Friday, 26 June 2015 08:24

Market Report - June 26, 2015

Demand for Capesizes has perked up again resulting in the Baltic Dry Index closing yesterday on 829 points a step in the right direction from 779 points last week.

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       1432

        827

     723

Last week

       1241

        851

     721

Spot time charter     

$ 10,500/day     

 $ 6,600/day 

$  7,600/day 

One week ago

$   8,700/day

 $ 6,800/day 

$  7,500/day

Containers: Compounding the $500 per FEU suicidal spot rate levels from Asia to Europe, rates on the key Hong Kong to Los Angeles trade have fallen to a four year low and now stand at a lowly $1300-1400 per FEU. Even during the current low season, these rates are unfathomable given that the members of the Transpacific Stabilization Agreement, comprising 15 of the largest carriers in the eastbound Pacific announced in May a General Rate Increases of $600 per FEU for June 1 and again on July 1 in combination with a $400 peak-season surcharge also to take effect on the same date. Meanwhile, China’s Ministry of Transport has issued fines totaling $693,000 on 21 container carriers for misreporting freight rates in China-Japan trades.  

Tankers: Given that we are at the height of the northern summer VLCCs trading from the Arabian Gulf to Asia are still making good money in the spot market at $70,000 per day.  Aframaxes and Suezmaxes are maintaining similarly strong rates albeit with regional variations. 

Friday, 19 June 2015 14:12

Market Report - June 19, 2015

 

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       1241

        851

     721

Last week

         820

        719

     678

Spot time charter     

$   8,671/day     

 $ 6,782/day 

$  7,538/day 

One week ago

$   5,467/day

 $ 5,735/day 

$  7,085/day

 

 

Friday, 12 June 2015 12:24

Market Report - June 12, 2015

 

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       820

        719

     678

Last week

       818

        570

     654

Spot time charter     

$   5,467/day     

 $ 5,735/day 

$  7,085/day 

One week ago

$   5,600/day

 $ 4,500/day 

$  6,800/day

 

 

Friday, 05 June 2015 11:01

Market Report - June 5, 2015

The Baltic Dry Index managed to haul itself over the 600 line this week to close yesterday on 603 points compared to 588 points last week and 592 points the week previously.

 

  Cape Size    

   Panamax        

   Supramax 

Index 

       818

        570

     654

Last week

       817

        525

     642

Spot time charter     

$   5,600/day     

 $ 4,500/day 

$  6,800/day 

One week ago

$   5,600/day

 $ 4,200/day 

$  6,700/day

 

 

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%. 

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