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Saturday, August 17, 2019

Baltic News

Photo: JFD

JFC Acquires Ortega Submersibles

JFD, a part of James Fisher and Sons plc, acquired all the assets, IP and designs rights of Ortega Submersibles BV, a Netherlands-based submersible boat designer and manufacturer. The acquisition will enable JFD to expand further its offering of advanced Swimmer Delivery Vehicles (SDVs) and to develop new vehicles and capabilities in order to meet increased market demand for specialized small and medium-sized craft.JFD, through its subsidiary JFD Ortega BV, will retain Ortega´s…

Image: Iberdrola

Iberdrola Sells Stake in East Anglia One to GIG

Spanish public multinational electric utility company Iberdrola has entered into an agreement with Green Investment Group (GIG), part of Macquarie Group, to sell a 40% share in the East Anglia One offshore wind farm.The group will continue to be the majority shareholder, with 60% of this offshore wind farm, which will be one of the largest in the world when it enters into operation.According to transaction terms and conditions the entire value of EAO amounts to £4.1 billion and when the wind farm is operational in 2020…

AdobeStock / © Igor Strukov

Baltic Index at 2-week High on Capesize, Panamax Strength

The Baltic Exchange's main sea freight index climbed to a near two week high on Tuesday propelled by strong demand across capesize and panamax vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 90 points, or 5.1%, to 1,864 points, a high since July 31.The capesize index added 188 points, or 5.8%, to 3,454 points, its highest in more than a week. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal…

File Image: AdobeStock / © Volodymyr Kyrylyuk

Baltic Index Rises on Capesize, Panamax Rates

The Baltic Exchange's main sea freight index rose on Monday, supported by strong demand across capesize and panamax vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 26 points, or 1.5%, to 1,774 points, level last seen on August 5.The capesize index added 44 points, or 1.4%, to 3,266 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $388 to $24,410.The panamax index was up 34 points, or 1.8%, at 1,932 points, its highest since July 30.

Photo courtesy of Maritime Forum Gdynia

Global Trade Center Stage at Poland’s Maritime Conference

The biggest annual gathering of Poland’s maritime industry leaders, the Maritime Economy Forum Gdynia is unveiling its program.The day-long event, now in its 19th year, takes place on October 11 in Gdynia, featuring 30 speakers with 600 senior figures from Poland’s maritime sector and around the world expected to attend.Forum chairman Slawomir Kalicki said the conference will see a morning session examine some of the biggest issues facing the international maritime sector, worth an estimated $3-$6 trillion a year, from an EU, Baltic Sea and Polish perspective.

file Image: AdobeStock / © Lucasz Z

Softer Capesize Demand Drags Down Baltic Index

The Baltic Exchange's main sea freight index fell for an eleventh straight session on Tuesday to nearly one-month lows, pushed down by lower rates for capesize vessels due to sluggish demand in both Atlantic and Pacific regions.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 40 points, or 2.3%, to 1,734 points, lowest since July 8. The index has, still, nearly tripled since February, mainly driven by strong demand for vessels that ship iron ore from Brazil into China over the past few months.

file Image: AdobeStock / © Leonid Eremeychuk

Baltic Index Nears One-Month Nadir

The Baltic Exchange's main sea freight index fell for a tenth straight session on Monday to its lowest in nearly a month as a combination of better ship supply and easing demand hurt vessel rates.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 14 points, or 0.8%, to 1,774 points, lowest since July 9. The index has, still, nearly tripled since February, mainly driven by strong demand for vessels that ship iron ore from Brazil into China over the past few months.

Richard Baker. Photo courtesy: GeoSpock

Baltic Exchange, GeoSpock to Track Emissions

Cambridge-based data visualization company GeoSpock  is collaborating with the  Baltic Exchange to build the world’s most advanced maritime spatial database."This digital initiative will have a specific focus on shipping emissions, enabling members and the wider maritime market to have unrivaled access to data insights and visualizations," said Baltic Exchange, which is a membership organization for the maritime industry, and freight market information provider for the trading and settlement of physical and derivative contracts.Baltic Exchange CEO…

Pic: Tallink Grupp

Tallink Seeking Name for New Ferry

Estonian shipping company Tallink Grupp has  launched an international name search for its new shuttle vessel, the construction of which is due to kick off at the Rauma shipyard in Finland early next year (2020).According to the largest passenger and cargo shipping company in the Baltic Sea region, the shuttle vessel, which will be similar to the group’s newest vessel Megastar, operating on the Tallinn-Helsinki route since January 2017, will be completed by the end of 2021 and delivered to Tallink Grupp in January 2022.The new vessel will then start operating on the Tallinn-Helsinki route…

AdobeStock / © Lucasz Z

Weak Iron-Ore Demand Weighs on Baltic Index

The Baltic Exchange's main sea freight index fell for a seventh straight session on Wednesday, as demand for shipping iron-ore fell in the Atlantic.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 1.6%, or 31 points, to 1,868 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."A step back was witnessed during this past week in freight levels, as activity seems to have slowed down on the key Brazil – China route," Allied Shipbroking said in a note.

File Image: AdobeStock / © Volodymyr Kyrylyuk

Panamax, Supramax Rates Drag Baltic Index

The Baltic Exchange's main sea freight index fell for a sixth straight session to a more than two-week low on Tuesday following weak demand for panamax and supramax vessels.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 1.2%, or 23 points, to 1,899 points, its lowest since July 12.The capesize index rose 4 points, or 0.1%, to 3,664 points. However, average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal…

File Image: CREDIT AdobeStock / © Volodymyr Kyrylyuk

Baltic Index Dips as Panamax Rates Slide

The Baltic Exchange's main sea freight index fell to a more than two-week low on Monday, weighed down by weaker rates for panamax vessels.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.8%, or 15 points, to 1,922 points, its lowest since July 12. Nevertheless, the capesize index rose 13 points, or 0.4%, to 3,660 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $72 to $27,217.The panamax index fell 59 points, or nearly 3%, to its lowest in two weeks at 2,050 points.

Pic: Navis

CSP Zeebrugge Terminal Deploys Navis N4

The terminal operating systems (TOS) provider Navis announced  that CSP Zeebrugge Terminal, part of COSCO Shipping Ports, has successfully gone live with Navis N4.The unit of Cargotec Corporation and provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, the terminal connecting European market will use N4 to focus on real-time data sharing and efficiency for better service.The terminal…

file image (Port of Portland, UK)

Baltic Index Falls on Sliding Capesize Rates

The Baltic Exchange's main sea freight index fell for a second straight session on Wednesday to its biggest one-day decline in nearly six months, as rates for capesize vessels fell after a strong run.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 7%, or 151 points, to 2,014 points, its biggest one-day drop since January 31. The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from…

Image: Port of Riga

Riga Port Aims Growth with LNG Move

The Baltic Sea port, Port of Riga is now offering regular port services for liquefied natural gas (LNG)-powered container vessels to reduce the environmental impact of its operations and boost its container throughput."By officially welcoming the new container ship Containerships Polar, the Port has started regular port services to LNG-powered container vessels," said a press note from the Latvia’s major port said.It is planned that the first two 100% LNG-powered vessels Containerships…

AdobeStock / © Lidian Neeleman

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

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…

Image: Hamburger Hafen und Logistik AG (HHLA)

RoPax Ferry Finbo Cargo Enters Muuga Port

The Estonian terminal operator HHLA TK Estonia is strengthening its position as a RoRo hub in the Baltic region.The wholly owned subsidiary of Hamburger Hafen und Logistik AG (HHLA) said in a press release that the Finnish ferry company Eckerö Line recently began connecting the port of Muuga, where HHLA TK Estonia operates a multi-function terminal, with Vuosaari in Finland. Twice daily, the RoPax ferry Finbo Cargo enters the port of Muuga, which is about 20 kilometres east of the Estonian capital, Tallinn.

A coal bulker underway. File Image: K Line

Baltic Index Propelled Again by Capesize, Panamax Demand

The Baltic Exchange's main sea freight index rose on Wednesday, driven by demand for capesize and panamax vessels.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.6%, or 53 points, to 2,064, its highest since January 2014. The index has surged about 60% this year. The index extended gains for a seventh straight session, mainly driven by strong demand for vessels that ship iron ore from Brazil.A restart of Vale SA's Brucutu mine in Brazil that was shut in early February after a tailings dam burst…

Image: Meyer Werft

AIDA Cruises to Trial Fuel Cells

The  American/British-owned German cruise line AIDA Cruises announced that it is planning the first practical trial of fuel cells (battery power) aboard an AIDA ship by 2021.The trial will take place in cooperation with Meyer Werft within the scope of the ‘Pa-X-ell 2’ project promoted by Germany’s Federal Ministry of Transport and Digital Infrastructure.The German brand of Carnival Corporation said in a press note that it has been focusing for many years in research into and the…

"Marella Explorer" in Kiel / Foto: PORT OF KIEL

Maiden Call by Marella at Port of Kiel

On Tuesday morning (16th July) the cruise ship “Marella Explorer” berthed in the port of Kiel with 2,000 mostly anglophone passengers on-board. The vessel follows an itinerary of 14 days leading it all across the Baltic Sea. It started in Newcastle on 13th July and will conclude its cruise in the same port on July 27th.On the occasion of its maiden call, the Lord Mayor of Kiel, Dr Ulf Kämpfer, welcomed Captain John Spencer Clark to the State Capital City of Schleswig-Holstein and presented him with the traditional inaugural plaque.

file Image: CREDIT AdobeStock / © Lucasz Z

Baltic Index at 5-1/2 Year Peak as Capesize Demand Soars

The Baltic Exchange's main sea freight index hit a five-and-a-half-year high on Monday on the back of strong demand for capesize vessels shipping iron ore.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.4%, or 63 points, to 1,928, its highest since January 2014. The index has tripled since February. The index rose 7.2% last week for a fourth straight week, mainly driven by strong demand for vessels that ship iron ore from Brazil.A restart of Vale SA's Brucutu mine in Brazil in June…

© Oleksii/Adobe Stock

Maritime Cyber Alert

For some years now, the maritime sector has experienced breaches of various computer and information technology (IT) systems. Primarily, these breaches have been collateral damage. The maritime sector has almost never been the intended target. That does not mean that the damage has been minor. In June 2017, A.P. Moller-Maersk suffered a major cyber-attack. The malware had been designed by Russian hackers to disrupt the Ukrainian power sector. Once released, though, it proved to be indiscriminate, infecting IT systems worldwide that had not been kept up to date. In the case of A.P.

Pic: 2020 Bulkers

2020 Bulkers Fixes 3 Bulkers with Koch

Norwegian shipowner 2020 Bulkers has reached time charter agreements for three of its newbuildings with Koch Supply & Trading, a subsidiary of Koch Industries.Bulk Sandefjord has secured a new 36 months time-charter at an index-linked rate, reflecting a premium to the Baltic 5TC index.The time-charter also includes a profit-sharing of any economic benefit derived from operating the vessel´s scrubber. The 36 months time-charter replaces the previous 12-15 months time-charter at a TCE rate of USD 19…

file Image: AdobeStock / © Leonid Eremeychuk

Baltic Index hits Highest Level since 2014

The Baltic Exchange's main sea freight index hit a five-and-a-half-year high on Friday, boosted by stronger demand and tight spot tonnage in the Atlantic region.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.7%, or 49 points, to 1,865, its highest since January 2014. The index has tripled since February. The index rose 7.2% this week, to post its fourth straight week of gains, mainly driven by strong demand for vessels that ship iron ore from Brazil.The capesize index rose 125 points, or 3.7%, to 3,541 points, its highest since Aug. 15, 2018.

Baltic Sea will be the Worlds First Broadband Sea

“The need for data capacity is constantly increasing and the combination of sufficient reach and high capacity is a challenge," said Kenneth Påvall, IT infrastructure manager at Rederi AB Eckerö. "We have now chosen the solution that we believe will provide the best capacity. The projects have run smoothly and we are approaching our goal of having a stable and fast broadband to all passenger ships in our fleet. Cost-effectiveness is important and the fact that vessels operate…

Photo: Containerships

Containerships Introduces Second LNG-Powered Ship

Containerships, an expert in Intra-Europe and a subsidiary of the CMA CGM Group, a leader in shipping and logistics, has announced it took delivery of its second container ship powered by liquefied natural gas (LNG), the Containerships Polar.As the second LNG-powered ship for Containerships and the CMA CGM Group, the Containerships Polar will be phased into the redesigned BALT 2 service in the Port of Rotterdam on June 23rd, 2019. At the beginning of May, the 1,380-TEU vessel…