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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'


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: 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 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


ICAP Shipping in Merger Talks

Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson, the latest potential tie-up among sector players looking for scale after years of freight market turmoil. The shipping industry has suffered one of its worst ever downturns in the past five years. Owners ordered large numbers of vessels between 2007 and 2009


Erika Syndrome Hits Aframax Market

The Erika syndrome, by which charterers are seeking tankers younger than 20 years of age, shifted focus to the Atlantic Aframax markets, shipping brokers said. Two weeks ago oil lifters scrambled to fix modern VLCCs for Middle East to Far Eastern destinations, lifting rates by a third, on the back of anxiety about older substandard tankers after the Erika broke up off France in December. This week 80,000 tonners in the North Sea benefited from a combination of tight availability and the rush


Shipping Industry Faces Shake Up

Photo: Aurelie Moulin

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry.   Private equity invested tens of billions in global shipping after the 2008 financial


Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather and Brazilian demand leave tankers torn over where to sail. The region's gas markets


Australian Project Sells 2 LNG Cargos

Australia's North West Shelf liquefied natural gas (LNG) export plant sold a cargo to BG Group and Trafigura as part of a recent tender, in which some bidders sought to haul supply into premium European markets, trade sources said.   Plans by several trading companies to ship Australian LNG


LNG Shipping Rates Nosedive

LNG Ship (Source: Shell)

 With LNG prices down as slowing demand combines with rising output, the cost to ship super-chilled natural gas has also tumbled to the lowest level in more than four years and is forecast to fall further, reports Bloomberg    According to Andrew Buckland


LNG Tankers Idled as Gas Downturn Widens

Combined tanker capacity of at least 2.25 mcm LNG lies unused. Over a dozen liquefied natural gas (LNG) tankers are parked, many idle, in and around Singapore - one of the world's biggest trading hubs for the fuel - in a sign that the slowdown engulfing world gas markets may be worsening into a


U.S. Oil Traders Storing W.African Crude

Glencore, Suncor, ENI, Vitol all booking tankers; U.S. crude oil stocks at highest ever level for time of year. Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne


Traders to Store W.African Crude in US Until Prices Recover

Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne cargoes are able to compete better on price with U.S. crude.  


Maersk Broker Agency Sold to Denmark Firm

Photo: Maersk Broker Agency

Shipping.dk, part of USTC Group, has acquired Maersk Broker Agency. Maersk Broker Agency will be merged with Shipping.dk.   The acquisition is part of the Denmark-based shipping and logistics company's plan to expand its position as a significant player in Scandinavian agency and


Asia Bulk-Capesize Rates at 6-year Low

Charter rates at 6-year lows as cargoes scarce; some owners anchoring ships rather than leasing at a loss. Rates for capesize bulk carriers have plunged to fresh six-year lows and could fall further with cargoes scarce in the post-holiday period, brokers said.


Asia Dry Bulk-Capesize Market 'Imploding'

Capesize rates fall to six-year lows; rates below ship operating costs, according to accountancy firm. Rates for capesize bulk carriers on key Asian routes, which crashed close to six-year lows on Wednesday, will continue their inexorable fall in the face of few fresh cargoes, brokers said.


Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes could nudge higher amid a flurry of new cargoes and tighter tonnage supply that propelled rates to their highest in nine months


Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create one of the sector's biggest players globally. The deal would be the latest in an industry which has suffered one of its worst-ever


Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs) on key Asian routes are set to continue the rebound that started on Wednesday with a raft of new cargo requirements and upbeat sentiment


European Parliament Backs European Shipping Week

Martin Schulz (Photo: European Parliament)

European Shipping Week has been granted the European Parliament’s official patronage by its President, Martin Schulz. Both the European Commission and the European Parliament have now actively expressed their support for the week-long event which will be held in Brussels during March 2-6


FONASBA Endorses ITIC' s Post-Fixture Clause

logo itic.jpg

ITIC has recommended that brokers place a post-fixture clause at the end of recap messages to reduce the chances of exposure to severe financial loss as a result of important messages being overlooked. The following wording was endorsed by FONASBA at its recent annual general meeting in






 
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