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Dry Bulk Carrier Market News

30 Jan 2016

NYK Line Posts Loss on Dry Bulk Fleet Revaluation

Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss came after it re-assessed the recoverable value of its dry bulk vessels. In the global shipping industry, an oversupply in the container shipping market continued due to ongoing steady production of new ultra-large vessels, and freight rates in the shipping market fell to very low levels as a result of a widening gap between supply and demand. Conditions in the dry bulk carrier market were extremely harsh, with market demand remaining stagnant as the slowdown in China led to a decline in shipping traffic.

20 Jan 2016

Baltic Index Hits Record Low for 12th Straight Session

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, plunged to a new record low for the 12th straight session on Wednesday amid concerns over vessel oversupply and low demand. The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell five points, or 1.38 percent, to a low of 358 points. The outlook for the dry bulk carrier market remains less favorable as weak Chinese infrastructure investment and slowing production at major mining companies limit demand growth for dry bulk carriers, brokerage Jefferies said in a note. However, the capesize index rose a point, or 0.54 percent, to 186 points, after hitting a record low on Tuesday.

23 Jul 2014

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders. Foremost Maritime are understood by Clarkson Hellas to have added a further four 180,000 dwt Capesize to their orderbook at Beihai, taking the series to six vessels. Delivery is planned from end 2015 and through 2016. Reuben Brothers have ordered two 82,000 dwt bulk carriers at JMU Yokohama. The vessels are due for delivery in early 2016, and take the buyers total Kamsarmax orderbook to seven, with existing orders for five units at Sungdong. Shih Wei Navigation are understood to have added a further 60k Supramax at Onomichi…

15 Oct 2013

Ocean-going Ship Newbuildings Round-up

Stem photo in public domain

Activity in Chinese shipyards increased the past week, notably in the dry-bulk carrier market, as workers returned from the 'Golden Week' holidays reports Clarkson Hellas Weekly S&P Bulletin. China Navigation have announced the declaration of another four options of the 39,500dwt design at Chengxi Shipyard, which will bring the total number of orders for this design up to 16 vessels. This latest set of options will all deliver in 2016. No pricing has been disclosed, though the earlier options were declared at a price of circa USD 23 Mill.

18 Sep 2013

Latest Global Shipbuilding Orders

Shipbuilding orders were rather less the past week, but there were notable contracts for specialised heavy-lift carriers from Chinese shipbuilders, according to the Clarkson Hellas S&P Weekly Bulletin round-up. Limited ordering to report this week in dry say Clarkson, with the focus very much being on the smaller sizes. Starting with the larger of these, Parakou Shipping have declared a further four options for 64,000 DWT Ultramax at Chengxi taking the total series to eight vessels. Delivery of these latest vessels from end 2015. In the Handysize dry bulk carrier market, Interlink have placed a new order for five firm plus five options 38,500 DWT bulkers at Kouan Shipbuilding.

05 Jan 2001

Asian Panamax Rates Up Slightly

Asian Panamax freight rates for dry bulk cargo edged up slightly this week in slow trade due to New Year holidays, Reuters reported. But the outlook for the Panamax sector remained healthy as activity would pick up momentum after the holiday period and the arrival of new ships was unlikely to affect Panamax rates before April, brokers said. The freight rates for the heavy grain Panamax benchmark route, U.S. Gulf to Japan, were quoted higher at $22.493 a ton compared with $22.208 two weeks earlier, brokers said. Panamax rates for the U.S. Pacific route were indicated at $16.543 per ton, up from $16.325 two weeks ago. Brokers said reported fixtures had been slightly quieter as Christmas and New Year holidays kept chartering businesses slow.

14 Feb 2001

Modern Panamaxes Attract Top Dollar

While the dry bulk carrier market waits for increased opportunities arising from the eventual onset of spring, the Panamax sector continues to trade in a relatively steady manner. Modern Panamaxes continue to attract a premium over older ships with the 2000-built, 74,000-dwt Far Eastern Glory reported to have been booked at $12,600 daily for delivery Taiwan between February 18 and 25. The charter involves an Australian round voyage followed by redelivery in Japan. Meanwhile, the 1992-built, 69,310 dwt Far Eastern Express, while older and smaller, has been reported chartered for mid February delivery in Yokkaichi for a trip via north Pacific with redelivery scheduled off the Continent at $11,800 daily. Both rates were considered healthy.