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Baltic Freight News

26 Apr 2017

Baltic Exchange Chief Outlines Growth Plan

Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks. “The recent acquisition of the Baltic Exchange by the Singapore Exchange (SGX) has reinvigorated this key international maritime institution, allowing us to grow our leadership profile and play a bigger role than ever before in setting standards, building consensus and leading change in the shipping markets. These are bold plans and will ensure that the Baltic Exchange remains at the heart of the bulk shipping industry for the long-term.

14 May 2016

Hili, Peterson Create Mediterranean JV

Hili Company, the logistics division of Hili Ventures, has entered into a joint venture agreement with leading international energy logistics company Peterson to provide oil and gas logistics services across the Mediterranean and North Africa. Peterson offers a comprehensive range of safe, reliable and value added logistics solutions to the global energy industry from locations including the Netherlands, North America and the northeast of Scotland. Established in 1920, the organisation has expanded throughout the UK with facilities at several prominent ports, including an integrated asset base in Aberdeen. The joint venture marries Peterson’s expertise in global oil and gas support with the wide-ranging capabilities of Hili Company…

02 Apr 2015

Baltic Freight Index Falls

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday as weak demand took its toll on vessel rates. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped eight points or 1.34 percent to 588 points. The capesize index fell nine points to 454 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $87 to $4,218. The panamax index fell seven points to 589 points. Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, decreased by $54 to $4,708.

20 Jun 2014

Baltic Exchange, LCH.Clearnet in Ship Tie-Up

London's Baltic Exchange and clearing house LCH.Clearnet are in talks about a tie-up over the Baltic's freight derivatives platform, the two groups said on Friday. Volumes have remained low on the loss-making Baltex multilateral trading facility since it started in June 2011. It is the first central electronic marketplace for freight forward agreements (FFA). "We are finalising arrangements with LCH.Clearnet, which clears about 70 percent of the dry bulk FFA market, to enable them to transform OTC (over-the-counter) derivatives into futures in response to certain rule changes," the Baltic's outgoing chairman Quentin Soanes wrote in the exchange's annual report published on Friday.

10 Apr 2014

Falling Vessel Rates Keep Baltic Freight Index Down

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday for a 13th straight session as vessel rates continued to soften. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped 32 points, or 3.02 percent, to 1,029. The Baltic's capesize index fell 81 points, or 4.16 percent, to 1,865 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $825 at $11,763. The panamax index fell 7 points, or 0.88 percent, to 787 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes between 60,000 and 70,000 tonnes, were down $56 at $6,346.

03 Apr 2014

Baltic Freight Index Down, Capesize, Panamax Rates Fall

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an eighth consecutive session on Thursday as rates for capesize and panamax vessels continued lower. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 38 points or 2.99 percent to 1,235. The Baltic's capesize index fell 75 points, or 3.1 percent, to 2,343 points. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $691 to $16,984. The panamax index fell 31 points, or 3.58 percent, to 836 points.

10 Mar 2014

Baltic Freight Index up on Higher Dry Bulk Activity

Reuters - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose 19 points to 1,562. The Baltic's capesize index rose 43 points or 1.4 percent to 3,023 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $505 at $24,748. The panamax index increased 13 points, or 1.2 percent, to 1,088 points. Average daily earnings for panamaxes, which usually carry 60,000- to 70,000-tonne cargoes of coal or grains, were up $106 at $8,757.

06 Feb 2014

Baltic Exchange Appoints Jones A-P Director, Singapore

Christopher Jones: Photo courtesy of Baltic Exchange

Jones joins the Baltic Exchange from ICAP Shipping Singapore where he was director of sale & purchase. He will replace Philip Williams who retires from the role in April, and he 
will be based at the Exchange's Singapore office. Baltic Exchange Chief Executive Jeremy Penn said:

 “We’re delighted to welcome Chris Jones to the team. The Baltic Exchange’s presence has grown significantly in Asia with our Singapore office leading the drive. More of the Baltic’s freight market information than ever before is produced from Singapore.

27 Oct 2011

LPG Market Rebounds in 3Q: Exmar

EXMAR NV today gave its trading update for the 3Q 2011, numbers which show broad improvement in shipping rates and prospects. The operating result (EBIT) of the LPG fleet in the third quarter was $2.3 million (compared to $1.8 million for the third quarter of 2010), including 72 offhire days. EXMAR’s fleet continued to be supported by its contract portfolio during the third quarter. counterparties. Spot market conditions further strengthened as the Midsize vessels’ availability has been remarkably tight over the last months. Time Charter levels edged up on this basis. During the third quarter, EXMAR took over 4 BW Gas Midsize vessels and has therefore started to handle the North Sea Contracts of Affreightment, which is an addition to the EXMAR Midsize portfolio.

19 Aug 2003

Port of Hamburg Reports Growth for Container Traffic

ports. handling increase of 5.8 percent. terminals. period last year. 3.3 million tons. unit) were handled at the Hamburg Container Terminals. increase of 14.9 percent compared to the same period last year. increase in container turnover. Europe (Bremen/Bremerhaven, Rotterdam and Antwerp). increase its market share," said Dr. Hamburg marketing(HHM). only slightly impaired by the SARS epidemic," he added. epidemic. year. from China remains unchanged. shipping area in northern Europe," said Dr. Sorgenfrei. and 10 percent were also recorded. Subcontinent in particular increased by a clear 11.3 percent. the year. cargo was handled in the second quarter than in the same period last year. increased by 0.8 percent. respectively. remained lower than imports from that region.

26 Oct 2007

EXMAR NV Offers Trading Update

During the 3rd quarter an operating result (EBIT) of $7.1m was recorded by the LPG fleet, $16.5m for the 3rd quarter 2006, including $4.0m non-recurrent items. The EBIT for the first nine months of the current year amounts to $21.5m, compared to $49.4m for the first nine months of 2006, including $14.0m non recurrent items. Although freights remained firm, the Midsize segment suffered from increased idle time. Firming Black Sea Ammonia prices versus ample stocks in USA left no room for Atlantic spot movements. Middle East product, however, became gradually competitive enough to support long-haul liftings both to the Far East and Europe. Whereas originally LPG activity was also at a low, Indian imports resumed, which supported increased employment by the end of the quarter.

01 Oct 1999

Stiff Rate Increases Seen For Atlantic Capers

Some stiff rate increases for Atlantic capers were seen for business to China and for trans-Atlantic coal, brokers said last Wednesday. Panamax rates were still drifting from the U.S. Gulf due to lack of orders, but levels in the Far East for these vessels remained firmer, they added. Conditions for handy size vessels and to a lesser extent smaller geared tonnage, were generally better in the Atlantic. The Baltic Freight Index (BFI) rose six points to 1,223, the Baltic Panamax Index gained five points to 1,186, the Baltic Handy Index firmed seven points to 930, and the Baltic Capesize Index was also up seven points to 1,412. In the grain sector…

10 Sep 1999

Market Offers Positive Features For Owners

An increase in caper demand and consequent higher rates coupled with significantly stronger levels of enquiry for panamaxes, especially from Japanese charterers in the Far East, were positive features for owners, brokers said. The Panamax development was also seen as positive for Atlantic rates as it was likely to reduce the number of vessels ballasting from the Pacific to the U.S. Gulf. The Baltic Freight Index (BFI) rose eight points to 1,051, the Baltic Panamax Index gained three points to 996, the Baltic Capesize Index jumped 28 points to 1,300, and the Baltic Handy Index was up three points to 845 points. Brokers said that grain charterers requiring panamaxes on the Continent for business to the Middle East were forced to increase their rate ideas sharply.

20 Sep 1999

BFI Increase Reflects Rise In Panamax Rates

Panamax vessels continued to attract higher rates last week, which was reflected in gains by the Baltic Freight Index (BFI) and the Baltic Panamax Index. The BFI jumped 19 points to 1,143, while the Baltic Panamax Index rose 25 points to 1,105. Quieter conditions for caper and handies were responsible for a modest two point rise in the Baltic Capesize Index to 1,377 and a four point increase on the Baltic Handy Index to 871, brokers said. Fresh grain business was confined to just one fixture from Cargill, who took the 1980 built Elikon to ship 25,000 tons wheat Hamburg/Algeria September 20/25 at $15.25. Panamaxes involved in period business were said to be making consistent gains…

24 Sep 1999

Indices Post Gains, Rates Holding Steady To Firmer

The dry cargo market was quiet last Wednesday because of a holiday in Japan, but the Baltic indices posted gains as rates were perceived to be holding steady to slightly firmer, brokers said. The Baltic Freight Index (BFI) rose six points to 1,211, the Baltic Panamax Index gained five to 1,181, the Handy Index firmed six to 902 and the Capesize Index was up four to 1,398. Activity was expected to remain quiet for the rest of the week due to holidays in Japan, South Korea and Taiwan over the course of the week. Grain chartering remained quiet with no vessels fixed on any key routes. However, the 1978 built Thebro and the 1977 built Velos were both booked to carry 55,000 tons wheat each from the U.S.

11 Oct 1999

Capesize Index Jumps As Rates Rise

The Baltic Capesize Index jumped 39 points to 1,508 last week as caper rates continued to rise worldwide, brokers said. Ilva was reported to have fixed 130,000 tons iron ore Tubarao/Taranto for prompt loading at $8.65 basis pier 2, and also took Belmay to load 130,000 tons coal at Gladstone and Newcastle for Taranto pier 2 for end October at $12.70. The Baltic Freight Index (BFI) rose four points to 1,271 but the Baltic Panamax Index slipped three points to 1,229 and the Baltic Handy Index was unchanged at 940. Panamax rates were less steady than the capers, brokers said. Paxicon fixed Pasquale Della Gatta 75,400 dwt del U.S. Gulf mid Oct trip Kosichang at a weaker $10…

15 Oct 1999

Caper Boom Not Over Yet

There were no signs that the recent caper boom was over yet despite last Tuesday's relatively modest gain on the Baltic Capesize Index of 31 points to 1,753, brokers said. The slightly softer condition for early Panamaxes in the U.S. Gulf persisted but for end October and November positions there appeared to be a slight upward trend in rates, they added. Owners were said to be reluctant to ballast to the U.S. Gulf or the east coast of South America due to firm bunker prices. Panamax rates from the Continent and in the East were reported to be at the very least steady, while handy size rates were also generally steady but few details emerged about fixtures from the Lakes, U.S. Gulf or the east coast of South America.

20 Oct 1999

Freight Market Quiet

Few significant developments emerged on Wednesday as the dry bulk market appeared to be stabilizing in most areas, reflected in the latest moves of the Baltic indices, brokers said. The Baltic Freight Index (BFI) rose 12 points to 1,397, the Baltic Panamax Index gained 18 points to 1,335, the Baltic Handy Index firmed three points to 959 and the Baltic Capesize Index was up four points to 1,901. The Capesize sector was quiet although rates were generally unchanged, while Panamax rates in the Far East sector looked to be very steady, especially the more modern types. There were some signs of easier conditions for handy-sizes in the Far East and possibly also in the U.S. Gulf and South America but differences in freight rates in the Atlantic so far appeared to be marginal.

22 Oct 1999

Capesize Markets Quiet, Remain Firm

Capesize Markets Quiet, Remain Firm Capesize markets were quieter worldwide last week, although rates remained firm. Panamax rates made further headway in most areas, and Handysize conditions were slow in the Far East and in South America, brokers said. Bunker prices showed steep gains in the Far East, they added. The Baltic Freight Index (BFI) rose 11 points to 1,385, the Baltic Panamax Index gained 16 points to 1,317, the Baltic Capesize Index firmed 12 points to 1,897, and the Baltic Handy Index was up three points at 956. Owners' confidence that grain rates in the U.S. Gulf would shortly improve for Panamaxes appeared to have been justified, brokers said. -- (Reuters)

04 Nov 1999

Baltic Dry Index

The Baltic Dry Index (BDI), the successor to the Baltic Freight Index, was down 12 points on Thursday to 1,301 points. The Baltic Panamax Index was down 2 to 1,251, the Capesize down 30 to 1,709 and the Handy down 2 to 952 points.

28 Oct 1999

Baltic Exchange Launches New Dry Bulk Index

The Baltic Exchange will launch a new dry bulk cargo composite index on Monday, November 1. The BDI is a composite of the existing Baltic Handy Index, Baltic Panamax Index (BPI) and the Baltic Capesize Index. It will provide a valuable general indicator for those with mixed fleets and will continue the function of the Baltic Freight Index (BFI), due to be replaced by the BPI on November 1. The BFI has been the price settlement mechanism for BIFFEX, the freight futures contract traded at the London International Financial Futures and Options Exchange.

22 Oct 1999

CMB Rated 'Market Performer'

Bank Degroof has upgraded its rating on Belgian shipping company CMB to "market performer," and raised the company's earnings forecast for both 1999 and 2000. A Degroof spokesperson said the company raised CMB's earnings outlook for 1999 to a profit of 0.15 euro per share from a loss of 0.57 euro previously. It raised its 2000 forecast to a profit of 3.40 euros a share from 2.35 euros previously. "Market conditions have improved spectacularly in recent weeks," the spokesperson said, pointing to the rise in the Baltic freight index, a proxy for the evolution of shipping rates. "It seems as if our forecasts for this and next year will prove too conservative so we revise them upwards," it said.

21 Oct 1999

Freight Rates Dip For First Time This Month

The Baltic indices indicated perhaps some changing conditions in the dry cargo market, with the Baltic Capesize Index falling for the first time this month on evidence of weaker conditions in the Far east and South Africa. The panamax index, however, took up the forward running on the basis of firmer rates conceded by charterers in the north Atlantic and the Pacific, they added. The Baltic Freight Index (BFI) rose nine points to 1,406, the Baltic Panamax Index gained 15 points to 1,350, and the Baltic Handy Index was up three points to 962, but the Baltic Capesize Index slipped two points to 1,899.