Marine link
 

Shipbroker

Panamax Rates Slip Slightly

Panamax freight rate ideas for the immediate future have slipped back slightly, shipbrokers said. Overall, Panamax freight rates in the Atlantic are seen as softer, while the Pacific market is deemed relatively steady. However, shipbrokers are eager to see some sign this week that the Panamax market will stabilize. The start of the week saw a three to five month period charter fixed at $11,000 daily for the 1990 built 68,789 dwt Antwerpia, but the latest booking, for the 1989 built 69,406 dwt Anangel Progress, shows a slightly lower negotiated level. The Anangel Progress is scheduled for delivery Continent just before mid-March and is chartered for a three to five month trading contract at $10,900 daily, said shipbrokers. In contrast, a positive fixture has been reported for the US Gulf to Japan heavy grain Panamax benchmark route. Shipbrokers reported that the 1999 built 74,002 dwt Far Eastern Queen has been booked to transport a 54,000 ton heavy grain cargo at $22.80 per ton basis no combination destination ports. Loading is due between the end of March and start of April. — (Reuters)


Atlantic Panamax Rates Soften, Fixtures Lay Low

Sentiment for the Atlantic panamax freight market may be softening while fixture rates stay on the low side, shipbrokers said on Tuesday. "It may be settled in the (Far) East but panamax freight in the Atlantic looks softer as there are still lower rates being reported," said one London-based broker. The majority of routes quoted on the overall Baltic Panamax Index rose by three points on Tuesday to 1,309 - but the transatlantic round voyage timecharter route, a key element of the Index


Tanker Earnings Hold Steady

Atlantic Panamax earnings were given a brief respite from the steady erosion of freight rates that has dogged the sector for the past three weeks, shipbrokers said. Brokers felt that freight rates had hit rock bottom, giving Atlantic Panamax returns one last chance to surge before the end of the year. The Baltic Exchange reported that charterer GIC paid $20.85 for an unnamed vessel on the key U.S. Gulf to Japan grain route, which was above last done levels that reached $20


Spinnaker Reveals Radical Pay Changes

Maritime recruitment specialist, Spinnaker Consulting, has warned that radical pay structure changes for UK shipbrokers are resulting in brokers wanting to move out of competitive broking. As part of an in-depth salary survey covering 320 UK brokers, Spinnaker found that base salary pay structures are increasingly giving way to flexible bonus-based structures for competitive shipbrokers. As salary based pay still predominates among principals' brokers


Atlantic Panamax Rates Take A Step Back

Sentiment on the Atlantic panamax market turned weaker albeit with unchanged freight rates, while most Pacific rates now appeared to be flattening out, shipbrokers said on Thursday. Average Pacific prices as reported on the Baltic Panamax Index climbed only marginally, while Atlantic routes were shaved back one point to 1,435. Shipbrokers said the main panamax activity remained in the Far East with rates for backhaul charter still rising.


Panamax Trades Firm

Freight rates for Panamaxes trading the Pacific remained firm due to a flurry of business ahead of the Lunar New year, shipbrokers said on Tuesday. In the Far East, owners of larger Panamax sizes have been negotiating firm returns recently and continue to do so. Chinese charterers told shipbrokers that business there will grind to a halt between January 24 and 30 in observance of the Lunar New Year celebrations. Brokers added that the impending holiday will start to affect the Panamax


Atlantic Rates Set To Move Higher

Panamax fixtures for end-March loading dates supported forecasts that Atlantic rates are set to move higher, shipbrokers said. But although the Capesize move to higher ground removed resistance against a prolonged Panamax uptrend, spreading foot- and-mouth disease is threatening to dampen dry bulk spring bullishness, they added. They said that reports that the disease in Britain and France may affect European grain exports was disturbing.


Panamax Operators Move Past Seasonal Freight Rate Slump

Panamax operators are poised for an improvement in freight rates after receiving indications that the seasonal slump has passed, shipbrokers said on Tuesday. Reports emerged of off-market trips done at firmer levels than of late, at some $8,000 daily for bookings on the key U.S. Gulf to Far East route, giving the market some confidence that prospects for the panamax sector were brightening, they said. This was the first sign of an upturn since the summer slowdown dented panamax trade at


SS&Y's Pacific Capesize Index Fell 16 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 16 points to 3,250 in the week ending Sept. 20. "The Pacific Capesize index had a disappointing 16 point fall this week, with a five cent drop on trans-Pacific routes an indication of the lack of demand," SS&Y said. "The index is still nearly 1,000 points down on 1997 levels and dipping away from clearing 1998's peak, so cargoes need to start emerging soon if the market is to remain feeling buoyant


SS&Y Atlantic Index Up, Pacific Index Down

Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 162 points in the week ending Monday to 5,700. "Capesize rates strengthened overall by the middle of last week with rates from Richards Bay for October particularly strong, with fronthaul activity also firmer," SS&Y said. SS&Y's Pacific Capesize Index fell 11 points in the week ending Monday to 5,475. "The Pacific market saw a marginal re-balancing of tonnage supply in the charterers favor on certain positions," SS&Y said.


New Azipod Thruster Launched by ABB

Image: ABB

ABB unveils newest Azipod thruster to growing electric propulsion market    Power and automation technology group ABB has introduced Azipod D, a new addition to its line of Azipod electric propulsion offering, allowing a wider range of vessel types to utilize the Azipod propulsion


Shortage in Supramax

Supramax bulk carrier (Pic: United Seven GmbH & Co)

 As tonnage in the East Coast South America (ECSA) region continued to outnumber fresh grain requirements, Supramax front-haul freight rates fell this week, reports Platts, quoting shipping sources.   The rate for carrying a 50,000 mt grain stem from ECSA to the Far East continued at


ITIC Warns on Fraudulent Diversion of Funds

iticlogo.jpg

International Transport Intermediaries Club (ITIC) says fraudulent diversion of funds is on the increase in the maritime sector. Having previously issued a warning about the fraudulent diversion of port expenses, ITIC says it is now seeing evidence of similar frauds being perpetrated across the


Baltic Dry Index Weak, Shipping in Troubled Waters

Image: The International Chamber of Shipping (ICS)

 Baltic Dry Index (BDI), which tracks the cost of shipping iron ore, coal, grain and other materials, is continuing to remain weak as Chinese imports of commodities especially iron ore and coal has gone down portraying dark futures for seaborne trade.  


Indian Diesel Cargoes to Australia in Rare Move

India-Australia vessels booked despite higher freight costs; Chevron moving 1-2 cargoes a month to Australia. Indian diesel cargoes are being shipped to Australia in a rare move as rising competition from new Middle East refineries has made it more difficult to land the fuel in India's core


Baltic Sea Freight Index at All-time Low

Pic credit: International Chamber of Shipping

 The Baltic Exchange's main sea freight index slid to an all-time low on Monday as sluggish cargo demand especially from China battered sentiment, according to data on Monday from the Baltic Exchange in London.  The overall index was down 5 points, or 0


Shipping Rates Drop as China Cuts Coal Need

Pic: Nippon Yusen Kaisha

Shipping costs plunged to almost the lowest on record following tumbling demand for coal in China and weakening growth in the nation’s iron ore purchases, reports Bloomberg.  The Baltic Dry Index, which tracks freight rates for ships carrying raw materials


Founder Retires From Stolt-Nielsen BoD

Jacob Stolt-Nielsen

Stolt-Nielsen Limited has announced that Jacob Stolt-Nielsen, the visionary entrepreneur who founded the company in 1959, will retire from the SNL Board of Directors effective December 15, 2014, thus formally concluding his career at the company, 55 years to the date of its founding


Stena Donates Tanker Model to Paris Museum

From left: Luc Gillet, vice President, Total Shipping Division, Dan Sten Olsson, CEO Stena AB,  Counter Admiral Loïc Finaz, Musée National de la Marine and  Veronika Wand-Danielsson, Swedish Ambassador in France

Stena donates tanker model to the Musée National de la Marine in Paris, highlighting safe maritime practices and clean oceans. A ceremony was held Friday evening at the prestigious national maritime museum, Musée National de la Marine in Paris


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


The Pitfalls of Confidentiality Agreements

logo.jpg

ITIC has advised shipbrokers, consultants and other advisers not to sign confidentiality agreements which restrict their ability to do business. Noting that it is increasingly being asked to comment on confidentiality (or so-called nondisclosure) agreements, ITIC said


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


New York, London Juxtaposed by New Maritime Event

On November 13, the newly formed New York Maritime Consortium, a coalition of leaders from New York Maritime Inc. (NYMAR), the Society of Maritime Arbitrators (SMA), the Maritime Law Association (MLA) and the Association of Shipbrokers and Agents (ASBA)


Dry Bulk Drought: Asia Rates Fall

(Photo - Vale do Rio Doce)

Rates for capesize bulk carriers on key Asian routes could continue to fall next week in the absence of major charterers although lower freight rates could tempt top iron ore miners back into the market and potentially buoy rates, brokers said.


ITIC Urges Shipbrokers to Put it in Writing

 ITIC has warned shipbrokers that they face the risk of serious financial loss if they fail to ensure that all parties to fixture agreements are in possession of full, confirmed information prior to the conclusion of negotiations.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright