Ships of the Year

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MARKET REPORTS Wet – OPEC cut hits tanker market next year The oil producing nations’ organisation OPEC will meet before Christmas and it’s likely that a decision will be taken to cut production by 1–1.5 million barrels a day to hike oil prices. This will hit the number of fixtures from Middle East, West Tankers will be hit by OPEC reductions and slowing demand next year. When dry bulk owners give away their vessels at operating cost, new trade patterns for grain emerge. “Ocean shipping costs are so low that it would be cheaper for south Indian buyers to import Russian wheat than move wheat from north India by train”, says a trader to the news bureau Reuters. Producers in Russia and Ukraine are now finding customers in Asia and South America, far beyond their traditional markets in Europe and Middle East. This could however be a short-lived phenomenon. Last week saw the Capesize time charter average almost double to USD 4,500 per day as China reappeared on the market with cargoes from India and some from Australia, reports Fearnleys. According to Clarksons, the average earnings for Capesize vessels hiked by more than 100 per cent last week to USD 9,030 per day on a week-to-week basis. In the Panamax sector, rates continued to slide in a softening market prior to the holidays, and the pick-up in the Capesize market did not fuel the Panamax sector. Africa, North Africa and the Caribbean. Additionally, there will be pressure on the oil demand side also next year. The IEA predicts consumption to grow marginally next year, while the US agency EIA expects a fall by 450,000 barrels per day. USD 3,300 was reported for a Transatlantic round-voyage. The Clarkson average earnings estimate for a modern vessel stood at USD 4,366 per day, down by more than 25 per cent on a week-to-week basis. Last week saw little activity in the Handy department, with fixes around USD 8,000 Last week saw a halt in the VLCC markets, especially from West Africa, where fixes for USAC bound cargoes slumped from WS 195 to WS 147.5. The North Sea Aframax market was stable with rates hovering around WS 185, reports Fearnleys. The Clarkson average earnings estimate fell by nine per cent to USD 66,123 per day. The Aframax earnings estimate fell by as much, to USD 64,592 per day. This is however well above the USD 46,816 average for 2008. The Baltic LR market was two-tiered with modern vessels fixed at WS 160-170 basis 60,000 tons, while older vessels had to settle with around WS 115. Rates were stable for handies in NW Europe at WS 215 basis 22,000 ts. Clarkson also reports steady earnings on most dirty and clean products trades, with a Baltic to UK/Continent fetching around USD 16,364 in a fix per day in earnings. The average earnings for a clean loaded handy was steady at USD 22,298. Dry – Cheap freight changes trade patterns 250,000 200,000 150,000 100,000 50,000 0 Jan ’07 Apr ’07 for an Atlantic round voyage. According to Clarkson Research, there is just to many vessels open and to few cargoes in the market, leading to an almost 10 per cent fall in daily average earnings, to USD 5,250 per day. rolf p nilsson 80 SCANDINAVIAN SHIPPING GAZETTE • DECEMBER 19, 2008 Jul ’07 CONNY WICKBERG Dry bulk freight development Atlantic round voyage,USD/day � Capesize � Panamax � Handymax Oct ’07 Jan ’08 Apr ’08 Jul ’08 Oct ’08 Source: Fearnleys/SSG, December 12, 2008
BUNKERS AND CRUDE OIL TREND Week Rotterdam Bunkers Crude Oil 380 cSt, USD/t MDO, USD/t Brent, spot IPE, USD/brl 44 251 575 60.44 45 238 579 56.86 46 214 531 52.14 47 198 492 47.30 48 223 487 49.03 49 190 430 40.45 50 210 427 43.92 Quotations Friday each week. Source: Stockholm Chartering, www.stochart.com CRUDE TANKER MARKETS Size Route Week Worldscale Earnings (USD/day) VLCC Persian Gulf–UKC C/S 44 65.0 56,000 280,000 45 60.0 51,500 46 60.0 53,200 47 52.5 44,100 48 45.0 31,700 49 65.0 62,600 50 55.0 46,000 Suezmax Cross Med 44 180.0 86,600 130,000 45 160.0 74,400 46 130.0 56,500 47 120.0 50,900 48 140.0 62,400 49 175.0 86,700 50 150.0 69,600 Aframax North Sea–UKC 44 170.0 58,800 80,000 45 120.0 32,500 46 110.0 28,100 47 105.0 26,200 48 110.0 27,800 49 190.0 72,200 50 170.0 60,700 Quotations Friday each week. Source: Stockholm Chartering, www.stochart.com News, facts & statistics on shipgaz.com Advertise in The Scandinavian Shipping Gazette. www.shipgaz.com SHARE PRICE INDEX MARKET REPORTS Index 12/12 5/12 OSE2030GI** 161.39 154.94 **OSE2030GI includes the shipping companies listed on the Oslo Stock Exchange. DRY CARGO MARKETS, LARGE CARRIERS Size Route Week USD/ton Single voyages Capesize Tubarao–Rotterdam 44 6.50 165,000 Iron Ore 45 6.50 46 5.30 47 5.20 48 5.00 49 4.20 50 4.65 Tripcharter Av. Earnings (USD/day) Panamax Cont–Far East 44 11,000 70,000 45 11,000 46 11,300 47 11,000 48 9,300 49 7,000 50 6,200 Handymax Transatlantic, round voyage 44 7,000 45 6,500 46 8,500 47 9,000 48 8,000 49 8,500 50 8,000 Source: Fearnleys, www.fearnleys.no SCANDINAVIAN SHIPPING GAZETTE • DECEMBER 19, 2008 81
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24 Ships of the Year Growing market
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HEAD OFFICE P.O. Box 370, SE-401 25
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REBuBlIC of KoREA NAVy Clean-up aft
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PäR-HENRIK SJöSTRöM The Sea Wind
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KySTVERKET The Crete Cement. Crete
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PäR-HENRIk SjöSTRöM Managing dir
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Large tankers is a target group tha
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... new content
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... new layout.
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AkER ARCTIC TECHNoloGy Due to budge
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Steen Bryde and his private empire
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The Best "à la carte" Marine Servi
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SHIPS OF THE YEAR The Aura with a d
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SHIPS Of THE yEAR The post panamax
Page 30 and 31: SHIPS Of THE yEAR The main restaura
Page 32 and 33: SHIPS OF THE YEAR Rebuilt before fi
Page 34 and 35: SHIPS OF THE YEAR The very last one
Page 36 and 37: SHIPS OF THE YEAR cargo pumps have
Page 38 and 39: SHIPS oF THE YEAR Sweden’s larges
Page 40 and 41: SHIPS OF THE YEAR The crew’s fami
Page 42 and 43: SHIPS OF THE YEAR Fugro Saltire goe
Page 44 and 45: SHIPS OF THE YEAR The tanker in the
Page 46 and 47: SHIPS OF THE YEAR Sun deck with the
Page 48 and 49: SHIPS OF THE YEAR A true pioneering
Page 50 and 51: SHIPS OF THE YEAR First out in the
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Page 54 and 55: SHIPS OF THE yEAR MærSk Topper Bui
Page 56 and 57: SHIPS OF THE YEAR Marinor concludes
Page 58 and 59: SHIPS OF THE YEAR No internal struc
Page 60 and 61: SHIPS OF THE YEAR Oratank is the se
Page 62 and 63: SHIPS OF THE YEAR The Ruth Theresa
Page 64 and 65: SHIPS OF THE YEAR Four 11,000 DWT t
Page 66 and 67: SHIPS OF THE YEAR The Skandi Acergy
Page 68 and 69: SHIPS OF THE YEAR New concept on th
Page 70 and 71: SHIPS OF THE YEAR The Viking XPRS i
Page 72 and 73: SHIPS OF THE YEAR The passenger are
Page 74 and 75: technical news Editor: Robert Herma
Page 76 and 77: fleet news Editor: Pär-Henrik Sjö
Page 78 and 79: MARKET REPORTS Newbuilding contract
Page 82 and 83: Sailed under three Nordic flags In
Page 84: POSTTIDNING B
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