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Baltic Dry Index Weak, Shipping in Troubled Waters
Baltic Dry Index (BDI), which tracks the cost of shipping iron ore, coal, grain and other materials, is continuing to remain weak as Chinese imports of commodities…
Shipping Industry Faces Shake Up
As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry. Private equity invested tens of billions in global shipping after the 2008 financial crisis, but weaker Chinese demand and an oversupply of ships has driven down freight rates and caused firms to idle vessels and in some cases file for bankruptcy.
S. Korea's Daebo Int. is 3rd Dry-Bulk Shipper to File for Bankruptcy This Month
A third dry cargo shipper has filed for bankruptcy this month following a collapse in freight rates to historic lows in what shippers call the worst market conditions since the 1980s.
Oversupply, China Slowdown Push Freight Prices Down
Freight shipping prices have plummeted to a historic low, fueled by a long-standing problem of too many ships and lower demand from China, as per a report in AFP.
Second Bulk Shipper Files for Bankruptcy
Dozens of iron ore and coal carriers idled as Baltic dry index falls to all-time low. A second dry cargo shipper has filed for bankruptcy following a collapse in…
ASL Marine's Profits Plummet
Singapore-based ASL Marine's profits for the second quarter ended 31 December 2014 dived 78.4% year-on-year to SGD1.432 million (USD1.05 million). Revenue also plunged…
Shipping Rates Drop as China Cuts Coal Need
Shipping costs plunged to almost the lowest on record following tumbling demand for coal in China and weakening growth in the nation’s iron ore purchases, reports Bloomberg.
Tough Line on Shipping Loans: ECB
ECB in discussion with German supervisors; question over treatment of ship loans in health check. Compromise emerging which may involve 'haircut' on loan valuations.
Mercator Lines Profit Hit by Low Bulk Freight Rate
Mercator Lines (Singapore) reported a revenue of US$ 16.5 million for Q1 2015, an increase of 19% as compared to correspoding period in the previous previous year…
Shipping Confidence Trending Higher Into 2014, Finds Survey
The shipping world appears to be entering 2014 with a higher level of confidence than it has the past three years, according to the latest Shipping Confidence Survey from international accountant and Maritime London member Moore Stephens. The firm noted encouraging news on freight rates. According to London’s Baltic Exchange its headline Baltic Dry Index, which tracks dry bulk freight rates, stood at an average of 1205 points over the whole of 2013 against 929 the previous year.
China Demand Edges Commodity Freight Rates Upward
Rates to ship iron ore, coal and grains rose for the longest streak in almost a year on speculation Chinese demand increased. The Baltic Dry Index gained for a 15th straight session…
Storms Cause Australia Bulk Rates to Dip
Iron ore and coal shipping rates slid for a fifth day amid speculation storms in Australia are curbing demand for vessels. Australia is the world’s largest exporter…
Ship Operators Climb Aboard Higher Dry-bulk Rates
Charter rates for capesizes have risen 50 percent from lows in mid-September. Rates have risen because of increasing demand as well as customers having to pay more…
Ship Building Supply Glut Bites China's Shipyards
Chinese shipyards register a 49% plunge in first half 2012 orders. 'Gulf News' informs that China has 1,536 shipyards with annual sales of more than five million yuan ($780…
COSCO Singapore Clarifies Recent Press Articles
The Board of directors of COSCO Corporation (Singapore) Limited (the “Company”) refers to the articles which appeared in The Straits Times on 30 June 2012 entitled…
Braemar Asks: Is Another Demolition Spike Due?
As the Baltic Dry Index plumbs all-time depths, those with long memories are recalling the dark days of the 1980s for the shipping markets. However, steel traders can look forward to a bumper year of supply of vessels for recycling this year, if previous experience offers a guide for the 2012 outlook. Bets are now being taken about how many vessels will be forced by the weak freight markets into the arms of recyclers.
TBS International Reports Q1 Results
DUBLIN, IRELAND, May 09, 2011 (MARKETWIRE via COMTEX) -- TBS International plc (NASDAQ: TBSI) announced today its financial and operating results for the first quarter ended March 31, 2011. Ferdinand V. "The weakening freight and charter rate environment that began in the second half of 2010 continued into early 2011, and adversely affected our revenues and our ability to maintain financial ratios as required by our credit facilities.
TBS International Reports Q4 and Year 2010 Financial Results
DUBLIN, IRELAND, Mar 15, 2011 (MARKETWIRE via COMTEX) --TBS International plc (NASDAQ: TBSI) announced today its financial and operating results for the fourth quarter and year ended December 31, 2010. Joseph E. "The TBS results for the fourth quarter 2010 reflect the ongoing downward pressure on dry cargo freight rates that have continued into the first quarter of 2011, as evidenced by the Baltic Dry Indices.
Seanergy Q2 & Six Month Report
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) (NASDAQ: SHIPW) announced its operating results for the second quarter and six months ended June 30, 2010. Dale Ploughman…
The Recovery Continues: A Fearless Forecast
I hope that this headline, if you saw it, scared you as much as it did me. Although I have some confidence about the future of shipping, or I wouldn’t be here, my topic today is about forecasting.