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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Statoil Invests $1.5b in US Offshore Project

Statoil together with co-owners in the Stampede development in the Gulf of Mexicohas sanctioned the Stampede project in the U.S. Gulf of Mexico. Statoil said it will invest $1.

CMA CGM to Retrofit 10 More Bulbous Bows

The CMA CGM Group said it will retrofit 10 of its vessels’ bulbous bows to achieve improved energy efficiency for slow steaming. The modifications are in addition

AVEVA E3D Takes Center Stage

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets.

Contracts

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Vale Financials Disappoint; Iron Ore Prices, Currency Cited

Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency.

Naviera Integral Orders Damen Fast Crew Suppliers

Naviera Integral of Mexico is the launching customer of Damen’s new Sea Axe Fast Crew Supply vessel, the FCS 4008. President of Naviera Integral, Juan Pablo Vega,

Ports

Partnerships Key to Caribbean Maritime Security

Planning and execution of port and maritime safety and security in Caribbean region is all about partnerships Maritime security and safety experts are meeting in Nassau,

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

St. Lawrence Seaway Receives Strike Notice

The St. Lawrence Seaway Management Corporation (SLSMC) was served a 72-hour notice to strike by UNIFOR, a group representing the Seaway’s 460 unionized employees.

Finance

Statoil Invests $1.5b in US Offshore Project

Statoil together with co-owners in the Stampede development in the Gulf of Mexicohas sanctioned the Stampede project in the U.S. Gulf of Mexico. Statoil said it will invest $1.

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

News

Two Great Lakes Toxic Hotspots Restored

EPA announces removal of two toxic hotspots on Lake Superior and Lake Michigan from binational list The U.S. Environmental Protection Agency today announced that two U.

Statoil Invests $1.5b in US Offshore Project

Statoil together with co-owners in the Stampede development in the Gulf of Mexicohas sanctioned the Stampede project in the U.S. Gulf of Mexico. Statoil said it will invest $1.

CMA CGM to Retrofit 10 More Bulbous Bows

The CMA CGM Group said it will retrofit 10 of its vessels’ bulbous bows to achieve improved energy efficiency for slow steaming. The modifications are in addition

Consulting

SMC to Provide Marine Coordination for Siemens

Specialist Marine Consultants Ltd (SMC) have been working with Siemens, providing offshore marine coordination for a fifth Siemens Wind Power construction project.

Good Performance by Dun & Bradstreet in 3Q 2014

Dun & Bradstreet, the world's leading source of commercial information and insight on businesses, today reported results for the third quarter ended September 30, 2014.

Schlumberger Introduces New Well Integrity Service

Schlumberger announced today the release of Invizion Evaluation* well integrity service, which helps operators evaluate zonal isolation by using integrated drilling, cementing and well logging data.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1774 sec (6 req/sec)