Tag: bulk carriers

150 bulk carriers were scrapped A total of 150 bulk carriers were scrapped in the first-half of this year, a surge of 219% over the same period of last year, analyst Golden Destiny reported. The total volume of bulker carriers sent for demolition amounted to 11,473,976 dwt in the first-half compared to 1,875,333 in the previous year's six-month period.The scrapping business in the second-quarter rose by 38% quarter-on-quarter to 87 vessels representing 7,266,359 dwt, the analyst report said. The "depressing levels of capesize earnings have urged many owners towards the disposal of vintage tonnage", the report mentioned. Average time charter capesize earnings are hovering around $13,000 a day in contrast with July 2009 levels of around $60,000 a day.Since the start of this year, 47 capesizes were estimated to have been sent for scrap compared to only five at a similar period in 2010 and nine in 2009, the report added."The large appetite for the scrapping of larger size units in the bulk carrier segment is expected to persist till the end of the year as the outlook in the capesize segment remains negative due to oversupply issues and fluctuations in Chinese iron ore demand," it said.Overall, the first-half of ...

Domestic Brazilian shipyards do not have capacity to take the order, Brazilian mining giant Vale will have China and South Korea build its new giant bulk carriers as domestic Brazilian shipyards do not have capacity to take the order, Vale chief financial officer said on Tuesday."So far we have booked 19 Valemaxes," Guilherme Cavalcanti told Reuters. "The first was already delivered and there are 18 more to come. They are being produced in China and Korea."Although Vale looked at Brazilian shipyards to have the ships built, they were already busy with orders from Petrobas or other companies, a spokeswoman for Vale said.Vale's shipping strategy mainly targets cutting freight costs from Brazil to top iron ore importer China, in order to boost competitiveness against rival diversified miners Rio Tinto and BHP Billiton ."Our target is to keep the difference in transport costs from Brazil to China compared with Australia to China low," Cavalacanti said.Vale rerouted its China-bound first giant bulk carrier Vale Brasil to Italy on its maiden voyage.Vale said its first 400,000 tonnes ship Vale Brasil was diverted to Italy for commercial, not political, reasons and to allow time to finalise talks for future port deals.There had been speculation among ...

Detainable deficiencies linked to fire continue to be the most significant reason sg-eylee 11.9999 Normal 0 false false false MicrosoftInternetExplorer4 In Intercargos fifth edition of Benchmarking Bulk Carriers 2010-2011 publication, ports where bulk carriers were detained in 2010 are listed.Last year was challenging for dry bulk shipping, even though the number of detentions overall stayed surprisingly consistent, when compared with recent trends. Flag administrations such as China and India are becoming increasingly important, whereas the Paris MOU recorded as sharp decrease in the number of bulk carriers detained from 142 in 2009 to just 103 in 2010. This suggests that targeting of vessels is becoming an important issue.It is very important to reduce the likelihood of multiple detention s and to reduce the risk of banning order being imposed. Deficiencies for serious structural reasons declined, suggesting that vessels with the potential to show these types of deficiencies were not as active in the market as they were in previous years.Detainable deficiencies linked to fire continue to be the most significant reason relating to bulk carriers, matched only by increases in ISM-related issues such as ensuring that the correct documentation is on board and pollution related issues.Interesting points of notice:Many Australian ...

Suggesting ways and means for dry bulk companies to self-assess their performance Normal 0 false false false MicrosoftInternetExplorer4 Intercargo issued the fifth edition of Benchmarking Bulk Carriers 2010-2011, including an extensive amount of data which can be used to develop a greater understanding of the industry today. These data also suggest ways and means for dry bulk companies to self-assess their performance against actual and expected industry trends and hence to react to the expectations of the regulators and potential customers alike in areas as diverse as safety, piracy and the trends associated with corporate inexperience.Key findings and implementations include among other things.Age profile: Intercargo uses empirical evidence to show that the quality of the owner and their culture is of most importance than the age of the vessels they control. During last years the average age of the fleet increased marginally to 13.1 years. 20.24% of the dry bulk fleet is more than 25 years old. Vessels over 25 years have an average DPI of 6.11 compare to the sub-25 year sector where the average DPI is 2.32.Casualties: Seven bulk carriers were lost in 2010. Every one of the 44 lives lost was due to cargo related issues: specifically, ...