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Friday, November 16, 2018

Panamax News

Photo: Liebherr

Yilport Opts for Liebherr Mobile Harbor Cranes

At the beginning of November, two Liebherr mobile harbor cranes type LHM 600 arrived at Yilport’s recently acquired terminal in Guatemala. An option on two more LHM 600 underlines the forthcoming strategic partnership between Liebherr and Yilport. Yilport Holding is a subsidiary of Yildrim Group and was established in 2011 to consolidate port and container terminals on an international level. Yilport globally operates 21 marine ports and terminals and 6 dry terminals. The latest member of Yilport’s terminal portfolio is Guatemala’s largest Pacific Ocean port Puerto Quetzal.

M/V Thetis. Pic: Diana Shipping Inc

Diana Shipping Fixes M/V Thetis with Hudson

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the m/v Thetis.According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$10,650 per day, minus a 3.75% commission paid to third parties, for a period of minimum 14 months to maximum 17 months.The charter is expected to commence tomorrow.

M/V Maia. Pic: Diana Shipping

Diana Shipping Fixes M/V Maia with Glencore

The provider of shipping transportation services Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Maia.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$13,300 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2020 up to maximum March 31, 2020.

File Image: AdobeStock / CREDIT © Leonid Eremeychuk

Capesize Fall Drags Down Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, slipped for the eleventh straight session on Tuesday as the capesize index posted its biggest daily percentage fall in more than 10 months.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 61 points, or 5.4 percent, to 1,064 points.The capesize index plunged 17.5 percent, or 245 points, to 1,153 points, its biggest one day percentage decline since Jan.

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

Baltic Index [Finally] Gains on Higher Capesize Demand

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.

© Anatoly Menzhiliy / Adobe Stock

Baltic Index Eases on Weaker Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, was weighed down on Monday by weaker demand for the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 9 points, or 0.7 percent, to 1,357 points.The capesize index fell 47 points, or 2.5 percent, to 1,853 points, its lowest in almost 15 weeks.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $245 at $15,329.The panamax index was down 5 points

(Photo: Photo: Port Everglades)

FIT Opening New Cargo Facility at Port Everglades

Florida International Terminal, LLC. (FIT) is opening a new 32-acre containerized cargo terminal at Broward County’s Port Everglades with double the number of entry gates, and adding new scales, heavy equipment, technology and increased stacking capacity.Already one of the largest cargo terminal operators at Port Everglades, FIT is relocating to make way for the largest capital improvement project in the port’s history.In the past fiscal year (October 1, 2017 through September 30, 2018), FIT experienced 17 percent growth with approximately 226,000 TEUs.

North Carolina Ports Chief Operating Officer Brian Clark

North Carolina Ports Hosts Second Annual Cold Chain Summit

North Carolina Ports hosted the Cold Chain Summit 2018: Cold Gateways Expansion – Farm to Table and Beyond in historic downtown Wilmington on Wednesday.This is the second year NC Ports has organized and hosted the event focusing on current markets, shipping patterns, consumer behavior and environmental impacts of the global cold chain industry.“This year’s summit comes at a time of significant growth for NC Ports’ perishables portfolio,” said NC Ports Executive Director Paul J. Cozza.

(Photo: Eric Haun)

Baltic Index Dragged Down by Weaker Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fifth consecutive session on Friday as the capesize vessel segment marked its largest weekly decline in 16 weeks.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 16 points, or 1.2 percent, at 1,366 points, marking a weekly decline of 8.3 percent.The overall index touched its lowest since June 22.The capesize index lost 80 points, or 4 percent, to 1,900 points.The capesize index fell 21.2 percent for the week, its biggest weekl

(Photo: Peter Gramstrup / NORDEN)

Higher Vessel Rates Lift Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the fifth consecutive day on Tuesday supported by gains across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 16 points, or 1.1 percent, to 1,450 points.The capesize index was up 4 points or 0.2 percent at 1,868 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $176 at $16,484.The panamax index gained 30 points, or nearly 2 percent,

© yaniv / Adobe Stock

Firmer Capesize Rates Prop Up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, helped by strong demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 5 points, or 0.3 percent, to 1,584 points.The capesize index rose 20 points, or 0.9 percent, to 2,189 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $148 at $18,894.The panamax index gained 4 points to 1,779 points, its highest since Jan.

File Photo: Star Bulk

Star Bulk Carriers Announces $310mln Loan for Vessels, 50 Scrubbers

Star Bulk Carriers announced that it has entered into a $310 million loan agreement, which includes a $70 million tranche (Green Loan Tranche) that will exclusively finance the procurement and retrofitting of scrubbers for up to approx. 50 vessels in Star Bulk’s fleet. According to a press release from the global shipping company focusing on the transportation of dry bulk cargoes, DNB Bank, acted as the Mandated Lead Arranger, Facility Agent and Coordinator, along with ABN AMRO Bank…

© Alexey Lesik / Adobe Stock

Scrubber-fitted Dry Bulk Vessels to Command Premiums -MSI

A two-tier market will reward early adopters with higher timecharter rates and asset values as cost of low sulphur fuel increases dramatically, says research and consultancy firm Maritime Strategies International (MSI).According to MSI, scrubber-fitted dry bulk vessels could be earning a significant premium over those burning more expensive low sulphur fuel and higher asset values will reward those owners that fitted the technology early.In an article ‘Scrubbing Up: the impact…

File Image / Adobestock © Lucasz

Baltic Index Slips as Capesize, Panamax Demand Wanes

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, dipped 2 percent on Thursday, weighed down by weaker demand for capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 30 points, or 2 percent, to 1,516 points.The capesize index snapped five straight sessions of gains and fell 35 points, or 1.5 percent, to 2,353 points. Average daily earnings for capesizes…

(File photo: Star Bulk)

Capesize Rates Hit Near Six-week High

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday as rates for the capesize vessel segment hit their highest in about six weeks.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 11 points, or 0.7 percent, to 1,576 points.The capesize index gained 54 points, or 2.5 percent, to 2,230 points, its highest since Sept.

The Houston industrial refining complex (File Image: CREDIT AdobeStock / © Irina K)

Proposed Rate Hikes for Houston Ship Pilots Under Fire

No less than 15 shipping companies, many of them top 10 liner companies, have written to Port of Houston Chairman Janice Longoria to reject the latest call for substantial rate hikes on the Houston Ship Channel. Local pilots already earn salaries that approach $500,000 annually.Like any other major U.S. port, registered foreign flag vessels must use a local state pilot on the Houston Ship Channel. According to local shipping stakeholders, the rates for those mandated services have spiraled more than 50% in the past 14 years alone.The rate increase proposal…

Photo: MPC Maritime

MPC Capital Further Expands Shipping Business

MPC Maritime Investments GmbH, a wholly-owned subsidiary of MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4), has acquired three Panamax-sized container vessels on behalf of an international investor. The transaction volume amounted to $42 million. In the current year, MPC Maritime has procured a total of nine single and multi-asset deals with an investment volume of more than $110 million. The focus of the newly acquired vessels is on bigger container ships, supplemented by bulkers and one tanker.

Image: Diana Shipping Inc

Diana Shipping Signs TC Contract for m/v Artemis with Ausca

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Artemis.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$12,600 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months.The charter is expected to commence on September 18, 2018.

Richard Greiner, Moore Stephens partner, Shipping and Transport

Moore Stephens: Ship Operating Costs Decline Again

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by 1.3% in 2017. This compares with the 1.1% average fall in costs recorded for 2016. For the third successive year, all categories of expenditure in 2017 were down on those for the previous 12-month period, most notably for insurance costs and stores.The findings are set out in OpCost 2018 (www.opcostonline.com), Moore Stephens’ unique ship operating costs benchmarking tool…

© Lukasz Z / Adobe Stock

Baltic Index Dips on Weakened Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, fell on Monday, hurt by weaker demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 6 points, or 0.4 percent, to 1,530 points.The capesize index lost 39 points, or 1.9 percent, to 2,042 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $334 at $17,692.The panamax index rose 22 points, or 1.3 percent, to 1,749 points.Average daily

Photo courtesy of Transnet

Transnet Due to Commence DCT Berth Deepening Project

Transnet’s forthcoming project to create deeper berths at Durban Container Terminal (DCT): Pier 2’s North Quay will enable the Port of Durban to accommodate newer generation container vessels by 2023.Addressing stakeholders at a business breakfast in Durban on Tuesday, representatives of Transnet National Ports Authority (TNPA), Transnet Port Terminals (TPT) and Transnet Group Capital (TGC) provided a project update to stakeholders ahead of anticipated site establishment by end…

Pic: Port Corpus Christi

POTAC Signs Dock Usage Pact with Port of Corpus Christi

POTAC (Pin Oak) announced the execution of a ten year exclusive use agreement for Suezmax vessels at Public Oil Dock 14 with the Port of Corpus Christi, including extension options, exercisable by the Company, which could extend the agreement for up to an additional ten years.In addition to Suezmax vessels, Pin Oak will be able to efficiently load / unload Aframax, Panamax, and other smaller vessels and barges. This agreement follows the commencement of construction on Pin Oak's nine pipelines crossing under the Corpus Christi Ship Channel…

Pic: Safe Bulkers

Safe Bulkers Improves Bottomline

Monaco-based Safe Bulkers said that its net revenues for the three months months period ended September 30, 2018 increased by 34% to $50.1 million from $37.3 million during the same period in 2017.The international provider of marine drybulk transportation services said in a press release that its net income for the third quarter of 2018 increased by 21% to $8.1 million from $6.7 million, during the same period in 2017. Adjusted net income for the third quarter of 2018 was $8.2 million as compared to adjusted net loss of $1.8 million…

File Image: AdobeStock / © Lucasz Z

Baltic Index Losing Streak Continues as Capesize Rates Drag

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.

South Carolina Ports Authority (SCPA) president and CEO, Jim Newsome

SC Ports State of the Port Emphasizes Infrastructure to Support Growth

Jim Newsome, president and CEO, highlights cooperation and collaboration.South Carolina Ports Authority (SCPA) president and CEO, Jim Newsome, presented the annual State of the Port to an audience of approximately 600 customers, elected officials and shipping industry representatives at the Charleston Area Convention Center. Jim’s presentation focused on the Port’s successes, strategic infrastructure investments to support continued container volume growth, new initiatives to increase Port productivity and overall industry trends that will impact the Port in the future.

Gulfport as it appears today.

Gulfport’s Long Road Back From Hurricane Katrina

When Jonathan Daniels, executive director of the Mississippi State Port Authority at Gulfport spoke to the audience at the annual state of the port luncheon July 27, 2018 at the newly rebuilt Island View Casino, he had a lot to offer in terms of jobs. And he had two aces in the hole: SeaOne, an untested compressed liquefied gas company and Yilport, a terminal company operated by an ambitious Turkish port developer. Both had letters of intent dating back two years with much to do.As has been the case since before Daniels took over from Don Allee in 2013…