factors in average daily earnings of capesize, panamax

Asia Tankers-VLCC Rates Will See More Volatility

file image: A Suez Max Tanker in the Suez Canal.

VLCC market to be "hot" in Q4 -VLCC broker. Freight rates for very large crude carriers (VLCCs) face a roller-coaster ride on uncertain cargo volumes and vessel supply ahead of a fourth-quarter boom, brokers said. Charter rates, which have rebounded sharply

Market Weighs on Asia Dry Bulk-Capesize Rates

Tonnage list grows in Pacific, Atlantic oceans; lack of coal cargoes weigh on freight rates. Freight rates for capesize bulk carriers are set to slide further next week, after falling to their lowest level in five weeks, due to a mounting supply of tonnage and uncertain cargo demand

Clarkson Sinks in the Rougher Seas

Logo: Clarksons

 Shipping company Clarksons has  published profits of GBP6.2mln, down 36.7 per cent on the first six months of the previous year, citing “severe challenges faced by the dry bulk market” (of unpackaged raw commodities) as the primary cause of the decline.  

Asia Tankers-VLCC Rates Dropping

Low bunker prices buoy owners' spot charter earnings. Freight rates for very large crude carriers (VLCCs), which have fallen to their lowest level in 10 months, are set to slide further next week as the volume of available tonnage outpaces cargo demand.

Asia Dry Bulk-Capesize Rates Steady at 8-month High

Freight rates climb after BHP-led charter flurry; tight tonnage supply bolsters capesize freight rates. Freight rates for capesize bulk carriers could hold around current levels after reaching their highest in more than eight months this week following a surge of fixtures by Australian miners

Asia Dry Bulk-Capesize Rates Could Soften

Capesize market "overheated" as rates near eight-month highs; optimism for a busier fourth quarter looms. Freight rates for capesize bulk carriers are likely to take a breather and drift lower after climbing to their highest level in nearly eight months this week following bad weather

Asia Dry Bulk-Capesize Rates Steady

Brazil-China capesize rates hit seven-month high; Pacific capesize market dragged by buoyant tonnage supply. Freight rates for capesize bulk carriers are likely to hold steady next week although a rush of cargo in the Atlantic would again provide the trigger for rates to move higher

WISTA Seminar on Dry Bulk Receives Wide Response

T V Shanbhag, Ex- Chief Controller of Chartering, Government of India being felicitated

  A Shipping Seminar on "Dry Bulk Chartering, Operations and Arbitration”  held on 27th June 2015 at the Narottam Morarjee Institute of Shipping, Nariman Point, Mumbai was well attended. The event which saw good response from WISTA members was orchestrated by WISTA Jt

Homeless Atlantic Oil Cargoes Deepen Glut

Millions of stranded barrels underscore glut; elevated freight rates complicate search for buyers. A shadowy build up of oil has intensified in the Atlantic Basin with homeless cargoes of crude turning into unintentional floating storage - another sign the global surplus has some way to go

Asia Dry Bulk-Capesize Rates Mixed on Uncertainty

Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come under pressure next week if charterers hold back cargoes, ship brokers said. "So far, I can't see too much cargo in the market

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