Drewry's Dry Bulk Insight

Press Release
Thursday, January 17, 2013

Capesize difficulties countered by smaller vessel gains.
 

Drewry Maritime Research’s latest Dry Bulk Insight report published in Januray highlights the changing fortunes of the market.


December saw a large drop in the Drewry Hire Index. The dip occurred mainly due to a massive decline in Capesize segment freight rates. A lack of cargo and an oversupply of vessels led to the Capesize index almost halving in December. This depleted Capesize index was incorporated into the Drewry Hire Index causing the drop, which was tempered by a rise in handymax and handysize rates.


Grain trade supported the smaller vessel segments with rates remaining firm in the East Coast of South America. Handysize rates for transatlantic round voyages increased from $4,868pd to $4,900pd, marginally up. Meanwhile, trip rates on round voyages from Far East to Australia edged up 3% from $4,607pd to $4,763pd in December. Rates on the grain routes from the US Gulf and East Coast of South America remained firm throughout the month as prompt cargo was available in the region.


Coal India Ltd plans to increase its domestic production instead of securing assets overseas in order to meet the demand from the country’s fuel-starved power plants. The country has suffered a drastic decline in its iron ore exports as the ore-rich states have faced a ban due to illegal mining and environmental issues. Declining exports have had a major impact on demand for Supramaxes, with big steel mills forced to import iron ore.


Dry bulk owners have already taken steps to check their fleet growth by scrapping more tonnage in 2012. However, the size of the current orderbook means that freight rates will remain under pressure for most of 2013, as the market is already heavily oversupplied and a further seven vessels (of 0.3 million dwt) were ordered in December after a slight dry spell in November.
 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

1,000th Becker Mewis Duct to Be Presented at Nor-Shipping

Hamburg-based Becker Marine Systems will present its 1,000th Becker Mewis Duct in Oslo at Nor-Shipping 2015.   The use of all ducts previously delivered will have lowered CO2 by more than 1.

Shell Declares Force Majeure on Forcados Crude Exports

Shell has declared force majeure on exports of Nigeria's Forcados crude oil stream, a spokesman for the company said on Wednesday.   It declared force majeure

IMCA Publishes Security, Emergency Guidance

The threat to maritime security from piracy, terrorism, criminal acts, and hostage and kidnapping threats continues to pose challenges to ships’ owners, masters and crew members,

Contracts

Modernization for Two Swedish Icebreakers

Protacon, a company based in Jyväskylä, Finland, informs it has received an order from Swedish Maritime Administration for the modernization of electric and automation systems of two icebreakers.

Maersk Issues 'letter of undertaking' to Iran

Maersk Line said on Wednesday it had provided a letter of undertaking in relation to uncollected cargo that has led to the seizure by Iranian authorities of the vessel Maersk Tigris.

Iran: Maersk Boxhip Dispute Near Settlement

Iran said on Wednesday a legal settlement could be reached soon over its seizure of the Marshall-Islands flagged Maersk Tigris container ship in the Strait of Hormuz last month,

Ports

Shell Declares Force Majeure on Forcados Crude Exports

Shell has declared force majeure on exports of Nigeria's Forcados crude oil stream, a spokesman for the company said on Wednesday.   It declared force majeure

April Ice Hinders Great Lakes Ore Trade

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 4.3 million tons in April, nearly 15 percent below the month’s long-term average, the

At Greek port, Migrants Try for Italy

Rapper Mahdi Babika Mohamed's journey to a better life in Europe started in his native Sudan and passed through Libya and Turkey before abruptly ending in a squalid

Finance

Japan to Hand Over Data Ahead of Australia Submarine Bid

Japan will agree this month to give Australia classified submarine data, an unprecedented step signalling Tokyo's intent to join competitive bidding to sell Canberra a fleet of stealth subs,

Maersk Issues 'letter of undertaking' to Iran

Maersk Line said on Wednesday it had provided a letter of undertaking in relation to uncollected cargo that has led to the seizure by Iranian authorities of the vessel Maersk Tigris.

Iran: Maersk Boxhip Dispute Near Settlement

Iran said on Wednesday a legal settlement could be reached soon over its seizure of the Marshall-Islands flagged Maersk Tigris container ship in the Strait of Hormuz last month,

News

Shell Declares Force Majeure on Forcados Crude Exports

Shell has declared force majeure on exports of Nigeria's Forcados crude oil stream, a spokesman for the company said on Wednesday.   It declared force majeure

IMCA Publishes Security, Emergency Guidance

The threat to maritime security from piracy, terrorism, criminal acts, and hostage and kidnapping threats continues to pose challenges to ships’ owners, masters and crew members,

Modernization for Two Swedish Icebreakers

Protacon, a company based in Jyväskylä, Finland, informs it has received an order from Swedish Maritime Administration for the modernization of electric and automation systems of two icebreakers.

Consulting

ExxonMobil's License for EON Reality

ExxonMobil Research Qatar (EMRQ) today announced that ExxonMobil has awarded a global commercial license for Immersive 3D Operator Training Simulator technology to co-developer EON Reality Inc.

‘RASI’ Charity Rowers ‘Smashed It’ Round Singapore

Charity endurance event ‘Row Around Singapore Island (RASI)’ beats electrical storm and finishes with time triumph, high emotion and VIP celebrations at the finish line.

Volvo Penta Offers Extended Warranty

Volvo Penta has doubled the warranty on Genuine Volvo Penta Parts and Accessories that are purchased and installed at a Volvo Penta dealer — creating even better protection for customers.

 
 
Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2207 sec (5 req/sec)