Port Queues Comprise 18% Of World’s Capesize Fleet
16-06-2009
There is currently a total of 154 Capesize vessels waiting to berth at load and discharge ports in Australia, Brazil and China, according to the latest data from local sources. This equates to around 18% of the world’s Capesize fleet.
The chart below demonstrates the swings in the number of Capes waiting to berth at terminals in these three countries, which have corresponded to gains and losses in the freight market.
At the freight market peak in early June 2008, a total of 115 Capes were waiting to berth. By the time of the market collapse at the end of November, unwinding in congestion had effectively “released” 75 Capes on to the market. Since then rises and falls in congestion have led to large fluctuations in Cape fleet supply.
The current total of 154 represents a rise of 75 on the late March total and helps account for the subsequent gains in Capesize freight rates over this period.
Chronic congestion at China accounts for a record total queue of 87 Capesizes with waiting times at some ports rising to three weeks. This has led to substantial increases to round voyage times, which, coupled with the ballasting required, has further slashed available fleet supply.
News
New Record for Australia’s Iron Ore Exports, Coal Exports Up
02-07-2009
Australia’s iron ore exports hit a new record of 34.0 Mt in May, some 3.2 Mt higher than the previous record set in July 2008. The May total was up by 4.9 Mt over April and up by 4.4 Mt yr-on-yr. A ... [more]
North Sea Loading Schedules Rise
02-07-2009
North Sea July loading schedules for the 8 principal Norwegian and UK crude oil systems are forecast to jump 19%, or 350k b/d, month-on-month to 2.2m b/d as several maintenance schedules complete, ... [more]
Russian Crude Exports Set To Fall
02-07-2009
Crude exports from Russia are set to fall 147k b/d month-on-month in July to 2.54m b/d, down from 2.69m b/d in June and 2.75m b/d in May, due to continued work on Russia’s pipeline network, reports ... [more]
US Crude Stocks Fall, Gasoline and Distillate Rise
01-07-2009
US crude stocks fell 3.7m bbl last week to 350.2m bbl, but remained 17% higher y-o-y, as imports rose 79k b/d to 9.36m b/d, according to the latest data from the US Department of Energy. Gasoline ... [more]
India’s Crude Imports Rise In May
30-06-2009
India’s crude imports rose 19% in May y-o-y to 12.02 million tons, or 2.84m b/d, after declining 12% y-o-y in April after refineries re-opened after maintenance shutdowns, reports Bloomberg. Fuel ... [more]
Events
Coaltrans India
03-03-2009 - 04-03-2009
SSY Consultancy & Research were represented at Coaltrans India by Peter Norfolk, Director. His paper "Understanding a New Shipping Dynamic" examined whether the most recent Capesize-led rally represented a fundamental improvement in the ... [more]
Argus Americas Crude Summit
26-01-2009 - 28-01-2009
Speaking at the Argus Americas Crude Summit in Houston, John Kearsey of SSY Consultancy & Research identified some of the key factors expected to impact on tanker freight rates in 2009. ... [more]
McCloskey’s Australian Coal Conference
06-11-2008 - 06-11-2008
Derek Langston, Research Manager at SSYs Research Dept in Singapore, presented a paper on dry bulk freight prospects. Given the timing of the event, his paper was one of the first to react to the dramatic slump in the markets. The conference ... [more]
Markets
Sale & Purchase
26-06-2009
The past weeks has seen the Baltic Dry Index see-sawing around 4,000 points and despite a downward movement this week the general level of interest on the Sale and Purchase market ... [more]
Dry Cargo
Capesize
26-06-2009
The Cape index fell by USD 11,000 this week as the market waited for the recent cargo demand to return. With a relatively quiet start to ... [more]
Atlantic Panamax
26-06-2009
While some owners were confident they would see better rates this week, the little grain movement and fresh tonnage on the market from ... [more]
Pacific Panamax
26-06-2009
The week began on a quieter note than last week with owners looking to still try and achieve the USD 25,000 level for Pacific rounds. ... [more]
Atlantic Handysize
26-06-2009
The rollercoaster Atlantic market took another turn this week. The improving market of last week went into reverse. The main reason for the ... [more]
Pacific Handysize
26-06-2009
The Indian Ocean has firmed this week, on the back of South American as well as South African cargoes. Supramaxes ex the West Coast were ... [more]
Tankers
29-06-2009
Freight rates for VLCC tankers firmed last week, while preliminary reports suggest that Asian refiners are boosting eastbound liftings of ... [more]
Chemicals
22-06-2009
Americas: Contractual volumes are holding on the USG/Mexico service, whilst on the spot market 4,000t caustic was booked USG/Mexico at ... [more]
Gas
LNG
25-06-2009
The first Chinese-built LNGC, the "Dapeng Sun" (147,200cbm, blt 2008) is out of service and is to undergo repairs at ... [more]
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