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Thursday, January 17, 2019

Panamax News

Arrival of the four hybrid RTGs at MICT’s Berth 5. Photo: International Container Terminal Services, Inc.

MICT Gets Eco-Friendly RTGs

International Container Terminal Services, Inc.'s (ICTSI) flagship Manila International Container Terminal (MICT) has received four of 16 new hybrid rubber-tired gantries (RTG) as part of the Company’s long-term investment in capacity enhancement and environmental efficiency."A first in Philippines and Manufactured by Mitsui Engineering & Shipbuilding Co. Ltd. (MES) of Japan, the Mitsui Li-ion Hybrid RTG is equipped with a 200kVA Li-ion battery and a smaller diesel engine that dramatically improves the carbon footprint of the terminal…

A local barge underway near the port of Everett (CREDIT: port of Everett)

Port of Everett Earns Marad Short Sea Shipping Designation

The Port of Everett has achieved another vital step in reducing congestion on the I-5 corridor while moving more freight in the region. The Port was notified this month that it received designation by the U.S. Secretary of Transportation as a Federal Maritime Administration Marine Highway Project for the Puget Sound Container on Barge Service under the America’s Marine Highway Program.The Port is one of 25 marine highway projects in the nation, and the only marine project designation on the West Coast.

Pic: Kalmar

Kalmar to Automatize Melbourne VICT Terminal

The provider of cargo handling solutions and services to ports, terminals, Kalmar has signed a maintenance and support agreement with International Container Terminal Services, Inc (ICTSI) covering the automated container handling solution operating at Victoria International Container Terminal (VICT).The order was booked in Cargotec's Q4 2018 order intake with the agreement coming into effect in November 2018, said a press release. Australia's first fully automated container terminal, VICT, welcomed its first vessel in March 2017.

Image: Diana Shipping Inc

Diana Shipping Win TC for m/v Myrsini with Glencore

Diana Shipping  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 Myrsini.The global shipping company specializing in the ownership of dry bulk vessels, today announced that the gross charter rate is US$12,750 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum twelve (12) months.The charter commenced on December 22, 2018.

Pic: Diana Shipping Inc

Diana Shipping Fixes m/v Seattle with SwissMarine

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Seattle.According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months. The charter is expected to commence on December 25…

The biggest spenders of 2018 (VV.com)

Biggest Spenders of 2018

With less than a week until Christmas and most of our presents bought, we're feeling the pinch. However, that's nothing compared to the amount that some have been spending this year. VesselsValue's Senior Analyst Court Smith gives a rundown on which countries have splashed the most cash on second hand vessel purchases over 2018.USAJP Morgan Global Maritime is the US company who has spent the most on second hand vessels: 308 million USD so far in 2018. However, they have changed their purchasing strategy half way through the year.

Peter Sand, BIMCO

BIMCO: Global Shipping Scouts for Future Growth

Reflections 2019 – Market Analysis Section By Peter Sand, Chief Shipping Analyst.This article contains extracts from BIMCO’s Reflections 2019, which will be available in full on 2 January 2019 on www.bimco.org and will be sent out to all BIMCO members alongside their free member copy of BIMCO’s Holiday Calendar 2019.Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we should look towards emerging and developing countries.

File Image / AdobeStock / © Lucaz Z

Baltic Index Slips from 6-week Highs

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Tuesday retraced from its six-week high in the previous session, weighed down by declines in capesize vessel rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 11 points, or 0.8 percent, to land at 1,395 points. The index had touched its highest in six weeks in the previous session on Monday.The capesize index lost 40 points, or 1.6 percent, to 2,393 points.

File Image: AdobeStock / © Leonid Ermeychuk

Stronger Capesize Demand Propels Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, gained on Friday supported by a jump in capesize vessel rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 36 points, or 2.6 percent, to 1,401 points.The capesize index rose 203 points, or 9.3 percent, to 2,383 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal…

Photo: Panama Canal Authority (ACP)

Brazil’s Itaqui Port and Panama Canal Sign MOU

The Panama Canal has signed a memorandum of understanding with the Port of Itaqui to promote the shipment of grains and other cargoes in the commercial route from Brazil through the Panama Canal to destinations located in the Pacific Ocean.Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal. It  has the infrastructure and connectivity necessary to move these exports to markets in Asia."With this agreement, the Panama Canal looks to promote…

File Image: CREDIT: Port of Portland, UK

Baltic Index Slips on Weaker Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, slipped on Wednesday as capesize vessel rates declined.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 11 points, or 0.8 percent, to 1,353 points.The capesize index fell 30 points, or 1.4 percent, to 2,153 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, decreased by $269 to $16,808.The panamax index dipped 9 points, or 0.6 percent, to 1,445 points.

M/v Ismene. Pic: Diana Shipping Inc.

Diana Shipping in TC Pact for m/v Ismene with Koch

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Singapore, for one of its Panamax dry bulk vessels, the m/v Ismene.The a global shipping company specializing in the ownership of dry bulk vessels said in a press note that the gross charter rate is US$12,125 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2020 up to maximum March 31, 2020.The charter is expected to commence on December 12, 2018, it said.

File Image / AdobeStock / © Lidian Neeleman

Baltic Index Snaps Winning Streak as Capesize, Panamax Rates Sag

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, marked its first decline in last six sessions on Tuesday, weighed down by weaker demand for capesize and panamax vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 21 points, or 1.5 percent, to 1,364 points.The capesize index snapped its five-day winning streak and dropped 2.7 percent, or 61 points, to 2,183 points. Average daily earnings for capesizes…

File Image / Credit AdobeStock © Lucasz Z

Stronger Capesize Demand Propels Baltic Index Still Higher

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, rose for the fifth straight session on Monday, buoyed by stronger capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 13 points, or about 1 percent, to 1,385 points.The capesize index climbed 2.1 percent, or 47 points, to 2,244 points, highest since Nov. 6. Average daily earnings for capesizes, which typically transport 170…

Image: CMA CGM

Global Ship Lease Sings TC with CMA CGM

UK-based containership lessor Global Ship Lease (GSL) has agreed five-year charters with CMA CGM for the 2015-built, 6,882 TEU containerships UASC Bubiyan and UASC Yas.The containership charter owner said in a release that the new charters, which are in addition to the four similar charters announced on November 9, 2018, will commence upon the expiry of the current charters during the second quarter of 2019, are for a period of five years and are at a rate of $25,910 per day, up from $20…

Pic: Damen

Damen Shiprepair Curaçao: Both Floating Docks Up and Running

Damen Shiprepair Curaçao (DSCu) commissioned its floating D-dock on November 22, making both of its floating docks operational."Following the mooring of D-dock to her moorings on Friday, November 16th, final tests were carried out and D-dock was submerged onto the equalised seabed, ready for the first visiting vessel the Jara," said a press release from the ship repair yard.It said that the vessel is a Damen ASD Tug 3110 (L 30.82m x W 9.40m x D 4.08m) owned by Citgo Aruba.The commissioning of the D-dock is another historic milestone for DSCu and one that the yard is extremely proud of.

File Image (CREDIT AdobeStock / © Leonid Eremychuk

Baltic Index Gains on Stronger Broad Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the third straight session on Thursday, supported by strong demand across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 43 points, or 3.3 percent, to 1,339 points.The capesize index rose 8.1 percent, or 155 points, to 2,080 points. Average daily earnings for capesizes, which typically transport 170…

Sideris. Pic: Diana Shipping Inc

Diana Shipping Signs TC for m/v Sideris GS

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Berge Bulk Shipping Singapore, for one of its Capesize dry bulk vessels, the m/v Sideris GS, for a period until minimum December 15, 2019 up to maximum March 30, 2020.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$8,500 per day for the first 30 days of the charter period and US$15,350 per day for the balance period of the time charter…

A typical coal carrier underway (Credit: K Line)

Stronger Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose on Wednesday, buoyed by higher demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 5 points or 0.5 percent to 1,008 points.The capesize index gained 5.4 percent or 54 points to 1,056 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

M/v Alcmene. Photo: Diana Shipping Inc

Diana Shipping Fixes m/v Alcmene with BG Shipping

Greece-based Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with BG Shipping Co., Limited, Hong Kong, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene.The global shipping company specializing in the ownership of dry bulk vessels said in a press note that the gross charter rate is US$11,500 per day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 14 months.

Image CREDIT: AdobeStock / © Kastor

Strong Capesize Rates lift Baltic Index to One-month High

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the fourth straight session to touch a one-month high on Friday, boosted by strong demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 33 points, or 2.5 percent, to 1,372 points, a peak level since Nov. 6.The capesize index surged 5.6 percent, or 117 points, to 2,197 points. Average daily earnings for capesizes…

Photo courtesy of Panama Canal Authority

Panama Canal Signs Deal with Port of Itaqui

The Panama Canal signed a Memorandum of Understanding (MOU) with Port of Itaqui, located in the northeastern region of Brazil, to promote the shipment of grains and other cargoes in the commercial route between the north of Brazil through the Panama Canal to destinations located in the Pacific Ocean.The Port of Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal and has the infrastructure and connectivity necessary to move these exports to markets in Asia.

File Image / CREDIT AdobeStock / © Leonid Eremychuk

Falling Capesize Demand Weighs on Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, fell for the fourth straight session on Monday, pressured by waning demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 28 points, or 2.3 percent, to 1,203 points. The capesize index dipped 6.7 percent, or 117 points, to 1,638 points.Average daily earnings for capesizes, which typically transport 170,000-180…

File Image: a bulk carrier alongside and loading in the port of Portland, UK (CREDIT: port of Portland)

Baltic Index Snaps 4-day Losing Streak

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, marked its first gain in five days on Tuesday, helped by firmer rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 34 points, or 2.8 percent, to 1,237 points.The capesize index snapped four straight sessions of losses and gained 6.2 percent, or 101 points, to 1,739 points. Average daily earnings for capesizes…

File Image: A Capesize bulker loads in port. CREDIT: AdobeStock / © Lidian Neeleman

Baltic Index Gains on Higher Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, gained on Wednesday, supported by stronger rates for capesize vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 59 points, or 4.8 percent, to 1,296 points.The capesize index gained 10.7 percent, or 186 points, to 1,925 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

Pearl Harbor Remembrance Day: Jones Act Dredgers, America at its Best

The U.S.-Flag dredging industry commemorates the 77th anniversary of the Japanese air raid on the United States Naval Base at Pearl Harbor highlighting the critical need for a robust American shipbuilding capacity to ensure for the preparedness of the nation.“Today our brothers and sisters of the U.S Merchant Marine look to the past sacrifices made by 2,403 U.S. servicemen who died in the attacks on Pearl Harbor. We honor the members of the U.S. Armed Services,” said William P.