BDI WEEK 23
Baltic Dry Index 3288 -556 (-14,46%)
Baltic Capesize 4276 -834 (-16,32%)
Baltic Panamax 3361 -517 (-13,33%)
Baltic Supramax 2410 -331 (-12,08%)
Baltic Handysize 1333 -93 (-6,52%)
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WEEKLY MARKET REPORT
June 11th, 2010 / Week 23
A continued but expected correction this week with all indices ending in the red, the capers being the hardest hit losing over 16%. With this correction and Poseidonia week the market remained quiet with few sales reported.
However, expectations remain very high and certainly the Greek owners are closely monitoring the market and continue to make carefully planned acquisitions..................more here:
http://download.hellenicshippingnews.com/pdf/WeberSeas%20Weekly%20Report%20June%2011-10.pdf
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Golden Destiny: Week Ending: 11th June 2010 (Week 23, Report No: 23/10)
Saturday, 12 June 2010
Week 23/10 ended with 28 sales reported in the secondhand and demolition market.
The highest activity has been recorded in the newbuilding market with 31 orders reported in total ............. more here:
http://download.hellenicshippingnews.com/pdf/wk23BRIEFCOMMENTARY.pdf
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Shipping News / Links:
http://www.maritimedanmark.dk/
http://www.shipgaz.com/news/index.php
http://www.shipgaz.se/
12/6 2010 07:54 fcras 0
30197 11.06.2010
BDI -135/3288 pkt.
BCI -170/4276 pkt. = -2435/44.244 usd
BPI -191/3361 pkt. = -1507/27.023 usd
BSI -48/2410 pkt. = -502/25.201 usd
BHSI -26/1333 pkt. = -341/19.421 usd
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Fixtures 11.06.2010
Capesize draught
No capesize fixtures were reported today but indications from the market are that charterers are looking for deals at lower rates than even those seen recently.
Panamax and supramax rates also remained under strong downward pressure.
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Panamaxes
Periode:
Norden fixed Augustea's 76,000-dwt Salvatore Cafiero (built 2001) for four to six months trading at $27,250.
Undisclosed charterers are paying $32,500 a day to hire Cosco's 69,000-dwt Joyous Society (built 1994) for four to five months.
Spot:
Bunge booked Gleamray Maritime's 75,000-dwt Ecoan GO (built 2001) for a Gulf of Mexico to Far East voyage at $36,250 a day plus a ballast bonus of $36,250. The deal was done as a Louis Dreyfus relet.
Bunge also got Tsakos Shipping & Trading's 83,000-dwt Yiannis B (built 2008) for a River Plate to Far East voyage at $35,000 a day plus a ballast bonus of $800,000.
K Line hired Ta Ho Maritime's 80,000-dwt Chang Ho (built 2000) for a Taiwan - Australia - Japan voyage for $29,000 a day.
Windrose fixed Ocean Longevity's 72,000-dwt Ocean Favour (built 1998) for a Brazil to Europe voyage at $28,000 a day plus a ballast bonus of $500,000.
Cargill is paying $27,000 a day for Clipper's 74,000-dwt Clipper Emperor (built 2000) for a Europe - Brazil round trip for $27,000 a day.
Cargill is also paying $26,500 a day for Efnav's 75,000-dwt Spitha (built 2005) to make an Australia to Far East trip.
Norden secured the 77,000-dwt Ince Andadolu (built 2009 for a China - Australia - India voyage for $26,000 a day.
Chokang is paying $25,000 a day for the 69,000-dwt SCF Suek (built 1998) to make a Philippines - Indonesia - Far East voyage.
Solebay booked the 76,000-dwt Grand Sky (built 1998) for a China - India voyage for $24,500 a day.
Cargill fixed the 71,000-dwt Royal Ocean (built 1995) for a Japan - North Pacific - Far East voyage for $24,500 a day.
But the same charterer is paying $23,000 a day for the 70,000-dwt New Champion (built 1996) making a similar voyage.
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Supramaxes
Periode:
Pacbasin booked Kambara Kisen's 56,000-dwt Tenmyo Maru (built 2008) fat $23,500 a day for three to five months trading.
Shanghai Leading's 52,000-dwt Rui Ning 1 (built 2001) was fixed to undisclosed charterers for three to five months at $22,000 a day.
Spot:
STX Pan Ocean hired Excel's 53,000-dwt Mairouli (built 2005) for a Gulf of Mexico to Far East voyage at $50,000 a day.
Hudson is paying $48,000 a day for Cosco's 51,000-dwt Kang Qiang (built 2002) making a similar voyage.
WBC fixed the 56,000-dwt Santa Isabella (built 2006) for a Brazil to continent voyage for $26,000 a day plus a ballast bonus of $385,000.
BHP Billiton is paying $23,500 a day for the 46,000-dwt Global Glory (built 1998) making a Cameroon - Brazil - Iceland voyage.
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By Jim Mulrenan in London
Published: 15:35 GMT, 11 Jun 10 ' updated: 15:37 GMT, 11 Jun 10
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http://www.tradewinds.no/drycargo/article561258.ece
China's coal demand likely to hit 3.8 bln t in 2015
Saturday, 12 June 2010
China's primary energy demand will reach 4.2 billion tonnes of standard coal in 2015, of which, 3.8 billion tonnes will have to be fed by coal, according to Guo Yuntao, vice director with the General Office of the State Administration of Work Safety.
Government authorities, including the National Energy Administration, are working on an energy plan for the 12th Five-Year Plan period (2011-2015).
According to primary research, demand for China's coal will continue to grow rapidly during the period, making guaranteeing a stable coal supply a significant issue.
In 2009, China's primary energy consumption exceeded 3 billion tonnes of standard coal, and fossil energy consumption accounted for 91 percent of this, including 68.7 percent coal, 18 percent oil and 3.4 percent natural gas. But non-fossil energy consumption only accounted for 9.9 percent.
Assuming an 8 percent of annual growth in GDP, China's primary energy demand would hit 4.2 billion tonnes of standard coal by 2015, with 260 million tonnes to be provided by hydropower, 57 million tonnes by wind power, 68 million tonnes by nuclear power, 20 million tonnes by biomass energy, and 200 million tonnes by oil.
Therefore, about 3.8 billion tonnes will have to be fed by coal.
However, the growth of domestic coal output would find it hard to match the growth of demand.
China's coal output has been targeted at 2.6 billion tonnes for 2010 in the 11th Five-Year Plan, but actual coal output is likely to reach 3.2 billion tonnes this year.
However, China is facing great challenges in restructuring the energy industry.
So far, 315 coalmining companies capable of producing 1.2 million tonnes or more a year have been formed, with a combined annual output capacity of 670 million tonnes.
Meanwhile, China also plans to raise the output capacity of large coalmines to make up more than 50 percent of national total during 2011-2015 and shut down all small coalmines each with an annual production capacity of under 300,000 tonnes.
Nevertheless, small coalmines with production capacity less than 450,000 tonnes still account for the majority of the national coal output and play a significant role in feeding domestic coal demand.
The closure of these small coalmines would definitely lead to a tight coal supply.
Therefore, apart from domestic output, China will have to increase coal imports in order to cater for domestic coal demand.
Guo Yuntao forecast that pushed by the increasing coal demand China is likely to become the largest coal importer in the world in 2010, with net imports expected to hit 170 million tonnes, up from 103 million tonnes in 2009.
Expert from Japan have even predicted that China's coal imports will increase to 0.8-1 billion tonnes in 10 to 15 years.
Source: iStockAnalyst
http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=105706&Itemid=79
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http://www.istockanalyst.com/
14/6 2010 10:13 fcras 030243 13-06-2010 12:00:00
SHIPPING SERVICE: The independent international shipping association, BIMCO, has released its new Shipping Market Overview and Outlook - June 2010. It concludes, that the main shipping drivers looking healthier, but in a tricky environment.
Macro Economics
The main shipping drivers looking healthier in a tricky environment
This recession was caused by a financial crisis, and what we do know about recessions caused by financial crises is that they are followed by very weak recoveries. Why is that? It is because the financial system has been fundamentally damaged ... There is some optimism surrounding the US economy, but the clear skies are still far away. Because personal consumption expenditures account for 70% of the GDP it is relevant to keep an eye on consumers and see how they are doing.
Dry Bulk Shipping
Lots of newbuildings to come but still not undermining a positive market
On the contracting side, things have been busy. 305 newbuilding contracts have been signed in 5 months adding 25.3 million DWT to the order book. Apart from 20 ships the new orderings have scheduled delivery in 2011 and 2012. Amongst the 20 new contracts for 2013-delivery are 5 new 205,000 DWT ore carriers ordered by the mining giant Rio Tinto. The mining companies have been down this road before and given it up - but it appears that they are giving it another go.
Tanker Shipping
Tankers are doing well for now but the prospect is negative
Oversupply of crude tonnage is expected to weigh heavily on rates for the foreseeable future. However, in the short term, support could come from three factors. Firstly, increasing Somali pirate activity, which has forced many operators to divert cargoes away from the East African Coast and in some cases to re-route around the Cape of Good Hope, increasing shipping times to Europe by 12 days. Secondly, although as yet, the recent oil spill in the Gulf of Mexico has not had an impact on the tanker market, if the spill was to encroach on shipping routes it would likely impede shipping to and from the US Gulf Coast. Finally, the renewed rise in the use of large crude carriers for floating storage could limit their availability, especially on routes from the Middle East Gulf.
Container Shipping
Looking brighter but still too many ships ahead
Indicative for the level of reduced speed is the newly introduced FAL 5 string from Maersk and CMA CGM. 10 vessels of 13,000 TEU each are being deployed on the new Asia-Europe string that under old-"normal" conditions would deploy only 7-8 vessels. This service will be introduced in June prior to the peak season and is bound to affect the utilisation on other FE/Europe string, as it satisfies an annual front-haul demand of 676,000 TEU. This compares to the total front-haul demand of 11.5 million TEU in 2009 and equal a surge in volumes of 5.4% alone to meet the capacity of this string.
Source: BIMCO / maritimedanmark.dk
http://www.maritimedanmark.dk/?Id=8209
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BIMCO / website:
https://www.bimco.org/
