Fearnleys News

21 Nov 2019

Baltic Index Drops On Capesize Rates

© yaniv / Adobe Stock

The Baltic Exchange's main sea freight index ticked lower for a sixth straight session on Thursday, hurt by weaker demand for capesize vessels.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, was down 5 points, or 0.4%, at 1,255 points.* The capesize index fell 34 points, or 1.4%, to 2,401 points, it's lowest since June 18.* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

17 Nov 2019

Exceptional Growth in LNG Trade, Says Awilco

 Pic: Awilco LNG

The exceptional growth in LNG trade recorded in the first half of the 2019 continued in Q3, says Awilco LNG Group, the Norwegian based fully integrated pure play LNG transportation provider.According to Fearnleys LNG total LNG trade is up about 13 % in the first nine months of the year vs last year. In line with normal seasonal patterns gas prices inched upwards in Q3 but remained historically low due to increased production and muted demand in the Far East.Due to a relatively mild winter reducing gas demand for power generation and higher nuclear power generation in Japan and South Korea…

14 Nov 2019

Baltic Index Inches Lower on Weaker Panamax Rates

© papa1266 / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched lower on Thursday, as lower panamax rates offset a rise in capesize rates.* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down 1 point, or 0.1%, at 1,364 points.* The capesize index rose 58 points, or 2.3%, to 2,623 points.* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

03 Oct 2019

Baltic Index Hits Two-month Trough

© ManHin / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slid to a near two-month low on Thursday, as weak demand for iron ore and lower industrial activity continued to weigh on the index.* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, declined 46 points, or 2.55%, to 1,757, recording its seventh consecutive decline.* The overall index was at its lowest level since Aug. 9.* The capesize index fell 218 points…

22 Aug 2019

Baltic Index at 4-week Peak on Broad Support

AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index rose to its highest in more than four weeks on Thursday, lifted by strong demand across all vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 57 points, or 2.8%, to 2,118, its highest in a month.The capesize index jumped 158 points, or 4.3%, to 3,829, its highest since July 23. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $1,059 to $29,490. "The Brazil to China route is now showing signs of improvement.

01 Aug 2019

Baltic Index Falls as Ship Supply Weighs

© Gudellaphoto / Adobe Stock

The Baltic Exchange's main sea freight index fell for an eighth straight session on Thursday, as increased vessel supply and easing demand for shipping iron ore dragged down capesize rates, while soft South American orders hurt panamaxes.*The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 3%, or 56 points, to 1,812 points.* The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from Brazil into China over the past few months.* The capesize index fell 123 points…

18 Jul 2019

Baltic Index at 5-1/2-year High on Iron Ore Demand

AdobeStock / © Lidian Neeleman

The Baltic Exchange's main sea freight index rose on Thursday to its highest since December 2013, driven by demand for vessels shipping iron ore in the Atlantic, pushing capesize and panamax indices to multi-year highs.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.2%, or 66 points, to 2,130, its highest since mid-December, 2013. The index has surged about 68% so far this year. The index extended gains for an eighth straight session, mainly…

10 May 2019

LNG Shipping Demand Flat in Q1 209

Pic: Awilco LNG Group

Global liquefied natural gas (LNG)  shipping demand in Q1 209 was essentially flat compared to Q1 2018 and coupled with a 10 % growth in the fleet since Q1 2018 rates suffered, said Awilco LNG Group.A relatively warm winter in the Far East and high storage levels in China and South Korea resulted in muted gas buying interest in the quarter and the downward gas price pressure seen in Q4 2018 continued throughout Q1 2019, said the Norwegian owner of LNG carriers.Due to weak demand and ample cargo availability Asian LNG futures prices for Q2 2019 delivery continued falling until early April…

09 May 2019

Hapag Lloyd: Calm Passage Despite Trade War

File Image / CREDIT: Hapag Lloyd

Hapag-Lloyd is optimistic about the year ahead, despite global trade tensions, the German container shipping company's chief executive said on Thursday after a first quarter earnings rise."Despite all the uncertainty, we see a somewhat stable development," Rolf Habben Jansen told Reuters, adding that trade wars have so far had a limited effect on Hapag Lloyd's business.U.S. President Donald Trump said on Wednesday that China had broken the terms of a trade deal, adding he would…

02 Apr 2019

ShipInox: AiP on Small LNG Vessel Design

Rendering of the new small-scale LNG carrier/bunker vessel design by ShipInox. (Source: ShipInox)

DNV GL presented ShipInox with an Approval in Principle (AiP) for its new small-scale LNG carrier/bunker vessel design, reportedly the first ever class-approved design based on an offshore supply vessel (OSV). With a length of 92 meters the ship will have a carrying capacity of 6,000 cubic meters.“The enthusiastic support we have received throughout the challenging development of this design makes us feel very humble,” says Rune Østbøe, CEO of ShipInox. “Not only DNV GL and the Norwegian Maritime Authority (NMA)…

27 Feb 2019

Belships ASA Names Skarsgård CEO

Following Ulrich Müller's resignation as CEO the board of directors of Belships ASA appointed Lars Christian Skarsgård (38) as new CEO in Belships ASA. Skarsgård is currently a director at Fearnleys AS and will assume his position as CEO on March 15, 2019.In connection with his appointment as CEO, Skarsgård has been granted options to subscribe for up to five million shares in the company with an exercise price of NOK 6 per share. The options can be exercised in the period between 36 months and 60 months from the date of commencement of his position as CEO.

28 Nov 2018

LNG Shipping Market in Recovery Stage: Flex LNG

Image: Flex LNG

Norwegian-born billionaire John Fredriksen-owned LNG shipper Flex LNG believes that the LNG market is in the early stages of a multi-year recovery.According to a report by Flex LNG, the market for seaborne transportation of LNG has improved significantly during the third quarter with the primary driver being the nearly 50 per cent year on year growth in imports to China.Additionally there is high demand growth in other more mature markets such as South Korea and Taiwan.Flex LNG pointed out that Bloomberg New Energy Finance estimate demand growth of approximately 8.5% in 2018…

15 Nov 2018

Baltic Index [Finally] Gains on Higher Capesize Demand

File Image: A bulk carrier underway (CREDIT: K Line)

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, snapped its 12-day losing streak on Thursday, powered by a rise in demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points or 1.1 percent - after falling 12 sessions in a row - to 1,020 points.The capesize index marked its first gain in 12 days, rising 7.1 percent, or 67 points, to 1,007 points.

15 Nov 2018

Baltic Index Marks First Gain in 13 days on Higher Capesize Demand

© Aleksey Stemmer / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, snapped its 12-day losing streak on Thursday, powered by a rise in demand for capesize vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points or 1.1 percent - after falling 12 sessions in a row - to 1,020 points.* The capesize index marked its first gain in 12 days, rising 7.1 percent, or 67 points, to 1,007…

08 Nov 2018

Baltic Index Losing Streak Continues as Capesize Rates Drag

File Image: AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, fell for the eighth consecutive session on Thursday, pressured by weakness in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 73 points, or 5.6 percent, to 1,231 points, its lowest since June 4.The capesize index declined for the seventh straight session, tumbling 221 points, or 11.2 percent, to 1,747 points - also its lowest since June 4.

19 Jul 2018

Baltic Index Down on Lower Capesize Rates

© Infinitum Produx / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday for a second straight session, on lower rates for capesize vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 31 points, or 1.8 percent, to 1,657 points.* The capesize index was down 100 points, or 3.1 percent, at 3,130 points.

12 Jul 2018

Strong Capesize Earnings Push Baltic Index Higher

© Lukasz Z / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday, driven by strong capesize rates.* The overall index - which factors in rates for capesize, panamax and supramax shipping vessels - rose 46 points, or 2.9 percent, to 1,632 points.* The capesize index was up 248 points, or 8.9 percent, at 3,041 points.* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose by $1,026 to $23,514.* "Cape market continues to be extremely volatile ....

05 Jul 2018

Baltic Index Hits Near 7-month High on Rising Capesize Demand

© zigzagmtart / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for the sixth straight session on Thursday due to higher demand for capesize vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 45 points, or 2.872 percent, to 1,612 points, the highest since Dec. 15.* The capesize index gained 270 points, or 9.843 percent, to 3,013 points, a peak since Dec.

21 Jun 2018

SEA\LNG Welcomes First Shipborkers in the Coalition

Photo: SEA\LNG

SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, today announced that it has welcomed Exeno Yamamizu Corporation (Yamamizu) & Fearnleys AS as the first shipbroking companies to join its membership coalition. The coalition whose membership currently stands at 33 organisations, is committed to uniting knowledge and expertise from across the LNG value chain, including shipping companies, ports…

21 Jun 2018

Baltic Index Slips to Two-week Low

© jcfmorata / Adobe Stock

The Baltic Exchange's main sea freight index on Thursday fell to its lowest level in two weeks, pulled down by falling rates for capesize and panamax vessels.The overall index, which tracks rates for ships carrying dry bulk commodities, slid 26 points, or 1.9 percent, to 1,347 points.The capesize index lost 52 points, or 2.5 percent, to end at 2,038 points."Extremely few cargoes out of west Australia, hence the general activity level for Pacific market this week been very low," ship broker Fearnleys said in a weekly report on Wednesday referring to the capesize segment.Average daily earnings f

12 Apr 2018

Baltic Index Rises on Firmer Large Vessel Rates

File Image (CREDIT: AdobeStock / © Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, gained on Thursday on higher rates for larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 14 points, or 1.4 percent, at 993 points. The capesize index gained 42 points, or 4.47 percent, to 982 points. It was up for a fifth straight session. "After a relatively long period of time with falling (capesize) rates, things have finally improved ...

15 Mar 2018

Baltic Index Falls on Muted Capesize Activity

© Igor Groshev / Adobe Stock

The Baltic Exchange's main sea freight index fell for the fourth straight session on Thursday, as subdued activity in the Pacific and Atlantic markets dragged the capesize index down to 7-1/2 month lows. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels that ferry dry bulk commodities, fell to its lowest in three weeks. Baltic index was down 19 points, or 1.63 percent, at 1,150 points. The capesize index fell for the eighth-straight session, down 74 points, or 5.64 percent, to 1,238 points. That's the lowest level for the index since July 31.

08 Mar 2018

Baltic Index Gains On Higher Panamax, Supramax Demand

© soleg / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday as stronger demand for panamax and supramax vessels offset a fall in capsize rates. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 6 points, or 0.5 percent, at 1,197 points. "In the dry bulk market, capesize rates are continuing to slide as the Atlantic remains relatively quiet," analysts at ship broker Clarksons Platou Securities said.

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