DOCSLIB.ORG

Intermodal Report Week 20 2016

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Intermodal Report Week 20 2016 Weekly Market Report th Issue: Week 20 | Tuesday 17 May 2016 Market insight Chartering (Wet: Stable + / Dry: So - ) The Dry Bulk market kept moving south last week, while the perfor- By Panos Makrinos mance of Panamax rates provided a much needed senment boost. The SnP Broker BDI closed today (17/05/2016) at 643 points, up by 30 points compared to Monday’s levels (16/05/2016) and an increase of 49 points when compared to previous Tuesday’s closing (10/05/2016). The crude carri- As we are approaching the end of the first half of the year, there is a number ers market moved sideways last week, with rates for Suezmaxes in the of market parcipants over at the dry bulk sector that have started wonder- MED region and for VLs going east overperforming the market. The ing whether they have missed out on the booming secondhand prices that BDTI Monday (16/05/2016) was at 734 points, an increase of 19 points the market witnessed during the end of last year and throughout the beg- and the BCTI at 475, a decrease of 33 points compared to last Monday’s ging of this one, when the BDI touched its lowest level ever, at 290 points. (09/05/2016) levels. Following this rather extended period of low rates, as the spring season Sale & Purchase (Wet: So - / Dry: Firm + ) kicked off, the steadier demand for dry bulk commodies together with the improvement in owner’s psychology helped the index move above 600 Modern dry bulk tonnage almost monopolized SnP acvity last week, points in April, a er more than five months. The improved market senment with Buyers displaying equal interest to all sizes while “snubbing” ves- has consequently helped second hand prices firm a bit during the past sels built prior to 2000. On the tanker side, we had the sale of the weeks. The posive momentum the market achieved was also helped by a “STAVANGER EAGLE” (45,898dwt-blt 04, Japan) which was sold to Chi- few developments that started drawing a healthier picture of the fundamen- nese owner, Shenlong Marime, for a price in the region of $16.0m. On tals ahead as a number of owners took steps that will more effecvely tackle the dry bulker side, we had the sale of the “KLARA SELMER” the tonnage oversupply issue. (176,000dwt-blt 12, China) which was sold to Greek owner, Marmaras, for a price in the region of $20.0m. From one hand, the intense scrapping that has taken place during this year is certainly pushing things towards the “right” direcon. We have seen ves- Newbuilding (Wet: So - / Dry: So - ) sels younger than what is considered the typical scrapping age being sold for Acvity, prices and senment, are all sll uerly depressed in the new- demolion. As expected, it was the bigger sizes that experienced the most building market that remains week over week in desperate search of impressive increase in demolion volumes. meaningful business volumes, while as industry fundamentals connue More than 230 bulkers have been sold for scrap this year and while in terms to worsen, price details surrounding the few reported deals become less of volumes we are around the same levels when compared to the same and less available to the public. Dry orders remain scarce, as both bulk- period last year, when you look at these volumes in terms of dwt, there is a ers and containerships have yet to shake off the respecve historical 2% increase. This means that bigger vessels are being sold for scrap, while in lows that have shaered senment in both sectors. At the same me, terms of age, the average scrapping age for bulkers has moved from 30 tanker ordering acvity remains comparavely beer but the majority years a couple of years ago to 24 years in 2016 so far. of the few orders that pop up here and there sll concern vessels of smaller dwt. As far as other less convenonal sectors are concerned At the same me, newbuilding acvity or the lack thereof has been dra- things are no beer either. Any newbuilding acvity in these sectors mac. Despite the fact that newbuilding prices are at exceponally low lev- goes hand in hand with specific projects like for example the offshore els, reflecng both the dire straits the industry has found itself in together of trio reported ordered by Topaz Energy, while what all of the above course with the almost non-existent appete for dry bulk ordering, there clearly signals is more consolidaon for the industry ahead. In terms of seems to be no hope for a spark in ordering for dry tonnage. On top of that, recently reported deals, Super Eco Tankers placed an order for two firm the few orders that are being reported are ght to specific projects. MRs (40,000dwt) at Hyundai Mipo, in S. Korea with delivery set in 2017- So despite the historically low rates, long term fundamentals are slowly 2018. improving for the dry bulk market. If high demolion acvity connues throughout the second half of the year and slippage this year remains high, Demolion (Wet: Stable - / Dry: Stable -) we could well see minimum dry bulk fleet growth in 2016 and even negave Buyers in the Indian subconnent are slowly moving towards the side- fleet growth within specific segments like Capes. If this is combined with lines as budget announcement are approaching, prices are stalling and healthy demand for dry bulk commodies from countries like India and a fears that the recent firming of the market can’t be sustained for much gradual strengthening of Chinese momentum that seems to have been lost longer are increasing over at the demolion front. The one thing that during the past year, things should further improve by next year. seems unaffected by all this is the supply of demo candidates that ap- The million dollar queson though is “by how much?” Will demand levels be pears to have totally “ignored” recent market developments and re- finally adequate to overcome the overcapacity issue that is finally being mains as robust as ever. The firm number of container vessels that has tackled by intense scrapping and absent ordering, or will demand be just been heading for scrap recently has also come to add to the once more enough to keep providing lifelines periodically to a market that won’t be increasing supply of bulkers. With dry bulk sector related scrapping able to break above 1,000 points for much longer? stealing the spotlight this year, the remarkable increase in the number of demolion sales of containerships so far in 2016 compared to the same period last year has been somewhat overshadowed. The laer is calculated at 48% in terms of vessels and a jaw-dropping 122% in terms of dwt, while this trend is expected to last at least unl the end of the tradionally weaker for containers third quarter. Prices this week for wet tonnage were at around 190-305 $/ldt and dry units received about 170-295 $/ldt. Tanker Market Spot Rates Indicative Period Charters Week 20 Week 19 2015 2014 $/day -12 mos - 'BRITANIS' 2002 304,700 dwt Vessel Routes WS WS $/day $/day±% $/day $/day - - $42,000/day - Litasco points points 265k MEG-JAPAN 70 60,806 65 54,751 11.1% 65,906 30,469 -24 mos - 'RS TARA' 2016 158,000 dwt 280k MEG-USG 37.5 25,134 37.5 25,381 -1.0% 49,575 17,173 - - $28,500/day - Vitol 260k WAF-USG 67.5 54,330 67.5 55,650 -2.4% 76,251 40,541 130k MED-MED 85 35,297 77.5 32,128 9.9% 50,337 30,950 TD3 TD6 TD9 DIRTY - WS RATES 130k WAF-USAC 67.5 22,998 70 24,014 -4.2% 40,490 24,835 520 470 Suezmax 130k BSEA-MED 86 36,951 77.5 33,177 11.4% 50,337 30,950 420 370 80k MEG-EAST 92.5 17,357 95 22,201 -21.8% 34,131 19,956 320 80k MED-MED 110 29,709 110 29,943 -0.8% 37,127 28,344 270 220 80k UKC-UKC 102.5 18,079 100 16,351 10.6% 39,338 33,573 WSpoints 170 120 70k CARIBS-USG 95 15,848 107.5 21,830 -27.4% 36,519 25,747 70 75k MEG-JAPAN 80 15,991 80 15,916 0.5% 30,482 16,797 20 55k MEG-JAPAN 103 15,036 100 14,446 4.1% 24,854 14,461 Clean37K UKC-USAC 116 10,110 VLCC 120 11,833 -14.6% 19,973 10,689 30K MED-MED 122.5 7,305 140 10,622 -31.2% 24,473 18,707 55K UKC-USG 110 17,489 92.5 13,644 28.2% 27,228 23,723 TC1 TC2 TC5 TC6 CLEAN - WS RATES 55K MED-USG 105 15,258 90 12,615 21.0% 26,083 21,089 270 Dirty Aframax 240 50k CARIBS-USAC 120 17,627 112.5 16,333 7.9% 27,146 25,521 210 180 TC Rates 150 WS points WS 120 $/day Week 20 Week 19 ±% Diff 2015 2014 90 300k 1yr TC 40,000 40,000 0.0% 0 46,135 28,346 60 VLCC 300k 3yr TC 37,000 37,000 0.0% 0 42,075 30,383 150k 1yr TC 29,000 29,000 0.0% 0 35,250 22,942 Suezmax 150k 3yr TC 27,000 27,000 0.0% 0 33,219 24,613 110k 1yr TC 25,000 25,000 0.0% 0 26,808 17,769 Indicative Market Values ($ Million) - Tankers Aframax 110k 3yr TC 22,500 22,500 0.0% 0 24,729 19,229 May-16 Apr-16 Vessel 5yrs old ±% 2015 2014 2013 75k 1yr TC 20,500 20,500 0.0% 0 23,596 16,135 avg avg Panamax 75k 3yr TC 19,500 19,500 0.0% 0 20,580 16,666 VLCC 300KT DH 74.5 75.5 -1.3% 80.9 73.8 56.2 52k 1yr TC 16,500 16,500 0.0% 0 17,865 14,889 Suezmax 150KT DH 52.5 53.4 -1.7% 59.5 50.4 40.1 MR 52k 3yr TC 16,000 16,000 0.0% 0 16,638 15,604 Aframax 110KT DH 39.5 40.0 -1.3% 45.3 38.9 29.2 36k 1yr TC 15,000 15,500 -3.2% -500 16,101 14,024 LR1 75KT DH 35.5 36.0 -1.4% 35.8 33.0 28.0 Handy 36k 3yr TC 15,000 15,000 0.0% 0 15,450 14,878 MR 52KT DH 27.3 27.5 -0.9% 27.3 27.5 24.7 Chartering Sale & Purchase The crude carriers market kept displaying a mixed picture last week, with the posive effects of an overall healthy Middle East on TCE being partly In the MR sector, we had the sale of the “STAVANGER EAGLE” (45,898dwt- offset by increasing oil prices and effecvely more expensive bunkers.
Load more

Recommended publications
  • Vale: How to Improve Its Competitive Advantage to Export Iron Ore Via The
    Vale: How to improve its competitive advantage to export Iron Ore via the Brazilian Maritime Terminal of Ponta da Madeira, through the enhancement of its infrastructures and processes? Picture: Aerial view of the Ponta da Madeira Maritime Terminal, Vale 2005.1 Picture: Aerial view of the Maritime Terminal of Ponta da Madeira. Vale 2015 1. Bachelor Project submitted for the Bachelor of Science HES in Business Administration with a Major in International Management Erisvelton TAVARES Bachelor Project Advisor: Dr. Nicolas DEPETRIS, HES Professor Geneva, Aug 14th, 2015 Haute Ecole de Gestion de Genève (HEG-GE) International Business Administration Declaration This Bachelor Project is submitted as part of the final examination requirements of the Geneva School of Business Administration, for obtaining the Bachelor of Science HES-SO in Business Administration, with major in International Management. The student accepts the terms of the confidentiality agreement if one has been signed. The use of any conclusions or recommendations made in the Bachelor Project, with no prejudice to their value, engages neither the responsibility of the author, nor the adviser to the Bachelor Project, nor the jury members nor the HEG. “I attest that I have personally accomplished this work without using any sources other than those cited in the bibliography. Furthermore, I have sent the final version of this document for analysis by the plagiarism detection software URKUND using the address supplied by my adviser”. th Geneva, Aug 14 , 2015 Erisvelton TAVARES i Vale: How to improve its competitive advantage to export Iron Ore via the Brazilian Maritime Terminal of Ponta da Madeira, through the enhancement of its infrastructure and processes? TAVARES, Erisvelton Acknowledgements This Bachelor Project was made possible through the support of many people who contributed to make it real.
    [Show full text]
  • Port Developments
    UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT REVIEW OF MARITIME TRANSPORT 2012 Report by the UNCTAD secretariat Chapter 4 UNITED NATIONS New York and Geneva, 2012 PORT DEVELOPMENTS :RUOGFRQWDLQHUSRUWWKURXJKSXWLQFUHDVHGE\DQHVWLPDWHG}SHUFHQWWR}PLOOLRQ IRRWHTXLYDOHQWXQLWV 7(8V LQLWVKLJKHVWOHYHOHYHU7KLVLQFUHDVHZDVORZHU WKDQWKH}SHUFHQWLQFUHDVHRIWKDWZDVLWVHOIDVKDUSUHERXQGIURPWKHVOXPS of 2009. Chinese mainland ports maintained their share of total world container port WKURXJKSXWDW}SHUFHQW 7KH81&7$'/LQHU6KLSSLQJ&RQQHFWLYLW\,QGH[ /6&, VKRZHGDFRQWLQXDWLRQLQ of the trend towards larger ships deployed by a smaller number of companies. Between 2011 and 2012, the number of companies providing services per country went down E\ } SHU FHQW ZKLOH WKH DYHUDJH VL]H RI WKH ODUJHVW FRQWDLQHU VKLSV LQFUHDVHG E\ }SHUFHQW2QO\}SHUFHQWRIFRXQWU\SDLUVDUHVHUYHGE\GLUHFWOLQHUVKLSSLQJ connections; for the remaining country pairs at least one trans-shipment port is required. This chapter covers container port throughput, liner shipping connectivity and some of WKHPDMRUSRUWGHYHORSPHQWSURMHFWVXQGHUZD\LQGHYHORSLQJFRXQWULHV,WDOVRDVVHVVHV how recent trends in ship enlargement may impact ports. 80 REVIEW OF MARITIME TRANSPORT 2012 A. PORT THROUGHPUT HFRQRPLHV IRU LV HVWLPDWHG DW } SHU FHQW signifying a return to previous year-on-year growth Port throughput is usually measured in tons and by levels. Developing economies’ share of world FDUJR W\SH IRU H[DPSOH OLTXLG RU GU\ FDUJR /LTXLG throughput continues to remain virtually unchanged at cargo is usually measured in tons
    [Show full text]
  • Explaining China's Politics in the Arctic
    From ‘Great Wall’ to ‘Great White North’: Explaining China’s politics in the Arctic By Malte Humpert and Andreas Raspotnik 1 LONG POST 2012|08|17 Published by European Geostrategy http://europeangeostrategy.ideasoneurope.eu Over the past decade, the Arctic has moved into the focus of world politics.2 As Arctic sea ice melts at a rapid rate, regional and international actors are strengthening their local involvement thus further focusing international attention on the region. External Arctic actors, primarily the European Union and the People’s Republic of China, but potentially also India and South Korea, aim to profit from the region’s various prospects. Geopolitical dynamics in the Arctic include the political consequences of climate change in the region; the subsequent rise of economic opportunities; and the increase of interna- tional competition on one hand, and multilateral co-operation on the other. Against pre- vailing perceptions, geoeconomics only plays a subordinate role in China’s Arctic endeav- our. While the Arctic may hold significant economic potential, its riches will not feature prominently in China’s future economic calculations. Instead, the driving force of China’s interest in the region is based on geopolitical considerations, including enhancing its abil- ity to exert influence in the Arctic through regional strategic partnerships. China’s recent political and economic efforts in the region indicate that China regards partnerships with smaller Arctic states as not only key to gaining influence in the Arctic, but
    [Show full text]
  • The Impact of Mega-Ships
    The Impact of Mega-Ships Case-Specific Policy Analysis The Impact of Mega-Ships Case-Specific Policy Analysis INTERNATIONAL TRANSPORT FORUM The International Transport Forum at the OECD is an intergovernmental organisation with 54 member countries. It acts as a strategic think tank with the objective of helping shape the transport policy agenda on a global level and ensuring that it contributes to economic growth, environmental protection, social inclusion and the preservation of human life and well-being. The International Transport Forum organises an Annual Summit of ministers along with leading representatives from industry, civil society and academia. The International Transport Forum was created under a Declaration issued by the Council of Ministers of the ECMT (European Conference of Ministers of Transport) at its Ministerial Session in May 2006 under the legal authority of the Protocol of the ECMT, signed in Brussels on 17 October 1953, and legal instruments of the OECD. The Members of the Forum are: Albania, Armenia, Australia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, Chile, China (People’s Republic of), Croatia, Czech Republic, Denmark, Estonia, Finland, France, Former Yugoslav Republic of Macedonia, Georgia, Germany, Greece, Hungary, Iceland, India, Ireland, Italy, Japan, Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Republic of Moldova, Montenegro, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Russian Federation, Serbia, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, Ukraine, United Kingdom and United States. The International Transport Forum’s Research Centre gathers statistics and conducts co-operative research programmes addressing all modes of transport. Its findings are widely disseminated and support policy making in Member countries as well as contributing to the Annual Summit.
    [Show full text]
  • PPCO Twist System
    DECEMBER 2012 VOL. 117 NO. 12 FEATURE ARTICLES FORESIGHT ENERGY/32 PRAIRIE STATE/38 28 China’s Deep Water Ports 32 Patton Rolls into Illinois The newest longwall mine in Foresight Energy’s fleet comes online 38 Clean Coal Strikes Back Prairie State and its adjacent underground mine begin generating reliable inexpensive power 44 New Technology Allows Mine Operators to Get Optimum Tire Performance Several tire manufacturers debut new systems and tires for ultra-class haul trucks MINING TIRES/44 PROXIMITY DETECTION/54 48 Silica and Respirable Content in Rock Dust Samples 54 Matrix, Alliance Resources and Preparing for New Proximity Regulations 60 Hot Dip Galvanized Steel Reduces Plant Maintenance Costs COAL IN THE NEWS 6 Southern Coal recalls and hires Appalachian miners 6 Peabody decides to close Willow Lake 6 Cloud Peak Energy sells Decker to Ambre Energy 7 Signal Peak lifts force majeure 10 Rhino plans new ILB operation 11 Court reviews Essar’s requests 14 THIS ISSUE Alliance sees markets improving 20 Japanese utilities to purchase U.S. coal from Oxbow 21 Federal Appeals Court upholds discrimination decision This month, Coal Age profiles Foresight Energy’s Deer Run 22 Midwest Generation faces possible bankruptcy longwall mine. On the cover, Deer Run longwall shearer 24 Coal transportation costs continue to climb operators Mike Ferrill (left) and Brian Hall. WORLD NEWS 7 VISA Steel & SunCoke Energy announce Indian joint venture Ship damages coal loading system at Westshore Terminals DEPARTMENTS 10 Bumi expects to retain business in Indonesia
    [Show full text]
  • Top 100 People Edition 6
    POR 0002 13JO AN REV CONTAINERISATION INGLES 210x297MM.pdf 1 16/11/15 10:19 CONTENTS THE RANKINGS TOP LISTS 04 Introduction 26 Top 10 box port operators 08 Numbers 1-10 45 Top 50 beneficial owners 28 Numbers 11-20 60 Top 10 brokers 44 Numbers 21-30 61 Top 50 owners by country 57 Numbers 31-40 71 Top 50 flags 69 Numbers 41-50 72 Top 10 insurers 84 Numbers 51-60 79 Top 10 regulators 94 Numbers 61-70 104 Top 10 classification societies 101 Numbers 71-80 115 Top 10 ship finance 111 Numbers 81-90 119 Top 10 lawyers 120 Numbers 91-100 Top 100 Editor Chief executive Printing Lloyd’s List is available online in every country Nicola Good Michael Dell St Ives plc in the world by placing a subscription with the publishers in London, Informa UK Ltd. Please Lloyd’s List Managing Editor Head of Marketing Services Editoral, advertising and place your order with the Lloyd’s List marketing Richard Meade Fergus Gregory sponsorship inquiries team at Informa. This special supplement is Lloyd’s List, Christchurch Court, 10-15 Lloyd’s List Asia Editor-in-Chief Head of Sales – Marketing Services issued free to subscribers. Newgate Street, London, EC1A 7AZ Tom Leander David O’Neill Tel: +44 (0)20 7017 5000 For further information please email: Lloyd’s List Deputy Editor Marketing Services Sales Fax: +44 (0)20 7017 4782 [email protected] Craig Eason Janet Wood (Greece & Cyprus) Email: [email protected] or telephone: +44 (0)20 3377 3792 Linsey Dinesan-Rajan (The Americas) Lloyd’s Digital Content Manager Published by Informa UK Ltd.
    [Show full text]
  • Teluk Rubiah Maritime Terminal
    TELUK RUBIAH MARITIME TERMINAL Summary of information on Major Import Wharf (MIW) Distance of Trestle 2116 M (Main Access Trestle : 1894 M & Transfer Platform : 222 M) from shore Width of Trestle 4.080 M Length MIW 510 meter Width of MIW 35 m Maximum Vessel 362 meter (Valemax) Length projected Minimum Vessel 234.36 (Capesize) Length projected Expected Type of Valemax & Capesize Vessel Major Import Wharf (MIW) TELUK RUBIAH MARITIME TERMINAL TELUK RUBIAH MARITIME TERMINAL Quick Release Hook Arrangement at Main Import Wharf Green Color Quick Release Hook White Color No Quick Release Hook Number of QRH 21 (all double hook) QRH SWL 100 ton per Hook QRH opening 90°opening, 45° turning inside Distance between 15 meter for QRH (J19 till J25 & J41 till J47), 30 meter for QRH (J27 till QRH J39) TELUK RUBIAH MARITIME TERMINAL Type of Fender Cell Fender Cell Fender Diagram n Dimension (unit in mm) SCK 2250H E0.9 Projection for QRH 12 QRH (24 lines) use for Valemax Distance between Fender to QRH 2.5 m 6.15 meter TELUK RUBIAH MARITIME TERMINAL Maximum Berthing Velocity 0.2 knots Maximum Allowable 200kn/m₂ Hull Pressure TELUK RUBIAH MARITIME TERMINAL Ship Unloader Specification 1. SHIP UNLOADER INFORMATION CAPACITY A Total lifting capacity 73 t 73T B Grab dead weight 26T C Grab load capacity 47T 2. CAPACITY (per grab) A Rated capacity 2900 t/h B Maximum capacity 3500 t/h C Average capacity 1400 t/h D Time per cycle (optimum) 43.8s E Number of cycle per hour 82.2 c/hr 3.
    [Show full text]
  • Review of Maritime Transport 2012
    UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT OF MARITIME TRANSPORT 2012 UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT OF MARITIME TRANSPORT 2012 New York and Geneva, 2012 ii REVIEW OF MARITIME TRANSPORT 2012 NOTE The Review of Maritime Transport is a recurrent publication prepared by the UNCTAD secretariat since 1968 with the aim of fostering the transparency of maritime markets and analysing relevant developments. Any factual or editorial corrections that may prove QHFHVVDU\EDVHGRQFRPPHQWVPDGHE\*RYHUQPHQWVZLOOEHUHƅHFWHGLQDFRUULJHQGXPWREHLVVXHGVXEVHTXHQWO\ * * * 6\PEROVRI8QLWHG1DWLRQVGRFXPHQWVDUHFRPSRVHGRIFDSLWDOOHWWHUVFRPELQHGZLWKƄJXUHV8VHRIVXFKDV\PEROLQGLFDWHVD reference to a United Nations document. * * * The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. * * * 0DWHULDOLQWKLVSXEOLFDWLRQPD\EHIUHHO\TXRWHGRUUHSULQWHGEXWDFNQRZOHGJHPHQWLVUHTXHVWHGZLWKUHIHUHQFHWRWKHGRFXPHQW QXPEHU VHHEHORZ $FRS\RIWKHSXEOLFDWLRQFRQWDLQLQJWKHTXRWDWLRQRUUHSULQWVKRXOGEHVHQWWRWKH81&7$'VHFUHWDULDWDWWKH following address: Palais des Nations, CH-1211 Geneva 10, Switzerland. UNCTAD/RMT/2012 UNITED NATIONS PUBLICATION Sales no. E.12.II.D.17 ISBN 978-92-1-112860-4 e-ISBN 978-92-1-055950-8 ISSN 0566-7682 ACKNOWLEDGEMENTS iii ACKNOWLEDGEMENTS The Review of Maritime Transport
    [Show full text]
  • Global Maritime Weekly Digest Publishing Director: Prof Minghua Zhao Editor: Richard Scott
    Please note: this publication is intended for academic use only, not for commercial purposes Global Maritime Weekly Digest Publishing Director: Prof Minghua Zhao Editor: Richard Scott 6 March 2018 issue 111 ..................................................................................................................................... The Global Maritime Weekly Digest, based at Southampton SOLENT University, provides a regular flow of maritime news and analysis, of significance in a global context. Topics covered include shipping fleets and management, seaborne trade, ports, shipbuilding, ship recycling, maritime policy and regulations, and seafarers' labour. Contents (1) Consolidation among shipowners in the main global sectors (2) Prospects for container shipping in the next twelve months (3) Opportunities and challenges for United Kingdom ports (4) Global market outlook for liquefied petroleum gas (lpg) tankers (5) Climate change policy deliberations in the shipping industry (6) Leviathans multiply: ore carrier giants invade the dry bulk market Editorial comments • In recent years a prominent trend of more consolidation in the world shipping business has been under way. Yet this industry is still perceived as being characterised by relatively high fragmentation, although there is considerable variety, with bulk carriers and tankers being the least consolidated (item 1). • Much attention is still focused on climate change policy in shipping and progress towards a unified strategy for reducing greenhouse gas emissions (item 5). Agreement
    [Show full text]
  • Analysis of the Economics of Valemax Vessels
    Norwegian School of Economics Bergen, Spring 2014 Analysis of the economics of Valemax vessels Styliani Papadionysiou Supervisor: Roar Ådland Master thesis within the main profile of Energy, Natural Resources and the Environment NORWEGIAN SCHOOL OF ECONOMICS This thesis was written as a part of the Master of Science in Economics and Business Administration at NHH. Please note that neither the institution nor the examiners are responsible − through the approval of this thesis − for the theories and methods used, or results and conclusions drawn in this work. 2 Abstract In 2008, Vale, the Brazilian mining giant signaled a significant transformation in the dry bulk shipping industry. The firm ordered the biggest vessels, ever constructed, called the Valemaxes (400,000 tons deadweight) to transport its iron ore from Brazil to China. The destination between these countries is far and in comparison with the company’s big Australian competitor costlier. Vale needed to cut its transportation cost and one solution was the economies of scale in ship size. Constructing bigger vessels with twice the transporting capacity of the traditionally chartered Capesize vessels can provide significant cost reduction. This strategy raised fears of monopolistic attempts over this route resulting in a ban by the Chinese authorities leading to Vale’s shipping cost increase. This paper, analyzes the operational and economic aspects of the fleet of Valemaxes and attempts to find out the formation of the transportation cost after the imposition of the unexpected ban. 3 Acknowledgements First and foremost, I am very grateful to and would like to give my warmest thanks to my supervisor, Mr.
    [Show full text]
  • With Two Case-Studies from Shipping Industry
    Modern Economy, 2018, 9, 1313-1337 http://www.scirp.org/journal/me ISSN Online: 2152-7261 ISSN Print: 2152-7245 Self-Reinforcing Mechanisms in Economics: with Two Case-Studies from Shipping Industry Alexandros M. Goulielmos1,2 1Maritime Division, Business College of Athens, Athens, Greece 2Department of Maritime Studies, University of Piraeus, Piraeus, Greece How to cite this paper: Goulielmos, A.M. Abstract (2018) Self-Reinforcing Mechanisms in Economics: with Two Case-Studies from “Returns to scale”, as a methodology, goes back to Adam Smith (1776). Shipping Industry. Modern Economy, 9, Economists after Marshall (1842-1924), with certain exceptions1, confined 1313-1337. their interests exclusively to “Constant returns to scale2”. As a return they se- https://doi.org/10.4236/me.2018.97085 cured for their analysis a single equilibrium point with convenient convex Received: June 5, 2018 curves. Early economists were sure that “resource-based” economic sectors Accepted: July 28, 2018 like “Agriculture”, “Bulk goods production” and “Mining” exhibited “dimi- Published: July 31, 2018 nishing returns to scale”, a belief valid till this day. However, at least 9 im- Copyright © 2018 by author and portant “knowledge-based” sectors exhibited increasing returns. More im- Scientific Research Publishing Inc. portant is that increasing returns provides also no obstacle to growth of a This work is licensed under the Creative firm, and of an industry…till it becomes a monopoly... We presented argu- Commons Attribution International ments against and in favor of this last theory drawn from Shipping and Mar- License (CC BY 4.0). http://creativecommons.org/licenses/by/4.0/ keting.
    [Show full text]
  • The Lloyd's List Top
    Lloyd’s List One Hundred | Edition Seven The most influential people in the shipping industry Maritime intelligence | CONTENTS The rankings Top 10 lists 04 | 37 | Introduction Marine insurance top 10 08 | 51 | Numbers 1-10 Ship finance top 10 26 | 64 | Numbers 11-20 Regulation top 10 40 | 81 | Numbers 21-30 Maritime lawyers top 10 55 | 132 | Numbers 31-40 Classification top 10 70 | 140 | Numbers 41-50 Box ports top 10 82 | Numbers 51-60 93 | Numbers 61-70 104 | Numbers 71-80 116 | Numbers 81-90 128 | Numbers 91-102 Top 100 Editor Chief executive Advertising Production Manager No part of this publication may be reproduced, Helen Kelly Michael Dell Mark Leech stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, Lloyd’s List Managing Editor Head of Marketing Services Design photographic, recorded or otherwise without the Richard Meade Fergus Gregory Kapusniak Design written permission of the publisher of Lloyd’s List. Lloyd’s List Asia Editor Advertising Sales Printing Lloyd’s List is available online in every country Abdul Hadhi To advertise please email: St Ives plc in the world by placing a subscription with the [email protected] Lloyd’s List Deputy Editor Editoral, advertising and sponsorship inquiries: publishers in London, Informa UK Ltd. Please place Craig Eason Head of Sales – Maritime Marketing Services Lloyd’s List, Christchurch Court, 10-15 Newgate your order with the Lloyd’s List marketing team at Rafael Fernandes Street, London, EC1A 7AZ Lloyd’s List News Editor Informa. This special supplement is issued free to Tel: +44 (0)20 7017 5000 Gary Howard Asia Pacific subscribers.
    [Show full text]