Fearnleys News

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.

22 Feb 2018

Baltic Index Hits Month-high

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index gained nearly 2 percent on Thursday to hit an over three-week high, buoyed by an improvement in activity across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 21 points, or 1.83 percent, at 1,167 points, its highest since Jan. 30. The capesize index gained eight points, or 0.47 percent, at 1,725 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $111 at $13,512.

21 Sep 2017

Baltic Index Extends Gaining Streak

© Viktoriya Kundeus / Adobe Stock

Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a sixth consecutive session, helped by stronger rates for capesize and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 21 points, or 1.45 percent, to 1,470 points. The capesize index was up 87 points, or 3.04 percent, at 2,948 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $631 to $21,325 - their highest since Nov. 25, 2014.

14 Sep 2017

Baltic Index Near Fresh 3-year High

© Amarinj / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a fresh near three-year high on Thursday, supported by firmer rates across vessel segments. The overall index — which factors in rates for capesize, panamax, supramax and handysize shipping vessels — rose 24 points, or 1.8 percent, to 1,361 points, a peak since November 2014. The capesize index gained 14 points, or 0.53 percent, to 2,642 points. The main capesize activity this week has been from the west Australian market…

25 May 2017

Baltic Index Falls to Lowest Since Early March

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Thursday fell to its lowest since early March as demand slowed across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1.71 percent, at 918 points. The capesize index lost 59 points, or 3.57 percent, at 1,595 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargo such as iron ore and coal, were down $427 to $11,750.

02 May 2017

Sovcomflot Launches LNG-Powered Ships

Photo: PAO Sovcomflot

Russia’s biggest tanker operator will launch four new vessels in 2018 that will run on liquefied natural gas (LNG), Bloomberg reported. Sovcomflot’s Aframax ships, capable of carrying 600,000 barrels of oil through the Baltic Sea to the port of Rotterdam, will be the first tankers run on LNG. Royal Dutch Shell Plc and other energy companies that have invested more than $700 billion in LNG projects over the past decade are going to be benefitted by this project. While ships won’t transform the market,  Energy Aspects Ltd.

16 Mar 2017

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, its best since the end of November.

04 May 2016

Maersk Mulls Acquisitions after Surprising Profit

File Image: a Maersk containership alongside (Maersk)

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter, putting the cash rich company in a strong position as the struggling industry consolidates. The group's shares were up by 5.6 percent at 1127 GMT on Wednesday after Maersk Line confounded expectations of a loss at the container shipping business as the sector grapples with a downturn brought on by overcapacity.

10 Mar 2016

Baltic Index Up on Improved Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, supported by increased demand for panamaxes and smaller vessels. The overall index that gauges the cost of shipping cargoes including iron ore, cement, grain, coal and fertiliser, was up eight points, or 2.13 percent, to 384 points. The index has gained over 30 percent, since hitting an all-time low of 290 points on Feb. 10. The panamax index rose 19 points, or, 4.25 percent to 466 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, climbed $146 to $3,739. Among smaller vessels, the supramax index gained 13 points to 412 points, and the handysize index was up three points at 246 points.

07 Jan 2016

Dry Aulk Awakens from Slumber

Pic: China COSCO Bulk Shipping

After a quiet holiday period, the market has slowly awakened from its slumber, says the weekly report by Fearnleys A.S. Rates are not running away but the market looks like it is finding a bottom. Averages for a Surpa are now around mid $4,000s and only marginally down from pre Christmas levels. 2016 has started with a couple of period fixtures reported at low $6,000s for Ultramaxes. Thus by default Supras will only be worth something in the $5,000s for a 12 month deal. Activity in the Atlantic seems to increase a bit after X-mas and new year…

07 Jan 2016

Slow Start for Tanker Rates in New Year

Berlian Laju Tanker. Pic by mapelveiculos.com.br

A super year for the VLCCs behind us which ended at earnings Meg/East close to $100k/day, says Fearnleys Week. The new year has started somewhat slower and rates ex Meg are off the peaks, but earnings remain very healthy. Continued interest for period is keeping the momentum going and rates ex Meg seem to withstand charterers fierce attempts to shave further off the rates. Close to two thirds of the January program covered so far in the Meg and further direction dependent on what is left before the BOT Feb stems are available only in a week or so.

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