Asia Dry Bulk-Capesize Rates to Fall as Cargo Dries Up
Rates from Brazil to China fall by $4/tonne, $6,000/day; queues at Dalrymple Bay to ease, return to normal in January. Freight rates for large dry cargo ships on key Asian routes could slide further from multi-week lows as chartering activity thins during the holiday season and abundant tonnage for January weighs on rates, brokers said. Capesize rates from Brazil to China have dropped by $4 per tonne in the last week, equivalent to a daily earnings fall of about $6,000. Port congestion in Australia and China which helped propel rates to three-year highs earlier this month is also expected to ease. Hold-ups at Hay Point and Dalrymple Bay, one of the world's largest coal export facilities and where at least one panamax bulk carrier waited more than six weeks to load, are set to clear.
China, Australia Ports Clogged as Coal, Ore Demand Soars
Around 300 ships caught in jam that would stretch 40 miles; freight rates for biggest coal, ore carrier hit 3-yr high. More than 300 large dry cargo ships are having to wait outside Chinese and Australian ports in a maritime traffic jam that spotlights bottlenecks in China's huge and global commodity supply chain as demand peaks this winter. With some vessels waiting to load coal and iron ore outside Australian ports for over a month, key charter rates have jumped to their highest in more than three years. Placed end-to-end, the total delayed fleet would stretch more than 40 miles, enough to span the English Channel from Dover to Calais and back.
Australia Reveals Barrier Reef Protections
UNESCO's World Heritage Committee is due to decide in June whether to put the reef on its "in danger" list because its corals have been badly damaged and some of its animal species, including dugong and large green turtles, are threatened. Such a listing could lead to restrictions on shipping and port expansions that could hit Australia's trade in commodities and energy. Environment Minister Greg Hunt issued proposed changes to regulations to carry out the ban, which he announced in November, barring sea dumping of dredged soil in the 345,000 sq km Great Barrier Reef Marine Park. The park is under federal government control. The Queensland state government also plans to ban dredge dumping in a further 3…
BHP Billiton Congratulates Women in Resources
More diverse workforces are helping resource companies achieve superior performance, safety and stable production, says BHP Billiton’s Human Resource President, Mike Fraser. Mr Fraser delivered the keynote address at the inaugural Women in Resources Awards (WIRNA) in Brisbane today, with the national awards program building on the state-based Resources Council awards, celebrating the achievements of women, men and companies who make outstanding contributions to the industry. Mr Fraser spoke about the important business benefit that comes from diversity and inclusion. “Diversity and inclusion make good business sense,” Mr Fraser said. “We have found that where our workplaces are more inclusive and collaborative, we achieve superior performance results.
Horizon Enters into OSHA Partnership
Horizon Lines of Puerto Rico, Inc., a subsidiary of Horizon Lines, Inc., participated in a signing ceremony of its Maritime Industry Safety Partnership Agreement with the International Longshoremen's Association (ILA) Local 1575 and the Occupational Safety and Health Administration. This agreement marks the second time Horizon Lines has taken a leadership position nationwide with a safety program of this nature. In 2002, the company became the first ocean carrier and marine terminal operator in the U.S. to sign an OSHA Strategic Partnership. This most recent activity allows Horizon Lines to make history by signing the newest partnership agreement that will focus on the health and safety of its labor force. The ceremony took place today at ILA Local 1575 Offices in San Juan.
Pact Signed for Drydock Project
Ahmed bin Abdulnabi Macki, minister of finance and national economy and deputy chairman of the Financial Affairs and Energy Resources Council, signed on behalf of the Sultanate's government while Nam San-tae, Daewoo chief executive officer and president, signed on behalf of his company. As per the 10-year agreement, Daewoo Shipbuilding and Marine Engineering Co. Ltd, will provide administrative and technical support, transfer of modern technology used for ship repairing and maintenance of the dockyard project in Duqum. During its management of the project, the Korean company will prepare a work plan on marketing the services of the dry dock yard in Duqum to various international shipping companies…
Oman to Buy Catamaran Ferries
Oman recently signed a major contract with the Australian shipbuilder Austal to buy two 65-meter, 50-knot, multipurpose state-of-the-art passenger-vehicle catamaran ferries. Ahmed bin Abdulnabi Macki, minister of national economy and deputy chairman of Financial Affairs and Energy Resources Council, and John Rothwell, executive chairman of Austal, signed the contract. The vessels, scheduled for delivery in 2007 and early 2008, will have a capacity to carry 203 passengers and 56 cars. These ferries are expected to provide a new tourism service to Oman, and will be the flagship vessels in the country’s expanded marine transport and security network. Each ferry is to be powered by four MTU 20-cylinder 1163-series diesel engines, driving a Rolls Royce/KaMeWa water-jet propulsion system.
