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Tanker Market Rates 12/06/2019

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Dryships Inc. Announces Acquisition Of 100% Of Heidmar Inc.

DryShips Inc., a diversified owner and operator of ocean going cargo vessels announced it has completed the acquisition of 100% of the issued and outstanding shares of Heidmar Inc. (“Heidmar”), a global tanker pool operator. Prior to the transaction, DryShips indirectly owned approximately 49.8% of Heidmar. As part of the transaction, DryShips acquired the remaining approximately 50.2% of Heidmar currently held by other unaffiliated entities, for an aggregate consideration of approximately $17 million. The transaction was approved by the independent directors of the Company. In connection with the transaction, Mr. ...

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Diana Shipping Inc. Announces Time Charter Contracts for m/v New York with Singapore Marine and m/v Boston with Oldendorff

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Singapore Marine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$15,500 per day, minus a 5% commission paid to third parties, for a period of minimum seventeen (17) months to about nineteen (19) months. The charter commenced on June 7, 2019. The “New York” is a ...

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APL Halves Fleet Carbon Emissions Intensity Since 2009

Following the CMA CGM Group’s recent announcement on reinforcing its environmental objectives, APL today announced a 47.4% reduction in carbon dioxide emissions per container transported per kilometre in 2018, compared to its base level in 2009. The result follows the Environmental Performance Assessment (EPA) of APL’s 2018 carbon dioxide emission data by the global non-profit organization Business for Social Responsibility’s (BSR’s) Clean Cargo Working Group (CCWG). The Clean Cargo EPA data was verified by Lloyd’s Register Group according to the Clean Cargo verification protocol and principles of ISO14064-3:2006 standard. APL ...

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MABUX: Bunker Market this morning June, 11

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) declined on June. 10 380 HSFO – USD/MT 400.52 (+4.72) 180 HSFO – USD/MT 439.77 (+2.73) MGO – USD/MT 647.61 (+0.92) Meantime, world oil indexes demonstrated irregular changes on June. 10 as U.S.-China trade tensions continued to threaten demand for oil, but tight crude supply and the swift end to a trade dispute between Mexico and the United States offered support. Brent for August settlement decreased by ...

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Trade diversion

Global supply chains are being redesigned as the US attacks free trade, but are there really any safe harbours? In case you hadn’t noticed, US President Donald Trump likes tariffs. Since he entered office in January 2017 to the end of last year, his actions saw the ratio of US imports covered by some form of trade protection rise from 2.3% to 14.9%. That figure will rise to 100% if he follows through on his threat to slap tariffs on the remaining non-tariffed Chinese imports. His weaponisation of tariffs is ...

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GS Engineering, Daewoo Shipbuilding can bid for public projects: court

A Seoul court has ruled in favor of GS Engineering & Construction Co. and Daewoo Shipbuilding & Marine Engineering Co. over their requests that bidding restrictions for public projects be suspended, company officials said Monday. The Seoul High Court made the decision in May, clearing the obstacles for the two companies to bid for public projects for about three or four years until the Supreme Court issues a final ruling, they said. The court said the suspension of bidding restrictions is necessary to prevent irreparable damages to Daewoo Shipbuilding & ...

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Panama Canal postpones sixth draft restriction to June 19

The Panama Canal Authority announced over the weekend a further postponement on the introduction of tighter draft restrictions on vessels until June 19. The ACP said recent rainfall in the Panama Canal watershed eased water levels in the Gatun Lakes, allowing for continued transit at the current maximum draft restriction of 44 feet (13.41 meters). The impending draft restriction — the sixth for 2019 — will limit the maximum allowable draft to 43 feet (13.11 meters) in the Neopanamax Locks. It was first announced May 6 and had been originally ...

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India’s container exports grew 6% during Jan-March; imports contracted 2.2%: Study

India’s container export-import trade grew 3 per cent in the first quarter of 2019 compared to the corresponding quarter of the previous year. According to a report by Maersk India, the growth in exports was driven by the Middle-East and China amid subdued imports. The study said container exports saw a growth of 6 per cent, led by refrigerated cargo, engineering and pharmaceutical sectors. Imports, however, slid, registering a negative growth of 2.2 per cent. Steve Felder, Managing Director, Maersk (South Asia), said: “Indian exporters are expanding their geographical range ...

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Essar Ports posts record growth in cargo throughput in April-May 2019

Essar’s Ports business, which operates four terminals on the east and west coasts of India, has registered a 29 percent growth in cargo volumes in the first two months of the current financial year (April-May 2019), with a throughput of 9.2 MT (million tonnes). The growth has been driven by a 131 percent increase in third-party cargo when compared to the same period in the previous financial year. Cargo volumes from captive customers also grew by 11 percent. In the month of May 2019 alone, the four terminals cumulatively handled ...

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Suez Canal breaks records, transfers LE 74B to state treasury

The Finance Ministry said Saturday the Suez Canal Authority has provided the state treasury with LE 74 billion in the 2018/2019 fiscal year. The figure is historically the highest, the ministry added in a statement. It does not include operating and maintenance expenses, financing investment plans, expansions and many projects serving the national economy, the statement read. The total revenues have recorded a remarkable increase, reaching LE 104.2 billion in the 2018/2019 fiscal year, compared to LE 74.2 billion two years ago, with a growth rate of 40.4 percent. Source: ...

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China iron ore imports rise in May, but supply crunch remains

China’s iron ore imports rebounded in May from an 18-month-low in April, but were still well down on the same month last year as disruptions to output in Brazil and Australia hampered shipments. The world’s biggest iron ore consumer brought in 83.75 million tonnes of iron ore last month, up 3.7% from April but down 11% from May 2018, according to data from the General Administration of Customs on Monday. For the first five months of the year, China imported 423.92 million tonnes of iron ore, down 5.2% on the ...

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China’s imports of major commodities rise in first five months

China imported more major commodities in the first five months of the year, data from the General Administration of Customs showed Monday. The country’s imports of crude oil climbed 7.7 percent year on year to 205 million tonnes during the period, while those of refined oil rose 3.7 percent to 14.79 million tonnes. A total of 39.43 million tonnes of natural gas were imported during the period, up 13.4 percent from one year earlier. Imports of coal increased 5.6 percent year on year to 127 million tonnes. However, iron ore ...

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Brazilian soybeans feed China’s oil mills via new port

A ship carrying 50,700 tonnes of soybeans from Brazil arrived at the port of Panjin in northeast China’s Liaoning Province, marking the commissioning of the port’s role for grain imports. Panjin port, the fifth designated grain-importing port in Liaoning, is among the nine ports approved by the China General Administration of Customs on May 8 to handle and supervise grain imports. After the Panamanian transport vessel “AlANTAS” docked at the Panjin Grain Terminal, grain unloaders transported the soybeans to a fully-enclosed conveyor at a speed of 700 tonnes per hour. ...

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Coal oversupply to limit price gains

European coal prices posted tentative gains early on Monday, although market participants said lacklustre demand and swelling stocks would likely keep pressure on the market this week. The API 2 front-year contract traded last up USD 0.35 at USD 66.50/t, while front quarter had yet to trade on Ice Futures at the time of writing. The Cal 20 gains coincided with rising gas prices, with the Dutch TTF front-month contract trading EUR 0.14 higher at EUR 11.66/MWh on Ice Endex. Yet physical coal trading activity remained “rather quiet” amid “very ...

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