Dry bulk rate recovery positive for asset values




Kari Reinikainen

26 June 2015


Recent recovery in dry bulk freight rates may not be sustainable, but it is good for asset values, say Kurt Waldeland and Erik Nikolai Stavseth, shipping analysts at Arctic in Oslo.

The Capesize market has 'roared' back to life with spot rates quoted at USD9,500/day - up 120% since the start of June, they said in a daily market report emailed to IHS Maritime. "While we do not see the rate level as particularly attractive, the fact that shipowners are now covering OPEX and a little of the amortisation should be a boost for asset values," they said.

"Adding to the mix reported period fixtures in the range of USD14-15,000/day ('SBI Montecino' was on subs at USD14,900/day

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Carnival will stuff more than 7,000 people into its new cruise ships





Carnival Spirit cruise ship Ruth Duncan
by Justin Bachman

The largest cruise line plans to push the limits of cruise ship capacity. 

Carnival will introduce the world's largest cruise ship by passenger count -- although not by size - -with four new vessels capable of accommodating 6,600 passengers alongside hundreds of crew members. The large-capacity cruise ships will set sail between 2019 and 2022.

As part of the news, Carnival sought to stress that the experience won't make the new vessels any more crowded than other options in its fleet. "A major part of the innovative design involves making much more efficient use of the ship's spaces, creating an enhanced onboard experience for guests," the company said Monday in a news release. That means

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Carnival launches ‘voluntourism’ cruise brand

Greg Miller IHS

05 June 2015

Carnival Corp has unveiled a new cruise brand called 'fathom' geared towards travellers wanting to make a 'social impact' through combing voluntary work with tourism, an activity increasingly known as 'voluntourism'.

Fathom will be launched in April 2016, sailing seven-day voyages from Miami to the Dominican Republic. The 710-passenger, 2001-built Adonia will be redeployed from Carnival Corp's P&O Cruises brand for the start-up. "Fathom will cater to a growing market of consumers who want to have a positive impact on people's lives and aren't always sure where to begin," said Carnival Corp CEO Arnold Donald on 5 June.

According to fathom president Tara Russell, "Because fathom will bring hundreds of travellers to a destination on a regular basis, [it] can achieve

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Blowtorches Fail to Ignite Worst Ever Commodity Shipping Market



by Bill Lehane Bloomberg


May 15, 2015 — 1:01 AM CEST


Carnival's LNG-Powered Ships to Hold 6,600 People: CEO

How bad is the market for shipping commodities across the world’s oceans? Consider that more than 100 vessels will probably be scrapped this year -- a record -- and daily earnings for the industry will still tumble.

Having predicted as recently as February that shipping rates this year would jump, forecasters are turning increasingly bearish as China’s coal imports plunge and its iron ore buying expands at the slowest pace on record. The Asian country’s economy, which is the second-largest after the U.S., will expand the least in a generation in 2015, estimates compiled by Bloomberg show.

Against that backdrop, owners will demolish

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Volatility of global spot freight rates rose this year, says Drewry





21 May 2015

 The volatility of global spot freight rates has continued to increase this year over 2014, Drewry Maritime Research has revealed.

Drewry stated that this growth in spot freight rates is based on the assessments on 11 routes gathered by the World Container Index (WCI).

The monthly volatility on Asia to Europe routes has increased 43% on average, in comparison with last year.

"Many non-contract shippers are not currently equipped to cope with huge volatility in their freight costs."

WCI director Richard Heath said: "The two most volatile routes among the 11 we track are Shanghai-Rotterdam and Shanghai-Genoa, with weekly rate increases of $1,000 or more seen during some weeks and monthly volatility of over 40% since the start of

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