Baltic Exchange Indices
CAPESIZES
Rates continued to go down slightly throughout the week but the index showed some recovery on Friday with 26 points increase. There is still an imbalance of supply and demand in the segment and there is excess of prompt tonnage. No improvement is expected in short term as coal and iron ore trade, the major feeders, are not very much promising. In the
Atlantic, Tubarao – Rotterdam was at around Usd 7,000 levels while
Tubarao-Qingdao route was at around Usd 17,400. In the Pacific, West
Australia – Qingdao route was at around Usd 7,000 and round trips were at around Usd 6,100. 6-13 months period levels were at around Usd
10,250-10,500.
‘C Phoenix’, built 2012-176,000 dwt was fixed by Aquavita at Usd 24,000 basis delivery El Dekheila redilvery Singapore-Japan range for trip via
Black Sea. ‘Mineral Stonehenge’ built 2011-175,713 dwt, was fixed by
Classic Maritime basis delivery Amsterdam redilvery Skaw-Cape Passero for Transatlantic round trip at Usd 3,500 daily.
PANAMAXES
After a respectively positive start on Monday, the rates began to follow a downwards trend during the rest of the week. South American grains are also slowing down as there is not too many fresh orders around. In the
Pacific, despite the Indonesian coal orders, the trend was not positive either. In the Atlantic, Continent
– Far East route was at around Usd
16,000 while round trips were at Usd 9,300. In the Pacific, round trips were at around Usd 8,700.
‘Stefania Lembo’, built 2010-82,101 dwt, was fixed at Usd 10,500 basis delivery CJK redelivery Singapore-Japan range at Usd 10,500; charterers were no t disclosed. ‘Panagiotis’, built 1991-69,337 dwt, was fixed by KCH at Usd 9,000 basis delivery Hong Kong redelivery South Korea for trip via
Indonesia. There were two periods reported one for 5-7 months at Usd
11,250 daily and the other at Usd 10,000 for 5-8 months time.
SUPRAMAXES / HANDYSIZES
Supramaxes had a moderate week with index showing minor changes and closed at 900 points. In the Atlantic, Continent – Far East route was at around Usd 14,200 levels while US Gulf – Continent was at around
Usd 18,500. In the Pacific Japan – South Korea / North Pacific or
Australia round trips were at around Usd 7,800. 4-6 months period was reported at Usd 9,750.
Handysize had a moderate week as well with minor increases in the index which was closed at 545 points. The number of the fresh orders began to decrease in the Atlantic when physical market is taken into consideration. In the Atlantic, US Gulf – Continent route remained over
Usd 15,000 level while Continent – South America was at around Usd
4,500. Black Sea – Far East trips were rumoured at Usd 11,000 levels. In the Pacific, South Korea-Japan to Singapore-Japan via North Pacific route was at around Usd 6,300.
‘Rosina Topic’, built 2000-45251 dwt was fixed at Usd 18,000 basis delivery Recalada redelivery Mediterranean by ED&F Man Shipping.
‘Yasa Anatolia’, built 2011 – 30,130 dwt was fixed at Usd 7,500 basis delivery Onahama redelivery East Coast India for trip via Japan by SK
Shipping.
16000
14000
12000
10000
8000
6000
4000
2000
0
Indices
BDI
BCI
BPI
BSI
BHI
This
Week
871
1246
1082
900
545
Exchange Rates
JPY / USD
USD / EUR
Brent Oil Price
(US$ / barrel)
Bunker Prices
(US$ / tonne)
Singapore IFO
MDO
Rotterdam IFO
MDO
Last
Week
888
1234
1196
902
539
This Week
97.66
1.3031
This Week
102.23
This Week
614
841
586
851
BHSI
HS1
HS2
HS3
HS4
HS5
HS6
AVERAGE
Difference Avarage ($)
-17
12
-114
4602
8644
-2
6
9409
8051
Last Week
99.17
1.3082
Last Week
99.88
Last Week
610
839
578
836

Vessel DWT Built
Obelix 181,433 2011
Alpha Millennium 170,415
Danan Island 77,100
Ecoan G. O 75,131
Samjohn Liberty 74,761
200
2006
2008
1998
Tatjana
Annika N
Bulk Neptune
Crux
Hibernia
56,758
55,768
55,657
32,744
28,104
2009
2011
2009
2002
2001
Delivery
Port Talbot
Jintang
Spore
Hunerston
Immingham
APS Recalada
Phu My
USG
Antonina
Hong Kong
Date
14-16 May
Ely May
30 Apr-2 May
28-30 Apr
2-3 May
Spot
26-28 May
Ely May
Propmt
Ely May
Redelivery
Japan
China
Spore-Jpn
Spore-Jpn
UKC
USG
Japan
Spore-Jpn
Tunusia
China
Rate ($)
23,750
7,350
9,650
15,500
10,250
14,000
Abt 10,000
Abt 21,750
14,000
6,100
Charterers
NYK
DHL
CNR
Quadro
Golden Ocean
Norden
CNR
Bunge
CNR
Ocean Brother
Comment
Via Pointe Noire
Via Newcastle
Via ECSA
Via St. Law
Via Murmansk
85,000 BB
Via Indonesia
Via River Plate
Via SE Asia
Second Hand
The Greek owners continue to dominate the second hand market and the reason for them being active recently is reportedly not only the prices at very low levels but also the fear of levy to the bank accounts just like the Cyprus case. It is rumoured that the other European owners with their economy of country under distress will follow the Greeks with the same grounds.
Newbuilding
The new building order volume is expected to reach Usd 250 billion by the year 2016 according the forecasts as new building prices are close to 1980’s levels. Japanese shipyards are decreasing their prices as the Yen is devaluated.
NEW REPSALES
‘Pacific Tiara’, built 2004-180,310 dwt was sold to Diana at Usd 25.25
Mio.
‘Seakoh’, built 2000-172,247 dwt was sold to undisclosed Greek owners at Usd 16.20 Mio.
- ‘Mount Fisher’, built 2002-28,473 dwt was sold to undisclosed 11.80 Mio
-
‘Ideal Bulker’, built 1994 -28,460 dwt was sol to Chinese 5,75 Mio
- ‘Sunrise Misen’, built 2006-18,922 dwt was to sold undisclosed 8.20 Mio
Estimated Second - hand Prices - 5 yrsold (USD Million)
Handysize
(32,000dwt)
15-17
Supramax
(58,000dwt)
18-20
Panamax
(76,000dwt)
18-20
Capesize
(180,000dwt)
30-32
→
Price Development Since Last Week
→ → ↓
NEW ORDERS
-Berge Bulk ordered Bohai Yard 2+2 x 250,000 dwt tonners basis delivery
2014/2015, price not disclosed.
-Berge Bulk ordered Guangzhou Yard 2+2 x 250,000 dwt tonners basis delivery 2014/15, price not disclosed.
-Mur Shipping ordered Namura Yard 2+2 x 34,000 dwt tonners basis delivery
2014/15, price not disclosed.
-Peter Dohle ordered Jiangsu Hantong Yard 3+2 x 38,800 dwt tonners basis delivery 2015, price not disclosed.
Handysize
(35,000dwt)
19-21
Estimated Newbuilding Prices (USD Million)
Supramax
(64,000dwt)
24-26
Panamax
(82,000dwt)
25-27
Capesize
(180,000 dwt)
44-46
→
Price Development Since Last Week
→ → →

MARKET DEVELOPMENTS AND DRIVERS
-U.S. business investment barely inched ahead in March, suggesting that economic growth has cooled since the start of the year. Orders for non-defense capital goods excluding aircraft, a key measure of business investment, rose 0.2% last month, the Commerce Department said Wednesday. Overall orders for durable goods, meanwhile, decreased 5.7% from the prior month to a seasonally adjusted $216.28 billion. Economists surveyed by Dow Jones Newswires had forecast a 2.9% drop in March orders.
-Germany's Economy Minister Philipp Roesler Thursday raised his 2013 economic growth forecast to 0.5% from an earlier expectation of 0.4%, in a message via Twitter. In 2014, Germany's gross domestic product is still expected to grow by 1.6%, according to the tweet. The minister's spokesman confirmed the minister's tweet in an email to Dow Jones Newswires.
-Economic and Monetary Affairs Commissioner Olli Rehn addresses the European Parliament Economic and Monetary Affairs Committee in Brussels April
25, 2013. European Union countries will continue to consolidate public finances, but they can now afford to do that at a slower pace than before, because their previous efforts have won them back some market credibility, the EU's top economic official said.
-Vale S.A.rose the most among major ironore producers after profit beat analysts’ estimates for the first time in two years on cost reductions and higher copper sales that offset lower prices for the steel ingredient.
-S&P raised Colombia by one level to BBB, the second-lowest investment-grade rating and in line with Brazil, Mexico and Peru. Finance Minister Mauricio
Cardenas told reporters on Wednesday that Colombia will react if the S&P upgrade boosts dollar inflows and leads to a stronger peso.
-The yen climbed against all its major peers after the Bank of Japan maintained a pledge to double the monetary base without outlining any additional measures to meet its inflation target.