3 September, 2010
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Port information and disbursements for the dry cargo shipping industry

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Welcome to SSY Online

Decade Of Change
30-12-2009

The 2000-09 decade saw the “China boom” and an accompanying commodity bull run transform dry freight rates, redraw seaborne trade patterns, create chronic port congestion and lay the basis for a record bulker orderbook.

This decade of change brought unprecedented volatility to the Baltic Exchange Dry Index. The average daily movement in the BDI was 41 points in the “noughties” as opposed to just 7 points during the 1990s. Despite wild fluctuations, which lifted the BDI to an all-time high of 11,793 points in May 2008 before it crashed to a decade-low of 633 points in December 2008, the BDI was back close to its ten-year average of 3,322 points by late December 2009.

New extremes in charter rates were nowhere better illustrated than in the Capesize sector. Having only broken the $30,000/day mark for the first time in May 2003, the average of the 4 Cape TCs set an all-time high of $233,988/day in June 2008. An ensuing 99%-fall, however, left earnings at a decade-low of $2,316/day just six months later.

News


Russian Crude Shipments Set to Fall in September
02-09-2010
Transneft’s latest loading schedules reveal Russian seaborne crude exports of 2.79 mb/d in September, a 62 kb/d decrease from August’s planned shipments, Energy Intel reports. Scheduled exports from ... [more]

Japanese steel exports at 8-month low
01-09-2010
Japanese steel exports dropped by 13% month-on-month to 3.3 Mt in July, the lowest level since November 2009, according to the Japan Iron and Steel Federation. Despite the weaker performance, this is ... [more]

China’s PMI rise in August
01-09-2010
The Purchasing Managers Index (PMI) for China increased slightly in August after falling for three consecutive months, standing at 51.7 compared with 51.2 in July, according to the China Federation ... [more]

US Weekly Data: Distillate Stocks Fall, But Further Build In Crude Inventories
01-09-2010
After thirteen consecutive weeks of increases, that took inventories to their highest level in 28 years, US distillate stocks declined by 700 KB last week to 175.2 MB, according to the latest data ... [more]

Chinese steel price ease
31-08-2010
Data from world Steel Dynamics show that after climbing to a 3-month high of $614/t on 20 August, the recent rally in Chinese steel prices was already lost momentum. Chinese wire rod prices have ... [more]

Events


Global Steel 2010
11-02-2010 - 00-00-0000
John Kearsey, SSY’s Head of Research, spoke at February’s Global Steel 2010 conference in India. His paper focussed on the potential effects of record newbuilding deliveries on freight market volatility. ... [more]

World Coaltrans Conference
26-10-2009 - 27-10-2009
SSY’s Head of Research, John Kearsey, spoke at the World Coaltrans conference in London at the end of October. His paper outlined the main factors behind the dramatic rebound in dry bulk freight rates in 2009 and the threats posed to market ... [more]

Charles Lynch to Join SSY
15-07-2009 - 00-00-0000
Simpson, Spence, and Young (SSY) is pleased to announce that Charles Lynch, President of C.M. Lynch and Associates and the members of C.M. Lynch and Associates will be joining Simpson, SSY. Charles Lynch will be assuming the role of ... [more]

Markets

Sale & Purchase

26-08-2010
The Baltic Dry Index is this week hovering around the 2,500 mark and the general impetus on the market continues to be of a restrained nature, very much the scenario we were ... [more]

Dry Cargo

Capesize 27-08-2010
The Cape market experienced a bumpy ride this week as the sentiment and movement in rates continued to change throughout the duration. The ... [more]

Atlantic Panamax 27-08-2010
The Atlantic rates began steady, but there was little activity with a stand-off between charterers and owners becoming evident come the ... [more]

Pacific Panamax 27-08-2010
The Pacific market was relatively quiet at the beginning of the week, with rates becoming softer towards Wednesday. By Friday, owners were ... [more]

Atlantic Handysize 27-08-2010
After the frantic market of last week, with rates improving, this week we have seen the market lose some momentum. The week started very ... [more]

Pacific Handysize 27-08-2010
The week started out with a fair bit of activity and indexes up, but by mid week the sentiment had definitely changed with Indexes coming ... [more]

Tankers

31-08-2010
Russia was due to begin test operations on its new pipeline to China this weekend. The line, a spur off the existing ESPO pipeline that ... [more]

Chemicals

30-08-2010
Americas: The USG/Caribs market continued at a slow rate with low COA volumes, however, some spot business, including vegoil, tallow, ... [more]

Gas

LNG 31-08-2010
The newbuilding “Castillo de Santisteban” (170,000cbm) has been handed over to owners Empresa Naviera Elcano of Spain by Korea’s STX ... [more]



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