Week 45
-Shipbrokers and consultants since 1919-
Weekly Dry Bulk Report
Week 22
HIGHLIGHTS
Capesize: Calming
market throughout
the week
Panamax: Firming
market in the Atlantic
throughout the week
CAPESIZE
Owners still in a bullish mood
after last week’s gains, although charterers were trying
to slow the momentum. In
West Australia only RTS was in
the market on Monday looking
for mid-November dates. They
were rating US$9.25/mt while
owners were rating over
US$10/mt. Market was calming
throughout the week with miners still looking for tonnage for
second half November, but not
as aggressively as last week.
Owners were still trying to get
double digits for the West Aus-
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 45
Week in 2014
Quiet start to the week in the
Panamax market with limited
fresh enquiries, some charterers with cargo from last week
were hoping for the market to
soften. The week continued
with a quiet Wednesday resulting in the first negative Index for a while. Fixtures were
however done at decent levels,
cargoes from Australia to Japan
were fixed at US$14 500/day.
In the Atlantic, East Coast
South America rates started the
week firmly above 14 000/day
+ 400 000 ballast bonus. Mid-
May 30th
tralia- China route. Saldahna
Bay to Qingdao has been more
active, AAML took three Capes
on Tuesday, estimated time of
arrival 13- 14 Nov at US$9.50/
mt. In the Atlantic, major oper-
2014
ators were in the market for 110 Dec, bidding US$22-23/mt
from Brazil to China, owners
were more optimistic quoting
US$26/mt.
Capesize Timecharter Average (TCA)
US$/day
120,000
100,000
80,000
60,000
40,000
20,000
0
1
4
7
10 13 16 19 22 25 28 31 34 37 40 43 46 49 52
5 Yr Low
5 Yr High
week market was performing
well with levels in East Coast
South America reaching up to
US$15 250/day + US$525 000
ballast bonus for end November/ early December loading.
5 Yr Avg
2014 Ytd
The period market has sustained its levels with owners
still offering tonnage for 1 year
at between US$10 500- 11 000/
day depending on vessel in
question.
Panamax Timecharter Average (TCA)
US$/day
50000
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
5 year High
2014 ytd
5 year average
*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-
most operators preferring to previous week and showing
hold off on period requirements some signs of slight improveA relatively quiet week in the for the time being.
ment towards the end. However
Handy/Supramax sizes. In the
both indices on the Handy/Supra
Pacific basin we saw a slow start The Atlantic basin also was a overall were down on the previto the week, picking up a little little quiet on the Supramax seg- ous week.
towards the end with most ments. Handysize routes in the
routes finishing the week slightly Atlantic remained steady on the
higher on the previous week.
Supramax Timecharter Average (TCA)
US$/day
For Indonesian coal fixtures, a
45000
Supramax vessel for November
40000
35000
19-24 loading was heard placed
30000
on subjects US$7/mt for a voy25000
20000
age to South China. Supramax
15000
trips to India from Indonesia
10000
5000
were estimated between US$ 9
0
500– 10 000/ day opening in
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 Week
Singapore. There was very little
5 year Low
5 year High
2014 ytd
5 year average
period activity reported with
SUPRAMAX/HANDY
Handy/Supra:
Handysize routes in
the Atlantic showing
signs of improvement towards the
week end
The Baltic Exchange Dry Index
Weekly Baltic Average BCI
Weekly Baltic Average BPI
Weekly Baltic Average BSI
Weekly Baltic Average BHI
Weekly BDI Average
(US$/day)
(US$/day)
(US$/day)
(US$/day)
Last Week This Week
22,869
26,145
9,557
9,832
9,361
9,286
6,971
6,703
1392
1460
Trend
Firming
Firming
Softening
Softening
Firming
FFA
Calendar 15 BCI
Calendar 15 BPI
Calendar 15 BSI
(US$/day)
(US$/day)
(US$/day)
Last Week This Week
17,113
16,670
9,309
8,937
9,583
9,151
Trend
Softening
Softening
Softening
Bunker Prices
Rotterdam IFO 380
Rotterdam MGO
Singapore IFO 380
Singapore MGO
(US$/mt)
(US$/mt)
(US$/mt)
(US$/mt)
Last Week This Week
458
455
730
731
479
469
743
733
Trend
Softening
Firming
Softening
Softening
2
-Shipbrokers and consultants since 1919-
US$/day
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
28000
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 45
Cal 15 5 TC
BCI-TCA
US$/day
BCI FFA
Week
1
Cal 15 4 TC
4
7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52
2012
BPI FFA
US$/day
Week
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
14000
13000
12000
11000
10000
9000
8000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 Week
1
Cal 15
4
7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52
2012
BSI FFA
2014
BPI-TCA
US$/day
15000
US$/day
2013
US$/day
15000
18000
14000
16000
13000
2013
2014 ytd
Week
BSI-TCA
14000
12000
12000
11000
10000
10000
9000
8000
8000
6000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45
Week
Cal 15
1
4
7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52
2012
2013
Week
2014 ytd
US$/day
BHI-TCA
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
2014 ytd
-Shipbrokers and consultants since 1919-
Iron Ore
Iron ore: Stockpiles at
major ports in China
surged 1.44 per cent
from last week
Iron ore exported from Port
Hedland hit a record of 37.5
million mt in October, supported by increasing shipments to India which is turning out to be an important
market for Australian miners.
Over the years Australia has
typically
shipped
small
amounts to India on a sporadic basis. In October however India imported 320 000
mt similar to two Capesize
cargoes. Dropping iron ore
prices have made it more
attractive for Indian steel
mills to import instead of
buying domestically, domestic iron ore supply has also
been disturbed by mining
bans in some Indian states.
tinue dropping, with prices
down to U$75.6/mt for 62
per cent purity grade at the
end of this week.
Iron ore stockpiles at 33 major ports in China surged 1.44
per cent at Nov. 3 compared
to a week earlier as a result
of weak demand from steel
mills. Slowing economy and
rising environmental pressure is some of the reasons
for a softening demand. Iron
ore prices are likely to con-
Coal
Coal: Steam Coal stocks at
six major Chinese ports up
1.9 per cent from last week
Combined coal stocks at six consumption. Up 0.73 days
major eastern and southern from last week.
Chinese power generators
were up 1.9 per cent from
last week. Based on the current rate of coal burn in
their six power generators,
they will be able to meet an
average of 25.55 days of
Grain
The Chicago corn and soybean futures edged lower
this Thursday as a result of
the US harvest expected to
yield record-large crops.
Wheat prices also fell for a
third day in a row as Europe
and Black Sea were putting
pressure on supplies, also
contributing to reduce U.S
4
export to the Middle East.
This Wednesday no wheat
tender was offered to the U.S
by Egypt, the worlds top buyer as they bought cheaper
supplies from France and
Ukraine.
Grain markets are turning
their attention to Monday’s
supply and demand report
from the US Department of
Agriculture as it is expected
that they will raise corn and
soybean production to new
records.
-Shipbrokers and consultants since 1919-
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5