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.
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.
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…
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.
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.
Shipping Recovery Faces Supply/Demand Challenges
The shipping industry faces a stormy road to recovery, with uneven supply/demand trends set to test the nerve of investors and operators, according to independent research and consultancy firm Maritime Strategies International (MSI). Addressing the Hansa Forum in Hamburg, Germany this week, MSI Senior Analyst James Frew warned that the industry will continue to face multiple challenges to a sustained recovery despite positive demand fundamentals. “The commodity shipping sectors…
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.
Hyundai Heavy Foreign Ship Orders At $440M
Hyundai Heavy Foreign Ship Orders At $440M South Korea's Hyundai Heavy Industries Co. won $440 million in foreign shipbuilding orders for 11 vessels so far this month. The details are as follows: -Taiwan's Yangming Marine Transport Corp. ordered two 5,500 teu container carriers -A Greek shipping firm ordered two 172,000 dwt bulk carriers -An Indian shipping firm ordered one 75,000 dwt bulk carrier -South Africa's Safbulk ordered four 172,000 dwt bulk carriers -Turkey's Besiktas ordered one 165,000 dwt crude carrier -Liberia's Countess Shipping ordered one 73,000 dwt oil product carrier
Univan Reports Steady Growth in 2003
in excess of 80 ships under full technical management. for its unique expertise and dedicated technical and crewing pool. fleet well into the 80s range. dedicated teams .. from management to crews .. .. is clearly the way to grow in the future," according to Univan's Chairman, Capt Vanderperre. bodes well for the company's future," he continued. car carriers ... ships. supervision for 3 Panamax vessels, at the Oshima Shipyard in Japan. in good shape. Vanderperre concluded. to the Univan fleet from Fred Cheng's Shinyo Group in Tokyo.
Piracy: Second Red Sea ‘Mass Attack’ Suggests New Trend
Following a report filed on Sunday August 7, 2011, by the IMB Live Piracy Reporting Center, which saw suspected Somali pirates at 13:02N 043:07E attempt to hijack a vessel off the coast of Eritrea in large numbers, Neptune Maritime Security raised concerns over this apparent change of tactics. Unfortunately, it would indeed appear that pirates in the area are banding together in an attempt to ‘swarm’ vessels. On Thursday August 18th, the IMB Live Piracy Reporting Centre listed an attempted hijacking* on a bulk carrier underway around 22nm NE of Assab, Eritrea in the Red Sea at 13:16N 043:01E. Interestingly, this is approximately 26.19km North of the attack on August 7th, and could suggest that this large group of pirates have a specific area of operations.
MES Delivers Pair of Bulk Carriers
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 56,000 dwt type bulk carrier M.V. “DESERT CONDOR” (MES Hull No. 1776) at its Tamano Works on September 29, 2011 to New Borough Corp., Marshall Islands. This vessel is a handy-max type bulk carrier of 56,000 dwt with a huge cargo hold capacity over 70,000 m3 and marks the 133rd ship of its series. This 56,000 dwt type bulk carrier series of MES is widely called “Mitsui’s 56” and is highly appreciated in the market. About 170 units of this series have been ordered from MES.
Star Bulk Takes Delivery of Supramax Vessel
Star Bulk Carriers Corp. has taken delivery of the Star Cosmo, a Supramax bulk carrier of approximately 52,247 dwt, built in 2005. The vessel comes with a staggered 3-year charter to Korea Line that commenced on March 17, 2008, at a gross daily rate of $55,900, $41,900 and $27,900 for the first, second and third year respectively. With the delivery of Star Cosmo, Star Bulk's operational fleet currently consists of twelve dry bulk carriers. In addition, the Company has definitive agreements to acquire one Capesize dry bulk carrier and to sell its oldest vessel, a Panamax dry bulk carrier. The contracted fleet operating days under time charter in 2008, 2009 and 2010 are currently 100%, 84% and 63% respectively.
Signed Contracts for Acquisition of Two Resale Supramax Bulk Carriers
The Shipping Corporation of India Ltd. (SCI) has signed contracts for acquisition of two resale Supramax bulk carriers with M/s Grand Yard. Investments Ltd., China on 15th April, 2011. These vessels have been acquired through a competitive global tendering process and SCI has selected the vessels of M/s Grand Yard Investments based on the technical suitability and commercial competitiveness. These vessels are presently under construction at M/s Guoyu Shipyard, China which is under the same group of M/s Grand Yard Investments Ltd.
Drewry's Analysis Raises Questions for the Dry Bulk market
London, UK, September 15 2003: Drewry Shipping Consultants, the world's leading maritime consultants, today announced that its latest report, “Annual Dry Bulk Market Review and Forecast 2003/04”, is now available to purchase. This in-depth review of the market addresses the question: how long will the current high freight rates and even higher levels of optimism continue? The market is currently buoyed by high freight rates and even higher levels of optimism but with the market hitting an all time peak in May 2003 and recording consistently firm levels ever since, the question now is how long will this last? “The forecasts for the global economy over the short term are steady…
Cargill Dumps Shipping Arm
Cargill has announced a change in shipping strategy, following the sale of its last four remaining Panamax bulk-carriers, and from here on will charter in ships for all its cargo requirements. "The widespread trend towards consolidation and size within the ship owning segment implies one either gets bigger or scales back," said Vice President of Cargill International Tom Intrator in a statement. Cargill will continue to retain a strong time-chartered fleet, numbering nearly 150 vessels, and its commitment to this strategy is illustrated by the fact that the last four ships were sold with an agreement to charter them back for five years. That fact alone assured the ships fetched $1-2 million above prevailing market rates.
Panamax Rates Expected to Improve
Panamax freight rates are expected to improve this week, although the Baltic Panamax Index rose just one point to 1,626 on March 12. Shipbrokers said Panamax freight rate movement for voyage charters has been tentatively positive recently, and while some timecharter rates have been marginally negative compared with previously done levels, the Panamax sector seems to be stabilizing ahead of an upward move. The only cause for concern was the decline in the Capesize sector. While it is not impossible for rates in the dry bulk carrier sectors to move in different directions, as the opposite trends of the Capesize and Panamax demonstrated last year, it will be difficult for the Panamax market to ignore a failing Capesize sector.