Marine link
 

Month High

Asian LNG Prices Rise to Highest Levels

Photo: Chamber of Shipping of British Columbia

 Asian liquefied natural gas (LNG) gas prices reached a nine-month high this week as demand from India, Japan and South Korea underpinned sentiment, reports Reuters.   LNG for November delivery were about $6.20 per million British thermal units (mmBtu), 10 cents higher than last week, as supply-demand balances for the rest of the year appear tighter, said three traders who participate in the market. That is the highest since the week ending Jan. 8.   Higher crude prices are also lending support to LNG values. ICE Brent futures have gained 3.3 percent to above $52 a barrel this week following the Organizations of the Petroleum Exporting Countries announced plans to curb production.   LNG demand from North Asia remains firm as nuclear power stations in Japan and South Korea that have been taken offline are expected to stimulate demand for the super-cooled fuel.   Japan's Kyushu Electric Power Co shut the 890-megawatt No. 1 reactor at its Sendai nuclear plant on Thursday for planned maintenance that is expected to last at least two months, although a restart could be hampered by anti-nuclear local authorities.  


Asia Dry Bulk-Capesize Rates May Dip

Rates from Western Australia to China fall from six-month high. Freight rates for large capesize dry cargo ships on key Asian routes could slide next week as charterers rein in their activity following a flurry of fixtures which pushed rates from Western Australia to China to a six-month high this week, ship brokers said on Thursday. That came as all three Australian iron ore miners - Rio Tinto, BHP Billiton and Fortescue Metals Group - cashed in on higher iron ore prices with a raft of


Merger Talks In Singapore

Shares of Keppel Hitachi Zosen Ltd. and Keppel FELS Energy & Infrastructure Ltd. surged on market talk the two units of the Singapore conglomerate Keppel Corp. would be merged. Ship repair specialist Keppel Hitachi jumped as much as 47 percent to an eight-month high of S$0.575 before moving back to S$0.51, up 12 cents, in moderate trade of 3.7 million shares. KepFELS, which also has a marine business, rose eight cents to S$0.935 after surging as much as 17 percent earlier to S$1


SS&Y Capesize Indices Both Rise

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 76 points in the week ending Monday to 5,060. "The index rose back above the psychological 5,000 barrier despite a relatively quiet week," SS&Y said. "Japanese steel production was down on last month's highs but still remains a force to be reckoned with and South Africa is drawing tonnage away from the Pacific, giving further cause for optimism amongst owners


Brent Climbs Toward $115 on Iraq Crisis

Brent crude climbed to a nine-month high near $115 a barrel on Friday, as supply disruption fears took centre stage after the United States threatened military action in Iraq against Sunni Islamist militants who are pushing on towards Baghdad. The jihadists extended their lightning advance to towns only about an hour's drive from Baghdad while trucks carrying Shi'ite volunteers in uniform rumbled towards the front lines to defend the city, stoking concerns of prolonged unrest and bloodbath


Brent Crude Hits 16-month Low Under US$99

HFO: File image

Brent crude dropped to a 16-month low under $99 per barrel on Wednesday, stretching its losses into a fifth session amid continued worries about rising supplies and weak global demand. While a larger-than-expected fall in weekly U.S. crude stocks kept a floor under oil prices, gains were curbed by a firmer U.S. dollar that makes commodities priced in the greenback more expensive for holders of other currencies. The dollar index stood near a 14-month high, with some investors betting the U


Insurance Worries May Cancel Japan's Iran Oil Liftings

Japan will likely refrain from loading oil at Iranian ports in March because of the impending expiry at the end of next month of special shipping insurance cover provided by the government, industry and government officials said. The potential restriction from one of Tehran's biggest oil customers highlights Iran's difficulties in boosting exports after U.S. sanctions were lifted in January. The problem stems from confusion about whether U.S


West African Oil Loading for Asia to Slip in January

West African crude loading for Asia is expected to slide more than 10 percent in January as some buyers opt for regional grades or cargoes in floating storage, a Reuters survey of traders and shipping data showed on Thursday.   Some 1.808 million barrels per day (bpd) are scheduled to load from Nigeria, Angola, Ghana and other West African producers over the coming month, down from December's 17-month high of 2.1 million bpd.  


Baltic Index Hits Over 3-month Peak on Capesize Rally

© a_medvedkov / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to an over three-month high on Thursday, buoyed by a surge in capesize vessel activity.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, climbed 25 points, or 2.18 percent, to its highest since Dec. 6 of 1,172 points.   The capesize index rose 129 points, or 6 percent, to 2,265 points


Baltic Index Posts Biggest Daily Drop in 2 Months

File Image (CREDIT: AdobeStock)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, registered its biggest one-day percentage fall in about two months, primarily on weaker rates for capesize bulk carriers. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell for the fifth consecutive session on Wednesday. The Baltic dry index fell 2.55 percent, or 32 points, to 1


Strong Capesize Rates Keep Baltic Index at over 3-month High

© lidian neeleman / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to a fresh over three-month peak on Friday as capezise rates rallied.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Rises to Over 4-month High

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at its highest level in more than four months, helped by stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax


Asia Dry Bulk-Capesize Rates Set to Climb Again

File Image (CREDIT: AdobeStock / Lidian Neeleman)

Capesize rates hit new multi-month highs this week; BHP and FMG likely to renew chartering activity next week.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-month highs on Tuesday, could climb further on increased chartered activity by miners


Economic Indicators Pointing Up -BIMCO

© Dmitry V. Petrenko / Adobe Stock photo

The recent months’ uptick in global indicators, which implies a strengthening in the global economy, is not sufficient for the patient to be discharged yet. The state of the global economy is still uncertain, despite stronger growth dynamics in advanced economies, and not least in China.


Asia Dry Bulk-Capesize Rates Firm as Weather Delays Weigh

File Image: a large bulk carrier underway (CREDIT: BSM)

Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help


Spot Box Rates Rise Above 5-Year Average

Graph: Drewry Shipping Consultants Limited

 Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years, said a report by Drewry.   The latest weekly reading is $1,770/40ft container for the composite index


Spot box rates rise above 5-year average - Drewry

Image Drewry

Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1


Asia Dry Bulk-Capesize Rates to Hold Steady

File Image: A so-called ValeMax bulk carrier (Vale)

Brazil-China rates hit 15-month high for second time this year.   Freight rates for large capesize dry cargo ships on key Asian routes could hold steady or slip slightly next week after unexpectedly climbing this week on strong cargo volumes, ship brokers said.  


Asia Gasoline Demand Draws European Cargoes

© Chee-Onn Leong / Adobe Stock

Robust Asian gasoline demand has drawn more cargoes from Europe over the past week. At least five LR2 vessels have been fixed within the week to load 80kt cargoes of gasoline and gasoline blendstocks from NWE (mostly Mongstad) to Singapore. Gasoline from Europe typically moves to Asia on an


Asia Tankers-VLCC Rates to Hold Steady

File image of a typical VLCC underway (Credit: EuroNav)

25 MidEast cargoes still to be fixed; VLCC rates fall to 4-month low.   Freight rates for very large crude carriers (VLCCs), which hit a four-month low on Thursday, are likely to hold around current levels or nudge higher as charterers fix the final charters in February's loading


Middle East Gulf Exports Soar in January 2017

Middle East Gulf region crude oil exports by berth month and departure month from February 2016 to January 2017. (Image: Genscape)

During January – a month when all eyes were on oil production cuts – exports leaving the Middle East Gulf (MEG) region hit the highest level in at least two years, according to Genscape. At the end of November 2016, the Organization of the Petroleum Exporting Countries (OPEC) addressed


Baltic Index Gains for 9th Straight Session

© Eugene Sergeev / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, notched gains for the ninth straight session to end at a more than one-month high on Monday, helped by higher rates for panamax vessels.


Asia Dry Bulk-Capesize Rates to Climb Again

File Image (CREDIT: AdobeStock)

Number of spot capesize cargoes double from January levels; Pacific capesize earnings now around $14,000 per day.   Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-month highs this week, are set to jump further next week on tight tonnage supply and


Baltic Index Climbs to Three-month High

Handysize bulk carrier (Photo: © Pacific Basin)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at its highest level in three months on Friday, supported by robust capesize rates. The overall index, which factors in rates for capesize, panamax


Baltic Index Gains on Robust Capesize Rates

© EvrenKalinbacak / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, jumped to a more-than-three-month high on Wednesday, as rates for capesize vessels soared. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright