Who is?

Hi. I am a shipping company director, transport academic, author, family man and all round nice guy. I have worked as shipbroker, shipowner, freight trader and bulk charterer, in senior positions, with some of the largest and most disrespected (joke) companies in the world. Ask my advice on all things shipping and you will receive my blunt and always honest answer. Hang around to learn more about chartering and ship broker salaries, chartering and ship broker jobs, chartering and shipbroker recruitment agencies, cheap freight, maritime education, chartering and ship broker qualifications, become a ship broker, tips on how to be a successful bulk shipping executive, philosophy, Zen and the art of shipbroking, and much more. Yours The Virtual Shipbroker (recently proclaimed the guru of shipbroking) Copyright © 2009-17 by Virtualshipbroker

Tuesday, November 27, 2012

My latest market commentary

Reuters latest with some spice from yours truely

Qte

Nov 27 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, rose on Tuesday helped by slightly higher rates for panamax ships.
The overall index, which reflects daily freight market prices for capesize, panamax, supramax and handysize dry bulk transport vessels, rose 0.27 percent to 1,097 points.

The panamax index rose 0.2 percent, with average daily earnings up $10 at $8,163.
Panamaxes typically transport 60,000-70,000 tonne cargoes of coal or grain.

Sentiment for panamax vessels remains positive overall for the next few weeks but could change if we do not see any new shipments hit the market, said Andy Jamison, shipping blogger and owner of the Virtual Shipbroker.

Pre-winter stocking has taken place and coal inventories are up in China, Jamison said.
After a positive couple of weeks there seems to be a softer feeling to the Atlantic market, Jamison said.

However, he expects the panamax market to hold up a little longer as there is still a plenty of operators in the market for coal stems.

The Baltic's capesize index fell two points to 2,275 points.

Average daily earnings for capesizes, which usually transport 150,000 tonne cargoes such as iron ore and coal, were down $66 at $16,291.

Shanghai steel futures touched two-month lows on Tuesday as winter reduced demand from the construction sector in top consumer China and sent spot prices for raw material iron ore to their weakest since October.

Iron ore shipments account for around a third of seaborne volumes on the larger capesizes, and brokers said price developments remained a key factor for dry freight.
Average daily earnings for handysize ships were up $70 at $6,468, while those of supramax ships were up $102 at $7760.

 Unqte

The Virtual Shipbroker

2 comments:

  1. What is the Baltic Dry Index break even point for ship owners to operate considering current ship building price and charter rates? In other words the lowest the BDI can get before ship owner starts making loss.

    ReplyDelete
  2. VS did you receive my initial email, and follow up? My comment asking wasn't approved.... can you please get back to me when you get a chance? Thanks a lot man!
    Jay

    ReplyDelete