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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 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 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 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


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.


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.


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


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


Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

file image: A VLCC transits the Suez Canal (Suez Canal Authority)

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo, could slip further next week as more tonnage becomes available with the easing of recent tanker


Baltic Index Up Slightly as Smaller Vessels Support

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose marginally on Thursday as steady demand for smaller vessels offset weaker rates across capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax


Asia Dry Bulk-Capesize Market Direction Uncertain

A so-called ValeMax bulk carrier. These vessels were built primarily to carry iron ore from Brazil to the far east. (image: Vale)

Owners resisting charterers' attempts to push market lower; rates slip from 5-1/2-month highs. Freight rates for large capesize dry cargo ships on key Asian routes face an uncertain outlook next week with some owners resisting charterers' attempts to push hire rates down even as freight rates


Baltic Index Rises on Firmer Vessel Rates

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, was up on Monday, on stronger demand across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 24 points


LNG Prices Retreat on Soft Demand

Asian spot prices for liquefied natural gas (LNG) extended their fall this week on slack demand, although production issues in Australia helped stem losses.   LNG for May delivery in Asia traded at around $4.20 per million British thermal units (mmBtu), compared with $4


Baltic Index Rises as Capesizes Continue to Support

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, on surging capesize demand and improved activity across vessel segments.   The overall index, which factors in rates for capesize, panamax


China Teapot Refiners Create Qingdao Tanker Jam

Tankers at Qingdao port face up to 30-day wait. At least 15 large tankers wait to offload -shiptracking data. A surge in oil buying by China's newest crude importers has created delays of up to a month for vessels to offload cargoes at Qingdao port


Asia Dry Bulk-Capesize Rates Likely to Stay High

A so-called ValeMax bulk carrier at the berth (File image: Vale)

Flurry of cargo fixtures push Australia, Brazil rates to highest since December. Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold steady next week near four-month highs if owners continue to reactivate idle tonnage on upbeat cargo demand


Huge Tanker Traffic Jam Builds at Basra

file image: A VLCC transits the Suez Canal (Suez Canal Authority)

Nearly 30 large oil tankers waiting to load at Basra; daily VLCC tanker rates have doubled to nearly $75,000. A traffic jam of nearly 30 large oil tankers has built up outside the Iraqi port of Basra due to loading delays, with some waiting up to three weeks and costing ship operators around $75


Baltic Index Rises on Steady Rates for Capesizes, Panamaxes

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, helped by firmer rates for bigger vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 16 points or 3


UK Shipping Sector Risks Sinking Fortunes if Brexit Prevails

Photo: Port of London Authority

If Britain votes to leave the European Union, the country's shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn.  


Asia Tankers-VLCC Rate Direction Uncertain

File Image: A VLCC transits the Suez Canal (credit: Suez Canal)

MidEast VLCC rates rise by more than $24,000 per day; China and Saudi Arabia fuel chartering surge. Freight rates for very large crude carriers (VLCCs), which hit a two-week high on Thursday, face an uncertain direction next week, brokers said.


Asia Dry Bulk-Capesize Rates Firming

A FedNav bulk vessel (file image)

Stable cargo flow needed to push rates higher; half of capesize vessel deliveries delayed in Q1. Freight rates for large capesize dry cargo ships on key Asian routes are set to firm next week as owners resist charterers attempts to push rates lower, ship brokers said on Thursday.


Baltic Index Up on Improved Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, supported by increased demand for panamaxes and smaller vessels.   The overall index that gauges the cost of shipping cargoes including iron ore, cement, grain


Asia Dry Bulk-Capesize Rates Flat as Rally Fades

A ValeMax buk carrier at the berth (File image: Vale)

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






 
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