WEEKLY SHIPPING MARKET REPORT WEEK 10 - 5 th March – to 9 th March 2012 - 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 REPORT WEEK 10
- 5th March – to 9th March 2012 -
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]
Individual Cooperation Agreements on Asia-Europe Trades
Cosco, "K" Line, Yang Ming, Hanjin and Evergreen have agreed to initiate individual cooperative arrangements on Asia-Europe trades starting from April 2012 as announced last December. This cooperation between the four CKYH Lines and Evergreen Line is designed to offer customers best sailing frequency, transit time and service coverage so as to fulfill customers' needs. These bilateral arrangements will be implemented in 8 weekly services for Asia - North Europe and 4 for Asia - Mediterranean including direct services for Asia - Adriatic regions calling Rijeka, Koper and Trieste. Especially, weekly services for Asia - North Europe, which in fact, offer the highest frequency in the market, will also provide very attractive transit times from Asia to major European ports including Rotterdam, Hamburg and Felixstowe (i.e. 26-27 days from Shanghai/Ningbo and 23-24 days from Yantian). The majority of the fleet operated in these total twelve loops will be ranging from 8,000TEU to 13,000TEU size (K Line)
Chinese demand to support base metals in 2H: Deutsche Bank
Chinese demand to underpin industrial base metals in the second half of the year, said Deutsche Bank in a research note. According to the bank, these metals could face pressure in the near term due to such factors as high oil prices weighing on economic growth, a stronger U.S. dollar and lack of catalysts for further monetary accommodation. However, the bank remains positive on Chinese economic growth. Even though Chinese authorities recently lowered their target economic-growth rate for 2012, bank added. Deutsche Bank also said that its economist on China upped the forecast to 8.6% from 8.3% due to better-than-expected export growth, improved performance of small businesses
and less severe impact from a real-estate downturn than the market perception. Meanwhile, the bank added that, 2012 is likely to be a big year in terms of public-housing construction. “The government plans to start 7 million units and complete building 5 million units by the end of this year. In addition, the 10 million units started last year will continue construction this year,” bank concluded. (Commodity Online)
Pertamina Reissues Tender to Buy Crude Oil for Delivery in May
PT Pertamina, Indonesia’s state- owned oil company, reissued a tender for the third time to buy crude for delivery in May,
according to a document obtained by Bloomberg News. The tender will close on March 14, with offers valid until the
following day, the document showed. Pertamina first issued the tender on Feb. 20 and reissued it
twice. (Bloomberg)
Russia to Cut April ESPO Crude Exports to 12 Cargoes, Plan
Shows
Russia, the world’s largest oil producer, plans to export 12 cargoes of East Siberian Pacific Ocean pipeline, or ESPO, crude in April, one less than March, a loading schedule obtained by
Bloomberg News shows. A total of 1.2 million metric tons, equivalent to 293,200 barrels a day, of ESPO crude will be loaded from the port of Kozmino in Russia’s Far East near the city of Nakhodka in April,
according to the plan. Russia also plans to ship three cargoes of 100,000 tons each
of ESPO for loading on May 1 to May 6, the plan showed. Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan
their supply and trading activities. (Bloomberg)
Shipping , Commodities & Financial News
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In Brief: Week brought some positive sentiment on the market and the BDI increased from 778 to 824.
Capes: Stability in a decreasing manner would describe this week for capes. Due to great number of open vessels, especially in Far East, the average TC routes went down by USD 193 over the week closing at USD 5,786 The Atlantic market was driven mainly by Canada and East Coast of USA that produced some cargoes to Far East. ECSA was slow during the week in spite the fact that owners kept ballasting their vessels at that direction. The transatlantic round fell even more at around USD 4,250 levels while the fronthaul trips kept the one dollar difference of USD 20.00 pmt of charterers to USD 21.00 that owners were asking. Pacific had more movement on cargoes with the majority been exported by the Australian iron ore majors. The Far East round was increased significantly compared to last week by USD 2,750. Period activity was low with few fixtures done and rates around USD 12,500 levels.
Panamax: Atlantic firming up whereas Pacific stabilizing at last week’s levels. In the Atlantic Basin, Black Sea seems waking up, at last, and has pulled ballasters to the East Med. As a result supply of tonnage at USG and Continent decreased and rates went upwards. ECSA steadily offers employment to balasters from Far East so the week closed with the T/A round at usd 5k levels and the fronthaul trips at usd 15k. At the Pacific Basin, the traffic from NOPAC and Australia was not enough to improve the rates so these kind of trips closed at usd 7000-7500 daily. Not much period activity but a 64 k dwt panamax got for 2/5 months usd 7,250 dlosp Mid China. For LME vessels the rates for 4/6 months closed at usd 10,000-10,500.
Supramax: Further recovery in the Atlantic. Steady Pacific.
In the Atlantic we saw many fresh petcoke and coal requirements from USG. Scrap traffic also is slightly increased from USG and USEC where as in the Continent only a few handymax stems were in the market. The rates from USEC were dramatically increased as we have been informed that a supramax got usd 11OOO aps USEC for a trip to the Med. Many grain charterers also entered the market during this week with supramax stems out of Missisipi with destination Far East. South East keeps the lead at the Fareast market with many fresh coal orders coming out and nickel ore charterers had to pay higher premium consequently. The rates for Indo/India closed around 12000 basis delivery South China and basis same delivery for Indo/China rounds the rates closed between 10000-11000.The NOPAC rounds seem stabilizing at levels between 10000-11000 and the period rates for 4/6 months basis worldwide redely closed at usd 12000-12500. Handysize: Week showed some positive sentiment especially to South East Asia The Atlantic remained at similar levels for another week with the transatlantic been done at USD 7,000. The lack of cargoes from ECSA, as sugar for example, and the oversupply of tonnage and ballasters from West Africa did not help to see better rates. USG picked up a notch but still USD 9,000 for trip to East Med is not what owners expected when decided to take extremely low rates, even zero hire during last weeks, to reposition their vessels there. On the fronthaul levels remained low at around USD 4,000 similar to last week. Pacific was much better with significant improvement, reflected on the round voyage which was done at USD 8,000 levels a notable increase of USD 1,500 more. Coal from Indonesia to China and Korea was in the spotlight with many orders been out that firmed up and fixed at numbers more than USD 9,000. The most problematic area once more was East Coast India with very few and low paying cargoes. Period activity was very slow as there was not much interest from owners although charterers went out asking for long period tonnage.
Dry Bulk - Chartering
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Baltic Indices – Dry Market (*Friday’s closing values)