Thursday, 16 July 2015 21:22

Market Report - July 17, 2015

A bit of waiting time is never a bad thing to help lift shipping rates.  Hence the current 40 coal loaders anchored off Newcastle, New South Wales is being seen by some as a welcome development, more especially since many are Capesizes. During 2014, a record 159m tons of coal. mostly thermal, but also some metallurgical, was exported through the port with a value of A$13.78bn (U.S.$10.3bn), most going to Japan (42%), China (22%), South Korea (17%) and Taiwan (10%). Newcastle thermal coal was valued at $60.30 per tonne on July 10, compared with about $74 a year ago but following an extended period of flat demand and depressed prices, buyers are now back in the market.

Perhaps with the above in mind, there was a spurt in Capesize interest this week with the Baltic Dry Index closing yesterday on 1009 points compared to 853 points last week and 794 points the week before.


  Cape Size    







Last week




Spot time charter     

 $ 12,700/day     

 $ 9,200/day 

$  8,600/day 

One week ago

 $  9,300/day

 $ 8,100/day 

$  7,900/day

Containers: Maersk Line announced this week that it will raise the freight rate from Far East Asia to Europe by $1,000 per TEU effective August 1. The Shanghai Containerized Freight Index was quoted a rate of only $699 per TEU last week so it remains to be seen whether such a significant increase can be made to stick. 

Read 1303 times Last modified on Thursday, 16 July 2015 21:29
Login to post comments