Baltic Exchange Dry Index 3681 UP 187
BCI Baltic Exchange Capesize Index 6549 UP 424
BPI Baltic Exchange Panamax Index 3093 UP 193
BSI Baltic Exchange Supramax Index 1835 UP 4
BHSI Baltic Exchange Handysize Index 870 UP 6
1/6 2009 16:30 fcras 0
12605 :
BULK - Dry bulk market smiling again ;- )
Monday, 01 June 2009
Another week of cheers for dry bulk ship owners, as the sector’s leading market index, the Baltic Dry Index managed to keep its positive momentum and gain an additional 25%, reaching almost 3,500 points, the highest point since the previous September, just before the financial crisis stepped in to change everything.
The BDI has edged upwards for almost 20 consecutive sessions. Last week’s “stars” of the rise were the capesize vessels, which have practically taken off.
The Baltic Exchange reports that the capesize market is "red-hot for now with no end in sight as more cargoes pile into the market and tonnage is 'incredibly tight' in the Atlantic."
A 170,000-tonne 1997-built vessel open mid June on the Continent fixed for a trip via Brazil to South Korea at $90,000 daily - and a $100,000 daily does not seem far off, it says.
These are much needed news for dry bulk ship owners, which have been plagued by very low rates for a series of months.
The capesize rates alone had fallen as much as less than $10,000 in early December, when global trade had been brought to a virtual halt.
During the previous week, the Baltic Capesize Index gained more than 40% week on week, to reach 6,125 points, while the Panamax Index added over 26%.
According to market analysts, as well as the latest weekly report by Weberseas, a crucial factor for the increase of capesize rates is the big congestion delays observed in China, with approximately 80 capers waiting for berths to discharge their cargoes, mainly consisted of iron ore.
Queues are lengthening at the other end of the supply chain as well. The number of vessels of all classes waiting outside Australia's giant Newcastle coal loading terminal has swelled from 15 in the middle of February to 35.
China has been importing huge volumes of ore since February, with volumes hitting a new peak of 57 million tonnes in April, up 33 percent from year-ago levels.
Strong inflows are expected to continue in the near term with high forecast arrivals in both May and June.
After this good run and maybe some more to come, the key element will be tonnage supply, with the huge pending orderbook being the main threat.
Ship owners must refrain from the “temptation” to keep more old vessels on service and maintain the already high levels of dry bulk tonnage heading for demolition.
The limiting of supply will prove more than crucial in the months ahead, in order to keep freight rates at high levels.
On the newbuilding cancelation front, there are reportedly increasing numbers of orders scrapped, especially in China.
It is estimated that as many as 28 orders have been cancelled during April, compared to a total of 16 during the first quarter of the year.
Still, as Weberseas warned “caution must be taken with any cancellation figures as, for obvious reasons; there is a lack of real information on this as the yards are trying not to disclose any facts.
This, together with the fact that there is a lack of new orders, is good news for the supply side and may help in bringing stability to this market”.
But there are good reasons to think record ore imports, and the strength in freight rates, will not prove sustainable.
Inventories at the main Chinese ports have risen almost 30 percent from 58 million tonnes to 75 million tonnes over the last three months.
Stocks at the two largest ports on the Shandong peninsula are close to maximum capacity. As a result of that, a series of analysts expect the market to weaken at some point during the summer, since volumes will have to fall back eventually.
Nikos Roussanoglou, Hellenic Shipping News
http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=49847&Itemid=93
BULK - Dry bulk market smiling again ;- )
Monday, 01 June 2009
Another week of cheers for dry bulk ship owners, as the sector’s leading market index, the Baltic Dry Index managed to keep its positive momentum and gain an additional 25%, reaching almost 3,500 points, the highest point since the previous September, just before the financial crisis stepped in to change everything.
The BDI has edged upwards for almost 20 consecutive sessions. Last week’s “stars” of the rise were the capesize vessels, which have practically taken off.
The Baltic Exchange reports that the capesize market is "red-hot for now with no end in sight as more cargoes pile into the market and tonnage is 'incredibly tight' in the Atlantic."
A 170,000-tonne 1997-built vessel open mid June on the Continent fixed for a trip via Brazil to South Korea at $90,000 daily - and a $100,000 daily does not seem far off, it says.
These are much needed news for dry bulk ship owners, which have been plagued by very low rates for a series of months.
The capesize rates alone had fallen as much as less than $10,000 in early December, when global trade had been brought to a virtual halt.
During the previous week, the Baltic Capesize Index gained more than 40% week on week, to reach 6,125 points, while the Panamax Index added over 26%.
According to market analysts, as well as the latest weekly report by Weberseas, a crucial factor for the increase of capesize rates is the big congestion delays observed in China, with approximately 80 capers waiting for berths to discharge their cargoes, mainly consisted of iron ore.
Queues are lengthening at the other end of the supply chain as well. The number of vessels of all classes waiting outside Australia's giant Newcastle coal loading terminal has swelled from 15 in the middle of February to 35.
China has been importing huge volumes of ore since February, with volumes hitting a new peak of 57 million tonnes in April, up 33 percent from year-ago levels.
Strong inflows are expected to continue in the near term with high forecast arrivals in both May and June.
After this good run and maybe some more to come, the key element will be tonnage supply, with the huge pending orderbook being the main threat.
Ship owners must refrain from the “temptation” to keep more old vessels on service and maintain the already high levels of dry bulk tonnage heading for demolition.
The limiting of supply will prove more than crucial in the months ahead, in order to keep freight rates at high levels.
On the newbuilding cancelation front, there are reportedly increasing numbers of orders scrapped, especially in China.
It is estimated that as many as 28 orders have been cancelled during April, compared to a total of 16 during the first quarter of the year.
Still, as Weberseas warned “caution must be taken with any cancellation figures as, for obvious reasons; there is a lack of real information on this as the yards are trying not to disclose any facts.
This, together with the fact that there is a lack of new orders, is good news for the supply side and may help in bringing stability to this market”.
But there are good reasons to think record ore imports, and the strength in freight rates, will not prove sustainable.
Inventories at the main Chinese ports have risen almost 30 percent from 58 million tonnes to 75 million tonnes over the last three months.
Stocks at the two largest ports on the Shandong peninsula are close to maximum capacity. As a result of that, a series of analysts expect the market to weaken at some point during the summer, since volumes will have to fall back eventually.
Nikos Roussanoglou, Hellenic Shipping News
http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=49847&Itemid=93
1/6 2009 16:31 fcras 012606 :
BULK - Capesize market being reinvigorated
:
Sunday, 31 May 2009 20:23
Capesize bulker market has become active again. On the London market on May 27, the average charter rate of four major routes continued to rise to $56,698 per day , up by $6,217 from the previous day, recording increases by wide-margin of $5,000-6,000 for three days in a row.
On the spot market, major resources companies such as BHP Billiton and Rio Tinto actively procured bottoms bound for China. Charterers are returning to the time-charter market as well, and one-year time-charters have been fixed at rates of $27,000-28,000/day.
It was on the London market on May 26 that the average charter rate of four major routes recovered the $50,000/day level. This is attributable to the fact that bottoms demand-supply balance tightened with an increase in spot purchases of iron ore by medium-size Chinese steelmakers. This is the first time in eight months since Sept. 25, 2008 that the rate has topped the $50,000/day level.
The rate of $50,000/day is a buoyant level many market players regard as a "full-scale recovery" on the market. In addition to the high absolute figure, it should be noted that rates soared by $5,000-6,000 for three days in a row. It can be said that the market has entered into a booming phase.
On the spot market, noticeable are active bottoms procurements by major resources companies selling iron ore on a CIF basis to medium-size steelmakers in China. According to market reports on May 27, Rio Tinto spot-chartered three ships and BHP Billiton two vessels on that day alone. Rio Tinto fixed the ships at $59,000/day for China-Australia-China Pacific round trips, and BHI Billiton at $59,500/day for similar assignment. Thus, the rate of $60,000/day is in sight for Pacific-round spot rates.
Participants in the time-charter market, which has been inactive since the plunge in autumn 2008, are returning to the market. Taiwan Maritime Transport (TMT) has procured a 173,000-dwt vessel completed in 1993 at $28,000/day for one year.
Another operator time-chartered a 152,000-dwt ship completed in 1995 at $27,000/day for 12-14 months. Japanese operator sources consider the market exceeding $30,000/day level as a guide for securing profits to a certain extent, and the level topping $30,000/day for one-year charter is near at hand.
http://www.vinamaso.net/news-events/shipping-logistics/capesize-market-being-reinvigorated.html
BULK - Capesize market being reinvigorated
:
Sunday, 31 May 2009 20:23
Capesize bulker market has become active again. On the London market on May 27, the average charter rate of four major routes continued to rise to $56,698 per day , up by $6,217 from the previous day, recording increases by wide-margin of $5,000-6,000 for three days in a row.
On the spot market, major resources companies such as BHP Billiton and Rio Tinto actively procured bottoms bound for China. Charterers are returning to the time-charter market as well, and one-year time-charters have been fixed at rates of $27,000-28,000/day.
It was on the London market on May 26 that the average charter rate of four major routes recovered the $50,000/day level. This is attributable to the fact that bottoms demand-supply balance tightened with an increase in spot purchases of iron ore by medium-size Chinese steelmakers. This is the first time in eight months since Sept. 25, 2008 that the rate has topped the $50,000/day level.
The rate of $50,000/day is a buoyant level many market players regard as a "full-scale recovery" on the market. In addition to the high absolute figure, it should be noted that rates soared by $5,000-6,000 for three days in a row. It can be said that the market has entered into a booming phase.
On the spot market, noticeable are active bottoms procurements by major resources companies selling iron ore on a CIF basis to medium-size steelmakers in China. According to market reports on May 27, Rio Tinto spot-chartered three ships and BHP Billiton two vessels on that day alone. Rio Tinto fixed the ships at $59,000/day for China-Australia-China Pacific round trips, and BHI Billiton at $59,500/day for similar assignment. Thus, the rate of $60,000/day is in sight for Pacific-round spot rates.
Participants in the time-charter market, which has been inactive since the plunge in autumn 2008, are returning to the market. Taiwan Maritime Transport (TMT) has procured a 173,000-dwt vessel completed in 1993 at $28,000/day for one year.
Another operator time-chartered a 152,000-dwt ship completed in 1995 at $27,000/day for 12-14 months. Japanese operator sources consider the market exceeding $30,000/day level as a guide for securing profits to a certain extent, and the level topping $30,000/day for one-year charter is near at hand.
http://www.vinamaso.net/news-events/shipping-logistics/capesize-market-being-reinvigorated.html
1/6 2009 17:06 fcras 012612 :
By Eoin O'Cinneide in London
Published: 12:42 GMT, 01 Jun 2009 | last updated: 12:43 GMT, 01 Jun 2009
http://www.tradewinds.no/drycargo/article538003.ece
------------------------------------------------------------------
Black Sea magic
Panamax rates were really flying on a day where capesizes kept up their pace of late.
A run to the Far East from the Black Sea was the biggest money spinner in the panamax class but there were lucrative Pacific and Atlantic roundtrips as well as a front haul.
The period market was also feverish with a capesize going for over two years and a panamax for well over a year.
Capesizes
Dreyfus has the 171,700-dwt Anangel Odyssey (built 2006) for 30 months from the end of the summer at $31,000 a day. The fixture is a relet from J Lauritzen which fixed the ship as a newbuilding in August 2006 for 10 years at $30,000 a day.
Vitol has been making numerous plays on the market of late and returned for the 180,200-dwt Mineral Kyushu (built 2006) for 11 to 13 months at $39,000.
The capesize sector could see its highest rate yet for many, many months if Oldendorff takes the option to take the ship from the Far East to Brazil and the Med at $50,000 a day for the first 55 days but $85,000 a day thereafter. Otherwise the German has the ship for a roundtrip from the Far East to Brazil at $75,000 daily.
Rio Tinto paid $64,000 per day for the 170,200-dwt Pitsa D (built 2002) to run from China to Australia and back.
Panamaxes
The huge spot rate was $42,000 going to the 76,600-dwt Maribella (built 2004) for a trip from the Med to Black Sea and Far East.
Oldendorff was one of the more active players in all areas as it spent $33,000 a day on an Atlantic roundtrip with the 83,000-dwt Ocean Lord (built 2005). The German also has the 73,500-dwt Orleta Lwowksie (built 1991) for a front haul at $32,000 and the 76,600-dwt Lowlands Queen on a Pacific roundtrip at $25,000 a day.
Two other roundtrips from China to Australia cost $21,000 a day, BHP Billiton getting the 75,600-dwt Anna (built 1999) and the 73,700-dwt Georgios S (built 2001) going to an unidentified player.
Numbers on the Atlantic side were very good with Swiss Marine getting the 77,400-dwt Mitose (built 2008) for a northern Europe spin and the 70,300-dwt Pierre (built 1996) for an Atlantic roundtrip, each at $30,000.
A two-legged voyage starting and ending in the Med set Baumarine back $29,000 a day with the 75,100-dwt Archon (built 2001).
In the period market Cosco signed for the 75,800-dwt Taskent (built 1999) for seven to nine months at $25,000 and Norden has the 71,700-dwt Samjohn Spirit (built 1994) for three to four months at $21,000.
Supramaxes
Period rates were on the up here as the 52,400-dwt Ince Inebolu (built 2002) got $26,000 a day for four to six months and Dreyfus took the 53,500-dwt Navios Astra (built 2006) for up to a year and a half at $14,750.
But spot rates were not moving much as Sinochart spent $24,000 a day on the 55,600-dwt Mimi Selmer (built 2005) from South Africa to South America and the Far East.
Cargill has the 45,600-dwt Karsiyaka (built 1999) from the Far East to the US Gulf and back.
By Eoin O'Cinneide in London
Published: 12:42 GMT, 01 Jun 2009 | last updated: 12:43 GMT, 01 Jun 2009
By Eoin O'Cinneide in London
Published: 12:42 GMT, 01 Jun 2009 | last updated: 12:43 GMT, 01 Jun 2009
http://www.tradewinds.no/drycargo/article538003.ece
------------------------------------------------------------------
Black Sea magic
Panamax rates were really flying on a day where capesizes kept up their pace of late.
A run to the Far East from the Black Sea was the biggest money spinner in the panamax class but there were lucrative Pacific and Atlantic roundtrips as well as a front haul.
The period market was also feverish with a capesize going for over two years and a panamax for well over a year.
Capesizes
Dreyfus has the 171,700-dwt Anangel Odyssey (built 2006) for 30 months from the end of the summer at $31,000 a day. The fixture is a relet from J Lauritzen which fixed the ship as a newbuilding in August 2006 for 10 years at $30,000 a day.
Vitol has been making numerous plays on the market of late and returned for the 180,200-dwt Mineral Kyushu (built 2006) for 11 to 13 months at $39,000.
The capesize sector could see its highest rate yet for many, many months if Oldendorff takes the option to take the ship from the Far East to Brazil and the Med at $50,000 a day for the first 55 days but $85,000 a day thereafter. Otherwise the German has the ship for a roundtrip from the Far East to Brazil at $75,000 daily.
Rio Tinto paid $64,000 per day for the 170,200-dwt Pitsa D (built 2002) to run from China to Australia and back.
Panamaxes
The huge spot rate was $42,000 going to the 76,600-dwt Maribella (built 2004) for a trip from the Med to Black Sea and Far East.
Oldendorff was one of the more active players in all areas as it spent $33,000 a day on an Atlantic roundtrip with the 83,000-dwt Ocean Lord (built 2005). The German also has the 73,500-dwt Orleta Lwowksie (built 1991) for a front haul at $32,000 and the 76,600-dwt Lowlands Queen on a Pacific roundtrip at $25,000 a day.
Two other roundtrips from China to Australia cost $21,000 a day, BHP Billiton getting the 75,600-dwt Anna (built 1999) and the 73,700-dwt Georgios S (built 2001) going to an unidentified player.
Numbers on the Atlantic side were very good with Swiss Marine getting the 77,400-dwt Mitose (built 2008) for a northern Europe spin and the 70,300-dwt Pierre (built 1996) for an Atlantic roundtrip, each at $30,000.
A two-legged voyage starting and ending in the Med set Baumarine back $29,000 a day with the 75,100-dwt Archon (built 2001).
In the period market Cosco signed for the 75,800-dwt Taskent (built 1999) for seven to nine months at $25,000 and Norden has the 71,700-dwt Samjohn Spirit (built 1994) for three to four months at $21,000.
Supramaxes
Period rates were on the up here as the 52,400-dwt Ince Inebolu (built 2002) got $26,000 a day for four to six months and Dreyfus took the 53,500-dwt Navios Astra (built 2006) for up to a year and a half at $14,750.
But spot rates were not moving much as Sinochart spent $24,000 a day on the 55,600-dwt Mimi Selmer (built 2005) from South Africa to South America and the Far East.
Cargill has the 45,600-dwt Karsiyaka (built 1999) from the Far East to the US Gulf and back.
By Eoin O'Cinneide in London
Published: 12:42 GMT, 01 Jun 2009 | last updated: 12:43 GMT, 01 Jun 2009
Måske skulle man snart have d/s norden til den lange....hvad har du det bedst med FCRAS?
Jeg tør ikke de græske....
Jeg tør ikke de græske....
1/6 2009 17:43 fcras 012617 :
DNORD er et af verdens bedst drevne rederier - er blevet udnævnt som sådan flere gange - har selv tidligere været heldig i GOGL som jeg tror nok skal komme op igen - JIN ser pt solid ud, men for dem er info ikke i den kinesiske ordbog.
Og der er flere US noterede bulk rederier hvor der givet kan tjenes en god skilling.
Markedet ser pt ud til at komme op - med vi må være obs på tilgangen af nybyg til verdens flåden - men hvis Kina og Indien og de andre såkaldte BRIK-lande får godt gang i de små tandhjul igen og vi ligeledes ser en forsat og øgende ophugning af ældre tonnage - er fremtiden måske og nok ikke så negativ.
Det er jo ikke nødvendig at fragtraterne (BDI) kommer op over 11.000 pkt for ar rederierne tjener penge - langt mindre kan gøre det - i øvrigt var det meget få bulkere der opnåede disse tårn høje rater.
Kan markedet holde niveauet nu - og lidt til - tjenes der faktisk gode penge.
Det hører også med til historien at investorerne forsat er lidt nervøse og venter tegn på at markedet VIL op og diverse hjælpe pakker får effekt.
DNORD er et af verdens bedst drevne rederier - er blevet udnævnt som sådan flere gange - har selv tidligere været heldig i GOGL som jeg tror nok skal komme op igen - JIN ser pt solid ud, men for dem er info ikke i den kinesiske ordbog.
Og der er flere US noterede bulk rederier hvor der givet kan tjenes en god skilling.
Markedet ser pt ud til at komme op - med vi må være obs på tilgangen af nybyg til verdens flåden - men hvis Kina og Indien og de andre såkaldte BRIK-lande får godt gang i de små tandhjul igen og vi ligeledes ser en forsat og øgende ophugning af ældre tonnage - er fremtiden måske og nok ikke så negativ.
Det er jo ikke nødvendig at fragtraterne (BDI) kommer op over 11.000 pkt for ar rederierne tjener penge - langt mindre kan gøre det - i øvrigt var det meget få bulkere der opnåede disse tårn høje rater.
Kan markedet holde niveauet nu - og lidt til - tjenes der faktisk gode penge.
Det hører også med til historien at investorerne forsat er lidt nervøse og venter tegn på at markedet VIL op og diverse hjælpe pakker får effekt.
