Bulk Carrier Trends: Panamax Activity On The Rise
The dry cargo freight market was enlivened by a higher degree of Panamax activity in most areas, while Capesize conditions remained subdued with little fresh business quoted and few fixtures reported, brokers said. On May 9, the Baltic Dry Index gained 2 points from the day before to 1,609, the Baltic Panamax Index rose 11 to 1,512 and the Baltic Handy Index gained one to 1,153, while the Baltic Capesize Index fell six to 2,171. In the grain sector, higher rates were fixed from the Atlantic to the Far East, brokers said. Although brokers were disappointed at the level obtained by the 1999-built Red Cherry 73,350 dwt from Hanjin delivery U.S. Gulf end May trip Far East at $11,200 daily plus a $230,000 ballast bonus, other fixtures were concluded at more generous levels.
Rotterdam Port Throughput Slips
Compared to the excellent first three quarters of 2015 (+5.4%), cargo throughput in the same period this year fell by 1.9%. The decrease was particularly strong in coal and iron ore. Allard Castelein, CEO of the Port of Rotterdam Authority: “Each of the different sectors in the port has its own dynamic. The 1.9% decrease is consequently the sum of a number of different developments. Last year, throughput in the port increased by 4.9%, to 466 million tonnes. Castelein: “Throughput figures only tell part of the story. Throughput in liquid bulk fell by 0.4%, to 160.0 million tonnes.
Antwerp Port Volume up 3.3% in 9 months
The port of Antwerp continues its excellent performance, handling 161,671,573 tonnes of freight in the first nine months of this year, up 3.3% on the same period last year. The container volume in the first three quarters came to more than 7.5 million TEU. This represents growth of 4.0%, thus further expanding Antwerp’s market share for containers in the Hamburg-Le Havre range. The container volume rose during the first nine months by 3.7%, finishing at 88,639,126 tonnes. In terms of the number of TEU handled the figure came to 7,556,386, an increase of 4.0%.
Dry Bulk Drought: Asia Rates Fall
Rates for capesize bulk carriers on key Asian routes could continue to fall next week in the absence of major charterers although lower freight rates could tempt top iron ore miners back into the market and potentially buoy rates, brokers said. Charterers, including Vale, BHP Billiton and Fortescue Metals, kept out of the market on Thursday, shipbrokers said. "Without the likes of Vale and Rio Tinto in the market, rates are not going to rise. There are still plenty of ships available for October loading," said a Singapore-based capesize broker.
Oldendorff Acquires 8 Vessels
In the Babycape segment, Oldendorff's London office usually operates around 30 vessels in its global network of trades. The company informed that it likes to have some owned vessels in every segment in which it operates to ensure more reliable and flexible service. The Babycape vessels were purchased from companies managed by Hartmann Reederei (Leer) and Thomas Schulte (Hamburg), and join three other Babycapes in the Oldendorff fleet which were bought in summer 2016. The 119…
Premuda To Use $30M Bond To Buy Ships
Italian shipping company Premuda SpA has completed a $30.9 million bond issue in order to acquire more ships. The bond issue will give Premuda greater liquidity and allow it to acquire further bulk ships following a significant upward trend in dry cargo shipping markets, company officials said. Premuda officials said the company's affiliate, United Bulk International, recently acquired two 1993-built Panamax bulk carriers for about $26.7 million. The bonds will mature in five years and are limited to existing shareholders. The new bulk carriers, due to be delivered in the next few weeks, will take the group's fleet to 20 vessels including four oil tankers being built in Korea for delivery in 2001.
IMO to Help Coordinate MidEast Oil Spill Clean Up
The International Maritime Organization (IMO) is to collaborate in efforts to mount a coordinated response from UN agencies and other concerned parties, including regional Governments, to the oil spill currently affecting the coastal and marine environments of Lebanon and Syria. The spill, estimated to be one of the largest ever to affect the Mediterranean, follows an incident in mid-July in which an oil storage unit at a power plant in Jiyyeh, 30 km south of Beirut, sustained bombing damage during the current conflict. Theme: --Select Story Tmeme-- Anchor Handling Tugs Articulated Tug Barge (ATB) Ballast Water Management Barges Bulk…
St. Lawrence Seaway Shipments Steady in September
“Notable increases were reflected in the export of wheat, corn and soybeans from the U.S. Ports of Duluth, Milwaukee and Toledo during the month of September,” said Betty Sutton, Administrator of the Saint Lawrence Seaway Development Corporation. “The good news is that we anticipate that trend to continue for the remaining three months of the 2016 navigation season.” Also notable were shipments of aluminum and project cargo consisting of crane components, machinery, and transformers.
Moore Stephens: 4th Straight Year of Operating Costs Decline
International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015. This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction in such costs. All categories of expenditure were down on those for the previous 12-month period. This suggests continued pragmatic management of costs by ship owners and operators, as well as a reduction in active trading for some owners as a result of the prolonged worldwide economic downturn.
JES Inks $1 Billion USD Newbuilding Deal
Mainboard-listed JES International Holdings Limited announced that the Group has successfully secured contract plus options worth close to US$1.0 billion, continuing on their successive contract wins earlier in 2014. “We are pleased to announce that we have just secured our largest contract to date, marking our fourth contract win in under 5 months. We have witnessed higher level of activities in the shipbuilding sector and we are optimistic that our world class yard will have us well-poised to further tap on more opportunities emerging from this trend. Going forward, we will continue to seek for more opportunities in order to maintain our order winning momentum.” Mr.
Plunging UK Coal Imports Starts ‘Concerning Trend’ -BIMCO
The main exporters of thermal coal for coal-fired power plants to the U.K. have experienced a heavy decline in seaborne cargo volumes in 2016. This comes as a result of the U.K. starting a concerning trend for the dry bulk shipping industry, by close to doubling its Carbon Price Floor (CPF), says the Baltic and International Maritime Council (BIMCO). Russia, Colombia and the U.S. have been the top coal exporters to the U.K. for the previous three years. The long hauls from the U.S.
Top 5 Carriers to Dominate Container Shipping, Says Drewry
If both APL and UASC are included within their new parents, the top five ocean carriers now control approximately 54 percent of the world’s containership fleet, says Drewry. In 2015, the top 10 carriers were close to controlling 90 percent of the market. It is conceivable that at some point in the future further concentration will see 90 percent of the Asia-North Europe market being controlled by just five competitors, at which time the carriers will have much greater pricing power than they did in the past.
Shipping industry market trends for 2014 - John Nikolaou
Greek shipowners have returned to the top of the global shipping economy by controlling a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. According to Clarksons, this global lead illustrates that Greeks operate much bigger ships because they own 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese. Japanese have invested huge funds during the past decade which resulted in significant losses during the crisis, while Greeks proved to be more conservative during the period of industry growth and had less negative impact on them.
No Reprieve for Multipurpose Shipping Until 2018: Drewry
The last three months have been some of the worst the multipurpose and project carrier sector has endured in living memory. The breakbulk and project cargo sector remain weak, with little suggestion that volumes will improve significantly until the end of 2017, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry. Rates have continued to slide to barely cover operating expenses, as the competing sectors of container ships and bulk carriers have weakened the MPV market ever further in their search for market share.
Panama Canal Cargo Tonnage Zooms
Strong container traffic, newly introduced segments and the Expanded Canal all contribute to the 330.7 million tons of goods welcomed through the Canal in FY16, the third highest amount ever recorded. Panama City, Panama, October 20, 2016 – At the close of the 2016 fiscal year (FY16), the Panama Canal Authority (ACP) recorded the third-highest annual tonnage in its history, welcoming 330.7 million Panama Canal tons (PC/UMS). A total of 13,114 vessels transited the Panama Canal during the fiscal period from October 1, 2015 to September 30, 2016.
Japan's NYK Line Warns of $1.9 bln hit to Earnings
NYK Line may book losses as shipping slump slashes asset values. Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets. The shock writedown is the latest symptom of the dramatic slowdown in the container shipping sector. Weaker global trade, and in particular softer demand from China, has battered freight rates and left hundreds of ships idle. Chronic oversupply in the industry has already claimed one high profile victim this year: South Korea's Hanjin Shipping Co Ltd, the world's seventh largest container carrier before it went into receivership.
Sinopacific Shipbuilding Applies New LTV Concept
A growing global focus on the low carbon economy has sparked greater awareness of the low-carbon trend among shipbuilders. Recently various international maritime conventions and standards, such as the convention on greenhouse gas emissions, PSPC and Ballast Water Management, have been issued that greatly impact the global shipbuilding industry. Many shipbuilding companies are investigating new approaches to reducing fuel consumption, carbon emissions and operating costs, to enhance safety and achieve environmentally neutral operation while maintaining ship speed and increasing load capacity. To meet this objective, Sinopacific Shipbuilding Group recently proposed a new Load-to-Value (LTV) concept, a load efficiency factor that indicates such trend in the shipbuilding industry.
KPI Project Gains Momentum
So far, 120 companies have registered with the international KPI Project, started by InterManager but now an industry-led initiative. KPI data is being uploaded from more than 1,600 vessels into the web-based InterManager KPI Environment (IMKE) system. To date more than 5,000 sets of data have been submitted for each KPI category — enabling analysis to provide industry rankings for each measurement. Of the vessels submitting data tankers form the largest sector. Capt. Szymanski commented…
Wilhelmsen Increases Cargo Hold Cleaning Kit Sales in Asia
During attendance at this weekend’s Coaltrans Asia 2011, world-leading maritime services provider Wilhelmsen Ships Service has reported a significant increase in the sales of its Cargo Hold Cleaning (CHC) Kits in Asia. Wilhelmsen Ships Service offers a choice of kits, equipment and accessories for efficient cargo hold cleaning, which negate the use of scaffolding and other climbing or lifting equipment. They also offer a consultancy service run by highly trained marine professionals whom advise on safe cargo-hold cleaning operations.
Great Eastern Shipping to Sell Large Cargo Ship
India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end. "The vessel will be delivered to the buyers during the fourth quarter (January-March) of the current fiscal," the company said in a statement. Capesize dry bulk carriers, the largest cargo ships plying in international waters, are mainly used to transport coal, ores and other commodity material.
COSCO Deliver Two China-built Bulk Carriers
COSCO Corporation (Singapore) subsidiary shipyards in China deliver bulk carriers to two European buyers. COSCO (Dalian) Shipyard Co., Ltd has delivered a bulk carrier of 92,500 dwt, Sicilian Express, a post-panamax bulk carrier and the last in a series of four bulk carriers being built for Vroon at this shipyard. The ship measures 229.17 meters in LOA, 38.01 meters in breadth and 20.7 meters in depth. Secondly COSCO (Guangdong) Shipyard has delivered a bulk carrier of 57,000 dwt, Chios Sunrise, to its European buyer.
New Ship Orders Slow Through 2012
The world fleet of dry bulk and general cargo vessels is expected to continue growing through 2012, in spite of weak freight rates and general overcapacity of tonnage, as new ships on order are delivered from shipyards, according to the latest Shipbuilding Market Forecast from Lloyd’s Register - Fairplay Research. While scrapping of existing ships will also increase, it will not be sufficient to offset the massive influx of new ships, resulting in a net growth of tonnage in most segments of this market, which includes dry bulk carriers, general cargo ships, refrigerated cargo ships and dry cargo barges. The report notes that much of the current capacity consists of relatively new tonnage with plenty of years left in their service life, thereby slowing the removals to the scrap yards.
Bulk Carrier into Unithai for Fix
The largest ship currently under repair at Thailand’s Unithai Shipyard is the 140,532 dwt bulk carrier Eurydice D, owned by Marmaras. Other ships in the yard include the 35,224 dwt bulk carrier Maris, owned by Trust Shipping Enterprise, Piraeus, the 22,857 dwt part containership Med Lerici, owned by B Navi, World CI’s 3,043 dwt lpg vessel Gas Eurasia, the 22,531 dwt general cargo vessel Everise Glory, owned by Everise Maritime, Kuala Lumpur, and Baba Kaiun’s 10,100 dwt bulk carrier Ayutthaya Ruby. Also due is the 25,486 dwt bulk carrier Maritime Trader, owned by IMC Shipping.