World News
Bulker Firm Orders up to 18 Ships
Private-equity backed Interlink Maritime (Interlink) could increase its fleet sixfold by 2017 with up to 18 new fuel-efficient bulk carriers from Chinese shipyards, industry news site TradeWinds reports.
The company has ordered five 39,000 deadweight tonne (dwt) vessels for $24 million each from China's Zhejiang Zengzhou Shipbuilding, and the deal includes options for five more.
In addition, Interlink has exercised five options for 38,500 dwt bulkers from Taizhou Kouan Shipbuilding, bringing it to 15 ships ordered from that yard.
Last, it has added three vessels at Huatai Heavy Industry, bringing it to eight ships now under construction there.
Interlink now has five handysize ships now in use by companies including Western Bulk, Ultrabulk, and BoConti.
U.S.-based private equity firm the Carlyle Group has a stake of undisclosed size in the company.
Private equity firms have taken a growing role in the shipping industry over the past year, fuelling worries about overcapacity.
Carl-Johan Hagman, CEO of Shipping, Ferries, and Drilling for Swedish carrier Stena, said in June that private equity orders have left the market "fundamentally damaged."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 648.00 | 2.00 | 808.00 | 10.00 |
| Rotterdam | 613.50 | 4.50 | 792.00 | 21.50 |
| Houston | 646.00 | 3.00 | 851.00 | 13.50 |
| Fujairah | 647.50 | 1.50 | 900.00 | 0.50 |
| Global 20 Ports Average | 672.50 | 0.50 | 896.50 | 0.50 |
| Global 4 Ports Average | 638.50 | 2.00 | 838.00 | 4.00 |
| Global Average Bunker Price | 727.00 | 2.00 | 943.00 | 2.00 |
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