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

Friday, 22 August 2014 09:56

Market Report - August 22, 2014

 

       
    Cape Size      Panamax            Supramax 
Index       2535      812       937
Last week      1882      739       861
Spot time charter      $  17,066/day      $ 6,467/day  $ 9,797/day 
One week ago $  13,677/day $ 5,883/day  $ 9,004/day

 

Friday, 15 August 2014 08:45

Market Report - August 15, 2014

Over the last week the capesize sector has made some great gains but many are being cautiously optimistic. However, tightening of available capacity and anticipated increase in iron ore shipments should see these rates persist or improve over the next few months.

       
    Cape Size      Panamax            Supramax 
Index       1882      739       861
Last week      1150      616       785
Spot time charter      $  13,677/day      $ 5,883/day  $ 9,004/day 
One week ago $    9,300/day   $ 5,000/day $ 8,200/day

Tankers:  Delays by the shipyards in delivering newbuilds will provide tankers markets with some relief.  65% of the expected tanker newbuilds are late coming out of the yards.  This week VLCC earnings on the Middle East Gulf to Asia trade reached a respectable $26,000 per day.

LNG:  With LNG ship capacity exceeding LNG production by 40m tonnes, the last 12 months have seen rates fall from a high of $110,000 per day to $60,000 per day with delivery of new vessels continuing to outpace start-up of continually delayed LNG production capacity

Containers: Transpacific eastbount rates are up 8.7% over last year and the utilization chart below is good indication of what is supporting the increases in addition to the rush to get US imports to destination with the uncertainty of the US West Coast longshore negotiations.

324 containers

 

Friday, 08 August 2014 09:57

Market Report - August 8, 2014

With most of the developed countries in the northern hemisphere on annual vacation, the market is in a period of “watching paint dry” The Baltic Dry index closed marginally up for the week on Thursday on 765 points compared to 755 points last week and 732 points the week previously. 

       
    Cape Size      Panamax            Supramax 
Index       1150      616       785
Last week      1195      619       716
Spot time charter      $  9,300/day      $ 5,000/day  $ 8,200/day 
One week ago $  9,600/day   $ 4,900/day $ 7,500/day
Friday, 01 August 2014 09:20

Market Report - August 1, 2014

The markets remain unusually quiet, even by mid-summer standards. The Baltic Dry index closed marginally up for the week on Thursday on 755 points compared to 732 points last week and 738 points the week previously. 

       
    Cape Size      Panamax            Supramax 
Index       1195       619       716
Last week      1201      596       666
Spot time charter      $  9,600/day      $ 4,900/day  $ 7,500/day 
One week ago $  9,400/day   $ 4,800/day $ 7,000/day

 

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