(Bloomberg) — Golden Ocean Group Ltd., the owner of ships hauling coal and iron ore led by billionaire John Fredriksen, plans to curb long-term charters for its fleet next year in anticipation of rates rebounding.
The company has 37 percent of its largest Capesize vessels available for single-cargo charters this year and 38 percent of its Panamaxes, the Hamilton, Bermuda-based owner said in a statement today. That proportion will gain at the expense of longer-term bookings starting 2014, allowing the company to benefit as the market improves, according to the statement.
Rates for Capesizes averaged below what owners need to cover running costs including crew and repairs this year, according to data from the Baltic Exchange in London and Moore Stephens LLP, a consultant tracking the industry’s expenses. Costs for Panamaxes averaged the lowest since 2002 since the start of January.
D/S Norden A/S, Europe’s largest publicly traded owner of the vessels, said May 15 it booked fewer Panamax cargoes than ships, its first bet since 2010 that rates for the vessels will rise. Greek ship owners ordered the most new Capesizes since 2008 in the first quarter.
(Bloomberg) — Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities. At least...
March 19 (Reuters) – Tanker company Euronav will exit Belgium’s blue-chip Bel-20 index after just two days of trading, as it no longer meets the membership conditions after its takeover by Compagnie Maritime...
MOSCOW, March 19 (Reuters) – The new head of Russia’s Navy was formally presented in his new role for the first time on Tuesday at a pomp-filled ceremony, the state RIA news agency reported,...
March 19, 2024
Total Views: 2485
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.