Ultramaxes Gain Traction for Coal Trading

MarineLink.com/Platts
Monday, July 29, 2013
Ultramax Bulk Carrier:Image courtesy of Sinopacific Shipbuilding Group

A fairly new breed of bulk carrier is becoming popular in the Asian dry cargo market by promising more savings for charterers and shipowners thanks to higher carrying capacity and fuel efficiency, according to trade and industry sources cited in a Platts analysis.

Launched in 2011, the Ultramax class bulker carrier -- designed to carry bulk cargoes including coal, iron ore, grain and cement -- is now preferred by coal traders and shipowners for its low hire and operating costs.



According to Platts, many dry market watchers feel the Ultramax vessels would make a good choice for coal trading over Supramax vessels due to a number of reasons. For one, Asia's burgeoning coal trade led by strong import appetite from China, India and Thailand would see a greater call for vessels with the capacity to carry the incremental volumes.



Source: Platts

Maritime Reporter November 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

Delta "T" Hooks for Offshore Customer

Gaining further ground into the offshore crane market, Delta "T" Systems supplied Cranston Eagle hooks to crane manufacturer Appleton Marine, Inc.   These cranes

China to Import 335 MT of Naphtha, Wants More

China is set to import more than 335,000 tonnes of naphtha and diesel, rare moves for the world's no. 2 oil consumer given it has been self-sufficient at meeting domestic oil product demand,

Bulk Carrier Trends

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

Bulker Arrives to US on Her Maiden Voyage

The Port of Vancouver USA welcomed the Kypros Unity, commanded by Capt. Wilfredo F. Itable of Cyprus, on her maiden voyage Oct. 28. Capt. Itable and his 20-member

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1687 sec (6 req/sec)