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Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
 The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered from weak freight rates stemming from falling demand and an oversupply of ships. However, despite worsening freight market conditions, the demolition of dry bulk tonnage has not been adapting fully to this trend as could be expected, at least until now. During 2014 bulk carriers equaling 16 million dead weight tons (DWT) were sold for demolition, down from more than 23 million DWT in 2013.
Scrap prices are under pressure from a general diminishing demand for steel in addition to cheap steel coming out of China. With low scrap prices, currently around USD 370 per light displacement ton (LDT) owners are more reluctant to let go of their ships despite being pressured from poor freight market conditions. However, data from the first four months of 2015 shows that more owners are scrapping their ships than ever before.
Since the beginning of 2015 demolition has gone up for all of the ship sizes within the dry bulk segment with Capesizes carrying the lions share. In 2014, 25 Capesize ships totaling more than 4.2 million DWT were scrapped. With not even half of the year behind us the numbers have already more than doubled. During the first four months of 2015, 52 Capesizes with a total DWT of around 8.7 million have been sold for demolition. The numbers are hastily approaching the level of 2012 where a record total of 70 Capesize ships where scrapped.
Chief Shipping Analyst at BIMCO, Peter Sand, Says:
“The high amount of Capesize demolition will benefit the segment. Although increasing scrapping was expected the actual development exceeded BIMCOs expectations. This could have a positive impact on the market.”
The demolition of Panamax ships has also been on the rise in 2015 and although the development is not quite on par with the Capesizes it is still substantial. In 2015 as much as 2.6 million DWT has already been sold for demolition equaling more than half of last year’s total where 4.8 million DWT were scrapped.
For Handymax and Handysize demolition has also increased in 2015. For Handymax just over 1 million DWT of tonnage has been scrapped so far in 2015, 34 % more than the same period last year. For Handysize the numbers are 2.2 million DWT so far, up 79% from last year.
“The increase in Capesize scrapping comes at a much needed time for the market. Looking at the development so far this year the fleet growth has actually been negative, with a reduction of 0.8 %.”, adds Peter Sand
Source: BIMCO | Hellenicshipping
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Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
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