Panamaxes regain buoyancy via Indonesia (29 Nov 2017)

Buoyancy returns with growth in Indo roundsbuoyancy
Panamax trends on benchmark rates via Indonesia are firm if not overly ascendant with Indo rounds to South China oscillating within the US$ 9,000-9,500 daily range on 72-76,000 dwt tonnage. (p. 1)

Handy bulk owners content with slow-but-steady gains
Owners seem fine with the current return to positivity on Supramax routes, even as gains have been incremental at best. (p. 1)

Coasters: Robust business via Turkish Med
Imports and exports alike have been rather vibrant via the Turkish Med in recent days with grain imports from the Sea of Azov (5,000mt with stowage of 46′) to Mersin fetching about US$ 62/mt from Yeisk and US$ 64/mt from Azov port. (p. 2)

…continue reading in today’s BMTI Daily Report.

Prospects rise for market-wide resurgence – 21-Nov-2017

Supramaxes see new signs of supportUptrend
Rate trends have begun to look up for the embattled Supramaxes due to a resurgence among the biggest bulkers and a return of demand in SE Asia. (p. 1)

Firm trends remain in Black Sea coaster freights
Owners insist a strong upside remains in place, helping them get modest upgrades over last-done levels, however broadly speaking rates have moved only marginally upward in the past week, suggesting that they may have reached a momentary peak. (p. 1)

Containerships moving into reefer market share
Reefer ships transport 21% of all seaborne perishable cargo; their share of reefer capacity is only 5%. (p. 2)

…continue reading in today’s BMTI Daily Report.

Rumours of recovery heard from ECSA (15 Nov 2017)

Indo rounds drift back into the shadowsrecovery
On South China delivery, ships of 58-62,000 dwt via Indonesia are fixing no higher than US$ 7,500 daily on ECI redel and US$ 6,750 daily back to S. China. (p. 1)

Good news for Handies from South America?
Hefty rates are said to have been paid from ECSA, with Lauritzen rumoured to have taken a 38,000 dwt vessel from North Brazil via Plate to China at a rate significantly higher than US$ 15,000 daily. (p. 1)

Coasters: Bullish November cheers owners
Firm trends are most likely to continue through the remainder of the month with some suggesting that the shift to December may drive another spike as new cargoes enter for year-end requirements amid an even tighter tonnage supply. (p. 2)

…continue reading in today’s BMTI Daily Report.

Sense of stability returns to some areas (6 Nov 2017)

Eastern Cape rates start to stabilize Capesize
Pacific rounds have started to firm at around US$ 19,000 DOP on modern 180,000 dwt tonnage, seeming to suggest that there is more strength in the East than the West at the moment. (p. 1)

Pacific Handysize rates sustain minor corrections
Handysizes have fallen under the same pressures as the larger sizes, though discounts are notably minimal for week-on-week comparisons. (p. 2)

…continue reading in today’s BMTI Daily Report.

Panamax rates fall despite active market (30 Oct 2017)

Atlantic Panamax freights under pressure BPI
USG grain stems to CJK are concluding just over US$ 40/mt on modern tonnage at present, which is some US$ 2-3/mt lower than the business was able to fix in early October. (p. 1)

Coasters: Azov rates emerge ascendant
The longer hauls to North Africa and similar have seen more volatility than the shorter trips with rates to Israel going for as low as US$ 57/mt or as high as US$ 60/mt, depending on terms. (p. 2)

Handysizes retain role as single stable sector
Interestingly, Handysizes have pulled through the past week in the eastern basin with rates unscathed and even, in some cases, slight improvements from the week before. (p. 2)

…continue reading in today’s BMTI Daily Report.

Modulation returns as freights level out (27 Sep 2017)

Rate trends peak at three-year high
Dry bulk rates have collapsed on average with the BDI having declined for the first time in nearly two weeks. The index reached a 3.5-year high last week. Average Panamax earnings have stabilized at around US$ 11,750 daily on TC basis. (p. 1)

Eastbound Handies encounter turbulence
Handysize tonnage of 35,000 dwt was fixed to Morocco from Brazil at US$ 15,000 daily, which market is also showing signs of easing. (p. 1)

EUSSIXCoasters: September recovery continues apace
The ascendant trends that were kicked off in the last few weeks have come home to roost in the second half of September with firming movements observed all across the northern markets. (p. 2)

…continue reading in today’s BMTI Daily Report.

Bullish factors throughout market (25 Sep 2017)

Buoyancy returns to Capesize freightsbullish
Capesizes maintain their ability to surprise with a bullish week of recovery coming out of nowhere and proving uncertain if the wave would subside. (p. 1)

Business grows from South Africa for Supramaxes
From South Africa, the owners of a 56,000 dwt ship were seeing APS rates of US$ 12,000 daily plus US$ 325,000 BB for a front haul run, which was a level they deemed as low. (p. 2)

Pacific Handysize rates have best week in ages
Eastern Handysize rates have had big increases, unlike their larger brethren, with US$500 WoW on average added to freights. (p. 2)

…continue reading in today’s BMTI Daily Report.

BMTI launches European Short Sea Index (EUSSIX)

European Short Sea Index (EUSSIX) for Dry Bulk and Break Bulk

BMTI is pleased to announce the first official publication of the European Short Sea Index in the BMTI Short Sea Report of 23 August 2017. To meet the need for a comprehensive indicator of Europe’s short sea mar­ket, BMTI has developed the “European Short Sea Index” or in abbreviated form “EUSSIX”.

The EUSSIX index is generated by weighted inputs from BMTI’s three main regional indices: Northern Europe, Mediterranean Sea and Black Sea-Azov. The EUSSIX, a directional index to be published on a weekly basis, is the result of the aggregated freights for dry bulk cargoes transported in Europe and adja­cent regions with ships between 1,000-20,000 dwt.

In contrast to deep sea and intercontinental mari­time transport, short sea shipping is restricted to relatively short distances along the coast and ships in the size range that fall below the typical Handysize vessel description. As such, the world recognized and referenced Baltic Dry Index cannot serve this sector of commercial shipping as a reliable economic indicator. The European short sea market has long needed such an index for its own vibrant and volatile market. BMTI, with years of experience intensively observing, analysing and collecting data from the sector, has decided to meet this demand with this new index, to be published on a weekly basis. In utilising relationships with Europe’s short sea in­dustry players, BMTI is in the process of expanding our freight inputs to strengthen the reach of the EUSSIX. Any additional short sea market players who would like to participate in contributing to this new short sea index are welcome to contact BMTI.

Index calculation is based on current data for dry bulk and break bulk freight rates in the European short sea market.


Freight uptrend remains for bulkers (16 Aug 2017)

Momentum remains in Capesize recovery
Capesizes have yet to run out of steam on the long haul assessments with US$ 300-400 added to trans-Atlantic rounds and Continental front hauls, pushing them toward US$ 17,250 daily and US$ 31,750 daily, respectively, on 180,000 dwt vessels. (p. 1)

Competition for tonnage in Red vs. Black Sea
Charterers searching for Supra tonnage from the Red Sea almost certainly compete with the Black Sea market, where front haul rates are still hovering at about US$ 16,000 daily. (p. 1)

Black Sea urea prices moving upward
Fresh interest in urea purchasing from Black Sea sources has boosted spot market prices significantly in the past week with sellers in Bulgaria and Romania getting upwards of US$ 210-215/mt FOB for prilled bulk urea, about 7% over the week before. (p. 2)

…continue reading in today’s BMTI Daily Report.

BMTI Investment Review – Cautious Buoyancy on Wall Street for Listed Bulker Firms (03.Aug.2017)

It was a mildly positive week for listed bulk carrier firms on Wall Street with the emergence of im­proved rates among the bigger bulker sizes helping boost stocks prices ever so slightly. DryShips Inc. [DRYS] ended the week back near US$ 1 per share after spiking by 50% at midweek. DRYS has been flirting with investor volatility all year with a series of reverse stock splits that have kept investors ready to pounce on the next opportunity for a quick turn­around. The rest of the more traditional listed stocks steadily rose through midweek with Navios Mari­time Holdings briefly rising 15% before ending the week at a 5% premium above US$ 1. Stronger stocks included Scorpio Bulkers Inc [SALT] which held steady all week near US$7.35 and Star Bulk Carriers Corp [SBLK], which climbed 3.5% over the week to close at just under US$ 10 per share. Safe Bulkers, Inc. [SB] increased by a respectable 8% through the week to end at US$ 2.6 per share on the NYSE.

One of the largest bulker companies in the world, Pacific Basin, has reached an agreement to acquire five bulk carriers for a combined US$ 104.6m. Own­ers welcomed the move as it would keep total bulker capacity from expanding while consolidating ton­nage simultaneously. The five vessels include one 2014-built Handysize, two 2014-built Supramaxes, one 2016-built Supramax and one resale Supramax.

A new joint venture, Ivy Shipping LLC, has been launched by Paris Kassidokostas-Latsis with the in­tent of acquiring Supramax and Panamax bulk carri­ers. The new JV has already acquired four Japanese-built Supramaxes of build year 2011 to be delivered next month and to be managed by Marla Ship­management Ltd. Mr. Kassidokostas-Latsis, who had previously invested in LPG and tanker ships, says his new direction into bulker was based on considering current market conditions, seeing potential in the market and collaborating with strategic investors.

…continue reading in today’s BMTI Daily Report.