Ships Beached for Scrap as Returns Reach Record Low

1:01 AM CET
March 13, 2015
 

Pakistani shipyard workers cut up metal broken off vessels beached at one of the 127 ship-breaking plots in Geddani, west of Karachi. Photographer: Roberto Schmidt/AFP via Getty Images

 

 

(Bloomberg) -- Scrap yards are preparing for record numbers of freighters as shipping rates tumble to all-time lows.

Owners may demolish 40 million deadweight tons of dry bulk carriers, more than double last year’s total, according to Arctic Securities ASA in Oslo. Rates to ship commodities slumped 66 percent last year amid a glut of capacity, the worst performance since the global recession.

China’s combined imports of iron ore and coal, the market’s biggest cargoes, fell to a two year low last month, according to customs data. The

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Reuters: Greek Banks Offloading Shipping Debt to Shore Up Capital

 

 

 

 

 

 

 

 

 
by Aggelos Skordas - Feb 26, 2015
 
 

Greek banks are considering offloading part of their shipping debt portfolios worth billions of dollars in a bid to shore up their capital, Reuters stressed citing banking and ship-financing sources.

Earlier this week, Athens has secured a four-month extension of its existing loan agreement but the danger of it ending up in a wreck and the threat of a hurtful Grexit still in existence, raises the risk of Greek banks facing further deposit loses in the future, the news agency estimated.

“There are several portfolios being shopped around at the moment, including shipping loans,” an unnamed banking and ship-financing source said, adding that “it makes sense for the Greek banks, which face a huge liquidity problem,

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Se venden viejos buques de la Armada desde 22.000 euros

 

 

 

El Confidencial 20.02.2015

La marina subasta cuatro barcos dados de baja para que sean convertidos en chatarra. Están incluidos el L-42 ‘Pizarro’ y el hidrográfico ‘Rigel’

Cuatro buques de la Armada ya dados de baja, algunos con mucha historia detrás como el ‘Pizarro’, se subastarán en los próximos meses en el Arsenal de Cádiz. Destinados a ser convertidos en chatarra, se venden desde 22.000 euros.

Las cuatro embarcaciones fueron dadas de baja hace aproximadamente 3 años, dentro del plan de reducción de buques sin uso que puso en marcha la Armada española. El más importante de todos los afectados por este proceso fue el portaaeronaves Príncipe de Asturias, cuya subasta está prevista para este 2015.

Entre el catálogo a subastar en esta

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World’s Biggest Ship Title Shifts Monthly as Rates Fall: Freight

 

 

 

5:01 PM CET
March 5, 2015
 

Ships sit under construction in a dry dock at the Daewoo Shipbuilding & Marine Engineering Co. shipyard in Geoje, South Korea. Photographer: SeongJoon Cho/Bloomberg

With weak freight rates encouraging shipping lines to send as many goods as possible in a single voyage, Mitsui O.S.K. Lines Ltd. is buying six ships capable of carrying 20,100 20-foot containers, enough to fit about 203 million iPads. Four are being built by Samsung Heavy Industries Co., the world’s third-biggest shipbuilder, and two will

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Baltic Dry Index- 19 feb.2015

 

Daily Market: This page contains the latest Dry Bulk Shipping News


19 February 2015

Baltic Dry Index (BDI)    +2   511
Rates

   

BCI

(Cape index)

BPI

(Panamax index)

BSI

(Supramax index)
INDEX  

539

-25

516

+2

483

+5

SPOT TC AVG (USD)

5333

-114

4127

+17

5052

+50

YESTERDAY (USD)

5447

 

4110

 

5002

 
YEAR AGO (USD)

9751

  10132   11369  




Spot  TC Average = The Average Value of the Main Shipping Routes applicable for each of the 3 types of Ships
BDI=The Weighted Composite Index of BCI/BPI/BSI