Shipbrokers

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)

Increased Panamax Rates Boost Market Sentiment

Higher panamax freight rates have boosted sentiment in the market amid hopes for further rates increases during the week, shipbrokers said on Monday. They gave as prime example the latest U.S. Gulf to Japan fixture at a rate of $23.25 per ton of heavy grain for mid-July loading dates, this compared with the present Baltic Panamax Index showing an average $22.86 per ton. Firmer fixtures had been also reported for both the Pacific and the Atlantic, brokers said.

Houlder Sells Holdings In Tanker Broker Panel

Houlder Sells Holdings In Tanker Broker Panel Shipbroker Howard Houlder (Chartering) Ltd. has sold its shareholdings in the London Tanker Broker Panel back to the other five members of the rate-setting group, panel managing director Robert Porter said. "Howard Houlder is no longer a panel member," Porter said. "Houlder said it wished to leave and the other panelists exercised their pre-emption rights to buy the shares back."

Online Bulk Shipping Exchange Will Transform Market

An online shipping exchange being set up by two of the world's biggest oil firms, a leading agrifood multinational and top shipbroker will transform the way traditional shipping markets work, industry experts said. The company, LevelSeas.com, being set up by oil majors BP Amoco and Shell International Trading and Shipping with food processor and distributor Cargill and shipbroker Clarksons, will potentially control 10 percent of bulk commodity movements right from the beginning.

Galbraith’s Appoints Hubbard Managing Director

International shipbroker and consultant Galbraith’s Ltd has appointed Nick Hubbard as its new managing director. Hubbard has twenty-five years’ experience as a shipbroker, most recently as a senior director and major shareholder at Howe Robinson Shipbrokers in London. He said, “This is an exciting opportunity for me. Galbraith’s is an internationally known and highly respected company which operates with a strong team ethic and has more than its share of high-performing

Williams Joins Braemar Seascope Research Team

Global shipbroker Braemar Seascope Ltd has underlined its commitment to delivering top quality market data and analysis by welcoming a new Research Manager to its London-based research team. Joining the research department is Mark Williams, an economist and consultant. Mark is a proven communicator and strategist and brings with him a wealth of knowledge and experience of the shipping markets. He has been tasked with reorganizing and boosting the capture

SS&Y Capesize Indices Fall

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 125 points to 4,293 in the week ending Dec. 29. "The final Pacific Capesize Index of 1999 brought a slight tinge of disappointment for owners," SS&Y reported. SS&Y's Atlantic Capesize Index fell 87 points to 4,532 in the same week. "The 87 point drop in the index won't have been unexpected due to the seasonal effect of holidays on demand," SS&Y reported

SS&Y's Atlantic Capesize Index Rises 148 Points

Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 148 points to 3,682 in the week ending Sept. 27. "A rise of 148 points in this week's index indicates the firmness of underlying demand, with trips bound for the Pacific firming considerably," SS&Y reported, adding that the ever-firming bunker price was a large contributing factor to the overall price.

Tankers Pressured By Low Rates, High Costs

Oil tankers are reportedly being squeezed by low freight rates and high fuel costs, and some older ships may be heading for the scrapyard. An OPEC cut in oil production combined with reduced demand and high bunker fuel prices makes it difficult for even older tankers with little financial commitment to break-even, according to a report by shipbrokers Simpson, Spence and Young.

NSA, BIMCO: Meetings To Discuss SALEFORM Revision with S&P sector

During the past 12 months the industry’s most widely used standard contract for the sale and purchase of secondhand ships, SALEFORM 93, has been the subject of a revision process by the Norwegian Shipbrokers Association (NSA) and BIMCO. The objective of the revision of SALEFORM 93 has been to bring this well used form in line with current commercial practice and legal developments. An important part of the revision process is to give the wider industry the opportunity to review and