Bulk Carrier Sector News

Pelagic Partners’ second compartment continues its expansion with the recent addition of another bulk carrier, bringing the total number of vessels under this compartment to seven and total acquired fleet of 18 since inception.Constructed in 2015 at Hudong-Zhonghua Shipbuilding in China, the vessel UBC Houston has a carrying capacity of 39,000 deadweight tons (dwt).Following the reflagging process, the vessel is now registered under the Cyprus flag and is actively trading within…

International accountant and shipping consultant Moore Stephens says total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.Responses to the firm’s latest annual Future Operating Costs Survey revealed that drydocking is the cost category likely to increase most significantly in both 2018 and 2019, accompanied in the latter case by repairs and maintenance. The cost of drydocking is expected to increase by 2.1% in 2018 and by 2.3% in 2019…

The multipurpose shipping market will see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry. Dry cargo demand is weak but strengthening with multipurpose shipping market share expected to grow at just under 2% per year to 2020. Demolition levels are up in both the multipurpose and competing sectors, whilst newbuilding ordering has waned, which will result in minimal aggregate multipurpose fleet growth to 2020. The future market prospects for the multipurpose shipping sector are not only dependent on the supply-demand balance for that segment…

The multipurpose shipping market will see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry. Dry cargo demand is weak but strengthening with multipurpose shipping market share expected to grow at just under 2% per year to 2020. Demolition levels are up in both the multipurpose and competing sectors…

Mitsui Engineering & Shipbuilding Co., Ltd. (MES), foreseeing the effects of the shale gas revolution to maritime industries, has been developing new type medium size multi gas carrier for sea transport of liquefied natural gas (LNG) and co-product of shale gas such as ethane and ethylene gas (LEG). In the coming decade, LNG carriers (LNGC) may probably be classified into large scale LNGC and medium scale LNGC centering on the hub ports over the world, the builder said. Meanwhile, LEG carriers (LEGC), which have been usually small ones, are expected to shift to larger LEGCs, which are comparable with medium scale LNGC in terms of the capacity, MES added.

Clarkson Hellas S+P Weekly bulletin reports a relatively active week of newbuildings, with a notable number of new orders, although none in the tankship market. Dry bulk carrier sector: In particular this week Clarkson Hellas has seen further ordering in the mid‐sized dry sector and very much focussed on Ultramax. Starting with the larger sizes, Great Eastern Shipping of India were reported to have placed an order for two firm 81,600 DWT Kamsarmax at Tsuneishi Cebu. Pricing for these orders remains undisclosed however but understand delivery of both vessels is due in the first half of 2016.

DY4001, lead ship of CROWN 63 - 63,500 DWT bulk carrier - successfully completed all sea trial items and began to make her return voyage on February 17. BV to issue its 1st EEDI certificate in Asia. The vessel’s speed trial has been proved to be beyond design prediction and met all the guarantee items specified in contract for delivery. Since DY4001 began sea trial on February 11, Dayang Shipyard’s Marine Dept., Outfit Dept. and Sinopacific Group Design have been implementing…

Calling 2007 “a truly remarkable year,” ABS Chairman and Chief Executive Officer, Robert D. Somerville reported a record fleet size and record orderbook to the 146th Annual Members Meeting of the classification society, held in . Acknowledging that “ABS has benefited from the quite extraordinary bull run of the last few years,” attributed much of the success of the organization to the more than 3,300 employees around the world. “I am convinced that we would not have benefited to the extent that we have without the unflagging efforts of the ABS staff,” he told the meeting. “It is the people of ABS that differentiate our services. reported that, in the twelve months to end-2007, the ABS classed fleet grew by 9m gross tons to yet another record of 135.4m gt.

A very active newbuilding market, an expanding fleet and a significant number of older vessels undergoing survey to extend their service life in the buoyant market, led to 2006 being the most active year ever in the long history of ABS, the world's third largest classification society. At the Annual Meeting of the 145 year old society, held in New York, members were given details of the continuing growth in the ABS fleet and the positive outlook for the society based on its record orderbook. Reporting on the society's performance in 2006, ABS President and COO Christopher J. Wiernicki told the meeting that, by year's end, the classed fleet had reached 126.5m gt, the third consecutive record year.

There has been a reduction in the number of total losses of merchant ships since the year 2000. New statistics released by the International Union of Marine Insurance (IUMI), which represents marine underwriters worldwide, indicate that 67 ships (of 500 gross tons and over) were total losses in 2006, compared to 140 in 2000 and a peak of 182 during the 1990s. However, this news is heavily diluted by an equally dramatic increase in serious partial losses, up by 200% since 1998. IUMI stresses these are preliminary figures for 2006 as both total and partial losses or constructive total losses can rise in the early months of this year. The 2006 losses equate to approximately 0.1% of the world fleet, compared to 0.3% in 1996 and nearly 0.5% in 1990.

There has been a dramatic reduction in the number of total losses of merchant ships since the year 2000. New statistics released today by the International Union of Marine Insurance (IUMI), which represents marine underwriters worldwide, indicate that 67 ships (of 500 gross tons and over) were total losses in 2006, compared to 140 in 2000 and a peak of 182 during the 1990s. However, this news is heavily diluted by an equally dramatic increase in serious partial losses, up by 200% since 1998. IUMI stresses these are preliminary figures for 2006 as both total and partial losses or constructive total losses can rise in the early months of this year. The 2006 losses equate to approximately 0.1% of the world fleet, compared to 0.3% in 1996 and nearly 0.5% in 1990.

per cent in their total operating costs, compared to the previous year. crew costs. to upgrade their ships. bulk carrier sector. keep a tight rein on costs. overall 1.2 per cent on the previous year. significant variations across different vessel types. expenditure on repairs and maintenance. becoming beautiful. actually down on last year, it still came in at an average 9.2 per cent. remains a premium for experienced, specialist crew. was recorded in respect of insurance. the market, recorded the biggest increase, at 31.2 per cent. have gained some courage from a series of big losses. significant general increases. 2005. This year's report covers the twenty most common vessel types. and administration. since last year and information on dry-docking costs and duration.