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Maritime Economy
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2012 May 07
Storm
Investors See Losses Rise, German Shipping Funds Die
More than 1,000 investors lost 37.5 million euros ($49 million) when Germany’s Container Flotten- Fonds filed for insolvency last year.
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2012 Apr 24
tanker
Record Chinese oil import is causing rates to rise
Record Chinese oil imports are emptying the Atlantic Ocean of very large crude carriers and their 2 million-barrel cargoes, driving a rebound in rates for the smaller vessels left to supply the U.S. from West Africa.
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2012 Apr 10
Ship dismantling
Oversupply of cargo ships provides ocean of worthful scrap
New evaluations are showing that the downturn in shipping is hitting the industry so hard that some of the world's biggest ships are now worth little more than their scrap value.
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2012 Apr 03
tanker
Tanker Rates Seen Reversing Rally as Oil Glut Expands: Freight
The fastest expansion in oil cargoes since 2004 is exceeding demand and filling up storage tanks from Egypt to Japan, creating a glut that threatens to reverse the biggest gain in shipping rates in five years.
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2012 Mar 27
Nordic Tankers
Nordic Tankers reaches solution with its lenders for the product tanker fleet and divests its chemical tanker activities
Nordic Tankers has entered an agreement on the divestment of its chemical tanker operations to a company controlled by Triton, a European investment firm.
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2012 Mar 21
March 14 – 20 Slower growth of BDI in the last week lower demolition activity in the dry-bulk sector and lower demand growth
The Baltic Dry Index, depicting the level of freight rates in the commodities shipping sector, ended on March 20 at the level of 884, experiencing a 4.74% increase compared to March 13.
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2012 Mar 20
containership: MSC Carole
Ship Owners Losing After $11.4 Billion Battle for Boxes: Freight
After a quarter in which companies selling space on container lines doubled rates, the amount the owners of the ships are being paid is the least in two years.
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2012 Mar 14
March 7 – 13: Steel industry rebound pushed dry-bulk freight rates up by 10.7 %
The recovery of the steel industry and increased demand in the Atlantic basin has pushed the BDI index up in the last 7 days by 10.7%. March 13 ended with the BDI rate of 884.
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2012 Mar 07
Feb 28 – March 6 : The first week of March for the dry bulk shipowners – so far so good
Freight rates of dry cargo shipments have been rising through the first week of March. The Baltic Dry Index rose by 4.9% in the week Feb 29 – March 6.
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2012 Feb 29
BDI
Feb 21 – 28 : Baltic Dry Index in the Green Zone
In the period of February 21-28, The Baltic dry Index has seen an increase of 4.53%; it rose from 706 to 738. The increase can be attributed to the expected return of the steel production activity in China. Still the increase is not to cause too much excited optimism, since although rising, the steel production in China, as well as other steel producing countries, is much below last years' level
