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Thursday, June 20, 2019

Baltic Exchange News

Denis Petropoulos (Photo: Baltic Exchange)

Petropoulos New Baltic Exchange Chair

Denis Petropoulos has been elected Chairman of the Baltic Exchange Council with effect from June 1, 2019. He replaces Duncan Dunn who has held the position since January 2018. Denis Petropoulos was a founding partner of Braemar Tankers Ltd and remains a significant shareholder at Braemar Shipping Services PLC. He most recently headed up Braemar's Singapore office for seven years, before returning to the UK.He has been a Baltic Exchange Member since 1999 and has held positions…

© Ralf Gosch/Adobe Stock

Containershipping: Restoring Balance

The repositioning of empty containers costs the liner industry an estimated $15-20billion every year according to Boston Consulting Group (BCG), as containers sit idle at a depot or are repositioned to a different loading point while empty. This is time spent not earning revenue, whil incurring additional costs, and is estimated by BCG to account for 5-8% of total operating costs for an average container liner. These expenses can include inland repositioning by rail or road onto a different port or terminal…

File Pic: Navios Maritime Containers

Navios Names Two Directors

Monaco-based seaborne shipping company Navios Maritime Containers  announced the appointment of Stefan Kuch and Vasilios Mouyis to its Board of Directors.The owner and operator of container ships informed that Kuch has over 32 years of experience in finance and ship finance, having served in senior leadership positions in the shipping division of Commerzbank AG, one of Germany’s leading financial institutions.He also served as Managing Director of Hanseatic Ship Asset Management GmbH, a vessel-owning company within the Commerzbank Group.

New Appointments to Baltic Exchange Council

The Baltic Exchange has announced three new appointments to the Baltic Exchange Council (BEC), the governing body which oversees the Baltic's strategy for membership services, social responsibility, charities and its relationship with its members, governments, regulatory bodies and the global shipping community.Baltic Exchange members Guy Hindley (Howe Robinson), Denis Petropoulos (Braemar Shipping Services) and Andy James (China Navigation) have joined the Council. Lambros Varnavides and John Hadjipateras have stepped down from the Council…

Zvi Schreiber, CEO and founder of Freightos  (Photo: Freightos)

Advancing Digitization in Shipping

CMA CGM becomes the first ocean carrier listed on Freightos. Global freight moves towards the ‘one-stop shopping’ standard.CMA CGM Group and global online freight marketplace company Freightos have established an ambitious pilot agreement whereby CMA CGM has become the first ocean carrier listed on Freightos. Online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade lanes are available on the platform, with further extension to additional lanes planned in the near future.For its part…

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…

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.

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 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…

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…

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…

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 / 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…

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…

file Image: AdobeStock / © Eremeychuk

Baltic Index Edges Higher on Firmer Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the second straight session on Friday, boosted by stronger capesize demand.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points, or 1.1 percent, to 1,031 points. However, the index has declined for the fourth consecutive week, and has lost nearly 30 percent in the last two weeks.The capesize index rose 5 percent, or 50 points, to 1,057 points.

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.

Pic: Seanergy Maritime Holdings

Seanergy Maritime in Leaseback, Refinancing Pact with Cargill

The dry bulk cargo shipping company Seanergy Maritime Holdings announced has successfully concluded the refinancing of the 2011-built Capesize M/V Championship through a leasing agreement with Cargill International.The Nasdaq listed shipping company based in Greece informed that the refinancing has released approximately $7.8 million of liquidity for the Company.Pursuant to the agreement, the Company has chartered back the Vessel on a bareboat basis and subsequently entered it…

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: 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.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer / CREDIT: Seanergy

Seanergy Maritime to Install Scrubbers on its Capesize Fleet

Seanergy Maritime Holdings Corp. announced that it has entered into commercial agreements for the installation of exhaust gas cleaning systems (scrubbers) on five of its capesize bulk carriers before the January 1, 2020 implementation date of the IMO sulfur emission cap regulations.Upon completion of the installations scheduled for Q2 and Q3 2019, the vessels will commence index linked period employment with three leading dry-bulk charterers ranging in durations between three and five years.Stamatis Tsantanis…

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.

© 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.

© 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