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Rates Set

Seaway Stakeholders File Suit Against US Coast Guard

A bulk carrier alongside the pier (File photo: FedNav)

Ports and vessel operators challenge what they call “flawed pilotage fees”   A coalition of U.S. Great Lakes ports, vessel operating companies and maritime trade associations today filed suit in the U.S. District Court for the District of Columbia challenging the U.S. Coast Guard’s 2016 increase in Great Lakes pilotage rates, the American Great Lakes Ports Association (AGLPA) announced.   The complaint was filed by a coalition including the AGLPA, along with the Shipping Federation of Canada and the U.S. Great Lakes Shipping Association, as well as vessel operating companies Fednav International Ltd, Canfornav Inc., Polish Steamship Company, Spliethoff Transport, Brochart Shipping and Wagenborg Shipping.   The coalition disputes the agency's proposed 58 percent increase in pilotage fees to be implemented over 2016 and 2017, arguing flaws in the agency's work.   “Great Lakes pilotage costs have gone up 114 percent over the last 10 years. The Coast Guard wants to increase them another 58 percent by 2017. These increases are unsustainable and will ultimately erode the viability of international trade through Great Lakes ports,” said Will Friedman, President of the Cleveland-Cuyahoga County Port Authority.   Steve Fisher, Executive Director of the American Great Lakes Ports Association, said


NCL First with Onboard Cell Service

NCL Corporation will be the first cruise line to bring passengers on North American cruises the ability to use their cell phones even when communications towers are oceans away. The company is providing the innovative new offering through Wireless Maritime Services, a joint venture of AT&T Wireless and Maritime Telecommunications Network (MTN). Leading the way in shipboard technology, NCL pioneered the industry's first Internet access on the high seas with its Internet cafe in 1999


Container Ship Charter Rates Seen Surging In 2001

Container ship charter rates are reportedly set to recover from their current depression by 2001, according to shipping analysts.


CAT 3500 D-F Gensets Power Rio Fast Ferries

Fast ferry for Rio Olympics: Photo courtesy of Cat Marine

Caterpillar Marine with Cat Dealer Pon Power are pleased to announce the first Cat 3512C marine generator sets with Dynamic Gas Blending (DGB) have been selected to power Assessoria Transporte Aquaviaro fast ferries for the 2016 Olympics in Rio de Janeiro, Brazil. A total of 28 Cat generator sets will be installed on 7 aluminum-hull fast ferries, with 14x Cat 3512 generator sets and 14x Cat 9 generator sets providing prime and auxiliary power


USCG Sets 2015 Drug Testing Rate

The Coast Guard set the calendar year 2015 minimum drug testing rate at 25 percent of covered crewmembers. The minimum random drug testing rate is effective January 1, 2015 through December 31, 2015. The Coast Guard requires marine employers to establish random drug testing programs for covered crewmembers on inspected and uninspected vessels. Every marine employer is required to collect and maintain a record of drug testing program data for each calendar year


Maersk Line Lowers Asia-Europe Freight Rates

Photo courtesy of Maersk

Maersk Line, the world's largest container shipping company, told its clients on Tuesday it will set the maximum freight rate from Far East Asia to Europe at $1,250 per 20-foot container (TEU) as of August 1, down by $200 from the previous month's comparable rate.   The set rate, which applies to all kinds of freight, will not necessarily go through as the shipper is often forced to accept far lower rates because there are too many vessels available to ship goods.  


Panamax Rates Firmer

Panamax freight rates in the Atlantic were firmer March 13 and may edge up further due to a seasonal boost, brokers said. They said the market was seeing steady increases and that fixtures for Panamax voyage charters had risen slightly with the timecharter sector looking better. However, the Capesize freight rate declined and has made some cautious about the sector. Brokers said the 1990-built 69,306 dwt Ispat Umang had attracted a healthy rate of $11,400 daily for prompt delivery Ghent


Four Shipping Companies Upgraded By ING

It looks as though the notoriously cyclical shipping sector is heading back up the mountain, as last week one of the world's prestigious financial firms stamped four companies with an investment ratings uprade. ING Barings last Wednesday raised its ratings on four shipping companies to strong buy from buy. Analyst Stephen Gengaro raised his ratings on shares of Frontline Ltd., OMI Corp., Overseas Shipping Group and Teekay Shipping.


Ins and Outs of Tanker Spot Rate Analysis Revealed

Analysis: Image credit McQuilling Services

Marine Transport Advisors, McQuilling Services, explain important elements of their forecasting process when they develop the final forecast set out in their recent '2014-2018 Tanker Market Outlook' analysis. The Outlook is synthesized from the following six components: Quantitative Modeling Sensitivity (reference, high and  low cases) Experiential Adjustments Tonnage Supply & Demand Bias (Capacity index) Previous Outlook & Market Performance


Cat Power Solution for Teekay Offshore

Image: Caterpillar Marine

Caterpillar Marine announced that Cat power and propulsion offerings have been selected to provide complete propulsion solutions for four ocean-going towing vessels designed by Ulstein Design and Solutions. Each vessel will have four 9 M 32 C propulsion engines, rated at 4,500 bkW at 600 rpm. Also onboard each vessel will be three Cat C32 auxiliary generator sets rated at 940 ekW at 1,800 rpm as well as one Cat C9 generator set to provide emergency power


New Quetzal Terminal Welcomes CSAV Traiguen

Photo: APM Terminals

 The 8,600 TEU capacity CSAV Traiguen became the largest container ship to call a Guatemalan port when it arrived at Terminal de Contenedores Quetzal (TCQ) on Guatemala’s Pacific Coast on April 12th, 2017, on the maiden call of German-based Hapag-Lloyd’s Mediterranean Pacific


Baltic Index Down as Capesize Rates Sag

File Image (CREDIT: AdobeStock / (c) lidian neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1


Falling Capesize Rates Weigh on Baltic Index

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday on sliding rates for capesize vessels, weighed further by weaker panamax demand.   The overall index, which factors in rates for capesize, panamax


Baltic Index Falls to Weakest Since Mid-December

© norinut / Adobe Stock

The Baltic Exchange's main sea freight index marked its biggest percentage decline since mid-December on Friday as rates for larger vessels dipped due to limited activity. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 3.86 percent.


Baltic Index Gains on Firmer Panamax Rates

© Eugene Sergeev / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose marginally on Monday supported by stronger rates for panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Strengthens on Broad Support

file Image (CREDIT: FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday on stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 31 points


Quality of Ocean Carriers “Poor to Average”

Image: Drewry Shipping Consultants Limited

 The service provided by container shipping lines is rated as poor to average and has deteriorated in the past year, according to a survey of exporters, importers and freight forwarders conducted jointly by Drewry and the European Shippers’ Council (ESC).  


Baltic Index Rises as Panamax Rates Hits High

© fresh_water / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday as panamax rates surged to their highest in over three years and capesize activity firmed up. The overall index, which factors in rates for capesize, panamax


New Cutmaster 60i Plasma Cutter

Photo: Thermal Dynamics

Thermal Dynamics, an ESAB brand, announced that its new Cutmaster 60i handheld air plasma cutting system is now available for purchase through traditional and online welding distribution outlets. Cutmaster 60i weighs 37 lbs. and provides a rated output of 7.6 kW at 50 percent duty cycle at 60A


MPC Rolls Out New Box Ship Investment Firm

Photo: MPC Capital AG

 MPC Capital AG, an international asset and investment manager, has initiated an investment company with a focus on small-size container ships between 1,000 and 3,000 TEU.    The newly formed 'MPC Container Ships AS' raised USD 100 million in equity in a private placement towards


Indian Ports Register 6.79% Growth in Traffic

Image: Indian Ports Association (IPA)

 The twelve major ports under the Ministry of Shipping, India handled a record 647.43 MT of traffic in 2016-17, registering an annual growth rate of 6.79 percent, as against 4.32 percent last year.    With this, these ports have out- performed private ports for the second


Smaller Bulkers Buoy Baltic Index

File Image: a smaller, modern bulk vessel underway (CREDIT: FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, supported by stronger rates for smaller vessel segments even as capesize rates weakened.   The overall index, which factors in rates for capesize, panamax


Essar to Develop LNG Terminal at Haldia

Photo: Essar Official FB Page

 India's Essar Ports has won a contract to build the first liquefied natural gas (LNG) terminal in West Bengal  under the Kolkata Port Trust (KoPT) at an investment of Rs 450 crore (USD 70 million).   A Press Trust of India report said that the LNG project is expected to be


Weaker Capesize Rates Weigh on Baltic Index

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on weaker rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down two points, or 0


Seanergy Bags Time Charter for Capesize Bulker

Photo: Seanergy Maritime Holdings Corp

 Seanergy Maritime Holdings Corp has entered into a time charter contract (T/C) with a major European charterer, for one of its Capesize dry bulk vessels, for a period of about 18 months to about 22 months.    The T/C is for the 180






 
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