Posts by jasko

  • DRY BULK

    A large backlog of ships is now massing on either side of the waterway, waiting to go through. The incident has caused congestion of approximately 60-70 bulk cargo

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  • ULPL (Alpha Adriatic d.d.)

    Pula, 23. ožujka 2021. godine
    Povlaštene informacije: Primopredaja broda Champion Istra kupcu i preuzimanje broda na upravljanje Poštovani,
    Dana 23. ožujka 2021. godine, u luci Odesa u Ukrajini izvršena je primopredaja tankera “Champion Istra”,
    izgrađenog 2012. godine u brodogradilištu 3. Maj u Rijeci, kupcu a ujedno i dosadašnjem zakupcu broda,
    društvu Ebony AS sa sjedištem u Norveškoj koji je iskoristio svoju opciju kupnje broda sukladno odredbama
    Ugovora o zakupu iz 2015. godine.
    Istodobno, s novim je vlasnikom broda potpisan ugovor kojim je prodani brod povjeren Grupi Alpha Adriatic
    na upravljanje čime se osigurava nastavak zapošljavanja naših pomoraca, zaposlenika Društva i Grupe kao i
    daljnji razvoj i proširenje usluga upravljanja brodovima i prihoda iz djelatnosti koje se pružaju trećim
    osobama, a u kojem smjeru se Društvo i Grupa i nadalje planiraju strateški razvijati.
    Sredstva dobivena iz predmetne transakcije bit će u cijelosti usmjerena u korist hipotekarnih vjerovnika
    čime će se dodatno smanjiti kreditna izloženosti Društva i Grupe, a financijski efekti transakcije bit će vidljivi
    u financijskim izvještajima za prvi kvartal 2021. godine. https://eho.zse.hr/obavijesti-izdavatelja/view/36301

  • DRY BULK

    Za one koji nemaju pretplatu

    Quote from jasko

    Bulker values rising by millions of dollars a week, analysts say https://www.tradewindsnews.com/bulkers/bulker…2-1-979084?s=09

    Bulker values are rising by several million dollars each week, according to analysts, due to surging time charter rates and sales concluded at ever-firmer prices.

    Clarksons Platou Securities said on Monday that sale-and-purchase (S&P) transactions for capesize, panamax and ultramax bulkers had prompted it to increase its asset-value estimates.

    Five-year-old capesizes are now assessed by Clarksons Research Services at $33m, up by 10% from $30m last week. Two weeks ago, they were $28m.

    It estimates that 10-year-old capesizes are worth $27.3m, up by nearly 8% from $25.3m last week. They were $21.5m a fortnight ago.

    Biggest NAV impact

    "Other vessel classes are seeing gains as well and our net asset value [NAV] assessments for the equities in our coverage continue to increase," analysts Frode Morkedal and Omar Nokta said.

    "On average our NAV assessments have risen by 11% this week, which follows the 35% increase we had discussed last week."

    Based on Clarksons' revised estimates, the biggest gains in NAV this week will be for shipowners with the largest capesize exposure.

    Navios Maritime Holdings shows the biggest hike among the companies within Clarksons' coverage with a 31% gain in estimated NAV, which is currently assessed at $13.50 per share.

    The analysts said the huge upside is due to Navios' "substantial" financial leverage.

    The Greek owner began 2021 with an implied net debt to fleet value of 99%, based on prevailing values three months ago, according to Clarksons Platou Securities' analysis.

    "That ratio has since declined to 85% — this is still relatively high but further gains in asset prices, and much higher cash flow, are expected to lead that ratio to decline somewhat rapidly," the analysts noted.

    Other analysis

    Clarksons Platou Securities is not the only investment bank to revise its estimates of bulker asset values.

    Earlier this month, Cleaves increased its assessments for the second time in four weeks.

    "The positive sentiment in dry bulk shipping is seemingly relentless, in line with our long-standing view given the lowest orderbook on record and strong demand growth," Joakim Hannisdahl said in a research note on 8 March.

    Cleaves boosted its bulker value estimates on 15 February after a string of S&P deals were reported at higher levels.

    Hannisdahl said rising period rates could support asset prices moving 20% to 53% higher than mid-February levels.

    "Given the continued strength of one-year TCs [time-charter rates], it thus comes as no surprise that the bid/ask spread for S&Ps has once again narrowed with bids approaching asks," he wrote.

    "Thus, we have so far in March seen S&P activity increase at a higher level versus February transactions."

    Cleaves estimates a price of $34.5m for a five-year-old capesize and $51m for a newbuilding, excluding scrubbers.

    Fast-rising spot rates have stimulated increased interest in the period market, particularly in the panamax and post-panamax markets, which is now extending to capesizes too.

    Navios Maritime Partners' 179,100-dwt Navios Luz (built 2010) was reported fixed on a 10 to 14-month time charter to Olam on 17 March.

    The deal was secured at an index-linked rate of 101% of the capesize 5TC assessment, equivalent to $19,948 per day as of Monday.

  • DRY BULK

    Globus Maritime Limited Announces the Acquisition of a 2018-Built “Eco” Kamsarmax Dry
    Bulk Carrier
    Glyfada, Greece, March 23, 2021. Globus Maritime Limited (the “Company” or "Globus")
    (NASDAQ: GLBS), a dry bulk shipping company, announced today that it has entered into,
    through a separate wholly owned subsidiary, an agreement with an unaffiliated third party to
    purchase a 2018-built “Eco” (i.e., with certain fuel efficiency design features) Kamsarmax
    vessel built by the Jiangsu New Yangzi Shipbuilding yard, for $27 million. The purchase
    agreement is subject to standard closing conditions and requirements. http://www.globusmaritime.gr/press/globuspr032321.pdf

  • DRY BULK

    Baltic Dry-indeksen - 2,1 prosent til 2.271 poeng, ifølge The Baltic Exchange.

    Fallet tirsdag drives av ratenedgang innen samtlige segmenter:

    • Innen capesize-segmentet - 3,2 prosent. Inntjeningen for skipene i dette segmentet ligger i snitt på 19.114 dollar pr. dag.
    • Panamax-ratene - 2,6 prosent. Gjennomsnittlig dagrate her ligger på 25.510 dollar.
    • Innen handysize - 0,8 prosent, til 22.262 dollar pr. dag i snitt.
    • Supramax-ratene - 0,3 prosent. Her rapporteres det om et snitt på 23.381 dollar dagen.

  • DRY BULK

    The forward curve for the 65 vs 62 Fe iron ore spread has rallied a lot over the past 6 months, and indicates traders expect demand for higher grades to be stronger over the coming year.            

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  • DRY BULK

    Quote from jasko

    Current order book is at lowest level ever. Last time it was close to these levels was in 2002, the time when the last super cycle started.

    Order book:
    Capesize 7,5%
    Panamax 6,5%

    Handy 3,5%

    Conclusion:

    - Demand for commodities is increasing.

    - Supply of commodities will increase.

    - Order book is record low.

    - EEXI and other regulations will have the potential to

    decrease supply during a strong market.

    We could actually end up in a situation where supply decreases in 2023, due to speed limitations.

  • DRY BULK

    Current order book is at lowest level ever. Last time it was close to these levels was in 2002, the time when the last super cycle started.

    Order book:
    Capesize 7,5%
    Panamax 6,5%

    Handy 3,5%

  • DRY BULK

    The world is hungry, and they need ships!

    Another huge week for corn export inspections, and the second in a row for wheat above the trade range. Last week's corn number went up 3%, soybeans up 6%, wheat up 4%. Egypt was the top destination for soybeans and at least 6 corn cargoes were for China.

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