Weekly Vessel Valuations Report

Secondhand bulk carrier prices have climbed more than 30% in the past six months, so it seems to be a good time to acquire bulker tonnage while the market is still relatively undervalued. https://www.bmti-report.com/bmti-shipping-…ew-11-may-2021/

Dry bulk demolition

Quote from jasko

Route Description Size Value ($) Change

BCI timecharter 5 T/C routes 180000 42031 -339

BPI timecharter 5 T/C routes 82500 27740 614

BSI timecharter 10 T/C routes 58328 24699 320

BHSI timecharter 7 T/C routes 38200 22010 352

BDI INDEX 3254 +14

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Panamax 4TC +2.38% to $26,404

Route Description Size Value ($) Change

BCI timecharter 5 T/C routes 180000 42031 -339

BPI timecharter 5 T/C routes 82500 27740 614

BSI timecharter 10 T/C routes 58328 24699 320

BHSI timecharter 7 T/C routes 38200 22010 352

BDI INDEX 3254 +14

The industry is confident that prices will keep rising this year. Petter Haugen, an analyst at Kepler Cheuvreux, said it is possible that capesize vessels will fetch $100,000 a day in the second half of the year. https://www.ft.com/content/849434…13-3e6c5dc7111a

C2 Tubarao to Rotterdam (long tons) 160,000lt 16.872 $/ton -0.089

C3 Tubarao to Qingdao 160,000mt or 170,000mt 31.215 $/ton 0.2

C5 West Australia to Qingdao 160,000mt or 170,000mt 14.795 $/ton -0.191

C7 Bolivar to Rotterdam 150,000mt or 160,000mt 16.450 $/ton -0.06

C8_14 Gibraltar/Hamburg transatlantic round voyage 180,000mt 40925 $/day -500

C9_14 Continent/Mediterranean trip China-Japan 180,000mt 61940 $/day -810

C10_14 China-Japan transpacific round voyage 180,000mt 46854 $/day -567

C14 China-Brazil round voyage 180,000mt 37776 $/day 203

C16 Revised backhaul 180,000mt 23200 $/day -175

C17 Saldanha Bay to Qingdao 170,000mt 23.484 $/ton 0.047

BCI 5TC 42031 -339

The lack of scrap metal has pushed the demolition prices higher across the board.

The dry bulk market is nowhere close to a theoretical ceiling and could easily quadruple from current levels without destroying demand, according to Stifel research, which expects demand for dry bulk ships to rise by 5% this year and continue next year https://lloydslist.maritimeintelligence.informa.com/LL1136722/Dry-…-into-next-year

Breakwave Dry Bulk Shipping Report 05.11.2021

https://static1.squarespace.com/static/5a4d1d2…2021+Report.pdf

Quote from jasko

For the capesize FFA market traders, brokers Lorentzen & Stemoco said today, “The sky is the limit.”  https://splash247.com/miners-scrambl…upercycle-mode/

The historical average percentage of freight on delivered iron ore from Brazil to China has been around 19%. If such level is applied to current iron ore prices, the corresponding freight rate would be in excess of $50,000.

For the capesize FFA market traders, brokers Lorentzen & Stemoco said today, “The sky is the limit.”  https://splash247.com/miners-scrambl…upercycle-mode/

Super cycle: Dry bulk shipping making historic run https://ajot.com/premium/ajot-s…ng-historic-run

MV Eleen Eva 58k open kohsichang fixed a trip to bangladesh at 40k with clinkers - GML

The Orderbook Stats and the Orderbook to Fleet Ratio slides follow the evolution of the dry bulk fleet for the past 20 years and show the correlation between new orders and active fleet counts.

Pomorska večer Marko Domijan od 0:16:50 https://radio.hrt.hr/aod/pomorska-vecer/381457/

USDA confirms the following U.S. corn export sales to China:

1,020,000 tonnes for 2021/22

Supramax Commentary

An active start to the week for Supramax paper, with

rates pushing across the curve chasing a thin offerside

and following the larger sizes. June and July pushed to

respective highs of $27000 and $25500. Q3 and Q4

traded t $23850 and $20000. We close supported at the

day's highs across the curve.

Panamax Commentary

Active start to the week with buyers from the open chasing

a thin offerside as expected. June gapped up to $28250, q3

$26000 before these levels attracted the sellers. Further out

the Cal22 saw good size trading starting at $16300 at the

open before pushing to a high of $16750, printing in size

beetwen $16600-16750. The q1 v cal22 spread tightened

trading into -$200 as we continue to flatten. Further out

Cal23 traded between $13600-13750 and Cal24 at $11500.

A strong start to the week with more of the same

tomorrow??

Tanker #TCE Earnings:

VLCC -7,823 (+36)

Suez -306 (+194)

Afra 1,991 (+127)

MR basket 19,238 (+10,396)

No surprise MR routes sky rocketing after the pipeline news. First cyber-attack of its kind on the energy industry.