Marine Link
Tuesday, January 16, 2018

Rates Set News

Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers contend. Rates for the one million barrel tankers have lifted to around 100 Worldscale points on fixtures from West Africa and the North Sea to the U.S., and on cross Mediterranean and North Sea routes, brokers said.

Cargotec Defines Sustainability Targets for 2018

Photo: Cargotec Corporation

Cargotec Corporation's Extended Executive Board has set the company sustainability targets for 2018. The targets support Cargotec's strategic must-win battles - services, digitalisation and people leadership - with which the company aims to become the global leader in intelligent cargo handling. Cargotec's focus in 2018 will be on increasing safety awareness, setting a new sustainability standard for the supply chain, increasing the usage of renewable electricity, and ensuring that human rights-related company practices and processes are at the correct level.

Clean Tanker Rates Set For Tumble

Rates for clean tankers in the Pacific Basin are set to tumble, undermined by dwindling Atlantic Basin demand displacing a vast fleet of cut-price medium-range ships, according to Oslo broker Lorentzen & Stemoco (L&S). "The Atlantic weakness is certainly going to spread to the Asian markets, unless the U.S. related trade improves soon," L&S said in a market report this week. The build of U.S. gasoline and middle distillate stocks has somewhat narrowed arbitrages to the U.S. both across the Atlantic from Europe and across the Pacific from Asia, and this has eroded clean tanker rates in all regions. But L&S said Asian tankers markets had so far survived comparatively unscathed.

Atlantic Rates Set To Move Higher

Panamax fixtures for end-March loading dates supported forecasts that Atlantic rates are set to move higher, shipbrokers said. But although the Capesize move to higher ground removed resistance against a prolonged Panamax uptrend, spreading foot- and-mouth disease is threatening to dampen dry bulk spring bullishness, they added. They said that reports that the disease in Britain and France may affect European grain exports was disturbing. However on Thursday Tunisia and Morocco, two major importers, contradicted earlier statements and said they were not banning grain imports from Europe due to concern over foot-and-mouth infection. Panamax fixtures suggest a confident market, shipbrokers said.

Houlder Sells Holdings In Tanker Broker Panel

Shipbroker Howard Houlder (Chartering) Ltd. has sold its shareholdings in the London Tanker Broker Panel back to the other five members of the rate-setting group, panel managing director Robert Porter said. "Howard Houlder is no longer a panel member," Porter said. Porter said he did not know why Houlder had decided to leave the panel - an independent body providing tanker rate/route assessments, for which fees are charged. Houlder had been in negotiations for some time with Capital Shipbrokers Ltd. to sell its shares for approximately $1.1 million, according to other brokers and press reports. A spokesman at Capital said the company could give no comment on the breakdown of negotiations. No one was immediately available at Houlder for comment.

Seaway Stakeholders File Suit Against US Coast Guard

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

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…

Dry Bulk Rates Set For A Fall

A fall in dry bulk freight rates is looming nearer as the impact of strong Latin American grain business fades, brokers said this week. "As the boost from the Latin American grain season recedes, the sector's overwhelming fleet supply problems will come to the fore once again," Oslo broker Lorentzen & Stemoco (L&S said in a market report. Panamax ships have been the main beneficiaries of the strength of grain trade. In its most recent monthly report London broker SSY noted that Panamax trades had experienced their strongest quarter since 1995 at around $11,650 per day. "The 5.25 million tons of wheat and coarse grains shipped from Argentina in January and February 2001 was up 49 percent on the same period in 2000 and the strongest start to any year on record," it added.

Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers said on Wednesday. Rates for the one million barrel tankers have lifted to around 100 Worldscale points on fixtures from West Africa and the North Sea to the U.S., and on cross Mediterranean and North Sea routes, brokers said. "Suezmax rates are going to sky rocket if Iraqi exports come back next week," one broker said. U.S. and British envoys to the U.N. said that the Security Council would vote on a straight-forward six month renewal of the humanitarian Iraq "oil-for-food" program last Friday. Iraq has previously said it would accept a renewal of the scheme on previous terms after rejecting two week and one week extensions.

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. In 2002, NCL became the first cruise line to provide remote wireless Internet (also known as Wi-Fi) to its guests. Both services are now standard throughout NCL's entire fleet. "Cutting-edge onboard technology is important to our guests," said Colin Veitch, NCL's president and CEO.

BC Ferries Becomes Self Financing Company

As a Crown corporation, BC Ferries has been subjected to years of political interference in everything from rate setting to vessel construction and spending priorities. seriously inhibited the corporation’s ability to operate in a businesslike manner. however, the ferry corporation’s current structure inhibits access to the outside capital needed to make these investments. The new Coastal Ferry Act is designed to address these problems. Authority. A new, nine-member board with professional and business expertise will be established with representation from B.C.’s coastal regions in order to support the mandate of the new company. will be transformed into an independent, regulated company under the BC Company Act and renamed BC Ferry Services.

Robot Lasers Prolong Engine Pistons’ Lifespan

QuantiServ laser cladding (Photo: Wärtsilä)

New robotized laser cladding technology aims to revolutionize the reconditioning of large bore pistons in two-stroke engines. A new reconditioning process from Wärtsilä Services’ maintenance and repair services business Line QuantiServ minimises welding, causes less thermal shock to the base material and replaces the old chromium layer’s galvanic application. “In addition to its environmental efficiency, the new coating extends the piston head’s lifespan and time between overhauls (TBO), compared to conventional chromium layers.

Year-round Response Tug for Neah Bay

A state-funded emergency response tug will be stationed at Neah Bay, ready to prevent oil spills 365 days a year under a contract extension agreement signed today between the Department of Ecology (Ecology) and Crowley Maritime Corporation (Crowley).The extension agreement marks the first time that a response tug will be stationed at Neah Bay for a full year of service. During the 2008 legislative session, Gov. Chris Gregoire and lawmakers provided $3.7m for emergency response tug service. Under the contract, Crowley will station a high-horsepower, ocean-going tug at Neah Bay from July 1, 2008, through June 30, 2009. “Every year, thousands of vessels carrying billions of gallons of oil make transits through the Strait of Juan de Fuca,” said Gov. Gregoire.

US Rail Jams Force Rush to Roads and Rivers

Photo: Susannah Skiver

U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low by the widespread bottlenecks on rail networks. The shift in how coal is being delivered to some power plants from mining regions such as Illinois Basin and comes amid persistent railroad delays that began during last year's severe North American winter. The delays have been perpetuated also by a surge in rail deliveries of crude oil and grain…

Bulkers to Benefit as China Iron Ore Appetite Grows

Photo: © martinfredy/Adobe Stock

It has been quite awhile since the global bulk carrier market has had much to cheer about, but U.S. dry bulk shippers are set to post strong revenue growth in the next two years thanks to soaring Chinese demand for high-grade iron ore from Brazil and Australia. To combat severe winter smog, China has slashed iron ore output, pushing steel mills in the world's second biggest economy to import more high-grade ore. China also wants to make pollution control a priority for the next three years.

Capesize Rates Pull Baltic Index to 4-month Low

© NS Photography / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than four-month low on Tuesday, as capesize rates dropped to their lowest since August last year. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, lost 43 points, or 3.4 percent, to 1,221 points, the lowest since Sept. The capesize index fell 221 points, or 9.91 percent, to 2,010 points, its lowest level since Aug. 10 last year.

APL Receives Silver Sustainability Rating from EcoVadis

APL Gwangyang. Photo: APL

APL has been awarded the silver rating for its 2017 Corporate Social Responsibility performance by EcoVadis, a trusted name that provides supplier sustainability ratings for global supply chains. As the rating places APL among the top 30 percent of companies evaluated, it acknowledges APL’s continual sustainability achievements since earning a bronze rating for the same assessment in 2015. Nicolas Sartini, APL Chief Executive Officer said, “Our improved rating demonstrates APL’s commitment to steer forward in our sustainability journey to ensure sound environmental…

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. The lower rate…

Cat to Power Ferries for 2016 Olympics in Rio de Janeiro

Photo: Caterpillar Marine

Caterpillar Marine and Cat Dealer Pon Power announced 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 seven aluminum-hull fast ferries, with 14x Cat 3512 generator sets and 14x Cat 9 generator sets providing prime and auxiliary power. Each 3512 generator set will provide 1,550 eKW at 60 Hz of rated power.

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. Each 3512 generator set will provide 1550 eKW @ 60 Hz of rated power.

Krishnapatnam Port Breaks Its Own Record

Photo courtesy Krishnapatnam Port Company Ltd

Krishnapatnam Port is already setting various operational benchmarks even though it is still in its developing phase. The port has achieved two milestones on 20th August ’09 by achieving an All-India record load rate in 24 hrs and turning around a cape size vessel in a record time of 48 hrs. Vessel MV. Cape Santa Alegria, owned by Salgaocars of Goa, berthed at the port on August 18 afternoon and once the loading commenced, in the first 24 hrs the port achieved a loading record of 50…

Caterpillar Engines Developed for New Liftboat

Cat C280-16 generator sets with an increased power rating have been selected by Jurong Shipyard, to power West Rigel drill rig. The West Rigel is a semisubmersible drilling rig newbuild under construction for North Atlantic Drilling Limited, a subsidiary of Seadrill Limited. Eight C280-16 generator sets, each with rated power of 5,500 ekw (5,730 bkw @ 900 rpm), will be used as the main power for the semisubmersible rig, with two of the generator sets serving as emergency power as well. The C280 has a stellar reputation in the oil and gas industry as a trusted provider of power for decades. The new uprate provides a 12% increase in overall power.

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.

Cummins Debuts Mobile Tier 4 Generators

Cummins’ certified Tier 4 Final QSB7 and QSL9 engine platforms form the basis for mobile generator sets that meet EPA regulations without diesel particulate filters (DPF).

U.S. EPA Tier 4 Final certified mobile generator sets with 150 kW to 275 kW power outputs are now available from Cummins Power Generation for the rental market. Cummins said it conducted extensive field research to develop a reliable, easy to operate and versatile product to meet the latest emissions regulations. The mobile generators have been thoroughly validated and are now available to rental operators and customers. The new units are based on the Cummins QSB7 and QSL9 engine platforms that have undergone extensive refinements to meet the stringent EPA Tier 4 Final regulations.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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