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Friday, February 23, 2018

Dry Bulk Carrier Segments News

Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness

Photo:  Torvald Klaveness

The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”, Torvald Klaveness said. Earnings before tax (EBT) for 2017 ended at a loss of USD -2 million. Torvald Klaveness maintained a high solidity and good liquidity in 2017. Stronger markets resulted in improved results for the container segment and the dry bulk segment compared to 2016.

Belships Updates Fleet Status

M/S Belnippon. Photo: Belships ASA

M/S Belnippon was delivered from Imabari Shipbuilding in January and has been fixed on time charter to Cargill for 10-13 months at USD 11,500/day, says a statement from Oslo-based bulk ship operator Belships. Belships concentrates on the dry bulk market, with 6 modern Supramax/Ultramax in service. M/S Belstar, M/S Belnor and M/S Belisland have continued the long-term contracts to Canpotex of Canada. Canpotex is one of the world's largest exporters of potash, a fertilizer product imported in large volumes by countries such as China, India and Brazil.

Hedge Funds Hook Shipping Stocks Grappling for Recovery

Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial forays into shipping stocks in the third quarter of 2017, but significantly stepped up their bets in the final three months of the year, U.S. Securities and Exchange Commission filings compiled by Symmetric show. "Shipping has been in a terrible trough for a number of years," Chris Walvoord, global head of hedge fund research at investment consultant Aon Hewitt, said. "Hedge funds are starting to see opportunity ...

Ocean Yield Acquires Two Handysize Dry Bulkers

Photo: Ocean Yield Official Linkedin Page

Norwegian shipowner  Ocean Yield announced that 100% owned subsidiaries of the Company has agreed to acquire two 2018 built handysize dry bulk vessels with 12-year bareboat charters to companies owned and guaranteed by Louis Dreyfus Armateurs Group (LDA). The net cash purchase price is USD 18 million per vessel after a seller's credit. Both vessels are expected to be delivered to the Company during March 2018. LDA has options to acquire the vessels during the charter period, with…

Newport Shipping Upbeat on Dry Bulk Segment

Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009. According to the latest edition of Newport Shipping’s Dry Bulk Market Outlook, seaborne trade in bulk commodities is expected to pick up after almost two years of slow to moderate economic growth to almost 9% this year, after which it will ease off slightly to an annual growth rate of about 7%.

JACCAR Holdings Enters Into Gas and Dry Bulk Ownership

Greenship Holdings, a fully-owned Singapore subsidiary of JACCAR Holdings, has established two separate entities to expand into ship-owning and operating activities in the gas and dry bulk sectors. Greenship Holdings is aiming to own and operate advanced, fuel-efficient and environmentally-friendly vessels. Its original commitment, totaling 30 vessels in the gas and dry bulk sectors, with a total investment of around $900 million, has a secured financing structure and will go into operation in full within the next two years. Greenship Gas, a company fully owned by Greenship Holdings, has been established with the two-fold strategy of combining effective asset management with unparalleled in-house operations.

Dry Bulk Carrier Segment Revival Seen by Analyst

Frontispiece of report: Image courtesy of Newport Shipping

Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009, according to Newport Shipping’s 'Dry Bulk Market Outlook 2014 Q2'. Seaborne trade in bulk commodities is expected to pick up after almost two years of slow to moderate economic growth to almost 9% this year, after which it will ease off slightly to an annual growth rate of about 7%.

Baltic Index Inches Up On Increased Capesize Activity

© Fotosenmeer /Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, crept higher on Wednesday on firmer capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, inched up 2 points, or 0.18 percent, to end at 1,097 points. "Following seasonal weakness in the dry bulk sector resulting from the Chinese New Year, we believe the outlook for the dry bulk shipping market is both clear and bright," analysts at Jefferies said in a note on Tuesday. The analysts noted "...

Baltic Index Hits Three-week High

© NS Photography / Adobe Stock

The Baltic Exchange's main sea freight index climbed 2.6 percent on Wednesday to mark a three-week high, boosted by an increase in activity across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 29 points, or 2.6 percent, to finish at 1,146 points, its highest since Jan. 31. "Sentiment in the dry bulk market is firming up after a return of activity in the Pacific," said analysts at shipbroker Clarksons Platou Securities. The capesize index gained 39 points, or 2.32 percent, to close at 1,717 points.

Noble Group deals to sell four ships fall apart

Photo: Noble Group

The commodity trader Noble Group says proposed agreements to sell four dry bulk carrier vessels fell through after the buyers failed to get approval from their boards, reports Strait Times. The disposal of the freight vessels for gross proceeds of about USD 95 million had been approved by Noble shareholders at a special general meeting on Jan 25. The crisis-wracked company estimates it would have received about USD 30mln in net proceeds if the vessels had been sold. The proposed disposal of the vessels is a part of the Noble’s debt reduction plans.

BIMCO: China Breaks New Ground… Again

© Igor Groshev / Adobe Stock

Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the shipping industry to the greatest extent as both volumes and distances have increased. China continues to ramp up its imports of iron ore with seaborne imports growing 4.7% in 2017 compared to 2016.

Panama Canal Expansion: Future Toll Structure Discussed

Photo courtesy of ACP

The Panama Canal Authority (ACP) Administrator Jorge L. Quijano has met with the Union of Greek Shipowners, the International Association of Independent Tanker Owners (INTERTANKO) and the International Association of Dry Cargo Shipowners (INTERCARGO) to discuss the waterway's toll structure when the expanded Canal opens to commercial transits. The Expansion Program will build a new lane of traffic along the waterway through the construction of a new set of locks, which will allow the transit of vessels with more tonnage capacity. Currently, the Expansion Program is 64.6% complete.

COSCO Group (Singapore) Report Decline in Bulk Shipping, Shipyard Revenue in Q1

Against the backdrop of a difficult business environment, the Group achieved turnover of $978.7 million with a net profit attributable to equity holders of $27.8 million. Group turnover inched down 3.2% to $978.7 million in Q1 2012 from $1.0 billion in Q1 2011 due to a decline in dry bulk shipping and shipyard revenue. Turnover from shipyard operations decreased marginally by 2.5% to $965.9 million in Q1 2012 from $990.2 million in Q1 2011 mainly due to lower revenue contributions from ship repair and ship building segments which more than offset the growth in revenue from marine engineering segments. The Group successfully delivered 12 dry bulk carriers in the 1st quarter of 2012.

Wärtsilä to Optimize Performance of Four TMS Cardiff Gas Vessels

Photo: Wärtsilä

Wärtsilä is expanding its cooperation with the Athens based ship management company TMS Cardiff Gas Ltd. Under the recently signed maintenance agreement, Wärtsilä ensures the maintenance predictability of the operation of four TFDE LNG Carriers in TMS Cardiff Gas’ fleet. Eniram’s data collection platform and advanced data analytics helps TMS Cardiff Gas to achieve optimal fleet operations, resulting in reduced fuel costs and emissions. The maintenance agreement, signed in December 2017, advances the performance monitoring of TMS Cardiff Gas’ vessels.

Multipurpose Shipping Freight Rates Expected to Improve

Photo: Drewry Maritime Research

The multipurpose shipping market will see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry. Dry cargo demand is weak but strengthening with multipurpose shipping market share expected to grow at just under 2% per year to 2020. Demolition levels are up in both the multipurpose and competing sectors…

Multipurpose Shipping Freight Rates to Improve by End 2017

Graph:  Drewry Shipping Consultants Limited

The multipurpose shipping market will see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry. Dry cargo demand is weak but strengthening with multipurpose shipping market share expected to grow at just under 2% per year to 2020. Demolition levels are up in both the multipurpose and competing sectors…

ACP to Modify Pricing Structure

Panama Canal proposes tolls adjustments and creates new market segments to reflect real value of the route and better serve its customers.New market segments by vessel type are created and consultation period with interested parties begins. The Panama Canal Authority (ACP) Board of Directors approved a proposal to modify the Panama Canal pricing structure to align Canal toll charges with the value the route provides. The proposal increases the number of segments from eight to eleven by Panama Canal vessel type.

World’s First LNG-fueled Bulk Carrier Delivered

Photo: Lloyd's Register

Hyundai Mipo Dockyard (HMD) and ILSHIN LOGISTICS delivered the world’s first LNG-fueled bulk carrier under the dual-class of Lloyd’s Register (LR) and Korean Register. The 50,000 dwt bulk carrier has also been verified to be in compliance with the International Gas Fuel (IGF) Code. The vessel is the result of a collaboration project, announced in July 2016, to develop the first in a new generation of environmentally-friendly LNG-fueled bulk carriers. The ship has a Type ‘C’ LNG fuel tank with a capacity of 500m³, made of austenitic high manganese steel and located on the aft mooring deck.

Mundra Port, Port of Montreal Sign Cooperative Agreement

Tony Boemi, Vice-president, Growth and Development at the Port of Montreal, Christine St-Pierre, Québec Minister of International Relations and La Francophonie, Jordan Reeves, Consul General of Canada, Mumbai, Sandeep Mehta, President of Adani Ports and Special Economic Zone and Dominic Marcotte, Consul and Director of the Québec Government Office in Mumbai. Photo: Montreal Port Authority (MPA)

On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).

ACP: Public Hearing on Canal Toll Adjustments

The Panama Canal Authority (ACP) held a public hearing in the Ascanio Arosemena Center in Balboa, Panama, on its proposal to modify the Panama Canal pricing structure to align Canal toll charges with the value the route provides. Seven representatives from shipping and government participated in this opportunity to express their views. "Today, Panama Canal customers and members of the maritime industry were welcomed to participate in a transparent and open process," said ACP Administrator/CEO Alberto Alemán Zubieta. Throughout the consultation period (April 20, 2012 – May 21, 2012), the proposal was made available to all interested parties. The ACP received a total of 18 comments, opinions and written requests from interested parties to participate in the public hearing.

Offshore Sector Shows Improvement: Sembcorp Marine

Semi-submersible platform. Photo: Sembcorp

Global exploration and production (E&P) capex spending continues to show signs of improvement, underpinned by higher oil prices, says Sembcorp Marine Ltd (SembMarine). Offshore rigs utilization and day rates have stabilized, but rig orders recovery may take some time as the oversupply in most drilling segments has yet to re-balance. The production segment remains encouraging and we are responding to increasing enquiries and tenders for innovative engineering solutions. We continue…

COSCO Turnover Down on Most Fronts in Q2 2013

The Group achieved net profit attributable to equity holders of $12.0 million on turnover of $890.3 million in Q2 2013, 8.7% down on the same period last year. Group turnover declined by 8.7% to $890.3 million in Q2 2013 from $975.3 million in Q2 2012 due to the decline in dry bulk shipping and shipyard revenue. Turnover from shipyard operations decreased by 8.7% to $877.2 million in Q2 2013 from $960.8 million in Q2 2012 mainly due to lower revenue contribution from ship building and ship repair segments which more than offset the growth in revenue from marine engineering segment. The Group delivered 7 bulk carriers in Q2 2013. Of these, COSCO Zhoushan shipyard delivered 4 bulk carriers, COSCO Dalian shipyard delivered 2 bulk carriers and COSCO Guangdong shipyard delivered 1 bulk carrier.

Grand Bahama Shipyard Stayed Busy in 2016

V Ships USA LLC Boston - CSL Acadian (Photo: Grand Bahama Shipyard)

The Caribbean shipyard Grand Bahama Shipyard Limited (GBSL) worked on 49 commercial vessels and 20 cruise ships throughout 2016, with scope of works ranging from major steel fabrication and repairs, to engine and technical systems overhauls, hull treatment and tank cleanings. And looking to 2017 and beyond, the yard reports it has a healthy order book, with docking periods secured as far ahead as three years. VShips USA brought two bulk carriers, CSL Acadian and CSL Argosy, to GBSL to do tank cleaning on both vessels. CSL Acadian also received extensive pipe work.

Maritime Reporter Magazine Cover Feb 2018 - Cruise Ship Annual

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