SSG No 10 - Shipgaz

MARKET REPORTS
Rates and fixtures week 19
Shortsea dry bulk market report
Baltic. The Baltic market has clearly taken
a breather this week with a significant drop
in activity combined with weaker rates.
Prompt tonnage supply is building up in
the whole region forcing owners to accept
rate cuts in order to cover their promptest
positions. Still owners able to book ahead
are putting bullish numbers on their
indications, but presently it seems unlikely
that the market will manage to remain at
present level as tonnage is getting more
and more visible.
Activity level: Slower
Scandinavia. It has been very difficult to
book ahead also in Scandinavian waters
with more tonnage showing along the
coast of Norway and in Kattegat. Rates
have remained mostly unchanged, but spot
orders have attracted much more attention
from owners this week indicating that
they have fewer options to play. Still good
activity in project cargo movements from
Denmark and Poland to Norway and the
UK this week, but also small coasters are
beginning to see a dip in demand.
Activity level: Slower
UK/Continent. Activity has also dropped
on the Continent with owners looking
for suitable employment to take them to
Baltic or south to Mediterranean. 2,000 mt
soya meal from ARAG to Latvia is paying
in region of EUR 12–12.50 while 3,000
mt minerals from ARAG to N.Spain were
fixed at EUR 19.50 p/mt. Resent increases
in fuel costs have so far not been compensated
in freight rates, and there is reason to
7,000
6,000
5,000
4,000
3,000
2,000
1,000
20
25.000 shipping
professionals
read this ad
believe that current lack of momentum will
make it difficult to push for rate increases.
Activity level: Slower
Mediterranean. Both western and Eastern
Mediterranean are seeing good activity and
volume flow with rates remaining mostly
unchanged on major trading routes. Wheat
continues to dominate the market in western
regions while minerals seem to be the
main taker for tonnage ex Turkey and Black
Sea. Still no change in activity, but tonnage
availability might build up as ships arrive
from Northern Europe in coming weeks.
Activity level: Active
Fixtures
– 2,500 mt agriprod 60’ North Sea/WC
Greece fixed EUR 64 p/mt
– 3,000 mt minerals WC Greece/Span Med
fixed USD 35 p/mt
Advertise in Scandinavian Shipping Gazette. www.shipgaz.com
earning estimates past 12 months
EUR/day
■ 1,000–1,500 DWT ■ 1,500–2,000 DWT ■ 2,000–3,000 DWT
■ 3,000–4,000 DWT ■ 6,000–7,000 DWT
25
– 2,000 mt minerals WC Norway/Klaipeda
fixed EUR 19.50 p/mt
– 2,000 mt minerals ARAG/SC Norway
fixed EUR 14.50 p/mt
norbroker shipping & trading as,
flekkefjord, norway
84 SCANDINAVIAN SHIPPING GAZETTE • MAY 16, 2008
30
35
40
45
50
1
5
10
15
Week
earningS eStiMateS on t/C
BaSiS per day (Modern, Box)
Size Week 19 Week 18
1,250 DWT EUR 1,950 EUR 2,000
1,750 DWT EUR 2,100 EUR 2,150
2,500 DWT EUR 2,600 EUR 2,650
3,500 DWT EUR 3,550 EUR 3,600
6,500 DWT EUR 5,400 EUR 5,450
MarKet SnapShotS
Week 19 Week 18
Brent USD 122.39 USD 118.60
MGO Rotterdam USD 1,134.00 USD 1,068.00
IFO180 Rotterdam USD 566.50 USD 527.00
EUR/USD 1.54 1.57