Baltic Capesize News

04 Jul 2017

Dryships Time Charter Contract for Newcastlemax Vessels

Image: DryShips Inc

DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has entered into a time charter with a major coal and steel trader for its fourth and last of its 206,000 dwt Newcastlemax drybulk vessels. The contract has a duration of about one year, with a gross rate linked to the Baltic Capesize Index (5 T/C route) plus 20% and will commence upon the delivery of the vessel, expected in July 2017. DryShips owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels…

18 Apr 2017

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 180,000 dwt Capesize vessel M/V Lordship and is expected to commence in June 2017, upon expiration of the vessel's current T/C with the same charterer. The net daily charter hire is index-linked rate based on the 5 T/C route rate of Baltic Capesize Index (BCI).

23 Feb 2017

Dry Bulk Back from the Brink

Photo: Dennis Schnell, Bulldog and Partners

While the tanker industry worries about OPEC reducing output and the container industry rushes to consolidate, dry bulk values have been quietly increasing. VesselsValue senior analyst William Bennett digs through the data to uncover the reasons why. Bulker values in the last 12 months have hit rock bottom and are now looking to show considerable promise. Five-year-old handysize values are up by over 40 percent; as are 15-year-old Panamax and Supramax asset prices. Pre-2002 built Capes are up by around 35 percent since February 2016.

24 Sep 2015

Seanergy Maritime 2Q Revenue Nets $1.8 mln

Dry bulk shipper Seanergy Maritime Holdings Corp. announced its financial results for the second quarter and six months ended June 30, 2015. For the three months ended June 30, 2015, the company generated net revenues of $1.8 million. Total equity as of June 30, 2015 was $9.4 million. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated, “In the second quarter of 2015, Seanergy restored its revenue-generation capacity through the acquisition of its first vessel, the M/V Leadership, in March 2015. The Time Charter Equivalent (“TCE”) rate earned by M/V Leadership during the second quarter of 2015 amounted to $9,788, which compares very favorably with the average rate of the 4 T/C routes of the Baltic Capesize Index for the same period of $4,601.

11 Mar 2015

Baltic Index Retreats with Falling Capesize Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped on Wednesday. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 3 points, or 0.53 percent, to 565 points. The Baltic's capesize index fell 26 points, or 5.69 percent, to 431 points. "A cyclone outside Australia is threatening to close the Dampier port and as a consequence miners are withdrawing from booking vessels as their schedules are unclear," RS Platou Markets analyst Frode Morkedal said in a note on Wednesday. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $242 to $4,357.

24 Dec 2014

Baltic Index Slips with Falling Panamax Rates, Capesize Revives

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell further on Wednesday, dragged down by decreasing panamax rates. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, shed 6 points, or 0.76 percent, to 782 points. The Baltic's capesize index inched up 2 points, or 0.42 percent, to 474 points - the first upward movement since November 21, after the index hit its lowest on record on Tuesday, according to data available on the Baltic Exchange website that dates back to March 1999. Average daily earnings for capesize vessels rose on Wednesday, settling up $35 at $4,945.

11 Apr 2014

Baltic Sea Freight Index down on Weak Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped for a 14th straight session on Friday, driven mainly by falling capesize rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 27 points, or 2.62 percent, to 1,002. The Baltic's capesize index fell 76 points, or 4.08 percent, to 1,789 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $721 $11,042. Capesize rates have fallen about 32 percent this week. The panamax index fell 5 points, or 0.64 percent, to 782 points.

10 Apr 2014

Falling Vessel Rates Keep Baltic Freight Index Down

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday for a 13th straight session as vessel rates continued to soften. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped 32 points, or 3.02 percent, to 1,029. The Baltic's capesize index fell 81 points, or 4.16 percent, to 1,865 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $825 at $11,763. The panamax index fell 7 points, or 0.88 percent, to 787 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes between 60,000 and 70,000 tonnes, were down $56 at $6,346.

09 Apr 2014

Baltic Sea Freight Index Down Again

The Baltic Exchange main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday for a 12th straight session on weak rates for capesize vessels. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 37 points, or 3.37 percent, to 1,061. The Baltic's capesize index fell 83 points, or 4.09 percent, to 1,946 points. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $927 to $12,588. The panamax index fell 7 points, or 0.87 percent, to 794 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes between 60,000 and 70,000 metric tons, were down $62 to $6402.

08 Apr 2014

Baltic Sea Freight Index Down, Capesize Rates Slump

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an 11th straight session on Tuesday, mainly driven by a heavy drop in capesize vessel rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 88 points, or 7.42 percent, to 1,098. The Baltic's capesize index fell 264 points, or 11.5 percent, to 2,029 points. Average daily earnings for capesizes, which typically transport 150,000-metric-ton cargos such as iron ore and coal, were down $2,695 at $13,515. The panamax index fell 11 points, or 1.35 percent, to 801 points.

07 Apr 2014

Falling Vessel Rates Pull Down Baltic Sea Freight Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a tenth straight session on Monday as vessel rates continued to fall. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 19 points, or 1.58 percent, to 1,186. The Baltic's capesize index fell 13 points, or 0.56 percent, to 2,293 points. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $241 to $16,210. The panamax index fell 10 points, or 1.22 percent, to 812 points. Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 tonnes, were down $83 to $6,548.

04 Apr 2014

Baltic Sea Freight Index Down

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a ninth straight session on Friday on lower vessel activity. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 30 points, or 2.43 percent, to 1,205. The Baltic's capesize index fell 37 points, or 1.58 percent, to 2,306 points. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $533 to $16,451. Capesize rates fell about 16 percent this week. The panamax index fell 14 points, or 1.67 percent, to 822 points.

03 Apr 2014

Baltic Freight Index Down, Capesize, Panamax Rates Fall

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an eighth consecutive session on Thursday as rates for capesize and panamax vessels continued lower. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 38 points or 2.99 percent to 1,235. The Baltic's capesize index fell 75 points, or 3.1 percent, to 2,343 points. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $691 to $16,984. The panamax index fell 31 points, or 3.58 percent, to 836 points.

10 Mar 2014

Baltic Freight Index up on Higher Dry Bulk Activity

Reuters - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose 19 points to 1,562. The Baltic's capesize index rose 43 points or 1.4 percent to 3,023 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $505 at $24,748. The panamax index increased 13 points, or 1.2 percent, to 1,088 points. Average daily earnings for panamaxes, which usually carry 60,000- to 70,000-tonne cargoes of coal or grains, were up $106 at $8,757.

30 Dec 2013

Baltic Trading Acquires Two Capesize Vessels

Takes Delivery of the Baltic Lion; Vessel to Commence Spot Market-Related Time Charter. Baltic Trading Limited announced today that it has taken delivery of the Baltic Lion, a 2012-built Capesize vessel. The Baltic Lion is the second of two Capesize vessels to be delivered to the Company under Baltic Trading's agreements previously announced on November 5, 2013. John C. Wobensmith, President and Chief Financial Officer, commented, "We are pleased to take delivery of the Baltic Lion following the successful delivery of its sister ship, the Baltic Tiger, earlier this quarter. With these vessels, combined with the delivery of two Handysize vessels in September, we have completed as planned two of the three acquisitions announced by Baltic Trading during 2013.

13 Dec 2013

London's Baltic Exchange Redefines Capesize Terms

Capesize Bulk Carrier: Wiki CCL photo

The move follows a formal consultation process with the dry bulk market which began on 11 October 2013. Trial reporting on the new routes and vessel description will begin in late January/early February with a lifting of the trial anticipated by the end of March 2014. The existing routes and new routes will be published side-by-side until there is no further open interest in either Forward Freight Agreements (FFAs) or options to be settled. This vessel will routinely be referred to as the 'Baltic Capesize 2014'. 15 knots ballast/14 knots laden on 62mt fuel oil (380 cst), no diesel at sea.

03 Dec 2013

Baltic Trading Take Delivery of Capesize, & Charter Out

Bulk carrier image CCL

Baltic Trading Limited has accepted delivery of the first of two new bulk carriers, 'Baltic Tiger', a 179,185 dwt Capesize vessel, and found a time charter for the vessel without delay. The Baltic Tiger delivered to its charterer, Swissmarine Services S.A., has commenced a spot market-related time charter for 10.5 to 13.5 months. The rate for the spot market-related time charter, which is subject to the completion of definitive documentation, is based on 102.75% of the average of the daily rates of the Baltic Capesize Index (BCI) published by the Baltic Exchange, as reflected in daily reports.

14 Jun 2013

Capesize Bunker Consumption: Baltic Exchange Issues Brokers Guidance

Capesize Bulk Carrier: Photo courtesy of K-Line

The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS). The London market exchange has provided its shipbroker panel members with further guidance on the way in which they assess the capesize market. The move has followed extensive market consultation and reflects the need for greater precision on the slow steaming characteristics of the Baltic capesize vessel type. “This guidance does not imply any change to the index definition.

01 May 2012

Baltic Trading Ltd. Announces Q1 2012 Financial Results

Baltic Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Baltic Trading Limited's current fleet consists of two Capesize, four Supramax and three Handysize vessels with an aggregate carrying capacity of approximately 672,000 dwt. The following financial review discusses the results for the three months ended March 31, 2012 and March 31, 2011. •    Reached agreement to extend the Baltic Bear with Swissmarine Services S.A. •    Cash position of $5.2 million as of March 31, 2012. The Company recorded a net loss for the first quarter of 2012 of $4.5 million, or $0.20 basic and diluted loss per share.

18 May 2010

Baltic Trading Takes Delivery of Drybulk Vessels

Baltic Trading Limited (NYSE: BALT), a drybulk company focused on the spot market, has taken delivery of the Baltic Bear, a Capesize newbuilding, and the Baltic Jaguar, a 2009-built Supramax vessel. The Baltic Bear and the Baltic Jaguar are the third and fourth vessels, respectively, to be delivered to the company under agreements signed in February 2010 to acquire four 2009-built Supramax drybulk vessels from an unaffiliated third party as well as two Capesize newbuildings from another unaffiliated third party. The Baltic Bear was delivered to its charterer, Cargill International S.A., on May 16, 2010 to commence a spot market-related time charter for 11 to 13.5 months.

22 May 2009

Star Bulk New Time Charters, Vessel Mngmt

Star Bulk Carriers Corp. (NasdaqGM: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes announced that the company entered into a new one-year time charter agreement for the Star Theta, a 52,425 dwt 2003-built Supramax vessel, at a gross daily rate of $11,300. On May 18, 2009 the vessel was delivered to its new charterer, Cargill. The company also entered into a new time charter agreement with the existing charterer for the Star Kappa, a 52,055 dwt 2001-built Supramax vessel, for a minimum of 63 months and a maximum of 65 months at a gross daily charterhire rate of $25,500. The new time charter agreement is effective as of April 7, 2009 and replaces the existing charter.

31 Mar 2000

Dry Bulk Trends

The dry cargo freight market was generally little changed last week, with Capesize conditions remaining basically steady but quiet, brokers said. Panamax activity was brisk from South America, but rates failed to advance as rapidly as owners had hoped for, they added. However, some firmer rates were seen, with Cosco's fixture of a 1990-built 74,000 dwt vessel delivery north Brazil trip China at $11,500 daily plus a $250,000 ballast bonus. Dreyfus was also active and paid a firmer $10,250 daily plus $265,000 ballast bonus for 1991-built Sea Ilex 66,000 dwt delivery Plate April 5/10 trip Continent. On March 28, the Baltic Dry Index (BDI) rose four points to 1…

31 Mar 2000

BDI Up 9

The Baltic Dry Index (BDI) rose nine points to 1,660, the Baltic Panamax Index gained four points to 1,557, the Baltic Handy Index firmed six points to 1,157, and the Baltic Capesize Index jumped up 17 points to 2,275.

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