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Issue link: https://coal.epubxp.com/i/541310
freight rates in the last three decades. According to the world's largest ship own- er association, BIMCO, during the first four months of 2015, 52 Capesizes with a total deadweight tonnage (DWT) of around 8.7 million have been sold for demolition. BIMCO pointed out that with those numbers, the market is well on its way to break the 2012 record, where a total of 70 Capesize ships were scrapped. The demolition of Panamax ships has also been on the rise in 2015, and although the development is not quite on par with the Capesizes, it is still substantial. In 2015, as much as 2.6 million DWT has already been sold for demolition, equaling more than half of last year's total, when 4.8 million DWT was scrapped. Not all coal travels in Capesize or Panamax vessels. Not all ports have deep enough water or can justify large unload- ing facilities. For the smaller Handymax and Handysize vessels, demolition has also increased in 2015. For Handymax, a little more than 1 million DWT has been scrapped so far in 2015, 34% more than the same period last year. For Handysize, the numbers are 2.2 million DWT so far, up 79% from last year. BIMCO noted that, despite worsening freight market conditions, the demolition of dry bulk tonnage has not been adapting fully to this trend as could be expected, at least until now. During 2014, bulk carriers equaling 16 million DWT were sold for demolition, down from more than 23 mil- lion DWT in 2013. Scrap prices are under pressure from a general diminishing demand for steel in addition to cheap steel coming out of China. With low scrap prices, currently around $370 per LDT (light displacement ton), owners are more reluctant to let go of their ships despite being pressured from poor freight market conditions. However, data from the first four months of 2015 shows that more owners are scrapping their ships than ever before. Carrollton Gauge Vessels approaching the Southwest Pass Gulf Outlet will notice the normally blue Gulf waters are muddy brown farther out than usual due to high water on the Mississippi River. As of June 2, the Carrollton Gauge near New Orleans, Louisiana, had reached 12 ft and is predict- ed to remain above 12 ft. High water rates t r a n s p o r t t i p s c o n t i n u e d July 2015 www.coalage.com 21 View from the bridge of a Panamax — this is a so-called gearless vessel, meaning it has no deck cranes. Beneath each of the hatch covers is a 70-ft-deep cargo hold capable of holding about 10,000 metric tons of coal. Since it has no deck cranes or other equipment that may obstruct shore-based ship loaders, it can be docked and loaded most efficiently. Each of the hatch covers is parted in the middle and rolled toward the side of the ship. Delivery of Double Fortune, the first IS-NEXTER Post-Panamax bulk carrier. Meters Feet New Panamax Limit Length overall: 234.9 770'8" 366 meters Breadth (beam): 38 124"8" 49 meters Draft (tropical fresh water): 14.4 47'3" 15.2 meters Deadweight tonnage: 95,790 metric tons Vessel Particulars