Tag: rates

But analysts say downward trend will continue until 2014 The downward trend for global freight rates won't improve much until 2014, analysts claimed this week, despite shipping lines announcing increases.A better balance between new capacity and demand in 2014 should lead to a modest recovery, according to CIMB in Hong Kong.Following a record number of deliveries last year, the number of cargo vessels under construction is equivalent to about one-third of the existing global fleet, CIMB's analysts said on Monday.They said there was little that shipping lines could do to improve the situation in the short term, adding that they "did not expect a huge volume of demolitions, given the relatively young fleet".All-in freight rate levels out of Asia remained finely balanced, despite the surge of traffic before the Chinese New Year being over. According to the World Container Index (WCI), the average spot rate quoted by carriers for cargo from Shanghai to Los Angeles on 26 January remained at US$1,820 per feu, the same as the week before, but still well above the $1,420 quoted just before Christmas.The all-in rate from Shanghai to Rotterdam fell over the week by $35 to $1,366 per feu, but this was still well ...

Liquefied natural gas spot tanker rates have climbed to $150,000 per day Liquefied natural gas (LNG) spot tanker rates have climbed to $150,000 per day this month as growing import needs from consumers in Asia and South America reduce numbers of available vessels, brokers said."The LNG freight market is currently quite strong due to increasing LNG demand in both Europe and Asia and less availability of prompt available tonnage," LNG shipping analyst Pranay Shukla at Drewry Shipping Consultants said."Short-term freight rates in December 2011 averaged at $125,000/day, up from $68,000/day averaged in December 2010," he said in a note via email."There are reports that short-term freight rates have strengthened further over the December figures, with vessels now fixed in the range of $150-155,000/day," he added.Norwegian shipper Stena Bulk extended the leasehold on its two 2011-built Stena Clear Sky and Stena Crystal Sky tankers for a further four years, securing a rate of $140,000/day, Drewry said.The past two years of rising demand for LNG shipments have boosted tanker earnings by more than five times compared with the rate in mid-2010 and are expected to remain strong throughout this year, shipping brokers said.While charterers may find some shelter from sky-high rates in ...