Thursday, November 26, 2009



Events that occurred this week confirmed our assessment in our last report that a market correction was on the books in the Atl as activity reduced quite dramatically from last Friday. The gap between owners and charterers became too wide and uncertainty started to creep slowly in: owners had to let go some steam. Nevertheless the market remains firm to stable. Rates back to FEast between usd 35-4...
The Pmax market kept stable from last week, with healthy numbers on all trades. BPI only fell USD 1000, with little shred of evidence in the physical market. Still a good flow of fresh cargoes in the Atlantic market emphasized the USD 37-38000 market throughout the week. Fronthauls declined only USD 2000, to arnd USD 44500. It was still sustainability in the Pac market, with rounds fixing more or ...
After rapid increases in rates over the past weeks, rates have been steady down in both basins so far this week. However, despite the Baltic dropping USD 2000 to 3000 daily in average, market levels are still much higher than expected. An Australia to China round is around USD 18 pmt. Rio Tinto rumoured having booked four ships today and the activity is healthy, despite a drop in rates from USD 25-26 level at the peak last week. Front haul is down at around USD 90,000/day on TC and low 40 on voy...


Hundreds of Antarctic Icebergs Head for New Zealand

Posted: November 24, 2009

In this Nov. 5, 2009, photo provided by the Australian Antarctic Division, a large iceberg spotted off Macquarie Island, about 1,500 kilometers (930 miles) southeast of Australia, mid-way between Antarctica and Australia. It is a rare sight in waters so far north, Australian scientists said Thursday, Nov. 12, 2009.
(A large iceberg spotted off Macquarie Island, about 1,500 kilometers (930 miles) southeast of Australia)

Click here to find out more!

Associated Press logo

Associated Press Writer

A flotilla of hundreds of icebergs that split off Antarctic ice shelves is drifting toward New Zealand and could pose a risk to ships in the south Pacific Ocean, officials said Tuesday.

The nearest one, measuring about 30 yards (meters) tall, was 160 miles (260 kilometers) southeast of New Zealand's Stewart Island, Australian glaciologist Neal Young said. He couldn't say how many icebergs in total were roaming the Pacific, but he counted 130 in one satellite image alone and 100 in another.

In the current case, a cold snap around southern New Zealand and favorable ocean currents conspired to push the towering visitors, which have drifted around Antarctica for the past nine years, to the region intact.


Thursday, November 19, 2009


Claims data from the International Group for bunker oil pollution incdents with a value above 100K USD recorded 595 incidents for vessels entered with the IG- of this only eight Incidents have been reported where the total cost of claims for pollution damage arising from a spill from the ship s bunker oil exceeded the 1996 LLMC Protocol limits. In half of these incidents, the Protocol was in force at the time in the State in whose waters the incident occurred. The clubs Reported that in each of those cases the 1996 LLMC Protocol limits were exceeded by significant amounts. In Queensland - A $25 million settlement was reached which under LLMC would have been between $14.5 million and $17.5 million. With the number of claims exceeding the threshold levels set being just 1.3%- it seems unlikely that the limit will be raised anytime soon and consequently - Owners/ Ships Masters will continue to feel the heat.

Monday, November 16, 2009


24,000 dwt TWEENS FOR SALE


following tweendeckers for sale as follows:-

Built 12/1988 ISHIKAWAJIMA-HARIMA HI (JAP) abt 23853 DWT on Draft 10.03
Class: NV (, )
LOA 173.95m, Beam 27.6m, LBP 165m
1 x SULZER 6RTA62 BHP 15480 - Abt 17.8 knts on abt 43 mts / Abt 16.2 knts
on abt 35.8 mts / Abt 14.3 knts on abt 26.8 mts GT 18936 / NT 7808, Holds 6
/ Hatches 6 - () Decks 1 - Grain 33332, Bale 31870, TEU 965 Geared - Gantry
2 x 40mt, Cranes 1 x 25mt Non Cellular

EC Aus (EAU)
On t/c to Tasman Orient Line until April 2010 after which she can be

Built 2/1989 ISHIKAWAJIMA-HARIMA HI (JAP) abt 23853 DWT on Draft 10.03 mtrs,
Class: NV (, )
LOA 173.95m, Beam 27.6m, LBP 165m
1 x SULZER 6RTA62 BHP 15480 - Abt 17.8 knts on abt 43 mts / Abt 16.2 knts
on abt 35.8 mts / Abt 14.3 knts on abt 26.8 mts GT 18936 / NT 7808, Holds 6
/ Hatches 6 - () Decks 1 - Grain 33332, Bale 31870, TEU 965 Geared - Gantry
2 x 40mt, Cranes 1 x 25mt Non Cellular

Spot South America

Sunday, November 15, 2009


In the late 90´s MRM SA predicted the upsurge of low level piracy off Somalia. This was rejected or ignored by the bulk of the maritime community. The warning was repeated in 2002 and received a similarly unenthusiastic reception, as did it´s forecast about West Africa.

It will be appreciated that MRM SA - unlike, for example, the IMB who perform an excellent post-event reporting and data collection service - is a pro-active organisation anticipating challenges, and acting swiftly and decisively on behalf of major clients.

Now, as difficult times appear on the maritime horizon, MRM SA is ready to help our industry rise to and overcome it´s new challenges.

In addition, therefore, to it´s Anti-Piracy service, the company continues to offer Cargo Loss Control and Asset Recovery services, now supplemented by a Vessel Lay-Up service utilising it´s extensive experience gained during recoveries where both hot and cold lay-ups were often necessary.




Saturday, November 14, 2009

2010: Year of the Seafarer

The Council of the International Maritime Organization (IMO), meeting for its 102nd session in London (29 June to 3 July 2009), agreed that next year's theme for World Maritime Day will be "2010: Year of the Seafarer", endorsing a proposal from IMO Secretary-General Efthimios E. Mitropoulos.

The theme - to be celebrated throughout the year and also at a World Maritime Day parallel event in Argentina - was selected to give IMO and the international maritime community the opportunity to pay tribute to the world's seafarers for their unique contribution to society and in recognition of the risks they shoulder in the execution of their duties in an often hostile environment. In proposing it, Secretary-General Mitropoulos said that "the unique hazards confronting the 1.5 million seafarers of the world - including pirate attacks, unwarranted detention and abandonment - coupled with the predicted looming shortage of ships' officers, make it ever more incumbent to take immediate and effective action to forestall a situation from developing in which ships are not manned with sufficient skilled personnel".

The theme complements IMO's ongoing "Go to Sea!" campaign to attract new entrants to the shipping industry, which was launched in November 2008 in association with the International Labour Organization, the "Round Table" of shipping industry organizations and the International Transport Workers' Federation. It is also in line with the comprehensive review, initiated in 2006, of the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW) 1978 and its associated Code, updated texts of which are due to be considered by a Diplomatic Conference scheduled to be held in Manila, Philippines, in mid-2010. Once adopted, the proposed amendments to the STCW Convention and Code will provide the necessary global standards for the training and certification of seafarers to man technologically advanced ships, today and for some time to come.



Tony Gray - Friday 7 November 2008

MOMENTUM is building for private equity firms to expand their presence in the shipping industry and mop up cheap assets in the wake of weaker freight markets, particularly in dry bulk. Fortis head of transportation Gust Biesbroeck said the timing was “perfect” for private equity. AMA Capital Partners’ managing director Peter Shaerf said private equity was “still viable but comes with a lot of caveats”, especially the demand for higher returns. And PCP Capital Partners has disclosed it is working with Middle East investors who are eyeing opportunities in shipping. A strengthening of private equity interest in shipping comes at a time when the industry needs to exploit non-traditional sources of capital as bank debt finance is becoming scarcer as aresult of the turmoil in financial markets. PCP Capital Partners senior director Amanda Stavely told the Financial Times that the shipping market presented an opportunity for investors. “The dry bulk market has just fallen away massively,” she said. “For PCP, we feel there is a real opportunity. In that area, there will be a few key survivors who will do extremely well and that will add immense strategic benefit.” PCP Capital Partners arranged Sheikh Mansour Bin Zayed Al Nahyan’s recent acquisition of a 16% stake in Barclays, the UK bank. Mr Shaerf said shipping was “quite attractive” to private equity but firms have raised the return hurdles. Funds, which had been seeking returns of 15-20%, were now expecting a base return of 25%-30%, he told the Lloyd’s Shipping Economist Ship Finance & Investment Conference in London. Mr Shaerf also said the funds would require greater control, probably with a majority shareholding and major presence on the board, with an ability to influence strategy. “People who are used to running their own private companies are suddenly going to find a whole diffrent game once they engage private equity.” Barry Wingate, a director of HSBC Bank in the UK, said the reduction in ship prices meant that private equity would “focus on asset play rather than leveraging up cash-flows.” Fortis Nederland runs its own equity fund, which Mr Biesbroeck said not only broadened the bank’s product offering to clients but also represented an opportunity to benefit from the downturn in the shipping market. “Its high on our wish list to go into mezzanine positions and pure equity to increase yields,” he said. “The timing is perfect and it makes sense.”

As adapted from Lloyds List

Sale and Purchase Market Report for the Week Ending 13.11.2009



Sale and Purchase Market Report for the Week Ending 13.11.2009


As the dry bulk market continues its upward movement prices are also being

affected. Demand for older tonnage has risen and handymaxes like 'Ulcas'(42,244

dwt/Blt 85), 'World Trader I'(41,796 Dwt/Blt 86) and 'Marybelle'(42,569 dwt/Blt

87) have achieved very firm prices. In the wet market the modern MR's

'Gan-Venture'(46,600 Dwt/Blt 06) and 'Gan-Voyager'(Blt 07) have been sold for

Usd 53 M en bloc.


In the newbuilding sector according to reports three 36,000 dwt bulkers ex

South Korean shipyard Hyundai Mipo have been sold for Usd 30 Mill each. It came

also to light that an order for six 80,000 dwt bulkers has been placed at the

Chinese shipyard Yangfan for a total cost of Usd 240 M.


Demolition prices in the Indian sub-continent have improved with bulkers being

now sold at around Usd 300 per LDT and tankers between Usd 330 and Usd 345.


Name               Type   Dwt   Blt Price      Buyer


Iguana             Pmax   70,349 96 USD 23.75 M Undisclosed

Paschalis          Pmax   69,171 84 USD  7.40 M China

Sun Harvest        Pmax   64,714 82 USD  3.90 M China

Cape Courage       Pmax   63,770 82 USD  4.50 M Undisclosed

Marybelle          Hmax   42,569 87 USD 10.80 M Turkey

Sanko Rejoice      Bulk   42,529 94 USD 14.50 M Undisclosed

Sanko Rose         Bulk   42,529 95 USD 14.50 M Undisclosed

Sanko Reliance     Bulk   42,529 95 USD 14.50 M Undisclosed

Ulcas              Hmax   42,244 85 USD  8.50 M Undisclosed

World Trader I     Hmax   41,796 86 USD  8.90 M China

Seaboxer II        Hmax   41,525 83 USD  5.50 M Greece

Silver Sen         Hmax   41,454 82 USD  5.10 M HK

Scanda             Hmax   40,187 90 USD  8.90 M Undisclosed

Moon Sea           Hndy   38,313 84 USD  6.50 M Undisclosed

Broadgate          Hndy   35,287 84 USD  6.00 M Undisclosed

Nord Sincere       Hndy   28,050 08 USD 25.00 M China

Borkum             Bulk   18,355 94 USD  9.00 M Undisclosed


Marcatania      1687teu   23,150 94 USD  4.50 M Auction


Spring Canary     Roro     8,125 95 USD  5.00 M Undisclosed


Cape Balboa       Tank   164,000 02 USD 51.50 M USA

Maersk Privilege  Tank   105,483 03 USD 44.00 M Undisclosed

Gan-Voyager       Tank    46,600 07 USD 53.00 M Undisclosed en bloc

Gan-Venture       Tank    46,616 06 USD  ''         ''        ''

Sunny Falcon      Tank     6,174 90 USD  3.00 M Vietnam


Cape Conway       Twee    22,312 85 USD  4.45 M China




Madre              Bulk  7923/LDT   83   -             India

Al Waaliyu         Bulk  8250/LDT   77  USD 300.00/ton Pakistan

Minoan Hope        Bulk 10749/LDT   82  USD 310.00/ton Pakistan

Graceful Zhejiang  Bulk 17370/LDT   86  USD 298.00/ton Bangladesh

Islas Uno          Bulk             72  USD 175.00/ton Turkey

Lys                Cont             80  USD 280.00/ton India

Oel Excellence     Cont             85   -

Oel Enterprise     Cont             85   -

Pyrihios           Tank  6194/LDT   91  USD 345.00/ton Bangladesh

Keystone Texas     Tank 10532/LDT   81  USD 375.00/ton India (1000t fuel ROB)

Captain Gurbachan-

Singh Salari       Tank 13124/LDT   84   -             Bangladesh

                                                       'as is' Kakinada

Company Havildar-

Major Piru Singh   Tank             84  USD 292.20/ton Bangladesh

Halden             Tank             89  USD 332.00/ton Bangladesh



(All details given in good faith but without guarantee)


Vogt and Maguire Shipbroking Ltd/Varenco Pty Ltd







Version: 8.5.425 / Virus Database: 270.14.62/2499 - Release Date: 11/12/09 14:33:00

Wednesday, November 11, 2009


Surprised by the number of vessels at the Loyang Supply Base- including this exciting siesmic vessel

Tuesday, November 10, 2009


Name Type Dwt Blt Price Buyer
Kater Wave Pmax 70,359 89 Usd 11.50 M Greece
Mahakam Pmax 70,002 96 Usd 17.50 M Undisclosed
Bulk Navigator Hmax 53,000 06 Usd 27.00 M Undisclosed
Medi Trader Hmax 48,225 99 Usd 22.00 M China
Progress II Hmax 46,641 95 Usd 17.50 M Undisclosed
K. Gold Hmax 43,797 96 Usd 18.00 M Far East
Searider Hmax 41,503 84 Usd 5.50 M Undisclosed
Sur Hmax 28,234 85 Usd 6.00 M Turkey
New Success Hndy 21,990 84 Usd 4.50 M Undisclosed

Scio Star 1597teu 23,465 87 Usd 2.70 M China
Leo One 1129teu 16,500 96 Usd 6.00 M Far East
Dubai World 1048teu 15,165 90 Usd 3.10 M Philippines
Marcommander 1033teu 14,271 83 Usd 2.70 M Turkey
Cma Cgm North Afri 856teu 12,816 85 Usd 1.50 M Undisclosed
Believer 510teu 6,560 92 Usd 1.50 M Undisclosed
K-Wind 518teu 5,538 99 Usd 4.00 M Undisclosed

Pacific Aquarius Afra 106,681 98 Usd 19.90 M Greece
Chemtrans Lyra Afra 97,047 93 Usd 12.00 M China
Frontier Express Pmax 68,520 93 Usd 5.00 M Undisclosed
Pacific Turquoise Tank 45,018 89 Usd 4.80 M Indonesia
Rainbow Tank 44,720 96 Usd 12.00 M Undisclosed
Chemstar Angel Tank 19,000 99 Usd 15.10 M China

Thor Sofia Tween 4,281 84 Usd 2.30 M Greece


Chang Le Bulk 3998/LDT 75 USD 265.00/ton China
Pine Trader Bulk 7777/LDT 79 USD 270.00/ton India (under tow)
Mert E Bulk 5700/LDT 78 USD 328.00/ton Bangladesh
Asean Mariner Bulk 4313/LDT 76 USD 280.00/ton India
Msc Ilaria Cont 10700/LDT 77 USD 280.00/ton India
California Luna Cont 14787/LDT 87 USD 285.00/ton India
Ever Goods Cont 18197/LDT 86 USD 281.00/ton China
Ever Guest Cont 18197/LDT 86 USD 281.00/ton China
Ever Gaining Cont 18197/LDT 87 USD 281.00/ton China
Howrah Bridge Cont 12665/LDT 85 USD 285.00/ton India
Frost Delphi Reef 3205/LDT 82 USD 285.00/ton India
Conti Progress Roro 6016/LDT 81 USD 315.00/ton India
Berjaya Blessin Tank 2198/LDT 83 USD 310.00/ton India
Rovena I Tank 5307/LDT 80 USD 307.00/ton Pakistan
Jo Loenn Tank 10777/LDT 82 USD 600.00/ton India
(incl 1508 stainless steel on board)
Lovell Sky Tank 8691/LDT 84 USD 327.00/ton Pakistan
Masan Tween4680/LDT 77 USD 265.00/ton China

(All details given in good faith but without guarantee)
Vogt and Maguire Shipbroking Ltd / VARENCO PTY LTD

Thursday, November 5, 2009


Alternative Energy

At present, vessels are propelled by diesel engines that burn fossil fuel. But to develop a sustainable society we must not only save energy but also use clean energy NYK are focusing on fuel cells as a promising clean-energy option. We are targeting the achievement of " zero emissions " by 2050 and have designed the concept ship NYK Super Eco Ship 2030 as a milestone for 2030 with MTI (our subsidiary technology institute), Elomatic (a marine consulting company in Finland)



It is a unique tool for fast 3D hull model inspection with fly trough, orbit and spinning visualization. The user can query the model for structural details like material, thickness, weights, size, logistics etc. One-click "filter" buttons can be used to detect anomalies in hull structural thickness, material and orientation. Advanced color and lighting features are available to create photo realistic images of the ship, which can be stored in postscript, bmp or pdf format for publication purposes.

Downloads the free Hull Viewer V5.3 here! the free Hull Viewer V5.2 here!



Wednesday, November 4, 2009

Rotterdam Rules Gain Momentum as 20th State Signs


- The United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea, known as the Rotterdam Rules, has received its 20th signature just one month after it first opened for signature. Niger became the 20th signatory to the Rotterdam Rules.

The signing ceremony for the Convention was held in Rotterdam, the Netherlands, on 23 September 2009. Sixteen States signed the Convention on the opening day, making it the most successful of the conventions developed by the United Nations Commission on International Trade Law (UNCITRAL) so far in terms of signatures obtained on opening day.

The States signing the Convention upon its opening for signature in Rotterdam were: Congo, Denmark, France, Gabon, Ghana, Greece, Guinea, the Netherlands, Nigeria, Norway, Poland, Senegal, Spain, Switzerland, Togo and the United States of America. Joining the initial 16 States in signing the Convention since were: Armenia, Cameroon, Madagascar and Niger. The 20 signatories represent a mix of developing and developed countries, including several major trading and maritime nations. Together, the 20 represent over 25 per cent of current world trade volume according to the United Nations 2008 International Merchandise Trade Statistics Yearbook. The Convention needs 20 ratifications to enter into force.


Tuesday, November 3, 2009