Friday, 29 May 2015 10:12

Market Report - May 29, 2015

The Baltic Dry Index failed to hold on to last week’s gains and closed yesterday on 588 points compared to 592 points last week and 637 points the week previously.

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       817

        525

     642

Last week

       844

        556

     624

Spot time charter     

$   5,600/day     

 $ 4,200/day 

$  6,700/day 

One week ago

$   5,700/day

 $ 4,400/day 

$  6,500/day

Containers: Rates on the world’s busiest container trade from Asia to Northern Europe were in free-fall last week, down by around  32% to only $444 per TEU. 

363 chart

Friday, 22 May 2015 00:19

Market Report - May 22, 2015

The Baltic Dry Index failed to hold on to last week’s gains and closed yesterday on 592 points compared to 637 points last week and 573 points the week previously.

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       844

        556

     624

Last week

       972

        580

     626

Spot time charter     

$   5,700/day     

 $ 4,400/day 

$  6,500/day 

One week ago

$   7,100/day

 $ 4,600/day 

$  6,500/day

Friday, 15 May 2015 10:30

Market Report -May 15, 2015

A record number of Capesizes were retired in the first four months of 2015 with 52 vessels being sent to make razor blades. It therefore seems likely that the 2012 record of 70 Capesizes being scrapped will be comfortably exceeded. One wonders whether this will finally have an impact given the improvement in Capesize rates over the past week which have finally dragged the market over the “600 point” line. The Baltic Dry Index closed yesterday on 637 points compared to 573 points last week and 519 points the week previously.

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       972

        580

     626

Last week

       594

        603

     618

Spot time charter     

$   7,100/day     

 $ 4,600/day 

$  6,500/day 

One week ago

$   4,600/day

 $ 4,800/day 

$  6,500/day



Friday, 08 May 2015 09:08

Market Report -May 8, 2015

The market is finding it hard to pick itself off the floor. The Baltic Dry Index closed yesterday on 573 points compared to 591 points last week and 599 points the week previously.

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       594

        603

     618

Last week

       565

        658

     625

Spot time charter     

$   4,600/day     

 $ 4,800/day 

$  6,500/day 

One week ago

$   4,500/day

 $ 5,200/day 

$  6,500/day

Containers:  The May 1 general rate increases(GRI) on the Asia-Europe trade have had little impact on sliding rates according to the Shanghai Containerized Freight Index (SCFI). Rates fell to $343 per TEU, nearly  70% lower than during the same week last year and despite ocean carriers trying to implement a $1,000 per TEU GRI. Spot rates on the Trans-Pacific rose by almost 12% to $1,783 per FEU but falling short of the market rate minimum of $2,050 per FEU through California ports and $2,100 per FEU through Pacific Northwest ports recommended by the Transpacific Stabilization Agreement (TSA).

Spot rates on the Asia-U.S. East Coast are steady at around $3,600 per FEU which is 8% better than during the same week last year. However, an estimated 18% increase incapacity from Asia to the U.S. East Coast and Gulf routes in Q1 may prove too much for rates to hold.  Looking ahead, TSA member lines have recommended a GRI for June 1 and July 1 of $600 per FEU in addition to a peak season surcharge of $400 per FEU in July for all cargo from Asia to U.S. destinations.



Thursday, 30 April 2015 23:51

Market Report -May 1, 2015

The market continues to tread water as the Baltic Dry Index closed yesterday on 591 points compared to 599 points last week and 593 points the week previously.

    Cape Size        Panamax            Supramax 
Index         565         658      625
Last week        543         680      621
Spot time charter      $   4,500/day       $ 5,200/day  $  6,500/day 
One week ago $   4,600/day  $ 5,400/day  $  6,500/day

Containers:  In a further move towards container industry consolidation, Hamburg Süd is deepening its level of cooperation with the Ocean Three Alliance in the east – west trade lanes. With this in mind, the Ocean Three grouping has already filed an amendment with the Federal Maritime Commission in Washington for plans for a new service from Asia to USEC via Panama that will include Hamburg Süd vessels. 

Thursday, 23 April 2015 16:07

Market Report - April 24, 2015

Over supply of vessels continues to hold back the market with the Baltic Dry Index closing yesterday on 599 points compared to 593 points last week and 580 points the week previously.

    Cape Size        Panamax            Supramax 
Index         543         680      621
Last week        521         636      612
Spot time charter      $   4,600/day       $ 5,400/day  $  6,500/day 
One week ago $   4,700/day  $ 5,100/day  $  6,400/day

 

 

Friday, 17 April 2015 08:54

Market Report - April 17, 2015

The Baltic Dry Index continues to bump along the bottom, closing yesterday on 593 points compared to 580 points last week and 588 points the week previously.

    Cape Size        Panamax            Supramax 
Index         521         636      612
Last week        461         591      617
Spot time charter      $   4,700/day       $ 5,100/day  $  6,400/day 
One week ago $   4,200/day  $ 4,700/day  $  6,400/day

Tankers:  Please see the latest outlook from Teekay presented by Christian Waldegrave https://www.youtube.com/watch?v=qwSRGy98eVc

 

Thursday, 09 April 2015 16:38

Market Report - April 10, 2015

The Baltic Dry Index remains stuck in low gear after closing yesterday on 580 points compared to 588 points last week and 598 points the week previously.

    Cape Size        Panamax            Supramax 
Index         461         591      617
Last week        455         602      648
Spot time charter      $   4,200/day       $ 4,700/day  $  6,400/day 
One week ago $   4,200/day  $ 4,700/day  $  6,600/day

Containers: The Transpacific Stabilization Agreement has recommended a series of new short-term rate minimums to come into force in May. These include a minimum rate of $2,050 per FEU for Asia-US west coast shipments via Californian ports; $2,100 per FEU via Pacific northwest ports; $4,100 per FEU for east coast and gulf coast ports; and $4,400 per FEU for intermodal moves to midwestern interior points. Rates from Europe are meanwhile in virtual freefall and are currently hovering around only $500 per TEU  the lowest for two years..

Tankers: There were 22 VLCCs or almost 5% of the world fleet, waiting to load cargoes at Iraq’s Basra Oil Terminal last week. These vessels are still pulling in a steady $50-60,000/day on the spot market thanks to fleet utilization rate of around 90%. 

Thursday, 02 April 2015 09:32

Market Report - April 2, 2015

No Easter Joy for the markets as one of the most miserable quarters ever for many ship owners trying to earn a living in the dry bulk sector mercifully comes to an end. The Baltic Dry Index closed yesterday on 588 points compared to 598 points last week and 584 points the week previously.

     Capesize       Panamax      Supramax 
Index          455         602         648
Last week         455         602         648
Spot time charter     $ 4,200/day       $ 4,700/day    $ 6,600/day
One week ago    $ 4,300/day   $ 4,700/day      $ 6,800/day  
Thursday, 26 March 2015 22:23

Market Report - March 27, 2015

The bulk market continues to bump along the bottom with very little to drive an improvement this side of a trading break for Easter. The Baltic Dry Index closed yesterday on 598 points compared to 584 points last week and 560 points the week previously.

    Cape Size        Panamax            Supramax 
Index         455         602      648
Last week        407         613      627
Spot time charter      $   4,300/day       $ 4,800/day  $  6,800/day 
One week ago $   4,100/day  $ 4,900/day  $  6,600/day

Containers: Asia-Europe spot rates continue to be in a downward spiral and are now in the low $600’s per TEU. In response, ocean carriers have optimistically announced a General Rate Increase for April 1 of up to $950 per TEU. Trans-Pacific spot rates are also under pressure falling to around $1,750 per FEU from Shanghai to the U.S. West Coast.

Tankers: VLCC spot earnings have hovered around the $50,000 per day mark on the Middle East to Asia trade for most of March thereby providing a degree of unusual market predictability in our business. Thanks to plenty of cargoes to support the supply side, limited fleet growth, and rising ton/miles as more shipments from OPEC countries are made to Asia, rather than to the U.S. things are looking good for a while to come.

Friday, 20 March 2015 00:07

Market Report - March 20, 2015

The best that can be said is that at least the markets went in the right direction this week but not by much. The Baltic Dry Index closed yesterday on 584 points compared to 560 points last week and 561 points the week previously.

    Cape Size        Panamax            Supramax 
Index         407         613      627
Last week        394         586      596
Spot time charter      $   4,100/day       $ 4,900/day  $  6,500/day 
One week ago $   4,800/day  $ 4,700/day  $  6,300/day



Thursday, 12 March 2015 17:16

Market Report - March 13, 2015

352 sad face

    Cape Size        Panamax            Supramax 
Index         394         586      596
Last week        464         583      560
Spot time charter      $   4,100/day       $ 4,700/day  $  6,300/day 
One week ago $   4,800/day  $ 4,700/day  $  5,900/day



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