WEEKLY SHIPPING MARKET REPORT WEEK 37 - 12 TH September to 16 th September 2011 - Legal Disclamer The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up to date, Shiptrade Services S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report. Researched and compiled by: Shiptrade Services SA, Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions please contact: [email protected]Shiptrade Services SA Tel +30 210 4181814 [email protected]1st Floor, 110/112 Notara Street Fax +30 210 4181142 [email protected]185 35 Piraeus, Greece www.shiptrade.gr [email protected]
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WEEKLY SHIPPING MARKET REPORTfiles.irwebpage.com/reports/shipping/0jJNJj2XYB/Week 37.pdf · NTC-allied forces have struggled to overrun the mountain town of Bani Walid, 140 kilometers
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WEEKLY SHIPPING
MARKET REPORT WEEK 37
- 12TH September to 16th September 2011 -
Legal Disclamer
The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up to date, Shiptrade Services S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report.
Researched and compiled by: Shiptrade Services SA, Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions please contact: [email protected]
The premium buyers are prepared to pay for sugar from top global producer Brazil fell 38 percent last week as supplies of the sweetener in the country improved, according to Swiss Sugar Brokers. Raw sugar for loading this month at Santos, the country’s largest port, was at a premium of 0.5 cent a pound to the October contract on ICE Futures U.S. in New York, the brokerage said in a report dated yesterday. The premium was 0.8 cent on Sept. 13, it said in a report that day. “Suddenly it seems there is more sugar coming out of Brazil,” Naim Beydoun, a broker at the Rolle, Switzerland-based company, said by phone today. “The crop remains bad, but more cane has been converted into sugar.” The sugar-cane crop in Center South, Brazil’s main producing region, will fall for the first time in a decade to 510.2 million metric tons, according to industry group Unica. Cane is used to make ethanol in the country as well as sugar. “Traders who were unwilling to unleash some of their longs until they have a clear view on the Center South final output are now hoping not to have missed the opportunities of last week’s premiums,” Beydoun said in the report. Premiums also slid on weak demand, he said. “Prices were too high,” Beydoun said by phone. “Demand got pushed forward.” Fewer Ships While sugar supply isn’t abundant, neither is demand, he said. As many as 32 vessels were waiting at Santos and the ports of Recife and Paranagua to load 905,648 tons of sugar on Sept. 14, down from 63 ships and 1.94 million tons a week earlier, according to data from Williams Servicos Maritimos Ltda. “If Brazil would catch up with a better final output, this sugar might be the start of the kick in surplus for next year,” he said in the report. Brazil’s season usually starts in April. Sugar supplies will outpace demand by 4.2 million tons in the season starting in October, the London-based International Sugar Organization estimates. Raw sugar for March delivery rose 0.11 cent, or 0.4 percent, to 26.42 cents a pound by 7 a.m. on ICE Futures U.S. in New York. Prices plunged 6.6 percent, the most since April, on Sept. 16. (Bloomberg)
Libyan Council Prepares for Government
Libya’s National Transitional Council prepared to form a government to replace Muammar Qaddafi’s leadership as fighters battled to oust loyalists from Bani Walid and his hometown of Sirte. Sirte may fall in “two or three days,” according to the former rebels’ military council in Misrata. At least 44 fighters have
been killed and 213 wounded in the area since Sept. 15, according to the council, which has been leading the assault. NTC-allied forces have struggled to overrun the mountain town of Bani Walid, 140 kilometers (90 miles) south of Tripoli, the capital. Loyalists have been shooting at residents of Bani Walid who attempt to revolt, Ahmed Bani, a military spokesman for the NTC, said yesterday at a news conference in the capital. Anti-Qaddafi units deployed around the town after talks for a peaceful surrender collapsed on Sept. 4. Members of the NTC are in talks to form a Cabinet, interim Prime Minister Mahmoud Jibril told reporters on Sept. 18. Since moving to Tripoli from its eastern base in Benghazi, where the uprising began in February, the council has been working to establish its authority over different factions that rebelled against Qaddafi, including the opposition council in Misrata, which was the main rebel stronghold in western Libya during the seven-month conflict. U.S. Embassy Reopens The U.S. will reopen its embassy in Tripoli this week, President Barack Obama said today after meeting with NTC Chairman Mustafa Abdel Jalil. “Our ambassador is on his way back to Tripoli, and this week, the American flag that was lowered before our embassy was attacked will be raised again, over a reopened American Embassy,” Obama said in New York at a meeting of nations that supported the North Atlantic Treaty Organization-backed campaign in Libya. “This is how the international community should work in the 21st century -- more nations bearing the responsibility and costs of meeting global challenges,” said Obama, who is in New York for a meeting of the UN General Assembly. “In fact, this is the very purpose of this United Nations.” The NTC has establishing diplomatic and commercial ties abroad, hosting the leaders of the U.K., France and Turkey in the past week in Tripoli. The African Union today became the latest body to recognize the council as the representative of the Libyan people, according to a statement on the website of the South African president’s office. Companies Return Several foreign companies including BP Plc and Total SA (FP) have said they are also preparing to return to Libya. Qatar National Bank Group said today in an e-mailed statement that it is reopening its representative office in the North African nation, six months after its closure due to the conflict. PT Medco Energi Internasional, an Indonesian energy company, also plans to resume operation of its Area 47 oil block next month, Director Lukman Mahfoedz said in Jakarta today. Three of the five oil refineries in Libya, holder of Africa’s largest crude reserves, have restarted operations, according to local officials. The Tobruk, Sarir and Zawiya facilities are producing a total of about 60,000 barrels a day. Libya’s five plants have a total production capacity of 378,000 barrels of crude a day, according to the International Energy Agency. (Bloomberg)
In Brief: Market continued the upward movement but mid-week it declined, driven by the sharp drop of the Capesize. All in all, BDI lost 62 points, BCI lost 262 points, BPI gained 51 points, BSI gained 38 points, and BHSI lost 8 point. Capes: Week began in a positive tone, but on Friday rates declined steeply. Atlantic market began strongly, until Thursday when we noticed a downfall. Charterers appeared not being in rush, and Owners with prompt tonnage had to lower their ideas. At week’s closing fixtures reported at USD 23.000 per day Transatlantic round, while on the Front haul trade rates remained at the same levels, i.e. USD 45.000 per day. On the cargoes ex ECSA, rates were fluctuating between USD 27.80pmt - 29.75pmt basis Tubarao/Qingdao. In the Pacific region, activity remained at high levels with iron ore majors covering about 15-20 vessels, but rates slightly declined. At week’s closing, rates for pacific round voyage concluded at USD 24.000 per day, just USD 1.000per day since last week. On the Australia/China trade, levels were fluctuating between USD 10.50pmt – 11.80pmt. Panamax: Week began with mixed feelings, as rates in the Atlantic were increasing but Pacific slightly declined. In the Atlantic region things picked up as many new cargoes emerged into the market, combined with an increase of Front haul cargoes ex USG, which eventually pushed both rated for Transatlantic round and Front haul levels to increase. At week’s closing, rates for Transatlantic round concluded at USD 13.400 per day. On the Front haul trade rates declined for cargoes ex ECSA, but USG remains strong. Fixtures reported at USD 25.500 per day + 550.000 ballast bonus on a BPI type vessel for a trip to F.East. Market in the Pacific region remained more or less the same, or slightly declined. There was not much volume of cargo, and we could see more and more vessels opening up. At week’s closing, rates for Pacific round concluded around USD 13.800per day, while rates for trips Ex NOPAC slided around USD 13.500 per day basis N.china/Japan range (M/V POS Glory 76508/05’).
Supramax: Activity remained good and rates moved upwards across both basins.
In the Atlantic basin, rates improved with USG region keeping the league. Rates ex USG for trip to continent reported at USD high 20’s per day, while for trip East Mediterranean rates concluded at USD upper 20’s per day. There was an increase on the enquiries for trips to F.East, with fixtures reported ex USG at USD 32.500 per day (M/V K.Opal 55800/06’), and levels for trip ex Med/Bl.Sea to F.East via Aden close to USD 30.000per day. In the pacific region, activity remained at good levels. Many enquiries were coming out from NOPAC to direction China, or Indonesia to direction India. At week’s closing, some fixtures reported for trips via NOPAC at levels around USD 13.000 per day. For positions opening S.China/S.E.Asia willing to go to India, levels concluded around USD 17.000 per day. Handysize: Physical market followed the same trend. In the Atlantic region we noticed an increase at cargoes ex Continent to any direction, including Mediterranean, ECSA, and F.East. Rates for trips ex Continent to ECSA/USG were at USD 5.000per day, while rates for trip to East Mediterranean were at USD 15.000 per day. Those who could consider G.O.A transit, rates for trip ex Continent/Med/Bl.sea were close to USD 17.000per day with the usual cargoes being fertilizers and steels. ECSA lost its steam with not many enquiries on the market to cover the available tonnage. In the Pacific basin, Indonesia was a bit quiet but was replaced by parcels steels, pet coke and fertilizers to India/Bangladesh or S.E Asia. Rates for trip via Indonesia to China were at USD 12.000per day for positions open S.China/S.E.Asia. Vessels opening N.China/Korea/Japan range were more keen to load coal ex CIS, or steels to S.E.Asia direction.
Dry Bulk - Chartering
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Baltic Indices – Dry Market (*Friday’s closing values)