charter rates

We are ‘well insulated’ from this charter market crash’, says Danaos CEO

Short-term containership charter rates have plunged by up to 40% since the beginning of the year, as ocean carriers rush to off-hire surplus tonnage.
Shipowners are again coming under pressure to adjust charter party daily hire rates for long-term fixtures, in a repeat of the abnormal discounts seen before the 2016 Hanjin bankruptcy.
“Liner companies have addressed the drop in volumes brought on by the pandemic by cancelling sailings and idling capacity. …

The post We are ‘well insulated’ from...

https://theloadstar.com/we-are-well-insulated-from-this-charter-market-crash-says-danaos-ceo/

Shipowners and carriers count the cost of scrubber retrofit snarl-up

The idle containership fleet has soared to 225 vessels, 1.32m teu, but more than 60% of the inactive capacity is due to scrubber retrofitting ahead of the IMO 2020 regulations.
Based on consultant Alphaliner’s latest data, there are 83 ships, with a total capacity of 839,130 teu, either undergoing scrubber retrofits or at anchor awaiting their turn at shipyards.
Containership owners and ocean carriers are increasingly concerned at the time vessels are …

The post Shipowners and carriers count the...

https://theloadstar.com/shipowners-and-carriers-count-the-cost-of-scrubber-retrofit-snarl-up/

Global container fleet breaches 23m teu as new ULCVs hit the water – and market softens

A wave of ULCV deliveries this year has pushed the total containership fleet capacity over the 23m teu mark, with the last million slots added in a breath–taking 14 months, according to an Alphaliner report. 
However, the newbuilds, mostly consisting of ULCVs, have arrived at a time of softening demand growth across the major tradelanes of the world, which is already forcing carriers to blank a significant amount of headhaul voyages. 
In fact on Monday the 2M partners, Maersk and MSC advised...

https://theloadstar.com/global-container-fleet-breeches-23m-teu-as-new-ulcvs-hit-the-water-and-market-softens/

Do the Scrubber-Equipped Tonnage Premiums Meet Expectations ?

  • Premiums not as high as fuel prices suggest they should be, says GOGL’s Vartdal.
  • A competitive advantage to protect the company against significant potential risks have been developed, says the CEO of GOGL.

Charter rates for scrubber equipped tonnage are falling short of expectation, reports Ship & Bunker.

Premiums not as high as fuel prices

“They are willing to pay a premium but not necessarily the premium you want to see if you look at the spread in the fuel prices,” Golden Ocean Group Limited...

http://mfame.guru/do-the-scrubber-equipped-tonnage-premiums-meet-expectation/

Carriers looking to fix charters long-term as IMO 2020 squeezes ship supply

Non-operating containership owners Seaspan and Danaos have reported “positive supply side-effects” from the IMO’s 0.5% sulphur cap on vessels, coming into force next January.
Indeed, a zero orderbook for container tonnage under 10,000 teu, combined with more ships being taken out of service for scrubber installation, has resulted in a significant tightening of supply in the boxship charter market.
The world’s largest independent owner, Seaspan, said it expected scrubber programmes to run …

The...

https://theloadstar.com/carriers-looking-to-fix-charters-long-term-as-imo-2020-squeezes-ship-supply/

MSC charters two post-panamax containerships fitted with scrubbers

MSC has agreed new long-term charters for two post-panamax scrubber-fitted containerships with non-operating shipowner Capital Product Partners. 
By the start of the IMO’s 0.5% sulphur cap regulations on shipping, on 1 January, MSC will have installed exhaust gas cleaning systems on about half of its fleet. This will enable them to continue to burn cheaper heavy fuel oil (HFO) and enjoy lower operating costs than ships using low-sulphur fuel oil (LSFO). 
The 2007-built 8,266 teu Agamemnon will...

https://theloadstar.com/msc-charters-two-post-panamax-containerships-fitted-with-scrubbers/

Seaspan gains $227m charter penalty windfall from Ocean Network Express 

More detail is emerging on the significant indirect costs incurred by Japan’s K Line, MOL and NYK when they merged their container businesses into Ocean Network Express (ONE) last year. 
Non-operating containership owner Seaspan Corporation said today it had received a penalty contract payment of $227m from a ONE equity owner – which would either be K Line or MOL, as NYK does not have any ships on charter from Seaspan. 
The payment related to the early termination of the charter parties of...

https://theloadstar.com/seaspan-gains-227m-charter-penalty-windfall-from-ocean-network-express/

Carriers hit by rising charter rates as shipowners cash in on demand for tonnage

A substantial spike in daily hire rates for post-panamax containerships will hurt ocean carriers with the highest percentage of chartered-in tonnage. 
Moreover, the weaker carriers are finding themselves at the mercy of containership owners that are once again able to dictate terms, adding further pressure to their P&L accounts. 
According to Greek containership owner Costamare, rates for six to 12–month charters on vessels larger than 6,800 teu have soared by more than 30% this year. 
During...

https://theloadstar.com/carriers-hit-by-rising-charter-rates-as-shipowners-cash-in-on-demand-for-tonnage/

How To Raise US$50M and Purchase Three Tankers in 18 Months

According to Tanker Shipping, at the Asian Tanker Conference, AG Shipping & Energy’s global head and head of trading, Mangish Kakodkar shared his journey.

Challenging times

AG Shipping & Energy’s global head and head of trading, Mangish Kakodkar, shared his 18-month journey to tanker ownership to show how “normal people like me, my brother and cousin” can in challenging times “come out of our comfort zone at an established company, set up on our own, raise US$50M and purchase three tankers.”

AG...

http://mfame.guru/how-to-raise-us50m-and-purchase-three-tankers-in-18-months/

Baltic Dirty Tanker Index Down by 30% Strong Snapback Expected

The world oil market is witnessing volatility as the maritime industry changes itself to make it viable as per the new IMO 2020 regulations. Charter rates are collapsing, barrels of cargo carrying fleet tankers are going off the market. Despite all this, the analysts in the industry haven’t entirely dimmed the prospects of the shipping industry.

This excerpt from a Bloomberg article written by Firat Kayakiran analyzes the present situation and underlines what the future has in store for us.

The...

http://mfame.guru/baltic-dirty-tanker-index-down-by-30-strong-snapback-expected/

+ More