HANSA 02-2019
Nord-Ostsee-Kanal | MSC Zoe | Reefer-Report | Nordfrost | MacGregor | Neues Bergungsmanöver | Ships made in Germany 2018 | Havarien & Brandschutz | Rudolf A. Oetker
Nord-Ostsee-Kanal | MSC Zoe | Reefer-Report | Nordfrost | MacGregor | Neues Bergungsmanöver | Ships made in Germany 2018 | Havarien & Brandschutz | Rudolf A. Oetker
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Orders & Sales<br />
New Orders Container<br />
Only three orders were<br />
placed during the last weeks.<br />
Evergreen ordered four<br />
2,500 TEUs at Jiangnan, the<br />
first ever newbuilding contract<br />
placed in mainland China<br />
(in total 130 mill. $). The<br />
new German-Chinese shipping<br />
company Gerchicon ordered<br />
up to nine 2,300 TEU<br />
unis (three firm, six options)<br />
at Zhoushan Changhong. In<br />
addition, US-based Dole ordered<br />
two plus two optional<br />
2,500 TEU vessels at Chengxi.<br />
Secondhand Sales Container<br />
JR Shipping acquired the<br />
1,436 TEU Chinese ice-class<br />
feeder (2011-built) »Alsterdijk«,<br />
»Aalderdijk«, »Akerdijk«<br />
and »Amerdijk« for 37 mill. $.<br />
»Cafer Dede« and »Ibrahim<br />
Dede« were acquired by Capital<br />
Maritime for 9 mill.$ each.<br />
In general, market activity<br />
stays on a low level, as sellers<br />
are not receiving the bits they<br />
would sell for.<br />
Demolition Sales<br />
The world market price for<br />
iron ore oscillates around<br />
74.5 $/t. After a setback during<br />
November, prices were<br />
able to recover. Expectations<br />
of a boost in demand for the<br />
steel-making raw material<br />
from Beijing`s moves to<br />
stimulate the slowing Chinese<br />
economy could be a reason<br />
for that. Recycling activity<br />
remains at a similar level<br />
as in the last reporting period,<br />
with demolition prices oscillating<br />
around $450 $/ldt. The<br />
highest price was achieved by<br />
the 5,018 TEU »CSL Virginia«,<br />
which was sold to Bangladesh<br />
at 488 $/ldt. After a<br />
collision last year with RoRo<br />
ship »Ulysse«, the Greek owners<br />
decided to offload it.<br />
<br />
Jan Göldner<br />
also trended weaker towards the end of<br />
the year. According to shipbroker Simpson<br />
Spence Young (SSY), the result was<br />
that the fourth quarter of 2018 saw the<br />
largest quater-on-quarter drop on record<br />
(in absolute terms) in China’s combined<br />
imports of iron ore, coal and grains.<br />
The result was a fall in fleet utilisation<br />
and bulk carrier earnings that seems to be<br />
reaching its climax now. The question is<br />
how long it will take trade growth to gain<br />
traction again and to what extent China<br />
inbound trades will continue to expand.<br />
Although steel production continues to<br />
rise following a 6.6% increase in China<br />
last year and although miners – especially<br />
in Brazil – bring on more capacity to serve<br />
Chinese customers, there are signs of saturation.<br />
Clarksons Research forecasts no<br />
more than 0.4% growth in Chinese iron<br />
ore imports this year. Coal volumes are<br />
even expected to fall by 2.0% due to curtailments<br />
and the »greening« of China’s<br />
energy sector.<br />
Demand for soyabeans in China may<br />
also remain muted due to weaker demand<br />
for animal feed after the nationwide outbreak<br />
of African swine fever, SSY warned.<br />
As a result, sentiment in dry bulk shipping<br />
has taken a hit as illustrated by the sharp<br />
deterioration in freight futures prices. The<br />
time charter average for capesize vessels<br />
was trading at only 13,000-14,000 $/day<br />
for the first and second quarters at the end<br />
of January while those for panamaxes, supramaxes<br />
and handysize bulkers were all<br />
hovering below 10,000 $/day.<br />
Positive expectations right now are<br />
more or less limited to trades served by<br />
those smaller vessels. SSY highlights expected<br />
increases in coal demand in India<br />
and rising grain imports in southeast<br />
Asia in its latest monthly review.<br />
Meanwhile, the shortsea bulk trades in<br />
Europe commenced the year in a muted<br />
fashion, too, with a backlog of spot tonnage<br />
weighing down on freights. The European<br />
Short Sea Index of market research<br />
firm BMTI was down by around<br />
2.0% month-on-month on 23 January.<br />
While freight levels in North Europe were<br />
relatively stable, the Mediterranean and<br />
Black Sea/Azov region showed falls of 3.0-<br />
5.0% month-on-month.<br />
COMPASS<br />
Container ship t / c market<br />
Container freight market<br />
Märkte | Markets<br />
Month on Month 390 - 4.4 %<br />
WCI Shanghai-Rotterdam 1,943 $/FEU + 9.5 %<br />
WCI Shanghai-Los Angeles 2,194 $/FEU + 17.0 %<br />
Average rates spot / up to 4 weeks validity<br />
WCI = World Container Index, supplier: Drewry<br />
Dry cargo / Bulk<br />
Dwindling OPEC output<br />
The rally in crude tanker spot earnings<br />
that started back in autumn also lost<br />
steam in January as peak season demand<br />
seemed to begin to fade while the OPEC<br />
production curb saw spot cargoes dwindle<br />
Baltic Dry Index<br />
Spot time charter averages ($/day)<br />
Capesize 5TC average<br />
Panamax 4TC average<br />
Supramax 6TC average<br />
Handysize 6TC average<br />
939<br />
13,373<br />
6,671<br />
6,784<br />
5,936<br />
- 26.1 %<br />
- 13.0 %<br />
- 40.0 %<br />
- 39.0 %<br />
- 30.0 %<br />
in the Middle East Gulf. As per 25 Jan-<br />
Forward / ffa front month Feb´19 ($/day)<br />
uary, time charter equivalents for VLCC<br />
and for aframaxes in the spot market<br />
Capesize 180k 11,683 - 28.2 %<br />
were down by 32% and 31%, respectively,<br />
month-on-month. Suezmaxes even suffered<br />
a 48% drop.<br />
Currently, brokers consider the market<br />
as fairly positional, with some pockets of<br />
strength (US Gulf and Caribs for VLCC<br />
and aframaxes) bucking the downward<br />
Panamax<br />
MPP<br />
7,300 - 34.1 %<br />
January ’19<br />
$ 7,593<br />
trend. General expectations for the<br />
TMI<br />
crude tanker spot market are still positive<br />
Toepfer’s Multipurpose Index<br />
based on 2-3% fleet growth vesus 3-4%<br />
trade growth this year. However, analysts<br />
January ’18<br />
$ 6,678<br />
such as Fearnley Securities now say that<br />
they don’t expect the »next supercycle« in<br />
The index is based on a 12,500 tdw MPP/HL »F-Type« vessel<br />
tanker earnings to kick in until the second<br />
half of the year.<br />
from operators, owners and brokers.<br />
for a 6-12 months TC and represents the monthly assessment<br />
Sentiment in the container ship market<br />
was put to the test once more as charter<br />
rates for all vessel types from panamax<br />
down to feeder type resumed their<br />
downward trajectory. Fixing activity was<br />
not too bad which – combined with the<br />
Tankers<br />
Baltic Dirty Tanker Index<br />
Baltic Clean Tanker Index<br />
shortsea / Coaster<br />
866<br />
668<br />
- 31.1 %<br />
- 18.8 %<br />
reactivation of liner-controlled vessels –<br />
Norbroker 3,500 dwt earnings est. 2,800 €/d - 2.0 %<br />
caused the idle container ship fleet to fall<br />
HC Shortsea Index 18.46 + 1.3 %<br />
to around 560,000 TEU (2.5% of worldwide<br />
fleet). It was not enough, though, to<br />
ISTFIX Shortsea Index 647 - 8.5 %<br />
halt the pressure on rates. The few segments<br />
that were bucking the trend were<br />
tracking spot freights on 5 intra-European routes; Istfix<br />
Norbroker: spot t/c equivalent assessment basis round<br />
voyage North Sea/Baltic; HC Shipping & Chartering index<br />
high-reefer 2,500 TEU ships and large<br />
Istanbul Freight Index covering spot freight ex Black Sea<br />
gearless vessels of 8,000+ TEU. n Data per 25.01.<strong>2019</strong>, Alterations within four weeks<br />
550<br />
500<br />
450<br />
400<br />
350<br />
24.07.18<br />
24.01.19<br />
<strong>HANSA</strong> International Maritime Journal – 156. Jahrgang – <strong>2019</strong> – Nr. 2 11