Marine link
 

Vessel Broker

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


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


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.


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


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 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 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.


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


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


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 Expands to Gas Carrier Market with Four New VLGCs

Image: DryShips Inc.

 DryShips Inc. has agreed to enter into a "zero cost" LPG Option Agreement with companies controlled by its Chairman and Chief Executive Officer,  George Economou, to purchase up to four high specifications Very Large Gas Carriers (VLGC) capable of carrying liquefied petroleum


Asia Dry Bulk-Capesize Rates Firm as Weather Delays Weigh

File Image: a large bulk carrier underway (CREDIT: BSM)

Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help


Asia Tankers-VLCC Rates to Slide on Lower Cargo Volumes

File Image: A so-called SuezMax tanker transits the Suez Canal (CREDIT: Suez Canal Authority)

34 VLCC MidEast cargoes fixed for early Jan -Reuters terminal; only nine fixed so far for mid-Jan.   Freight rates for very large crude carriers (VLCCs), which hit a new nine-month high this week, are on course to soften amid a weaker cargo market as owners wait for more charters to be


Asia Dry Bulk-Capesize Rates to Firm on Tight Tonnage, Ample Cargo

File Image: a large bulk carrier underway (CREDIT: BSM)

Just handful of ships for Brazil loading in early January; coal, South African iron ore cargoes support rates.   Freight rates for large capesize dry cargo ships on key Asian routes could diverge with rates from Brazil to China nudging higher on a shortage of tonnage and those from


Asia Dry Bulk-Capesize Rates to Slip Further

File Image: A laden bulk vessel underway (Cedit Norden)

Chartering activity falls as holidays loom; Rio Tinto offering rates 5.5 pct lower than index level. Freight rates for large capesize dry cargo ships on key Asian routes will slide further next week in a lacklustre chartering market ahead of Christmas, ship brokers said.


Asia Tankers-VLCC rates to Slip from Eight-Month Highs

Rates gain 10 Worldscale points in a week; but rates in 2017 may be lower than this year -Bancosta. Freight rates for very large crude carriers (VLCCs) may slip next week as the pre-Christmas cargo flurry, which propelled hire rates to an eight-month high on Thursday, peters out


Asia Dry Bulk-Capesize Rates Sliding as Overcapacity Weighs

File Image: a dry bulk vessel underway (CREDIT: Norden)

Capesize rates 26-33 pct higher than a year ago, but could fall towards Chinese New Year. Freight rates for large capesize dry cargo ships on key Asian routes may fall further next week as prospects for a pre-Christmas rally fade with ship supply outpacing cargo demand, ship brokers said.


Myklebust Appointed CEO of Viking Supply Ships

Trond Myklebust (Photo: Viking Supply Ships)

The Board of Directors of Viking Supply Ships AB has appointed Trond Myklebust as Chief Executive Officer (CEO). Myklebust will also act as CEO in Viking Supply Ships A/S, and will take over the responsibilities as CEO in both companies ultimo January.


Asia Tankers-VLCC Rates May Hit Multi-Month Highs

File Image of a VLCC (CREDIT: EURONAV)

VLCC rates last week hit highest since April, May; balanced tonnage supply-cargo demand support rates. Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs last week, could climb further if there is a flurry of pre-Christmas chartering activity


Crowley Sells Ice-breaking Cargo Barge to Tagiuk

Crowley Marine Services has sold a 205’ x 90’ x 15’ former ice-strengthened, icebreaker / cargo barge, Arctic Endeavor, to Tagiuk LLC., the ship broker Marcon International, Inc. reported.   The 3,029mtdw barge was built in 1982 by Gunderson Bros


Canada Oil Sands Asia Export Dream Faces Port Bottleneck

The bullish view for Suncor Energy Inc (SU.TO), Cenovus Energy Inc (CVE.TO) and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month to approve a major pipeline expansion to the west coast, boosting sales of land-locked oil sands crude to Asia.  


NORDEN Names New Head of Dry Cargo

Photo: NORDEN

Dampskibsselskabet NORDEN A/S has hired Christian Vinther Christensen as new head of the Dry Cargo Department.   Christian Vinther Christensen takes up his new position January 1, 2017 and becomes part of Senior Management reporting to CEO Jan Rindbo.  






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