Friday, 14 November 2014 09:57

Market Report - November 14, 2014

The shine came off Capesizes this week resulting in the Baltic Dry Index closing on Thursday on 1264 points compared to 1436 points last week and 1424 points the week previously. 

       
    Cape Size        Panamax            Supramax 
Index       2972       1112      873
Last week      3612       1205      886
Spot time charter      $  21,200/day       $ 8,900/day  $   9,100/day 
One week ago $  26,500/day  $ 9,600/day  $   9,300/day



 

Friday, 07 November 2014 09:33

Market Report - November 7, 2014

The Baltic Dry Index managed to consolidate last week’s gains to close on Thursday on 1436 points compared to 1424 points last week and 1155 points the week previously. 

       
    Cape Size        Panamax            Supramax 
Index       3612       1205      886
Last week      3543       1222      891
Spot time charter      $  26,500/day       $ 9,600/day  $   9,300/day 
One week ago $  25,600/day  $ 9,800/day  $   9,300/day

Members of the Transpacific Stabilization Agreement are planning to increase low-sulphur charges for westbound trades from January 1 when the new ECA standards kick in by recommending a charge of $47 per FEU and $38 per TEU from the US West Coast, and $95 per FU and $76 per YEU from the East and Gulf Coasts. 

Friday, 31 October 2014 08:48

Market Report - October 31, 2014

Having forced down the prices of iron ore and coal, China is again buying and Capesizes are in lift off mode as there is no stopping the market at the top end. The Baltic Dry Index closed on Thursday on 1424 points compared to 1155 points last week and 963 points the week previously. 

       
    Cape Size        Panamax            Supramax 
Index       3543       1222      891
Last week      2258       1099      906
Spot time charter      $  25,600/day       $ 9,800/day  $   9,300/day 
One week ago $  16,400/day  $ 8,800/day  $   9,500/day

Tankers: On the back of heavy Chinese buying to take advantage of the current low price of oil, VLCCs spot rates to Asia this week climbed by around  $9,000/day to the $45-50,000/day range – a major improvement on the rates at the beginning of October. China’s oil demand in September was 42.3m tons, or an average of 10.3m barrels per day — up 7.4% from the same month a year ago, according to Platts.

335 Tankers

Thursday, 23 October 2014 12:50

Market Report - October 24, 2014

The Baltic Dry Index gained a shot in the arm from a sudden spurt in Capesize rates this week to close on Thursday on 1155 points compared to 963 points last week and 974 points the week previously. 

       
    Cape Size        Panamax            Supramax 
Index       2258       1099      906
Last week      1544        865      970
Spot time charter      $  16,405/day       $ 8,801/day  $   9,471/day 
One week ago $  10,300/day  $ 6,900/day  $ 10,100/day

Containers: The Transpacific Stabilization Agreement is to raise rates between mid-November and early December on account of “congested US port terminals, harbour and over-the-road truck driver shortages, slower trains and longer rail terminal dwell times”.   Increases of $100 per FEU  and $90 per TEU are to take effect on or around November 15but by no later than December 1. The organizationhas also announced its recommended low sulphur fuel surcharge effective January 1 2015 of $67 per FEU to the US east coast and $53 per FEU to the west coast. Charges per TEU will be assessed at 90% of the FEU levels.

Thursday, 16 October 2014 23:03

Market Report - October 17, 2014

Still on life-support, the Baltic Dry Index closed on Thursday on 963 points compared to 974 points last week and 1041 points the week previously. 

       
    Cape Size        Panamax            Supramax 
Index       1544        865      970
Last week      1580        8645      980
Spot time charter      $  10,300/day       $ 6,900/day  $ 10,100/day 
One week ago $  10,500/day  $ 6,900/day  $ 10,300/day

Bunkers: Oil prices are at their lowest in about 22 months due in part to large U.S. stockpiles. Oil futures have largely collapsed as shale supplies boost U.S. output to the highest level in almost 30 years at a time of weakening global demand. OPEC’s response has been to cut prices in an effort to preserve market share but the group is not scheduled to meet to discuss a coordinated strategy until November 27 in Vienna.

Containers: The world’s container fleet continues to grow in both capacity and number of ships. In November there were an additional 12 ships in the fleet, equating to an additional 82,000 TEU of capacity. This took the world’s container fleet to 5,035 vessels comprising a total of 17.8m TEU.

Thursday, 09 October 2014 21:18

Market Report - October 10, 2014

The Baltic Dry Index has again dipped below its benchmark 1000 points, closing on Thursday on 974 points compared to 1041 points last week and 1038 points the week previously. Last week’s holiday in China for National Day celebrations seems to have done shipping markets no favors at all.

       
    Cape Size        Panamax            Supramax 
Index       1580        864      980
Last week      1788        878     1033
Spot time charter      $  10,500/day       $ 6,900/day  $ 10,300/day 
One week ago $  12,200/day  $ 7,000/day  $ 10,800/day

Containers:  The US Federal Maritime Commission (FMC) this week announced approval of the 2M Alliance between Maersk Line and Mediterranean Shipping Co. The US was the only jurisdiction in which the new alliance was required to gain formal regulatory approval, however in order to pacify shippers, the FMC is to impose reporting requirements on the two carriers in order to monitor the implementation of the agreement.

Friday, 03 October 2014 09:23

Market Report - October 3, 2014

The Baltic Dry Index remains completely directionless closing on Thursday on 1041 points compared to 1038 points last week and 1089 points the week previously.

       
    Cape Size        Panamax            Supramax 
Index       1788        878     1033
Last week      1837        799     1046
Spot time charter      $  12,200/day       $ 7,000/day  $ 10,800/day 
One week ago $  12,600/day  $ 6,400/day  $ 10,900/day

 

 

Friday, 26 September 2014 09:45

Market Report - September 26, 2014

Market sentiment remains weak as despite record levels of global trade, there are just too many ships chasing it. The Baltic Dry Index closed on Thursday on 1038 points compared to 1089 points last week and 1186 points the week previously.

       
    Cape Size        Panamax            Supramax 
Index       1837        799     1046
Last week      2192        819     1030
Spot time charter      $  12,600/day       $ 6,400/day  $ 10,900/day 
One week ago $  14,900/day  $ 6,600/day  $ 10,800/day

 

 

Thursday, 18 September 2014 18:02

Market Report - September 19, 2014

Sentiment remains weak for Capes and Panamaxes. The Baltic Dry Index closed on Thursday on 1089 points compared to 1186 points last week and 1147 points the week previously.

       
    Cape Size        Panamax            Supramax 
Index       2192        819     1030
Last week      2570        895     1000
Spot time charter      $  14,900/day       $ 6,600/day  $ 10,800/day 
One week ago $  18,300/day  $ 7,200/day  $ 10,500/day

 

 

Friday, 12 September 2014 09:47

Market Report - September 12, 2014

Things are still pretty much steady as she goes with, the Baltic Dry Index closing on Thursday on 1186 points compared to 1147 points last week.

       
    Cape Size        Panamax            Supramax 
Index       2570        895     1000
Last week      2464        927       993
Spot time charter      $  18,300/day       $ 7,200/day  $ 10,500/day 
One week ago $  18,000/day  $ 6,900/day  $ 10,000/day

 

 

Friday, 05 September 2014 09:38

Market Report - September 5, 2014

Following a few weeks of mild improvement, the Baltic Dry Index closed on Thursday on 1147 points.

       
    Cape Size      Panamax            Supramax 
Index       2464      927       993
Last week      2627      871       970
Spot time charter      $  18,000/day      $ 6,900/day  $ 10,000/day 
One week ago $  17,980/day $ 6,941/day  $ 10,140/day

Containers:  In the latest market report from Drewry, the world’s container ports are forecast to handle more than 840 million TEU a year by 2018. This represents quite a jump from the 642 million TEU handled in 2013 and the 674m TEU forecast for this year. The report forecasts that Africa and China are the regions that will see the most rapid growth. Overall , growth rates are expected to average an annual 5.6% in the five years to 2018, compared with 3.4% in 2013. This would translate to an increase of terminal utilization from 67% today to 75% in 2018.

Tankers: Clearly banking on a tough winter ahead, VLCC charter contracts are trading at $30,000 per day in the forward market for the 4th quarter 2014 and 1st quarter 2015 loading dates, This provides hope to lift the sector out of continuing misery with the benchmark Middle East Gulf to Asia trade today standing at around $13,500 per day.

Friday, 29 August 2014 10:30

Market Report - August 29, 2014

As summer vacations come to a close, the prospects for the fall look promising as the indices continue to trend upwards.

       
    Cape Size      Panamax            Supramax 
Index       2627      871       970
Last week      2535      812       937
Spot time charter      $  17,980/day      $ 6,941/day  $ 10,140/day 
One week ago $  17,066/day $ 6,467/day  $ 9,797/day

 

 326 BDI

Page 9 of 11