Baltic Exchange Dry Index 4070 DOWN 3
BCI Baltic Exchange Capesize Index 7996 UP 16
BPI Baltic Exchange Panamax Index 3125 DOWN 37
BSI Baltic Exchange Supramax Index 1749 UP 14
BHSI Baltic Exchange Handysize Index 780 DOWN 3
19/6 2009 20:41 fcras 0
13899 Things cooled off in the dry-bulk trade on Friday after a week of strong rates. The capesize index drive slowed and panamaxes actually dipped a little.
But Toepfer did throw a $41,000 a day fixture in to the mix amongst panamaxes while Classic once again delved into the period market for a capesize for about a year at a good rate.
Capesizes
That fixture from George Economou-led Classic was of the compatriot 171,700-dwt Anangel Odyssey (built 2006) for 11 to 13 months at $47,000 a day.
Panamaxes
Kru Trade was reported on Thursday to have taken a ship on relet from STX Pan Ocean for five to seven months but that fell through so the former turned to the 76,600-dwt Osmarine (built 2006) for 11 to 13 months at $26,500.
Toepfer’s $41,000 whopper was for a trip from the northern Atlantic to the Persian Gulf braving the Gulf of Aden with the 72,800-dwt Heng Shan Hai (built 1998).
Australian trips were not as expensive as recently but North China Shipping did pay $23,000 a day and a ballast bonus of $350,000 for a trip to China with the 76,600-dwt Coral Diamond (built 2007).
And the 82,600-dwt United Journey (built 2009) got $25,000 daily for a trip from China to Australia and back to Japan.
The same voyage cost a Japanese outfit $24,000 with the 73,600-dwt Padre (built 2004) while the 70,200-dwt Peoria (built 1996) will do a straight China-Australia roundtrip for $22,500.
It was stronger in the Atlantic where a roundtrip from Europe to South America cost one player $31,000 a day with the 76,300-dwt Medi Baltimore (built 2005).
Supramaxes
Period action was not so hot with the 57,000-dwt Blue Marlin 1 (built 2008) getting $22,000 a day for three to five months a top-end rate.
Against this the Australian Wheat Board spent $13,000 daily on about six months with the 46,700-dwt Lihai (built 1998).
The spot market was not great either as Agroship paid $24,500 daily for a front haul with the 56,100-dwt Darya Mahesh (built 2008).
And a spin from India to China with the 57,000-dwt Sunray (built 2008) set Uniwell back $23,000.
By Eoin O'Cinneide in London
Published: 12:46 GMT, 19 Jun 2009 | last updated: 12:46 GMT, 19 Jun 2009
20/6 2009 09:24 fcras 013916 WEEKLY MARKET REPORT
June 19th, 2009 / Week 25
The BDI broke the 4000 point mark again this week (that's twice within June) with some very interested fixtures reported. The highlights were on the capes with some spot trips reaching US$ 100,000 per day. Port congestion mainly in China and the Brazilian long hauls which have been particularly active, have been supporting the upward trend in the rates for the larger tonnage.
- more here:
http://download.hellenicshippingnews.com/pdf/weberseas/WeberSeas%20Weekly%20Report%20June%2019-09.pdf
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Denne og andre nyheder på:
http://www.nordic-drybulk.info/
21/6 2009 16:39 fcras 013965 Michelle Wiese Bockmann - Friday 19 June 2009
CHINA’s iron ore mines face a massive shakeout, with a “severe fall” in domestic production set to boost shipments from Brazil and Australia, according to the United Nations Conference on Trade and Development.
The agency’s annual report on the 2008 iron ore industry forecasts what it called a “great Chinese shakeout” resulting in widespread mine closures and even greater reliance on imported iron ore — a key driver of demand for the bulk carrier freight market.
“It is probable that between one third and one half of Chinese iron ore capacity will close over the next three years, with 40%, or 130-150m tonnes, being the most likely reduction figure,” the report said.
This would “catapult” the world’s top three iron ore miners to record levels of control of the global trade in seaborne iron ore.
Chinese substitution of imported iron ore over its own more expensive and poorer quality product, has emerged as the sole driver of rocketing freight rates in the last two months.
Capesize spot rates on the major trading route from Brazil to China have tripled since mid-April to exceed nearly $117,000 per day because of substitution.
Forecasts that this trend is set to accelerate is of major significance for the global capesize fleet, which now relies almost wholly on Chinese demand to set the market rate.
Brazil’s Vale and Australia’s BHP Billiton and Rio Tinto control 69% of iron ore shipments, which rose 7% to a record 845m tonnes in 2008.
The shakeout was forecast in “the next few years”, Unctad said.
China is currently the world’s largest iron ore producer, at 366m tonnes, or just over 20% of the world’s total production of 1.7bn tonnes.
But Unctad says that small and medium-sized Chinese producers will be “forced to substantially reduce their output, particularly since they are no longer protected by high freight costs for imported iron ore”.
Last month, Rio Tinto said half of domestic mines were already closed.
Unctad says lower freight rates and high costs have meant half of China’s 8,000 mines were operating at a loss, and reliant on government assistance.
Contract prices for iron ore were likely to remain at same level as spot prices of $70 per tonne for landed iron ore in China in the medium term.
“A consequence of this price shift is shakeout of Chinese iron ore mining,” the Unctad report said.
“The effect of the price fall will be reinforced, as far as Chinese mines are concerned by rising costs for health and safety measures, environmental management and rising energy prices.”
Chinese iron ore has average grade of about 27.5%, much lower than imported iron ore at about 60%.
The industry is highly fragmented, with only 49 mines classified as “major” and producing 188.3m tonnes, while “medium and small mines” produce 636m tonnes.
http://www.lloydslist.com/ll/news/chinas-iron-ore-mines-face-massive-shakeout/20017666055.htm
