Ship Demand to Surge as Ore Cargoes Bust 1.3 Billion Tons

 

Photographer: Sergio Dionisio/
 
Bloomberg

Bulk carriers are loaded with iron ore at the ship loading facility at Fortescue Metals Group Ltd.'s Herb Elliott Port in Port Hedland in the Pilbara region, Western Australia. Close

Bulk carriers are loaded with iron ore at the ship loading facility at Fortescue Metals... Read More

Photographer: Sergio Dionisio/Bloomberg

Bulk carriers are loaded with iron ore at the ship loading facility at Fortescue Metals Group Ltd.'s Herb Elliott Port in Port Hedland in the Pilbara region, Western Australia.

 

Australia’s plans to export more iron ore this year than any nation ever is driving up shipping costs by 80 percent. Increased sales from Brazil before year-end means freight rates could go higher still.

Rio Tinto Group and

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Freight Agreements Get More Confusing Every Year

 

With Alliances Forged and Foundered Australia Reviews Anti-Trust Regulation

AUSTRALIA – UK – WORLDWIDE – The London based International Chamber of Shipping (ICS) has submitted comments on behalf of the global shipping industry to a comprehensive competition policy review being conducted at the request of the Australian Government, which is looking at ways to ‘reinvigorate Australia’s competition culture’. In its submission, the ICS makes a firm point to support the maintenance of what it calls ‘important’ antitrust exemptions that currently apply to international maritime transport, particularly the container shipping sector, exemptions which it argues support the ocean freight industry in a myriad of ways, and the Chamber also draws attention to the practices and recent rulings of other countries that Australia has trade ties with. 

The

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Hapag-Lloyd and MOL in new UK-West Africa service

Hapag-Lloyd and MOL in new UK-West Africa service

 By from London
 

A new service between Hapag-Lloyd and MOL will connect DP World’s London Gateway with various ports in West Africa.

 

The service, to rotate between Antwerp, Hamburg, DP World London Gateway, Algeciras, Dakar, Lagos/Apapa, Tema, Abidjan and Algeciras before returning to Antwerp, will enable the UK to export chemicals, white goods, malt, fish and meat to Africa.

Meanwhile import goods such as canned fish, timber, bananas and vegetables will be carried inland by rail carriers DB Schenker and Freightliner.

“The decision to bring the service to DP World London Gateway by existing customers Hapag Lloyd and MOL demonstrates confidence in DP World London Gateway’s ability to deliver a reliable efficient service and their desire to

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Atlantic Panamax freight rates improve on tight prompt tonnage, better sentiment

London (Platts)--25Jul2014/324 pm EDT/1924 GMT


Platts

Freight rates ticked up for trans-Atlantic Panamax runs as prompt tonnage was met with a fair volume of inquiry, but the long-term outlook remained uncertain, shipping sources said Friday.
     The Hampton Roads, Virginia-Rotterdam coal route, basis 70,000 mt improved to $9.25/mt on Friday, up from $9/mt the day before. SVS was heard fixing on subs at $11/mt on its 70,000/10 mt cargo with 2-port load from Baltimore and Norfolk with discharge at Redcar for August 8 laycan.            According to shipping sources, stems with one port load would be achieving $9.25-9.5/mt for similar dates. ArcelorMittal was heard fixing its Port Cartier, Canada-Ghent, Belgium 75,000/10 mt iron ore cargo at $8.5/mt level for August 7 laycan. The cheaper rate can be

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Shipping association BIMCO sees demolitions supporting tanker market

Stavanger (Platts)--

17Jun2014/607 am EDT/1007 GMT

Copenhagen-based shipping association, the Baltic and International Maritime Council said Tuesday that it saw high demolition prices and volumes for old tankers supporting an uneventful tanker market going forward.
It said that as expected, the second quarter turned out to be less "action-packed" than the first.
"For all tanker segments, rates have side-stepped, with a few noticeable exceptions," BIMCO said in a report released Tuesday.
BIMCO said Handysize product tankers rates lost steam unexpectedly and fell to $5,000/day recently, against above $10,000 and above for much of May.

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It said VLCCs disappointed, slipping below the $10,000/day mark, compared with above $20,000 in February, to end seven months with average earnings at $30,081 per day from October to the

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