Page 43: of Maritime Logistics Professional Magazine (Mar/Apr 2018)

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BULK CARRIER REPORT around $12.0k/day. In contrast, 2017 Q4 was far stronger, with

Where are we in the cycle?

Earlier this year, Barry Rogliano Salles, a shipbroker based hires of $19.8k/day (Oct.), $21.3k/day (Nov.) and $25.6k/day in Paris, with a worldwide offce network, pronounced the (Dec.). So, which direction is the market heading?

Addressing that pressing question, MSI also looks closely at drybulk market, as having entered a “long-awaited recovery.” other drybulk size categories. MSI’s lead drybulk analyst, Will

For their part, they offer, “After the record lows of 2016, ex- pectations for a better shipping market in 2017 emerged from Fray, insists, “At the end of February daily Panamax earnings the beginning. As usual, the Capesize sector closely followed pushed above Capes and have remained above Capesize earn- developments in the commodity markets. In particular, higher ings so far in March.” The end February 2018 hires, nearing iron ore prices encouraged miners to ship as much material as $12k/day, compare with a high of around $12.7k/day reached in December, 2018. On the smaller sizes, Fray adds, “Strong possible, as soon as possible, and this created infationary pres- sure on freight. With spot cargoes deep in the money, shippers support is expected from minor bulks trade this year and MSI is forecasting Supramax earnings of $12.0 k/Day in May and were content to pay a few cents more to secure prompt ships.” $11.7 k/Day in August.”

Vessel hires rebound in 2017

Supply and Demand

Maritime Strategies International (MSI), London (UK) based

Positive views stem, in part, from a tighter supply situation freight market analysts, writing in the March edition of its Dry – the rate of expansion for the overall drybulk feet is way

Bulk Freight Forecaster, said, “Slow feet growth and stron- ger demand will support earnings this year. We’re forecasting down from previous years (and possibly less than increases an increase of between 17% and 28% for spot earnings across in demand, in certain sectors). On a drybulk themed panel, at all bulker benchmarks by May.” But, analysis of spot hires Capital Link’s Shipping Forum in mid-March, Mr. Stamatis (on a timecharter basis, which is net of fuel and port costs) Tsantanis, the CEO of Seanergy Maritime Holdings, an owner by MSI shows that Capesize vessels (typically 180,000 dwt) of 11 vessels, including nine capsize bulkers, said: “There is very limited shipbuilding capacity … to build additional ships were earning $14.5 k/day and $11.5K/day in January 2018 and

February 2018 respectively. Clarksons and Baltic Exchange … in many countries, like China, they have consolidated some data show the March spot hires noted above, working back to of the bigger yards.” He added that yards in South Korea are

The New Orleans, a Capesize bulker of 180,960-dwt, built in 2015, was fxed to charterer

SwissMarine for 11 to 13 months trading with 25 March delivery China at $21,000 daily.

©alper boler / MarineTraffc.com www.maritimelogisticsprofessional.com 43

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