Drybulk FFA Market: Vale’s Woes Continue to Dull Capesize Rates

  • Vale has reached an agreement with Brazilian authority to resume operation of four previously halted pellet plants in Tubarao, Brazil.
  • It is expected to suffer a shortfall of 40 million mt per year in its iron ore output from the decommissioning of its ten dams.
  • Capesize 5-time charter average has bagged spot price of $7,342, up $58 day-on-day basis.
  • Panamax remained unaffected by capesize while Supramax emerged as a strong contender with $5,634.

The return of Chinese trade participants from...

http://mfame.guru/drybulk-ffa-market-vales-woes-continue-to-dull-capesize-rates/

Global Ship Lease announces new charter

Global Ship Lease, Inc. (the “Company”), a containership charter owner, on Nov. 13 announced a new time charter with ANL, a wholly owned subsidiary of CMA CGM, for the 2003-built, 2,207 TEU containership GSL Keta (formerly Delmas Keta). The new charter, commencing on or around November 20, 2018, is for a period of between seven and 10 months (at charterer’s option) at a rate of $8,450 per day, up from $7,800 per day under the preceding charter.

The Company has also exercised options to extend...

http://container-news.com/global-ship-lease-new-charter/