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)
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.
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."
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.
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
Guy Campbell of the China Navigation Company has been appointed by the Baltic Exchange Board of Directors as Chairman for a two year term of office. He replaces Quentin Soanes who served as Chairman from 2012. Welcoming the appointment, Baltic Exchange Chief Executive Jeremy Penn said: “The Baltic Exchange will benefit enormously from the breadth of knowledge of Guy Campbell who knows our business well with experience as both a principal and a shipbroker.”
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
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.
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.
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
Suezmax tanker owners are among the “happiest” ones when it comes to the performance of their vessels during 2014, as well as throughout this year as well says the latest weekly report from the London-based shipbroker Gibson.
Delayed restart of Exxon refinery draws down inventories. Valero and BP among traders shipping jet from Asia to U.S. Asian jet fuel shipments to the United States West Coast region could pick up this month as a prolonged cut in throughput at a California refinery is drawing down inventories
Rates for capesize bulk carriers, which climbed to their highest since at least January on Wednesday, are likely to remain steady next week on tighter tonnage supply, ship brokers said. That comes as charterers could hold back cargoes to cool this week's rise in freight rates
AXSMarine has launched an upgrade to AXSTanker – commonly known as AXSTanker4.0, a software solution for competitive shipbrokers in the Crude, Clean, Gas, Chemical and Product tanker space. Within the AXSTanker community, brokers have the option to share vessel position updates with other
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
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
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 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.
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
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
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
Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE, April 1 (Reuters) - A backlog of over 30 oil tankers has built up outside the Iraqi port of Basra and shippers face
Aden Refinery temporarily suspends tender process to import; Gasoil shipment headed for Yemen diverted towards Singapore. SINGAPORE, April 9 (Reuters) - At least four oil and natural gas tankers that were headed to Yemen have been diverted as chaos mounts in the country after the launch of
The Singapore Shipping Association (SSA) has appointed a full time Technical Director who will be responsible for ensuring the Association maintains its pledge of delivering a high level of technical advice and service to its members against a rapidly changing international regulatory
Suezmax tankers are looking good for a strong 2015 year, before posting a mild downside during 2016, but are poised to accelerate yet again in 2017 on rising deliveries, said shipbroker Charles R. Weber in its latest weekly report (Ref. Weekly 18)