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BULK - Week 22 / BDI -5.74% / Weekly Report

29980 fcras 5/6 2010 08:05


Baltic Dry Index 3844 -234 (-5,74%)

Baltic Capesize 5110 -107 (-2,05%)
Baltic Panamax 3878 -369 (-8,69%)
Baltic Supramax 2741 -241 (-8,08%)
Baltic Handysize 1426 -51 (-3,45%)


June 4th, 2010 / Week 22

The expected correction in the indices continued throughout the week and, whilst the BCI managed to increase Tuesday and Wednesday, all indices ended up in the red.

Hardest hit were the Panamax/Supramax indices (BPI/BSI) both of which lost over 8% for the week.

As demand for steel products in Europe is slowing down so is the manufacturing in China and in turn, the demand for iron ore into China is weakening.

India iron ore exports into China are particularly vulnerable since the cost per tonne is higher because iron ore is carried in smaller parcel sizes (panamax and supramax tonnage as opposed to capesizes) due to the various port limitations.

This, in turn, has affected the spot iron ore prices that have declined by almost a forth in the past one month.

In addition, the main Chinese steel mills have sufficient inventory and stocks have piled up at major ports, adding to the slow down in the demand for iron ore imports from India.

Nevertheless, with expectations running high, prices remain firm as demand is high since more and more buyers are looking to enter the market and capitalize on the good cash flows.

The panamax M/V "HERMES ISLAND" (75,615 dwt / blt 2000 Japan) was committed for US$ 34.80 million to Chinese buyers.

Six months ago the panamax bulkers "Willi Salamon" and "Gertrud Salamon" (both 74,005 dwt / blt 2000 Japan) were sold for US$ 27.50 million each.

This represents a price appreciation of US$ 7.30 million being a price increase shade over 25% !!!

Another notable sale is that of the handysize bulker M/V "CS SADA" (33,562 dwt / blt 2005 Japan) which has been sold for US$ 28.80 million to Greek buyers.

The strong number represents the continued interest and demand for handysize bulkers, a sector that is promising stable and good returns.

In addition, it is the sector with the smallest percentage of newbuilding orders.

- more here:
Seneste kontrakt slutninger/Fixtures: - (Klik på "Last Week")


5/6 2010 08:16 fcras 029981

Golden Destiny Week Ending: 4th June 2010

(Week 22, Report No: 22/10)

Saturday, 05 June 2010

Week 22/10 ended with 36 total sales reported in the secondhand and demolition market.

The highest activity has been recorded in the newbuilding market with 80 total number of orders reported. The secondhand market has been marked ..............more here:

6/6 2010 10:19 fcras 030005

Congestion persists

PostTime:2010-06-04 08:50:53.

Capesizes are registering near record highs with panamaxes not far behind.

Around 12% of the dry-bulk fleet is tied up in queues after port congestion worsened.

ICAP Shipping says the collective figure for Australia, Brazil, China and India grew sharply last week to again comfortably exceed 50 million dwt.

The broker highlights congestion in Australia, where it has increased to nearly 20 million dwt from less than 17 million dwt the previous week. It says worst affected are capesize bulkers, which are registering near record highs.

The congestion is particularly severe along Australia's east coast, although ICAP points out that rapid swings in congestion levels are by no means unique.

Iron-ore exports from Australia and Brazil have been increasing.

ICAP says that while panamaxes have also seen increasing congestion, the current total worldwide of 10.36 million dwt is well below the all-time peak of 12.88 million dwt set two months ago.

"Congestion is but one piece in the shipping-market puzzle but these developments are nevertheless likely to favour the capesize sector and pressure the panamax,"said ICAP.

Meanwhile, according to figures published by Global Ports, the number of capesizes at anchorage by 28 May had risen to 171 from 159 vessels a week earlier.

Among the worst affected is Brazil, where 53 capesizes are waiting, up from 44, it says.

At Australia's main coal and ore ports, the number of bulkers waiting has risen to 173 vessels, up from 159. It comprises 88 capesizes, 68 panamaxes and 17 handy­maxes.

The coal ports of Dalrymple Bay and Newcastle have 65 and 40 vessels, respectively, at anchor, an increase in both cases of two vessels on the week, says Global Ports. Respective waiting times are 25 to 35 days and between eight and 13 days.

The situation has eased in China, where 28 capesizes are reportedly waiting at the country's major ore and coal berths, as compared with 43. However, another 46 capesizes were expected to arrive within the following 14 days, as against 37 a week previously.

Bulkers have been largely unaffected by the now-settled Transnet transport workers strike in South Africa, where Global Ports most recent report says just two ships are alongside loading coal, with three at anchor.

Source:Tradewinds Author:Geoff Garfield London


6/6 2010 13:01 fcras 030008

Brazil's soya bean exports rise

Exports of soyabeans from Brazil have generated huge demand for tonnage this year.

In addition the speed of the change which resulted from the timing of the harvest is quite remarkable.

In January this year, for example, exports from the country amounted to just 93,000t with nearly all of it headed for Baltic ports.

In the month of April exports amounted to just under 5 million tonnes with three-quarters destined for China.

Exports are likely to get larger in the months ahead as seasonal peaks are reached usually in May and June.

The rapid increase in demand for Brazilian soyabeans by China - which also sources supplies from the USA - is mostly to compensate for the recent steep reduction in exports out of Argentina which has seen its total exports slip from 12 million tonnes in 2008 to less than 10,000 tonnes so far this year (Jan-Mar) however with a record harvest of 54 Mt forecast in the current marketing year Argentina's bean exports are expected to bounce back strongly from April data onwards.
Foto: Massive Brazilian soy bean harvest


7/6 2010 10:48 fcras 030017

/, Irina Avdeeva/ Growing demand for fuel in Global market furthers coal export, including coking coal from Russia.

In the Q1, 2010 Russian coal supplies to global market increased by 47.1 % as compared with the Q1 of 2009, to 29.57 mio tons. As per the results of 2010 Russian coal supplies volume to Global market can amount about 118 mio tons. Main importer of Russian coal is UK. However, in the Q1 2010 the shipments to UK fell by 11.5%, to 3.87 mio tons.

Coal shipments to China boosted by 10.8 times: from 310.8 thousand tons in the Q1 of 2009 to about 3.4 mio tons in the Q1 of 2010. The share of China in total volume of Russian export grew from 1.5 to about 11.4 %.

Turkey, which was the second biggest buyer of Russian coal in the Q1, 2009, moved to the third place (after China), although the shipments volume to Turkey grew. Thus, in the Q1 2010 Russia exported to Turkey 3.2 mio tons of coal (1.8 times growth on the Q1, 2009).

It is worth noticing that the share of coking coal in the total Russian coal export volume as per the results of the Q1 of 2010. In Jan.-March 2010 Russian shipped to the global market 3.5 tons of coking coal, which was 2.4 times as much as in the Q1 of 2009. The share of coking coal in the Russian export volume grew from 7.3 to 11.8 %. Not only the shipments volume grew, but also the geography of the supplies. Thus in the Q1 of 2009 Russia did not export coking coal to China, Germany, Estonia, France, and some other countries.

The shipments to Ukraine, which is the main buyer of Russian coking coal, grew by 3 times to 1.19 mio tons. Switzerland is in second place. The shipments to S. Korea also increased.

Year-on-Year Russian coking coal export could amount 14 mio tons. However, taking into account the accident at Raspadskaya mine, coking coal export is unlikely to reach this figure.

Wednesday, June 2, 2010
Raw materials