Friday, 10 June 2016 13:35

Market Report - June 10, 2016

The Baltic's Capesize Index swept above 1,000 points for the first time in a month on Friday, led by gains in the Pacific as strong demand for vessels to ship iron ore from Australia continued. Iron ore exports from Port Hedland in western Australia rose 4% to 39.4m tonnes in May versus a year earlier. Shipments to China, its main destination, fell 0.1% to 31.66m tonnes, while higher volumes were sent to Korea and Japan.

 

  Capesize    

   Panamax        

  Supramax 

Index 

        1006

      543

        557

One week ago

         913

      550

        574

Spot time charter     

 $   7,250/day     

 $ 4,300/day 

$  5,800/day 

One week ago  

 $   6,750/day

 $ 4,400/day 

$  6,000/day

Friday, 03 June 2016 11:55

Market Report - June 3, 2016

 

 

  Capesize    

   Panamax        

  Supramax 

Index 

         913

      550

        574

One week ago

         830

      582

        579

Spot time charter     

 $   6,750/day     

 $ 4,400/day 

$  6,000day 

One week ago  

 $   6,400/day

 $ 4,650/day 

$  6,000/day

 

 

Friday, 27 May 2016 16:25

Market Report - May 27, 2016

The cooling off trend continued in the capesize market this week, with the Baltic Index dropping 40 points. The average weighted time charter rate also declined to $6,346 per day from $6,981 on May 20.

 

  Capesize    

   Panamax        

  Supramax 

Index 

         830

      582

        579

Two weeks ago

         870

      614

        562

Spot time charter     

 $   6,400/day     

 $ 4,650/day 

$  6,000day 

Two weeks ago  

 $   7,000/day

 $ 4,900/day 

$  5,850/day

 

 

Friday, 20 May 2016 13:45

Market Report - May 20, 2016

 

 

  Capesize    

   Panamax        

  Supramax 

Index 

         870

      614

        562

Two weeks ago

         798

      597

        553

Spot time charter     

 $   7,000/day     

 $ 4,900/day 

$  5,850/day 

Two weeks ago  

 $   6,300/day

 $ 4,750/day 

$  5,800/day

 

 

Friday, 13 May 2016 12:18

Market Report - May 13, 2016

The Baltic Dry Index (BDI) declined week-over-week, with Capesize earnings off 22 percent to $6.6K/day and Panamax earnings down 8 percent to $6.2 K/day. However, this is expected to improve as capesize chartering activity was up 17 percent week-over-week last week and up 14 percent year-over-year: 64 percent will carry iron ore (vs. 76 percent the previous week) and 33 percent will carry coal (vs. 10 percent the previous week).

 

  Capesize    

   Panamax        

  Supramax 

Index 

         798

      597

        553

Two weeks ago

         892

      591

        578

Spot time charter     

 $   6,300/day     

 $ 4,750/day 

$  5,800/day 

Two weeks ago  

 $   7,025/day

 $ 4,725/day 

$  6,050/day

 

 

Friday, 06 May 2016 14:23

Market Report - May 6, 2016

Capesize rates have been slashed by around 20% over the past week due to a decline in activity due to the Golden Week in Japan and public holidays in many parts of the world.

 

  Capesize    

   Panamax        

  Supramax 

Index 

          892

      591

        578

Two weeks ago

        1137

      685

        578

Spot time charter     

 $   7,025/day     

 $ 4,725/day 

$  6,050/day 

Two weeks ago  

 $   9,000/day

 $ 5,500/day 

$  5,990/day

 

Friday, 29 April 2016 14:05

Market Report - April 29, 2016

 

 

  Capesize    

   Panamax        

  Supramax 

Index 

        1137

      685

        578

Two weeks ago

        1085

      736

        558

Spot time charter     

 $   9,000/day     

 $ 5,500/day 

$  5,990/day 

Two weeks ago  

 $   7,600/day

 $ 5,900/day 

$  5,7500/day

Containers: After three straight weeks of decline, the spot rate for shipping a 40-foot-equivalent unit container from Shanghai to the West Coast shot up 18 percent this week. According to the Shanghai Containerized Freight Index the spot rate to the West Coast this week was $857 per FEU, up from $725 last week. The spot rate to the East Coast was $1,694 per FEU, up from $1,599 last week.

Friday, 22 April 2016 14:03

Market Report - April 22, 2016

The Baltic Capesize Index remained strong through the week, settling at 1,085 points on Friday versus 949 points on April 15. The average weighted time charter rate climbed 16% to $8,216 per day, the highest level since early December.

 

  Capesize    

   Panamax        

  Supramax 

Index 

        1085

      736

        558

Two weeks ago

         949

      727

        525

Spot time charter     

 $   7,600/day     

 $ 5,900/day 

$  5,750/day 

Two weeks ago  

 $   7,075/day

 $ 5,800/day 

$  5,1500/day

Friday, 15 April 2016 13:57

Market Report - April 15, 2016

Since hitting rock bottom at 290 in mid-February, the BDI has risen 93% to 560.  Drewry reports that this recent rise in performance has been driven by panamaxes first, as the ECSA grain export season got underway.  February is usually the worst month of each year, and perhaps, with more demolition and layups, will again be the low point in earnings for this year.  Global steel production remains very weak, including China, but has recently started to improve.  Australian iron ore exports to Asian customers remain strong while a considerable portion of rising Brazilian exports have been channeled through Vale’s Malaysian blending terminal.  Q1 cargo demand was very depressed, and led to the record low BDI.  Q2 cargo demand is improving in all sizes, partially driven by a strong ECSA grain season.  Somewhat improved global steel raw material demand in Q2 will also help, but nothing exciting.  The fleet is growing, even with very high demolition.  Idle ships have artificially reduced fleet supply, especially in capesize sector.

 

  Capesize    

   Panamax        

  Supramax 

Index 

         949

      727

        525

Two weeks ago

         562

      627

        485

Spot time charter     

 $   7,075/day     

 $ 5,800/day 

$  5,500/day 

Two weeks ago  

 $   4,500/day

 $ 5,000/day 

$  5,100/day

 

Friday, 08 April 2016 12:57

Market Report - April 8, 2016

The Baltic Dry Index is up 62 percent from its record-low reading of 290 on Feb. 11, and just two points below its year-high of 473 on Jan. 4. There has been a significant rise in Capesize rates due to higher steel demand and China restocking iron ore stockpiles.

 

  Capesize    

   Panamax        

  Supramax 

Index 

         562

      627

        485

Two weeks ago

         345

      535

        476

Spot time charter     

 $   4,500/day     

 $ 5,000/day 

$  5,100/day 

Two weeks ago  

 $   3,000/day

 $ 4,275/day 

$  4,980/day

In case you hadn't guessed, shipping consultants Drewery's outlook for the container sector is not positive. Container ships will continue to struggle as with 66 cancelled sailings in February, rates still did not improve or appear to reduce overcapacity.  Radical capacity management decisions are likely to occur on specific trade routes.

Friday, 01 April 2016 10:16

Market Report - April 1, 2016

While the BDI has improved over the last two weeks analyst remain bearish on the short term outlook.  The overall index has gained about 55 percent since touching its lowest of 290 points on Feb. 10.  Capesizes have benefitted from the decision of Chinese steel makers to increase steel production - iron ore account for about a third of seaborne volumes on the larger capesizes, and pricing remains a key factor for dry freight.

 

  Capesize    

   Panamax        

  Supramax 

Index 

         345

      535

        476

Two weeks ago

         197

      463

        449

Spot time charter     

 $   3,000/day     

 $ 4,275/day 

$  4,980/day 

Two weeks ago  

 $   2,040/day

 $ 3,720/day 

$  4,700/day

 

Friday, 18 March 2016 12:51

Market Report - March 18, 2016

The Baltic Dry Index (BDI) ended its one-month rally on Wednesday when it slid one point to close at 393. On Thursday, the index fell another point and continued its drop today - which should not surprise many as China's Containerized Freight Index plunged to record lows. The announcement by the National People’s Congress in China regarding the economic stimulus appears to have caused the recent rally with iron ore prices contributing to the BDI’s rebound. 

 

  Capesize    

   Panamax        

  Supramax 

Index 

         197

      463

        449

Last week

         176

      477

        420

Spot time charter     

 $   2,040/day     

 $ 3,720/day 

$  4,700/day 

Last week

 $   2,170/day

 $ 3,825/day 

$  4,390/day

Today the Journal of Commerce reported that the global idle container ship fleet has soared to an all-time high, with rising numbers of larger ships unemployed, driven by a widening demand-supply gap.  There were 352 unemployed ships of more than 500 20-foot-equivalent unit capacity at the beginning of March, a combined capacity of 1.57 million TEUs, up from 346 vessels of 1.43 million TEUs two weeks earlier.  While this exceeds the previous peak of 1.52 million TEUs at the end of 2009, it represents just 7.8 percent of the total fleet, compared with a record 11.7 percent five years ago, as the fleet has since grown from 13 million TEUs to 20 million TEUs.

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