HANSA 06-2019

Märkte | Markets
Orders & Sales
New Orders Container
The situation on the new
building market remains
unchanged. No orders were
placed during this reporting
period. The increased level
of uncertainty regarding
the freight market, as well
as the tighter finance conditions
continues to derail interest
for fresh orders.
Secondhand Sales Container
Activity on the 2 nd hand market
picked up compared to the
previous reporting period. In
total we recorded eleven transactions
including three en
bloc deals. The ratio of vended
panamax vessels was particularly
high. Sinokor purchased
»Venice Bridge« (4,738 TEU,
2005 Korea built), »Astoria
Bridge« (4,228 TEU, 2009 Korea
built), »Baltimore Bridge«
(4,432 TEU, 2010 built) and
»Athens Bridge« (4,228 TEU,
2009 Korea built) en bloc. A
further deal encompassed
two 2012-built 13,100 TEU
boxships. US-based investment
firm En Trust Global
paid a combined 150 mill. $.
for both ships.
In the feeder segment, Borealis
sold the 2003 built »Puccini«
to Dubai`s Marshal Shipping.
The 2,496 TEU vessel
was acquired for 7.1 mill. $.
Demolition Sales
The recycling markets saw
some signs of slowing down.
The monsoon and cyclone
season, but also the Ramadan
celebrations which started
on May 5 th slowed down
the pace of business activities.
Nevertheless, demolition
prices remained stable
and oscillated between 405 $
and 478 $/ldt on the Indian-subcontinent.
The highest
price achieved the 2,526 TEU
ship »Elafonisos«, which was
sold for 478 $/ldt to India.
Jan Göldner
COMPASS
Container ship t / c market
500
450
400
350
15.11.18
Container freight market
16.05.19
Month on Month402 • + 1.0 %
WCI Shanghai-Rotterdam 1,493 $/FEU + 9.8 %
WCI Shanghai-Los Angeles 1,419 $/FEU - 5.7 %
Baltic Dry Index jumps over 1,000 points
Appetite for large tonnage has also been the main driver in the
dry bulk market of late, pushing the Baltic Dry Index up by more
than one third to over 1,000 points for the first time since January
2019. The time charter average for big capesize carriers almost
doubled over the past four weeks and the forward curve picked up
as well, showing rate indications a few thousand dollars above spot
for next month.
The »capes« had previously hit rock bottom mainly because of a
sharp slowdown in seaborne iron trades following the Brucutu mine
disasters in Brazil and severe hurricane damage to iron ore ports in
Australia.
However, iron ore fixing activity ex Australia has now returned to
more normal levels while fronthaul activity from the Atlantic to the
Far East picked up as well. There is also continued period demand for
tonnage at index-based levels (up to 24% above 5 tc). Of note, one older
180,000 dwt unit just agreed 15,500 $/day for one year, underlining
renewed confidence among charterers.
Panamaxes can also look back on a fairly successful month with a
notable rise in spot earnings. According to broker reports, the grain
export season on the East Coast of South America offered fair tail
winds for owners.
The outlook for this year’s export season was dampened by the outbreak
of African swine fever in China where many millions of hogs
are now getting culled.
This could translate into a sharp fall in soya been imports given that
the oil seed is mainly used for animal feed. However, there has been no
major impact on freights so far. Instead the ECSA season also offered
plenty of employment to supramaxes (52,000-58,000 dwt) which also
notched up a 9% rise in spot earnings month-on-month. Most of the
improvement is driven by the Pacific, though, particularly by a rise in
minerals trades (ores, coal) ex Indonesia.
n
Dry cargo / Bulk
Baltic Dry Index 1032 + 37.8 %
Spot time charter averages ($/day)
Capesize 5TC average 11,705 + 95.3 %
Panamax 4TC average 10,023 + 12.0 %
Supramax 6TC average 8,464 + 9.2 %
Handysize 6TC average 5,728 - 3.7 %
Forward / ffa front month Jun´19 ($/day)
Capesize 180k 13,646 + 73.4 %
Panamax 74k 9,967 + 4.9 %
MPP
May ’18
$ 7,247
TMI
Toepfer’s Multipurpose Index
May ’19
$ 7,524
12,500 tdw MPP/HL »F-Type« vessel for a 6-12 months TC
Tankers
Baltic Dirty Tanker Index 697 + 9.0 %
Baltic Clean Tanker Index 504 - 12.7 %
Shortsea / Coaster
Norbroker 3,500 dwt earnings est. 2,250 €/d - 13.5 %
HC Shortsea Index 16.57 - 4.1 %
ISTFIX Shortsea Index 504 - 5.0 %
Norbroker: spot t/c equivalent assessment basis round
voyage North Sea/Baltic; HC Shipping & Chartering index
tracking spot freights on 5 intra-European routes; Istfix
Istanbul Freight Index covering spot freight ex Black Sea
Bunkers
IFO 380 Rotterdam $/t 411 +/- 0.0 %
MGO Rotterdam $/t 611 + 3.5 %
Forward / Swap price Q3 / 19
IFO 380 Rotterdam $/t 386 +/- 0.0 %
Data per 16.05.2019, Alterations within four weeks
HANSA International Maritime Journal 06 | 2019
9