March 7 (Reuters) - The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at a 12-week high on Tuesday on stronger rates across all vessel segments, especially capesizes. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels, ended up 54 points, or 5.52 percent, at … [Read more...]
Baltic Dry Index Jumps 5% On Higher Rates for Bigger Vessels
April 1 (Reuters) - The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, extended gains on Friday, helped by higher rates for bigger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, jumped 21 points or about 5 percent to 450 points. The index has gained about 55 … [Read more...]
Half of Capesize Bulk Carrier Deliveries Pushed Back, VesselsValue Says
Exactly half of the newbuild capesize bulkers due for delivery in the first quarter of 2016 have been pushed back as owners react to the poor state of the global dry bulk market, according to the maritime data experts at VesselsValue. Senior Data Editor for VesselsValue, Craig Jallal, has been searching through their database and has found that orders where deliveries … [Read more...]
Baltic Dry Index Continues Rise But Capesizes Hit New All-Time Low
March 2 (Reuters) - The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose further on Wednesday, on improved rates for panamaxes and smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser rose three points to 335 points. The index has lost … [Read more...]
Asia Capesize Rates Could Slide Further in Overtonnaged Market
By Keith Wallis SINGAPORE, Oct 29 (Reuters) - Freight rates for capesize bulk carriers could slip further next week as too many ships available for hire weigh on the market despite reasonable cargo volumes, brokers said on Thursday. "There is no sign the market is going to be better - there are too many vessels," a Shanghai-based capesize broker said. Some … [Read more...]
Norden Trims Focus: Danish Owner Plans Exit from Capesize and Post-Panamax Vessel Segments
By Ole Mikkelsen COPENHAGEN, Sept 21 (Reuters) - Danish shipping company D/S Norden plans to cut the number of vessel types it operates to help it through a long-depressed shipping market that could be about to get worse due to a slowdown in China, the company's chief executive told Reuters. With around 250 vessels, Norden is a major global player in areas such … [Read more...]
Asia Capesize Rates to Hold Steady with All Eyes on Atlantic
By Keith Wallis SINGAPORE, July 23 (Reuters) - Freight rates for capesize bulk carriers are likely to hold steady next week although a rush of cargo in the Atlantic would again provide the trigger for rates to move higher, ship brokers said. That came after a surge in Atlantic and transatlantic cargoes boosted capesize freight rates from Brazil to China by … [Read more...]