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Capesize Rates

Baltic Sea Freight Index Up on Higher Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday, mostly on higher capesize rates.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose three points to 602 points.   The capesize index rose 15 points to 475 points.   Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $114 to $4,415.   Analysts, however, say capesize rates remain very low and do not cover operating expenses as there is abundant supply of ships in the market. There was "very little activity (in capesize segment) and plenty of idle ships", ship broker RS Platou said in a note on Monday.   The panamax index fell two points to 598 points.   Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, fell $21 to $4,780.   While the handysize index fell one point to 392 points, the supramax index was up one point at 650 points. Handysize and supramax are smaller vessels than capesize and panamaxes.   Reporting by Nallur Sethuraman in Bengaluru


Capesize Holds Steady, Panamax Drops

Capesize rates remained very steady worldwide, but panamax rates were weaker in the Atlantic, brokers said. There were unconfirmed reports that Navix had fixed Belmaj 149,000 dwt delivery Indonesia end-March for a trip via Australia to Japan at $29,000 daily. Cargill booked Bottiglieri tonnage for 54,000 tons heavy grain U.S. Gulf/Japan for end-March at $21.75, having previously failed on subjects with the Bottiglieri re-let Darya Geeth at $22.


Panamax Rates Hold Firm

Asia's Panamax rates for dry bulk cargo are expected to remain firm this week on strong vessel demand for grain and mineral exports and support from a rebound in Capesize, traders said. "Panamax freight rates are holding firm this week," said a shipping trader in Seoul. "The rates are a bit firmer than we expected ahead of the slow summer season." Active grain and oilseed exports from South America were providing support to the Panamax market


Asia Dry Bulk-Capesize Rates to Climb

Shipowners confident rates will climb on tighter tonnage supply; Shipowners seek rates premium for Australian coal cargoes. Freight rates for capesize bulk carriers could continue to recover as ship owners scent the possibility of higher cargo volumes on tighter tonnage supply, ship brokers said. "Owners and charterers are playing a game of cat and mouse," said a Singapore-based capesize ship broker.


Dry bulk shipping, Tankers Fall Down

Graph: Drewry Maritime Equity Research

 All stocks under Drewry Maritime Equity Research (DMER)’s dry bulk coverage were down and recorded double-digit negative returns, taking cues from vessel earnings.   The BDI shed its gain of the previous two months and nudged down 20% m/m in August led by a fall in the Capesize index. Capesize rates were adversely affected by ample tonnage and lacklustre demand from China.    For example


No End to Capesize Dry Bulk Misery

A ValeMax size bulk carrier sits alongside the berth (file image)

Rates from Australia to China fall to 14-year low; Brazil to China capesize rates drop to 7-year low. Freight rates for capesize bulk carriers on key Asian routes, which fell to a more than seven-year low on Wednesday, could nudge lower or hold around current levels as too many ships chase too little cargo, brokers said. "It seems like the market is at the bottom," said a Shanghai-based capesize broker on Thursday.


SS&Y Capesize Indices

SS&Y Pacific Capesize Index Plummets 243 Points Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 243 points to 5,259 in the week ending May 8. "The Pacific Capesize index fell after the holidays in the Far East, with early vessels becoming the victims of a lack of inquiry," SS&Y said. "A $1 fall on the Queensland/Rotterdam route (120/150,000 ton cargo) was certainly not going to help the index, which witnessed its first serious decline since January," SS&Y added.


Baltic Sea Freight Index Down Again

The Baltic Exchange main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday for a 12th straight session on weak rates for capesize vessels. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 37 points, or 3.37 percent, to 1,061. The Baltic's capesize index fell 83 points, or 4.09 percent, to 1,946 points.


Baltic Sea Index Down as Weak Demand Hits Vessel Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday as lack of demand took a toll on rates for most of the vessel segments.   The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell two points to 596 points.   The capesize index remained unchanged at 456 points.  


Baltic Index Up Slightly on Higher Rates for Large Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose slightly on Monday due to firmer rates for the large vessel segments.   The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was up one point at 598 points.   The capesize index rose five points or 0.94 percent to 537 points.  


Baltic Index Slips Below 300 Points

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped below 300 points on Thursday, to an all-time low.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


Baltic Index Records New Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low for the ninth straight session on Friday as concerns of slow global demand outweighed gains for the large-vessel segment.  


Demolition Age Drops as the Dry Bulk Market Enters Another Challenging Year

Graph: BIMCO

 The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO.   2016 has shown no improvements so far and prospects for the rest of the year are not looking promising


Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


Demand Woes, Vessel Glut Send Baltic Index to Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, hit a record low on Wednesday on persistent oversupply of vessels and tepid demand.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain


Asia Dry Bulk-Capesize Rates Likely to Remain Flat

File Image: a so-called ValeMax Bulk Carrier

Chinese iron ore and coal imports to fall in 2016 - Clarkson Freight rates for capesize bulk carriers on key Asian routes are likely to stay flat as vessel volumes outpace cargo demand and the approaching Chinese New Year holiday further dampens chartering activity, ship brokers said on Thursday


Drewry: Dry Bulk Shipping Needs Drastic Measures

Dry bulk shipping is facing a perfect storm and requires drastic supply side measures if the industry is to return on course to profitability in the medium term, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.


Dry Bulker Business Down, Says MOL

Dry Bulker. By Mitsui O.S.K. Lines

 In the dry bulker business, the market is deteriorating to a new record low due to the imbalance of fleet supply and demand, along with stagnant cargo trade resulting from the slowdown in China’s economy since last fall, says Mitsui O.S.K. Lines, Ltd.  


Baltic Index Continues Fall to New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, continued its fall to close at a fresh record low on Friday.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


Slashed Charter Rate for Diana's m/v Houston

Courtesy Diana Shipping

Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels


SwissMarine Hires Diana's Capesize Bulker

m/v Houston: By Diana Shipping

 Greek dry bulk shipping company Diana Shipping has entered into a time charter agreement with Geneva-based SwissMarine Services S.A. for its Capesize dry bulker the m/v Houston.   The gross charter rate is US$5,150 per day, minus a 5% commission paid to third parties


NYK Line Posts Loss on Dry Bulk Fleet Revaluation

Image: NYK Line India

 Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss came after it re-assessed the recoverable value of


Baltic Index Slides to New Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, touched a new all-time low on Monday as concerns of weak global demand and vessel oversupply weighed on the sector.   The overall index


Baltic Index Slips to Fresh Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped to another all-time low on Tuesday on worries about vessel oversupply and slowing global demand.   The overall index, which gauges the cost of shipping dry bulk including iron


Asia Dry Bulk-Capesize Rates Should Remain Flat

Western Australia-China rates hit near 17-year low; owners explore laying-up ships. Freight rates for capesize bulk carriers on key Asian routes should remain flat next week as the Lunar New Year holiday in China will curtail chartering activity, shipbrokers said on Thursday.






 
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