Barry Rogliano Salles Weekly Dry Bulk Market No 651
Tuesday, 22 September 2009
New record levels of steel production in China this week have failed to impress the Cape market which fell down to levels not seen since May this year. While discussions about the way iron ore prices will be settled in the future are still ongoing ............ link:
http://download.hellenicshippingnews.com/pdf/dbnl-651-2.pdf
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22/9 2009 06:43 fcras 0
18772 Monday, 21 September 2009 11:51
South Korea's STX Business Group is set to sign a KRW 6trn ($4.97bn) contract of affreightment (COA).
An official from STX Pan Ocean, the group's shipping unit, said "We are in final stages of negotiation with Brazil's iron ore supplier Vale for a COA worth KRW 6trn."
The both parties have been discussing the massive contract for several months, and it is said a firm contract is set to be signed early this week.
Accordingly, STX Pan Ocean is planning to order eight 400,000-dwt very large order carriers at sister company STX Offshore & Shipbuilding.
The shipping company is said to be carrying a total of around 300m tons of iron ore and it will transport 12m-13m tons of iron ore annually for Vale.
STX Pan Ocean is also said to be mulling an additional order for VLOCs for the COA with Vale.
Source: Asiasis
http://www.vinamaso.net/news-events/shipping-logistics/stx-orders-8-vlocs.html
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Website STX Pan Ocean:
http://www.panocean.com/
Website Vale:
http://www.vale.com/vale_us/cgi/cgilua.exe/sys/start.htm?tpl=home
COA (Contract of Affreightment):
http://en.wikipedia.org/wiki/Affreightment
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Sunday, 20 September 2009 11:18
Lorentzen & Stemoco predicts that a little over half the bulkers due for delivery this year will make it out of the shipyards on time.
The Norwegian broker believes that only 40.7mdwt, or 56% of the 72.7m dwt scheduled for delivery in 2009 will be delivered as scheduled.
"The rest will be deferred or, in some cases, have been cancelled and will not be delivered," Lorentzen & Stemoco chief economist Nicolai Hansteen said.
Deliveries have been on a steady decline for the last two quarters according Hansteen, and the third quarter looks set to follow that trend.
"Our research shows that while 11.5mdwt were scheduled for delivery in Q1 of 2009, only 8.2mdwt was actually delivered, meaning about 70%," he said.
In the second quarter some 13.7mdwt was scheduled for delivery, only 8.2mdwt was actually delivered, representing 60% of the expected deliveries.
According to the shipbroker newbuilding yards were scheduled to deliver 20.4mdwt of bulkers between July and September.
"We reckon that just over half of the scheduled bulk carriers will be delivered according to plan during the July-September quarter," predicts Hansteen.
So far, in July and August, he says a total of 4.9mdwt of capesize and panamaxes have been registered as trading for the first time.
In those same two months some 6.2mdwt of capesizes and 1.6mdwt of panamaxes, a total of 7.8mdwt, were due to have been delivered.
This means that only about 63% of the scheduled bulker newbuildings have been delivered in the first two months of the third quarter.
In the fourth quarter of 2009 an estimated 23.9mdwt of dry bulk tonnage, including 12.1mdwt of capesize ships, are due to be delivered.
Source: Asiasis
http://www.vinamaso.net/news-events/shipping-logistics/bulker-deliveries-go-slow.html
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