business

Baltic Index Gains on Higher Capesize Rates

In a major development, the Baltic Exchange’s main sea freight index gained yesterday. The freight index which tracks the rates for ships carrying dry bulk commodities, gained on Wednesday, supported by stronger rates for Capesize vessel segments, reports Maritime Professional.

Where it Stands Now
  • 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...

http://mfame.guru/baltic-index-gains-on-higher-capesize-rates/

Bulk Report – Week 48

Capesize
  1. A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week closed out.
  2. The West Australia/China rates nudging $9.00 by Tuesday having closed out the previous week at near $6.00 and finishing in the mid $7.00 with rumors of a lower price agreed.
  3. The Tubarao/China rate whiplashed from $15.00 to $18.00 to $15.00 in a week – and some expecting it to go lower. Vale made a last-minute appearance in the market, fixing...

http://mfame.guru/bulk-report-week-48/

David Clark appoints Kent Clarke military business development manager

Kent Clarke is David Clark Co.'s new military business development manager. David Clark Co. Photo

David Clark Co. Inc. (DCCI) has announced the addition of Kent Clarke as military business development manager. Clark’s initial focus will be to introduce new audiences and end users within military and government markets to the Series 9100 Digital and Wireless Intercom System for marine, air, and ground communication applications worldwide.

Clark brings a background in operations, maintenance, and management to DCCI including the following:

• 12 years in the U.S. Navy as an avionics technician...

https://www.workboat.com/news/people-and-products/david-clark-appoints-kent-clarke-military-business-development-manager/

Panama Bunker Sale Slumps to 26 Month Low

The Panama bunker sales volumes in October have reached a 26 month low for all products by 321,050 metric tonnes.

Decrease in sales

According to the Panama Maritime Authority, the 18% drop is estimated to be on a 26 month low since August 2016. The low has been attributed to the recent bunker fiasco were the sale of fuel oil plummeted to 15% in September while the distillates have managed to increase by 11%. Furthermore, many vessels are choosing to lift their bunkers in Panama.

October report

The...

http://mfame.guru/panama-bunker-sale-slumps-to-26-month-low/

Law Officer Says UK can Cancel Brexit

  • UK’s Brexit process has started amidst call for calling it off.
  • The advocate general advises that thecountry needs to call it off within two-year’s time  as specified in Article 50 of the EU treaty.
  • As the House of Common debates and votes on this matter, Brexit call off remains hypothetical
  • The UK Government has made it clear that they have no intentions of revoking Brexit.
  • However, the period can be extended by the 27 EU states who formulated the Article 50, say analysts.

The process of...

http://mfame.guru/law-officer-says-uk-can-cancel-brexit/

Freightos Baltic Container Report – Week 45

Report Highlights

As of November 16, Continuing high transpacific ocean prices reflects increased demand. Less Container Load (LCL) and Full Container Load (FCL) bookings on Freightos went up 40% and 42%, respectively last month, a marked contrast to last year when they didn’t increase at all.

Increased US imports from China

“Freightos data shows recent increases in US imports from China. Paradoxically, they indicate that the trade tariffs are driving increased Chinese imports in the short term....

http://mfame.guru/freightos-baltic-container-report-week-45/

Fleet Cleaner has won the Maritime Innovation Award 2018

On November 12, at the Maritime Awards Gala organized in Amsterdam, Fleet Cleaner has coveted the prestigious Maritime Innovation Award 2018.

True maritime innovation

The jury members hailed the company for its true maritime innovation. Winning the award is yet another indicator that Fleet Cleaners innovation-driven approach, including the high tech cleaning robot and filtration system, has the potential to revolutionize the hull cleaning industry.

Keen on continuous innovation

Director Alex...

http://mfame.guru/fleet-cleaner-has-won-the-maritime-innovation-award-2018/

Diana Announces Time Charter Contract for m/v Thetis With Hudson

  • M/v Thetis previously chartered US$8,350 per day from a contract with Ausca Shipping Limited.
  • It will now be chartering US$10,650 per day for next 14 -17 months from 16 November 2018.
  • The new developments are set to generate a revenue of US$4.47 million gross.
  • Company’s fleet totals to 48 dry bulk vessels post contract completion.

In a recent development, Diana Shipping announced that they have signed a time charter contract with Hudson Shipping Lines Incorporated. The global shipping company,...

http://mfame.guru/diana-announces-time-charter-contract-for-m-v-thetis-with-hudson/

Eastern Shipbuilding Group resumes operations

Eastern Shipbuilding Group's two main shipyards are back to work just two weeks after Hurricane Michael devastated the Panama City, Fla., area. Eastern Shipbuilding Group photo

Eastern Shipbuilding Group resumed operations at both of its two main shipbuilding facilities just two weeks after Hurricane Michael devastated Panama City, Fla., and the surrounding communities.

The most powerful storm to ever make landfall in the Florida Panhandle, Hurricane Michael currently stands as the third most powerful hurricane to make landfall in the U.S., topped only by Hurricane Camille in 1969 and the Florida Keys Labor Day Hurricane of 1935. Yet the majority of ESG’s workforce has...

https://www.workboat.com/news/shipbuilding/eastern-shipbuilding-group-resumes-operations/

Record Traffic on Northern Sea Route as COSCO Completes Five Transits


Northern Sea Route Traffic jumps more than 80 percent as COSCO of China completes five transits with more on the way. Shipping giant Maersk also active on route as well as a number of cruise ships. Shipping traffic along Russia’s Northern Sea Route reached new heights during the first eight months of 2018 as cargo volume increased by more than 80 percent compared to the same period last year, Russian media outlets report. The route is, at least during the short summer season, increasingly...

http://www.highnorthnews.com/record-traffic-on-northern-sea-route-as-cosco-completes-five-transits/

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