Dan-Bunkering Welcomes Damidaviciute
Dan-Bunkering (America) Inc. in Stamford, CT, has announced the employment of Agne Damidaviciute as Purchaser.Damidaviciute comes from a similar position at a company based in The Netherlands, enabling her to add value to the office in Stamford, CT, in terms of procurement experience from day one.She is, however, neither American nor Dutch, but was born and raised in Lithuania, and entered the shipping industry in 2016.Before joining Dan-Bunkering, her education and professional career brought her to Denmark, Brazil and the Netherlands, and finally Stamford, CT, as per September 1, 2019.
Baltic Index Snaps 10-day Winning Streak
The Baltic Exchange's main sea freight index fell on Thursday, breaking a 10-day winning streak, as rates for capesize vessels eased.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 19 points, or 0.8%, to 2,499 points. On Wednesday, the index hit its highest since November 2010 at 2,518 points. "We certainly expect freight rates to come down from the highest that we've seen just during the spike now, but remain profitable for the remaining part of the year…
Hapag-Lloyd Splits EU Ops into Two Regions
Cargo container shipping line Hapag-Lloyd has is to split its European operations into northern and southern regions. The company said the move was part of its strategy to remain closely connected with international clients. After the reorganization, Hapag-Lloyd will serve its customers from a total of six regions.The new Region South Europe will be headquartered in Genoa, Italy to reinforce the company’s activities in the Mediterranean region. Juan Pablo Richards, previously manager of the company’s operations in Area Brazil…
BREAKBULK SHIPPING: Breakbulk Breaks the Mold
In the cargo shipping world, there’s the bulk sector, the container segment, and then, there is “everything else.”When it comes to ‘everything else,’ breakbulk is the cargo that resides in between, comprising much of that remainder, including forest products (lumber, baled pulp) and steel. Breakbulk may, at times, share space on multipurpose vessels that also handle heavylift and project cargo, but can also be transported on vessels that handle drybulk. Prior to the advent of containerization, bales, barrels and pallets dominated.
Hapag-Lloyd Splits European Services
German-based cargo container shipping line Hapag-Lloyd AG is splitting its Region Europe into northern and southern parts. In doing so, the world’s fifth-largest liner shipping company will remain close to global markets and serve customers from a total of six regions effective immediately.The new Region South Europe, which will have its headquarters in the Italian port city of Genoa, aims to bolster Hapag-Lloyd’s competitive position in the Mediterranean region. It will include Area Italy…
22 Bulkers Added to Fleet in Q2: Belships
The dry bulk market for Supramax/Ultramax bulk carriers improved from the first to the second quarter 2019, said Norway-based Belships.Measured by the BSI-58 index, earnings averaged USD 8 167 per day (net) – 7 per cent up from the previous quarter, said the bulk ship operator and management company.The market reacted strongly as iron ore mines in Brazil started coming back into operation after the tailing dam accident in January. Despite continued turbulence and interference from ongoing trade wars and uncertainties in macroeconomic growth forecasts…
McQuilling Mid-Year Tanker Market Outlook
McQuilling Services Announces the Release of the 2019 Mid-Year Tanker Market Outlook Update.The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. The outlook includes a view on future asset values, time charter rates, market freight rates and TCE revenues for 24 major tanker trades and four triangulated routes across eight vessel segments for the second half of 2019 through the remaining four years of the forecast period 2019-2023.
Capesize Strength Propels Baltic Index to 9-Year High
The Baltic Exchange's main sea freight index climbed to a near nine-year peak on Friday propelled by robust capesize demand, with rates for all the vessel segments scaling multi-year highs.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 101 points, or 4.4%, to 2,378, a peak since November 2010. The main index also posted a 27.3% monthly increase, extending its winning streak to a sixth month.The capesize index jumped 261 points, or 6.2%, to 4,467, a level last seen more than 9 years ago. The index also posted its third weekly gain, up about 11.9%.
Baltic Index at 4-week Peak on Broad Support
The Baltic Exchange's main sea freight index rose to its highest in more than four weeks on Thursday, lifted by strong demand across all vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 57 points, or 2.8%, to 2,118, its highest in a month.The capesize index jumped 158 points, or 4.3%, to 3,829, its highest since July 23. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $1,059 to $29,490. "The Brazil to China route is now showing signs of improvement.
Brazil Okays BW Offshore's Oilfield Buy
Norwegean provider of floating production services to the oil and gas industry BW Offshore has won approval from Brazilian oil regulator ANP for the purchase of the Maromba oilfield, part of the Oslo-listed company's plan to become an operator and not just a supplier of oil services, platforms and ships.The purchase, from Chevron Corp and Petrobras, extends BW's operations in Brazil, where it already has two floating production, storage and offloading (FPSO) units.“We are proud to announce that our subsidiary BW Energy has been approved by the razilian National Agency of Petroleum…
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…
USDA Sees bigger-than-expected U.S. Corn Crop
The U.S. corn harvest will be bigger than previously forecast, the U.S. Agriculture Department said on Monday, as the government issued a surprise boost to its outlook despite concerns about a wet spring and dry summer.For the 2019/20 crop year, the corn harvest will total 13.901 billion bushels, based on an average yield of 169.5 bushels per acre, the USDA predicted in its monthly supply and demand report. Farmers seeded 90.0 million acres with corn and were expected to harvest…
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.
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.
Pacific Basin Hopeful on Dry Bulkers
The dry bulk freight market is expected to benefit in the second half of 2019 and early 2020 from many larger ships being taken out of service for several weeks for scrubber installation, said Hong Kong-based Pacific Basin Shipping Limited.The maritime transport company engaged in international dry bulk shipping through the operation of a fleet of vessels to carry diverse cargoes for many of the world's leading commodity groups said: "We believe the market for smaller dry bulk ships like ours will benefit also over the longer term…
NYK Bulk Shipping Records Lower Profit
Japanese shipping and logistics company Nippon Yusen Kabushiki Kaisha (NYK) said that its bulk Shipping division recorded lower profit than previous year.In the first quarter of the fiscal year ending March 31, 2020 (April 1, 2019, to June 30, 2019), its revenues from the bulk shipping amounted to 195.1 billion yen registering -11.3 decrease compared to the same period last year. The profit is down by -1.2 at 9.2 billion yen"Energy and Car transport is robust but lower dry bulk market due to production stoppage in Brazil and Western Australia…
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.
Iranian Ship Departs Brazil, Second Bulker to Follow
An Iranian ship called Bavand, which had been at the heart of a geopolitical spat between Brasilia and Tehran, set sail from Brazil on Monday after receiving fuel from state-run Petroleo Brasileiro , the port of Paranaguá said.Meanwhile, a second Iranian ship, the Termeh, which set sail from Paranaguá port two days ago, was on Monday heading to the southern Brazilian port of Imbituba, where it is due to pick up a shipment of corn before heading back to Iran.The ships were stranded after Brazil's state oil company, known as Petrobras, refused to sell them bunker fuel in the wake of U.S.
Iberdrola Profits Up with Contribution from OWF
Spanish public multinational utility company Iberdrola said that its gross operating profit (EBITDA) grew by 12.5% to €4.99 billion, due to the positive performances in the United States, Mexico and Brazil and the contribution of the Wikinger offshore wind farm, which amply offset lower contribution from the Networks and Renewables businesses in Spain and the Generation and Retail business in the UKGroup Chairman Ignacio Galán explained that “this double-digit growth highlights the success of our business model…
INSIGHTS: Noose Tightens Around Iranian Shipping
Somewhere on its journey from the waters off Iran, around Africa's southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own.The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines off Gibraltar, raising tensions in the Gulf where Iran detained a UK-flagged ship in retaliation.Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions…
Brazil: No Trade Impact to Iran Shipping Impasse
Brazil's foreign trade secretary Lucas Ferraz said there are no signs that the impasse involving Iranian ships without fuel near Brazilian ports will affect bilateral trade relations.So far, Ferraz said, there has been no impact on Brazilian exports to Iran. The ships, scheduled to bring grains back to Iran, lack fuel for the journey because state-run oil company Petroleo Brasileiro SA refused to sell them bunker fuel due to U.S. sanctions on Iran.Reporting by Rodrigo Viga Gaier
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…
García Joins the SENER
SENER has hired Luis García Jiménez as its Director of Corporate Development. This post is essential to the growth and development of the SENER Group, and reports directly to the CEO, Jorge Unda.From his new position, Luis García will be in charge of analyzing, organizing and coordinating medium- and long-term opportunities involving mergers, acquisitions and investments. He will also participate, together with the CEO and the directors of SENER's different divisions, in defining…
Iran Grain Ships Stranded in Brazil due to U.S. Sanctions
Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States.The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertilizer. They were expected to load corn and return to Iran, but lacked enough fuel for the trip, the port operator in Paranaguá told Reuters.Food is not covered by U.S.
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…
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…