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Sunday, April 22, 2018

Ssy Pacific Capesize News

SSY Pacific Capesize Index Rises 312 Points

File Image (CREDIT: AdobeStock / © Jose Gill)

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index reports a change of 312 points in the week ending Monday to 3,814.   "The SSY Pacific Capesize Index rose by 312 points week-on-week to 3,814 points, ending a run of losses that went back to the end of February. The Pacific round-voyage rate (180k dwt) climbed $3,750/day to a five-week high of $11,750/day, while the West Australia- China iron ore spot rate increased by $1.15/t to $6.40/t." SSY said. 

SSY Pacific Capesize Index gain by 432 points

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Shipbrokers Simpson, Spence and Young's Pacific Capesize Index gain by 432 points in the week ending Monday to 4,387. "A weekly gain of 432 points lifts the SSY Pacific Capesize Index to 4,387 points. This is 940 points above the year-ago level. An increase in iron ore chartering activity from West Australia led to a significant improvement in the Pacific, with round-voyage rates (180k dwt) rising by $5,850/day last week to $14,350/day, while the Dampier-China iron ore spot rate climbed by $1.30/t to $6.95/t".  

Capesize Rates Take a Huge Dive

Freight rates for Capesize ships have been hammered this week, falling by the biggest margin seen in over four years, brokers said. London shipbroker SSY said this represented “the largest single week fall,” since it launched its Capesize indices in January 1997. The fall was caused, said SSY, by the fact that few bookings had emerged for ships to carry iron ore cargoes to Japanese steel mills at the end of March and start of April. This followed a spike in activity over the last few weeks as steel mills rushed to book ships for cargoes bought before higher commodity prices take effect on April 1. On the benchmark Atlantic basin ore route from Tubarao to Japan, freight fell by $1.1 per ton during the week to reach $9.1 per ton on Monday.

SSY Atlantic Capesize Index gain by 128 points

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Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index gain by 128 points in the week ending Monday to 6,825. "After falling to a five-month low last week, the SSY Atlantic Capesize Index rebounded by 128 points from the previous week to 6,825. The premium to the year-ago level climbed to more than 1,300 points. The Atlantic round voyage rate (180k dwt) rose by $800/ day to $15,650/day, while fronthaul rates rebounded by $1,500/day to $25,850/day".

SSY Indicies Rise

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 97 points in the week ending Monday to 5,572. Its Atlantic Capesize Index rose 59 points in the week ending Monday to 5,759. "Backhaul rates strengthened amid a generally active market last week and expectations are that the market will firm further this week despite holidays in the Far East," SS&Y said in reference to the Pacific Index. "Richards Bay fixtures pointed the way forward for the Atlantic market last week, with fixtures that would equate to $11.15 per tonne on an index basis," SS&Y said in reference to the Atlantic Index. "Inquiry hasn't risen dramatically but the tough decisions that need to be made will revolve around whether to fix spot or forward."

Dry Bulk: Capesize Rally Continues

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit an over three-month high on Friday as a rally in the capesize vessel segment helped the index record its best week since August 2014.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 80 points, or 6.7 percent, at 1,281 points, the highest level since Jan. 11.The index was up for the 10th straight day, and surged 26.3 percent this week.The capesize index rose for the 11th straight session…

Millennium Fever Should Drive Panamax Market Up

Fixing to cover the millennium holiday period is expected to kick-start the Panamax market in the fourth quarter, shipping broker Simpson Spence & Young (SSY) said. "The belief is that the fourth quarter will see a major improvement as people look to fix for the holiday period," SSY said in its latest monthly report. Capesize supply/demand fundamentals were also looking strong for the period, the broker said. However, recent rate gains in the Capesize sector caused by Bocimar's fixing of more than 30 vessels in August could mean some flattening out before rates firmed by the winter. Panamax spot rates had so far been disappointing but period business was beginning to look firmer, SSY said. Spot rates had climbed to over $20 for 52,000 ton Panamaxes from the U.S.

Bulk Carriers: Capesize Rates Surge

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, jumped 7 percent for the second straight day to a six-week high, perked up by surging capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained for the ninth straight session and was up 77 points, or 6.9 percent, at 1,201 points - highest level since March 9. The percentage jump is the index's biggest since November 2017. The capesize index rose for a 10th straight session and gained 266 points, or about 19 percent, at 1,668 points.

Capesize Rates Bounce Back

Freight rates for Capesize bulk carriers are bouncing back from a 15-week dive, as Japanese steel producers rush for ships to carry coal and iron ore cargoes bought at last year's prices. "Japanese buyers would have taken contracts for 2000 with options for additional cargoes of iron ore and coking coal," said one London broker. "The sudden rush for ships to carry those cargoes has put upwards pressure on freight rates," he added. He said producers of iron ore and buyers were miles apart in negotiations over 2001 contracts. London shipbroker SSY's Capesize Index showed a sudden reversal in the direction of rates, with the Atlantic Index gaining 75 points in the week ending Monday to reach 4,498.

SSY Helps Raise $95m for Five Bulkers

Thomas M. Kane, President of SSY Capital LLC, announced the completion of a $95m facility for the acquisition of five handysize bulkers on behalf of their client Pacific King Shipping Holding Ltd. Pacific King of Singapore is undergoing a fleet modernization program to keep pace with the growing market demand. Founded in 1998, Pacific King Shipping is primarily engaged in ship owning and chartering as one of the leading providers of log transportation in Southeast Asia, the People’s Republic of China and India, as well as other cargoes globally. The addition of these five ships brings the fleet total to 28.

Asia Dry Bulk-Capesize Rates to Hold Steady

Floor may have been reached on Western Australia-China rates; dry cargo demand could fall 5.4 pct in first quarter. Freight rates for large capesize dry cargo vessels on key Asian routes are likely to hold around the current levels next week on ample tonnage supply even as chartering activity is likely to increase following the end of the Chinese New Year holidays. "Some people think rates may have hit a floor in the Pacific," a Singapore-based capesize broker said on Thursday. "At the moment there is no sign of a revival in rates. It really depends on the volume of cargo that comes out next week," the broker added. Both the Atlantic and Pacific basins are well stocked with capesize vessels waiting for employment, the broker said.

Baltic Index Jumps 7%

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, surged about 7 percent on Wednesday to register its biggest one-day percentage gain since November 2016, boosted by improving capesize activity. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 72 points, or 6.8 percent, at 1,124 points, the highest since March 26. The index has risen for the eighth straight session. "We are starting to see additional Brazilian iron ore exports…

SSY Establishes Finance Division

The partners of SSY announced the formation of SSY Capital LLC to serve global shipowners in the capital markets. The new unit will be led by Tom Kane, a leading American finance expert with particular expertise in international finance. SSY Capital will offer financial products tailored to its clients’ needs. Several products will be available to clients, including project and asset finance facilities, a variety of lease and debt financing structures, as well as non-traditional forms and capital sources. SSY recently celebrated its 125th anniversary. In the last 20 years, SSY has expanded its traditional broking expertise to include maritime consultancy and research, gas, chemicals, containers and freight derivatives.

Star Bulk Carriers Acquires 16 Vessels

Photo:  Star Bulk Management Inc.

Star Bulk Carriers Corp announced that it has agreed to acquire 16 vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction. As consideration for the Vessel Acquisition, Star Bulk has agreed to issue approximately 10.5 million common shares to the sellers of the 16 vessels, equal to approximately 14.1% of Star Bulk’s common shares after the closing of the Vessel Acquisition. Under the terms of the agreement with the sellers…

Diana Shipping Signs Time Charter Contract With Cargill

Photo: Diana Shipping Inc.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$20,250 per day, minus a 4.75% commission paid to third parties, for a period of about 18 months to about 19 months. The new charter period is expected to commence on April 24, 2018.

Baltic Index Snaps Seven-session Losing Streak

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Monday, helped by a rise in capesize vessel prices. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up four points, or 0.42 percent, at 952 points, marking its first gain in eight sessions. The capesize index gained 30 points, or 3.64 percent, at 854 points, moving further away from a near nine-month low touched on April 5.

Baltic Index Gains On Stronger Capesize Demand

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose over two percent on Tuesday to mark its biggest one-day percentage gain in about seven weeks, helped by stronger capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 22 points, or 2.31 percent, at 974 points. This was the biggest one-day percentage gain for the index since Feb. 21. The capesize index gained 76 points, or 8.9 percent, its biggest percentage rise since Jan. 24, to 930 points.

SS&Y Pacific Capesize Index Rises 179 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 179 points to 4,378 in the week ending Oct. 18. "After last week's record rise (912 points), the Pacific Capesize index has continued on a more moderate upward path this week," an SS&Y spokesperson said. "Current Pacific trade and activity looks steady with the volume of Japanese and Chinese cargoes remaining strong, but Atlantic direction cargoes are not holding as high a premium as trans-Pacific, although brokers feel that this could alter soon," he added.

Baltic Index Rises on Stronger Rates Across Segments

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a sixth straight session on Monday as rates across vessel segments picked up. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 11 points, or 1.1 percent, at 1,025 points. The capesize index was up 23 points, or 2.2 percent, at 1,061 points. The index was up for a seventh straight session on Monday. It rose 26 percent last week in its biggest weekly gain since August 2017.

Lee Joins SSY Capital

Simon Lee has joined SSY Capital LLC. He has taken the position of Vice President in the office, where he is primarily responsible for the origination, syndication and execution efforts in .. Lee has more than ten years of experience in the financial service industry. Lee received a Bachelor of Accountancy, with a minor in Banking and Finance, from , as well as the CFA Charter from CFA Institute, .

Baltic Index Rises on Firmer Large Vessel Rates

File Image (CREDIT: AdobeStock / © Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, gained on Thursday on higher rates for larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 14 points, or 1.4 percent, at 993 points. The capesize index gained 42 points, or 4.47 percent, to 982 points. It was up for a fifth straight session. "After a relatively long period of time with falling (capesize) rates, things have finally improved ...

SS&Y's Pacific Capesize Index Fell 16 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 16 points to 3,250 in the week ending Sept. 20. "The Pacific Capesize index had a disappointing 16 point fall this week, with a five cent drop on trans-Pacific routes an indication of the lack of demand," SS&Y said. "The index is still nearly 1,000 points down on 1997 levels and dipping away from clearing 1998's peak, so cargoes need to start emerging soon if the market is to remain feeling buoyant."

SS&Y Capesize Indices

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. Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index fell 131 points to 4,786 in the week ending May 8. "The Atlantic Capesize index dived on the back of weaker demand, which softened rates for early tonnage. However, iron ore demand in the Atlantic remained steady and limited the fall in rates to more moderate levels," SS&Y said.

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