Maersk Broker PPT template Office 2010

Weekly Dry Bulk Data
Week 3, 2014
Average Time Charter Rates
The Matrix: Illustrative 1, 2, 3, 5, and 10 year period rates for Handysize, Ultramax and Kamsarmax tonnage
USD/Day
Jan ’15
Chng
+/-
Handysize 38,000 dwt
1 year
8,500
Jan ‘16
Chng
+/-
Chng
+/-
Jan ‘17
High
2014
Low
n/a
n/a
n/a
n/a
2 year
3 year
8,750
9,000
9,000
9,500
n/a
10,000
n/a
n/a
n/a
n/a
5 year
9,500
10,000
10,750
n/a
n/a
10,000
10,500
10,750
n/a
n/a
10 year
Ultramax 61,000 dwt
1 year
10,000
-250
n/a
n/a
15,000
10,250
2 year
10,500
0
11,000
n/a
14,500
10,750
3 year
10,750
0
11,250
0
12,000
0
14,500
11,000
5 year
11,250
0
12,000
0
12,250
0
14,250
12,000
12,000
0
12,500
0
12,500
0
14,000
12,500
10 year
Kamsarmax 82,000 dwt
1 year
8,000
+500
n/a
n/a
15,250
8,750
2 year
8,500
0
9,500
0
n/a
15,000
9,750
3 year
9,750
0
11,000
0
12,500
0
14,500
10,250
5 year
11,500
0
12,500
0
12,750
0
14,500
11,750
10 year
12,500
0
12,750
-250
12,750
-250
14,500
12,750
Illustrative rates estimated basis Jan. 15 with Pacific delivery.
Vessel prices
(million USD)
Handysize 35,000 dwt
Supramax 56,000 dwt
Kamsarmax 82,000 dwt
Capesize 180,000 dwt
5 year
NB
5 year
NB*
5 year
NB
5 year
NB
13-15 
21-23 
18-20 
26-28 
19-21 
28-30 
36-38 
51-53 
5 year: Japanese built. NB: Chinese built vessel for 2016 delivery
“->” indicates direction compared to last week
*Based on Chinese built 64,000 dwt
Period fixtures (1 year and longer)
Vessel transactions (representative)
 'Polymnia' 2012 98,704 dwt dely Richards Bay 17 Jan 9
/13 months trading redel worldwide USD 7,500 daily +
USD 237,500 bb.
 'Danae' 2001 75,106 dwt dely Bayuquan 16 Jan 11/14
months trading redel worldwide USD 7,650 daily.
 'Santa Barbara' 2015 179,426 dwt dely ex yard Beihai
13/17 Jan 11/14 months trading redel worldwide USD
12,000 daily.
New building
Bohai Shipyard contracted 1 x 210,000 dwt with PSU
Shipping Group at undisclosed price, with delivery 2016.
Second hand
 M/V Blue Matterhorn (81,000 dwt blt '11 Hyundai) sold
at USD 22 mill. to Greek Buyers.
 M/V Verdi (58,000 dwt blt '07 Tsuneishi Zhoushan)
sold at region USD 15 mill to Technomar.
 M/V Bikan (52,000 dwt blt '01 Sanoyas) sold at USD
9.7 mill to Indonesian Buyers.
This report is based on our knowledge of relevant market conditions. Our estimates are made on the basis of this knowledge, but other circumstances, or new circumstances, as well as general uncertainty could cause
the market to develop differently. We take general reservation for misprints. © All rights reserved. No part of this publication may be reproduced in any material form (including photocopying or storing it in any
medium by electronic means) without the written permission of the copyright owner. Likewise, any quoting is prohibited without the written permission of the copyright owner.
Source: Baltic Exchange
USD/day
Handy
Supra
Panamax
Cape
Jan. 15
6,384
7,688
6,114
6,983
Baltic Daily Forward Assessment
USD/day
Source: Baltic Exchange
Handy TC
Supra 5TC
Panamax 4TC
Cape 4TC
Jan
6,588
7,958
6,167
5,440
Feb
6,363
7,496
6,742
6,900
Q2 15
7,325
8,141
7,883
9,060
Q3 15
6,875
8,071
7,433
10,935
Q4 15
7,563
8,767
8,400
15,005
Q1 16
6,825
8,008
7,708
9,160
Cal 16
7,413
8,394
8,375
11,980
Cal 17
7,788
8,554
8,658
13,390
Cal 18
8,213
8,881
8,925
14,360
Market drivers
 China’s steel export reached a record high in December with
10.2 million tons. Thereby total steel export for 2014 ended at 93.8
million tons – up by 50% compared to 2013. The growing export has
been caused by weaker demand from China’s construction sector
pushing excess Chinese steel production into international markets.
Exports in 2015 is however expected to fall after the government
canceled export tax rebates for steel alloys that contain boron.
 China’s import of iron ore in December also reached a new
record with 86.9 million tons – up by 29% compared to November.
Despite this large volume, Chinese iron ore inventories declined
through December – suggesting improvement in underlying demand.
Imports throughout 2014 totaled 932.5 million tons compared to
820.3 million tons in 2013. The price of iron ore fell 47% in 2014,
which supported an increase in demand.
 After declining since the end of November, the Capesize Baltic
rates have been adjusted upwards this week. Since end last
week the rates have moved up by 56%.
 The World Bank has cut its forecast for global growth in 2015
to 3% down from 3.4%.