World News
Star Bulk Orders Four Fuel-Saving Ships
Greek shipping company Star Bulk Carriers Corp. [NASDAQ:SBLK] (Star Bulk) says it has ordered four fuel-efficient vessels for a total of about $151 million.
The company ordered two 180,000 dead weight tonne (dwt) Capesize drybulk vessels from Shanghai Waigaoqiao Shipbuilding Co. Ltd. with delivery scheduled for Q4 2015 and Q1 2016.
The company also ordered two 60,000 dwt Ultramax drybulk vessels from a Japanese shipyard, with delivery scheduled within 2015.
Star Bulk also said that STX Pan Ocean Co. Ltd. (STX) has terminated its charter agreement for the vessel Star Borealis.
The company said STX, which is in bankruptcy proceedings, owes it about $653,000, money that it "intends to vigorously pursue."
In addition Star Bulk noted new charter agreements with "major international companies" for two of its Supramax ships: one for a year at a gross daily time charter rate of $9,400 and the other for three to five months at a gross daily time charter rate of $10,750.
Some in the shipping industry, including the chairman of the International Chamber of Shipping (ICS) have warned that shipowners seeking to take advantage of low prices from shipbuilders, may be ordering too much tonnage for the industry, potentially keeping shipping rates from rising.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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