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Excess Tonnage Weighs on Asia Dry Bulk-Capesize Rates

File image: a so-called ValeMax bulk carrier (Credit: Vale)

Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes, brokers said on Thursday. "The market is absolutely dead today - it's all very doom and gloom," said a Singapore-based capesize broker on Thursday. While BHP Billiton and Rio Tinto have been active charterers this week, Fortescue Metals Group has stayed out of the market, the broker added. "Vale has said it had nothing now for October- and November-loading dates, so there will be no volume from Brazil," the broker added. That came despite owners sailing vessels empty to Brazil in the hope of picking Brazilian iron ore cargoes, brokers said. "There are so many ballasters (empty vessels) and a limited number of cargoes from Brazil. So far the market is still dropping, so I don't think either the Atlantic or Pacific will recover soon," said a Shanghai-based capesize broker. Rates were around $5.35 per tonne on Thursday for a voyage from Australia to China, brokers said. "The expectation is they will go lower. There's a lot of pressure on rates," the Singapore broker said.


Asia Capesize Bulker Rates Expected to Stay Flat

No improvement in capesize rates expected until April; around 120 capesize vessels idle or open for charter -broker     Freight rates for capesize bulk carriers on key Asian routes are likely to remain flat as the number of vessels for hire outpaces cargo demand, ship brokers said.   That came despite an increase in number of idled ships and ships sent for demolition, brokers said.   "I expect the market to stay at the same level for a while - at least one or


Panamax Rates Likely To Ease

Asian Panamax rates for dry bulk cargo are likely to ease further this week on soft demand for mineral and grain shipment, with many spot vessels available for hire in the market. "There have been few fresh spot inquiries by charterers," said a shipping broker. "In addition to this, the Panamax market has been under pressure from an oversupply of spot ships." Panamax rates for freights from the U.S. Gulf to Japan were indicated at $21.50-$22.00 a ton for March shipment, against $23


New Tech Saves Time for Shipbrokers

Stelvio has reacted to demands from the shipbroking sector for faster and more accurate vessel positioning and cargo order data by developing software which it claims will cut the workload by half. ShipDecision from Stelvio is designed to eliminate the need for brokers to search manually through the thousands of incoming daily emails. The Vessel Position feature of the system examines each incoming message and automatically extracts the critical vessel


Asia Dry Bulk-Capesize Rates to Climb

Shipowners confident rates will climb on tighter tonnage supply; Shipowners seek rates premium for Australian coal cargoes. Freight rates for capesize bulk carriers could continue to recover as ship owners scent the possibility of higher cargo volumes on tighter tonnage supply, ship brokers said. "Owners and charterers are playing a game of cat and mouse," said a Singapore-based capesize ship broker.


Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold steady as ship owners resist charterers' attempts to push rates lower amid a dearth of cargo, ship brokers said. "We are reaching a floor, particularly in the Pacific. It's got to the point where owners just won't fix their ships," a Singapore-based capesize broker said on Thursday


Large Tanker Fixing Slows, Rates Soften

Large tanker fixing out of the key Middle East market slowed last week as charterers had largely covered their October liftings, resulting in the softening of rates by about two and a half Worldscale points, brokers said last week. VLCCs to Japan commanded between W51 and W52.5, down from the mid W50s the previous week, while Korea was slipping to W50 by the end of the week. Westbound to the U.S. Gulf maintained W47.5, and one Continent fixture reached W50.


Asia Tankers-VLCC Rates to Climb Slowly

File image: a so-called SuezMax oil tanker (Suez Canal Authority)

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers (VLCCs) are set to nudge higher next week after moving above nine-month lows on increased charters this week, ship brokers said on Friday, although gains will be capped by ample tanker availability. "The market is still rubbish, but it has turned," a Singapore-based supertanker broker said on Friday.


Asia Tankers-VLCC Rates to Fall but Bottom in Sight

File image: Credit EuroNav

VLCC owners sailing slower and idling vessels; slow market to continue into September. Freight rates for very large crude carriers (VLCCs), which hit multi-year lows on Thursday, could slip further next week even as ship owners begin to resist charterers attempts to push rates lower, ship brokers said. "The market has come crashing down - there are so many ships available. Charterers are taking no prisoners," a European supertanker broker said on Friday.


Asia Bulk-Capesize Rates to hold firm during China holiday

file image (credit: BSM)

Capesize rates slip from year-long highs as miners absent; owners still optimistic of Q4 rate bounce. Freight rates for large capesize dry cargo shippers on key Asian routes, which hit the highest in about a year last Thursday, are set to remain buoyant during China's week-long National Day holiday that starts on Saturday, ship brokers said. "The market is always firm during Golden Week holidays, so I don't think the capesize market will fall off a cliff


Asia Dry Bulk-Capesize Rates could Diverge on Market Conditions

File Image (CREDIT: AdobeStock)

Australia-China rates could climb on improved weather. Brazil-China rates to hold steady, fall on lack of charters.   Freight rates for large capesize dry cargo vessels on key Asian routes could diverge next week with rates from Australia to China rebounding on improved weather


Singapore Fuel Oil Trading Heats Up

Singapore fuel oil trading volumes have soared after the 380-cst front-month time spreads widened by around $1 per tonne from the previous day's close, in what could develop into an aggressive trade strategy that occasionally rattles this market.  


Asia Dry Bulk-Capesize Rates Up on Increased Traffic

File Image (CREDIT: AdobeStock)

Record iron ore prices fuelling capesize chartering boom; freight rates rise by around $1 per tonne in a week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-week highs on Wednesday, are set to continue to climb next week on buoyant iron ore cargo


Asia Tankers-VLCC Rates to Slide Further

File Image (CREDIT: EuroNav)

Around 30 VLCC charters in Feb so far, versus 50 last month. About 40 refinery facilities to close for maintenance.   Freight rates for very large crude carriers (VLCCs), which fell to multi-week lows on Thursday, could slip further as refinery maintenance in Asia weighs on cargo volumes


Marcon Sells Ocean-going Tank Barge

Photo source:Marcon International PR

Marcon International, Inc. of Coupeville, Washington started out the New Year right with the sale of the ocean-going, combo deck / tank barge “PCC Provider” on 3rd January to Alaskan buyers.   The 5,451 mtdw, 250’ x 74’ x 19’ depth barge was specifically


Dryships to Expand into VLGC sector

The Table

DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas


DryShips exercises option for Chartered VLGC

DryShips Inc Marshall Islands registered company Courtesy DryShips

 DryShips Inc. announced today that it has exercised its first option under the previously announced option agreement to acquire one Very Large Gas Carrier (“VLGC”) currently under construction at Hyundai Heavy Industries (“HHI”) for a purchase price of $83.5 million


Asia Dry Bulk-Capesize Rates to Slip; Low Demand, Overcapacity Weigh

File Image: a typical bulk vessel underway (CREDIT: BSM)

Despite lower rates, rental prices doubled from last year; capesize vessels totalling 15 million DWT to be delivered this year - broker.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to drift lower as tonnage volumes outpace cargo demand even as owners


Asia Tankers-VLCC Rates to Hold Steady

File Image: A typical VLCC underway (CREDIT AdobeStock)

Unipec charters 20 VLCCs for West Africa, MidEast cargoes; China's oil demand to climb 3.4 pct this year - CNPC.   Freight rates for very large crude carriers (VLCCs) are expected to remain stable next week as buoyant chartering activity from the Middle East is offset by the large number of


Asia Dry Bulk-Capesize Rates to Hold Steady

File Image: A so-called ValeMax bulk carrier (Vale)

Brazil-China rates hit 15-month high for second time this year.   Freight rates for large capesize dry cargo ships on key Asian routes could hold steady or slip slightly next week after unexpectedly climbing this week on strong cargo volumes, ship brokers said.  


Asia Tankers-VLCC Rates Likely to Slide

File Image (CREDIT: AdobeStock)

Chartering activity could slow down in March due to refinery work; growth in tanker fleet could climb 6.5 pct, pressuring rates.   Freight rates for very large crude carriers (VLCCs) are likely to fall next week as charter activity from China slows ahead of the Chinese New Year holiday


Idwal Marine launches Online Ship Inspection Platform

Nick Owens, Director Photo Idwal Marine

Idwal Marine has launched the shipping industry’s first cloud-based online platform to provide instant quotations and deliver reporting for complete vessel condition, pre-purchase and pre-charter inspection services. The online platform www.inspectmyship


Netherlands’ Mariserve Buys Secondhand Pilot Boat

Photo: Damen

Netherlands-based Mariserve has purchased a secondhand pilot boat, Mercury, previously owned by the Dutch Pilot Association. The Mercury will continue under the name Sirocco.   This vessel is the ninth vessel previously owned by the Dutch Pilot Association of which Damen Trading has handled


Asia Dry Bulk-Capesize Rates to Hold Steady

Floor may have been reached on Western Australia-China rates; dry cargo demand could fall 5.4 pct in first quarter.   Freight rates for large capesize dry cargo vessels on key Asian routes are likely to hold around the current levels next week on ample tonnage supply even as chartering


Asia Tankers-VLCC Rates to Hold Steady

File image of a typical VLCC underway (Credit: EuroNav)

25 MidEast cargoes still to be fixed; VLCC rates fall to 4-month low.   Freight rates for very large crude carriers (VLCCs), which hit a four-month low on Thursday, are likely to hold around current levels or nudge higher as charterers fix the final charters in February's loading






 
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