Week 44 -Shipbrokers and consultants since 1919- Weekly Dry Bulk Report Week 22 HIGHLIGHTS Capesize: Firming rates throughout the week in both basins Panamax: Another week of firming rates in all sectors CAPESIZE May 30th Bulk on an EPS vessel. Front haul rates shot up from last weeks closing Index, SwissMarine were reported to have taken Sunrise (LDC relet) for a 5 -10 November Tubarao/ Qingdao trip at US$22.7. Rates saw another massive jump on Tuesday up to a high of US$26/ During an active Monday, both the paper market and physical market kicked on from last weeks positive gains. In the Pacific there was plenty of activity on the West Australia/ Qingdao route with firming rates throughout the week. US$/day BHP were particularly active 120,000 on Wednesday, taking as 100,000 many as six vessels for West 80,000 Australia/ Qingdao, in addition to fixing a 165 000 +/-10% 60,000 Haypoint/ Qingdao for end 40,000 November dates. The level 20,000 reported was US$11.90/mt. 0 1 Saldanha Bay/Qingdao was done at US$19/mt by Pacific 2014 mt for 10-20 November loading in Tubarao. Rates were maintained on Wednesday for November cancelling, however charterers bid for December onwards show a sharp fall with first half of December US$22.50. and second half at US$21.50. Capesize Timecharter Average (TCA) 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 5 Yr Low 5 Yr High 5 Yr Avg 2014 Ytd Pacific, coal shipments re- short period activity included a mained the driving force. A 74 vessel of 81 000 dwt from MusAnother week of firming rates 000 dwt ship was fixed at cat at US$10 500/day. The senin all sectors. In the Atlantic a US$14 000/day from Singapore timent remains bullish with a 83 000 dwt vessel was taken via Indonesia to India. Some likely further firming of rates. for coal trans-Atlantic round at Panamax Timecharter Average (TCA) US$/day US$10 750/day from Cape 50000 Passero. Short Baltic to Conti45000 40000 nent rates moved up with 83 35000 000 dwt vessel open in Luleaa 30000 25000 being paid US$11 850. Further 20000 south, a 74 000 dwt vessel 15000 10000 was taken from East Coast 5000 South America to the Far East 0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 at US$13 750/day + a ballast bonus of US$375 000. In the 5 year Low 5 year High 2014 ytd 5 year average PANAMAX L&S INDEX OF DRY BULK STOCKS* 105 95 85 75 65 55 45 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 Week in 2014 *Basket of stocks for L&S Index includes: Golden Ocean Group Ltd., Western Bulk ASA, Scorpio Bulkers Inc., Paragon Shipping Inc., Baltic Trading Ltd., Diana Shipping Inc., DryShips Inc., Safe Bulkers Inc., and Star Bulk Carriers Corp. 1 -Shipbrokers and consultants since 1919- SUPRAMAX/HANDY Handy/Supra: The Baltic indices were slightly down on last week On the Supra/Handy size we saw the market this week a little flat to the start. Towards mid week activity picked up on some routes, however the indices were slightly down on the week. In the Atlantic rates were relatively unchanged on last week. Inter Mediterranean and front haul routes out of the Black Sea were showing a slight upward trend. In the US Gulf front haul remained unchanged on the Supramax Timecharter Average (TCA) US$/day In the Pacific, North Pacific round trips on the Supra sizes were starting to go from an APS market to a DOP market with quite a few stems coming open. Indonesia/India coal runs remained pretty much unchanged. 45000 40000 35000 30000 25000 20000 15000 10000 5000 0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 5 year Low The Baltic Exchange Dry Index Weekly Baltic Average BCI Weekly Baltic Average BPI Weekly Baltic Average BSI Weekly Baltic Average BHI Weekly BDI Average FFA Calendar 15 BCI Calendar 15 BPI Calendar 15 BSI Bunker Prices Rotterdam IFO 380 Rotterdam MGO Singapore IFO 380 Singapore MGO week, but we are seeing more November stems coming up. As we head into November a pick up is expected to come. East Coast South America remained flat on the week. 5 year High 2014 ytd Week 5 year average Last Week This Week 12,657 22,483 8,393 9,476 9,517 9,370 7,254 7,004 1089 1383 Trend Firming Firming Softening Softening Firming (US$/day) (US$/day) (US$/day) Last Week This Week 17,017 17,423 9,220 9,427 9,739 9,759 Trend Firming Firming Firming (US$/mt) (US$/mt) (US$/mt) (US$/mt) Last Week This Week 459 457 733 727 481 478 735 742 Trend Softening Softening Softening Firming (US$/day) (US$/day) (US$/day) (US$/day) 2 -Shipbrokers and consultants since 1919- BCI FFA US$/day BCI-TCA US$/day 28000 45000 40000 35000 30000 25000 20000 15000 10000 5000 0 26000 24000 22000 20000 18000 16000 14000 12000 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 Cal 15 5 TC 1 Week 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 2012 Cal 15 4 TC 14000 13000 12000 11000 10000 9000 8000 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 Week 2012 Cal 15 US$/day Week 2014 18000 16000 14000 12000 10000 8000 6000 4000 2000 0 15000 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 2013 BPI-TCA US$/day BPI FFA US$/day 4 BSI FFA US$/day 2013 2014 ytd Week BSI-TCA 18000 15000 14000 16000 13000 14000 12000 12000 11000 10000 10000 8000 9000 6000 8000 1 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 Cal 15 4 Week 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 2012 2014 ytd BHI-TCA US$/day 13000 12000 11000 10000 9000 8000 7000 6000 5000 4000 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 Week 2012 3 2013 Week 2013 2014 ytd -Shipbrokers and consultants since 1919- Iron Ore As a result of temporary shutdowns of Chinese steel mills to curb pollution during the APC (Asia– Pacific Economic Cooperation) meeting in Beijing next month, iron ore futures fell for the second session this Tuesday. At the end of the latest session, benchmark iron ore for im- the expected seasonal remediate delivery to China stocking. dropped 1 per cent from US$ 78.80 to 79.60. The steel production cuts are expected to last for two to three weeks. This will reduce the demand for iron ore on a short time basis and lower of Coal Coal: Ukrainian coal mining down 49 per cent in September Ukraine's coal extraction volumes fell by 13.2 per cent January to September. In September alone, Ukrainian coal mining was down 49 per cent. Due to fighting between the government and pro Russian separatists half of the countries coal mines have been shut down. Since coal is Ukraine's key energy source they are facing difficulties with coal supply this year. They now need to import coal from other destinations, and received the first thermal coal cargo from South Africa last week. The Ministry of Environment and urban affairs in Turkey has received an application to build a 1.96 GW plant burning imported coal on the southern shore of the Sea of Marmara. A public consultation meeting will be held on November 18. The plant will consist of two 980 MW units which will burn 5.6 million mt/year when operating at full capacity. A deep water discharge facility will be built, capable of receiving bulk carriers og up to 120-150 000 dwt. Suggested coal import sources are Russia, South America, South Africa and Australia. Grain Grain: US wheat export up 49 per cent w- o- w The corn export licenses issued by the Government in Argentine have reached 14.644 million mt since the beginning of the 2014-15 marketing year. This is an increase of 114 per cent y-oy. 4 Speculations that dry and cold weather in Russia will damage the crop for harvesting next year caused wheat prices to rise for the fourth day running. December delivery wheat rose 1.2 per cent to US$ 5.445 a bushel on the Chicago board. Corn for delivery in December rose 1.1 per cent to US$ 3.7925 a bushel. Wheat export from the US was up 49 per cent week on week, with the most important export destinations beeing Japan, Mexico and Brazil. Exports for the 13/14 marketing year totaled 30.113 million mt, up 14 per cent from the previous year. -Shipbrokers and consultants since 1919- Office Oslo Address Lorentzen & Stemoco AS Munkedamsveien 45, 0250 Oslo P.O. Box 2029 Vika, 0125 Oslo Norway +47 2252 7700 Athens Lorentzen & Stemoco (Athens) Ltd Leof. Karamanli 25 Voula 166 73 Athens, Greece +30 210 89 000 59 Singapore Lorentzen & Stemoco Singapore Pte Ltd. 8 Eu Tong Sen Street, #21-98 Office 1 The Central 059818 Singapore +65 6349 8400 Shanghai Lorentzen & Stemoco Shanghai Representative Office Room 2701, Shanghai Central Plaza 381 Huai Hai Zhong Road, 200020 Shanghai China +86 21 6391 5880 New York Lorentzen & Stemoco AS (New York City) 8 East 41st St 8th Floor New York, NY 10017 United States of America +1(212) 684 2503 5
© Copyright 2024