HEADLINES SELECTED BY INTERCARGO (08/07/2024 – 14/07/2024)
INTERCARGO joins industry calls for IMO to amend flaws in CII
With discussions regarding the IMO’s (International Maritime Organization) Carbon Intensity Indicator (CII) due to recommence at their Marine Environment Protection Committee (MEPC) 82 meeting in September, INTERCARGO, the association of dry bulk shipping companies, together with the other global shipping associations, have issued a pertinent joint policy statement to the IMO calling for changes to the flaws in the Carbon Intensity Indicator (CII). (Int’l Bulk Journal: click here)
Crew of listing bulker rescued off South Africa
The crew of a listing bulker have been rescued safe after abandoning the ship in rough seas off South Africa. (Lloyd’s List: click here)
South Africa focuses on removing cargo and fuel from stricken Ultra Galaxy
South African authorities are putting mitigation measures in place to prevent a stricken Ultrabulk vessel from causing an environmental disaster on its coastline. (TradeWinds: click here)
IMB: Violence Against Crew on the Rise Amidst Drop in Piracy
The safety of crews on merchant ships is increasingly becoming a major concern owing to the rise in violent attacks despite a notable decrease in maritime piracy incidents, according to the latest update from the International Maritime Bureau’s Piracy Reporting Center. (The Maritime Executive: click here)
Botswana signs coal export deal with Zimbabwe and Mozambique
Landlocked Botswana, which boasts the third largest coal reserves in Africa, has a potential new export route. (Splash247: click here)
China’s June soybean imports up 10.7%, buyers focus on Brazil crop
China’s soybean imports in June rose 10.7% from a year earlier, a Reuters’ calculation of customs data showed on Friday, as buyers stocked up on cheaper Brazilian beans ahead of the North American export season in the fourth quarter. (Hellenic Shipping News Worldwide: click here)
Baltic index logs weekly gain on higher vessel rates
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Friday to mark a weekly gain on the back of higher rates across all the vessel segments. (Hellenic Shipping News Worldwide: click here)
Dry market report – Week 28
Capesize: This week finished on a positive note with the Capesize 5TC increasing by $942, finishing the week at $27,388… Panamax: An active and busy week for the Panamax market culminated in decent gains made as the Atlantic market came to the fore once again… Ultramax/Supramax: A week of steady improvements in the US Gulf with a lack of tonnage availability a large driving force behind the positivity… Handy: Large gains were seen in the US Gulf region this week with a 42,000-dwt fixing from SW Pass to the West Coast at a rate in the low $20,000s… (Baltic Exchange: click here)
|
|
12.07.2024 |
05.07.2024 |
WEEKLY CHANGES |
WEEKLY CHANGE % |
52 Week Range |
Baltic Dry Index |
1,997 |
1,966 |
+31.0 |
+1.6% |
962 – 3,346 |
BRENT ($/bbl) |
85.0 |
86.5 |
-1.5 |
-1.7% |
|
WTI ($/bbl) |
82.2 |
83.2 |
-1.0 |
-1.1% |
|
MGO ROTTERDAM ($/mt) |
758.5 |
772.5 |
-14.0 |
-1.8% |
|
MGO FUJAIRAH ($/mt) |
845.5 |
861.0 |
-15.5 |
-1.8% |
|
MGO SINGAPORE ($/mt) |
751.5 |
771.5 |
-20.0 |
-2.6% |
|
VLSFO ROTTERDAM ($/mt) |
582.0 |
586.5 |
-4.5 |
-0.8% |
|
VLSFO FUJAIRAH ($/mt) |
634.0 |
642.0 |
-8.0 |
-1.2% |
|
VLSFO SINGAPORE ($/mt) |
629.5 |
642.5 |
-13.0 |
-2.0% |
|
IFO 380 ROTTERDAM ($/mt) |
516.5 |
524.0 |
-7.5 |
-1.4% |
|
IFO 380 FUJAIRAH ($/mt) |
524.0 |
529.0 |
-5.0 |
-0.9% |
|
IFO 380 SINGAPORE ($/mt) |
531.5 |
538.5 |
-7.0 |
-1.3% |
|
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt) |
758.5 |
772.5 |
-14.0 |
-1.8% |
|
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt) |
751.5 |
771.5 |
-20.0 |
-2.6% |
|
EUR-USD |
1.09 |
1.09 |
+0.01 |
+0.6% |
|
GBP-USD |
1.30 |
1.28 |
+0.02 |
+1.3% |
|
USD-JPY |
157.85 |
160.75 |
-2.90 |
-1.8% |
|
USD-KRW |
1,375.00 |
1,378.00 |
-3.00 |
-0.2% |
|
Sources: KPI Bridge Oil, CNBC, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk |
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HEADLINES SELECTED BY INTERCARGO (01/07/2024 – 07/07/2024)
Houthi Explosive Drone Boat Attacks Escalate Red Sea Danger
Yemen’s Houthis are sending drone boats packed with explosives into the Red Sea as they intensify their attacks on merchant ships that have little defense against the “sophisticated shift” in tactic, maritime security sources say. (gCaptain: click here)
‘Significant threat’: Pollution kit appeal for bulker sunk by two Houthi missiles
The International Maritime Organization has launched an appeal for a remotely operated vehicle and other kit to prepare for a pollution spill from a bulker sunk in a Houthi attack off Yemen. (TradeWinds: click here)
Record-Breaking Sea Temperatures Fuel Hurricane Beryl to Early Season Record
Powerful Hurricane Beryl was the 2024 Atlantic season’s first hurricane and the earliest storm on record to reach the strongest possible ranking of Category 5, before weakening to Category 4 as it barrelled towards Jamaica on Wednesday. (gCaptain: click here)
Dry Bulk Market: Australian-China Trade Route Recovering
The Capesize market has benefited from the resumption of Australian coal exports to China after a period of tension between the two countries. (Hellenic Shipping News Worldwide: click here)
Frozen China iron ore stocks support prices despite mounting supply
Iron ore prices in top consumer China have held unexpectedly resilient despite rising portside stocks… (Hellenic Shipping News Worldwide: click here)
Surprise capesize rate rebound fuels renewed dry bulk stock gains
Strong exports of iron ore from Brazil and bauxite from Guinea are boosting capesize spot rates this summer. US-listed dry bulk stocks, which suffered a pullback last month, are headed back upwards again. (Lloyd’s List: click here)
Dry market report – Week 27
Capesize: This week began on a positive note, with the BCI 5TC increasing significantly… Panamax: It has been another week that saw further significant losses… Ultramax/Supramax: A rather dull week for the sector as rates and demand fell away in most areas… Handy: A week of minimal visible activity across both basins in the handy sector… (Baltic Exchange: click here)
|
|
05.07.2024 |
28.06.2024 |
WEEKLY CHANGES |
WEEKLY CHANGE % |
52 Week Range |
Baltic Dry Index |
1,966 |
2,050 |
-84.0 |
-4.1% |
962 – 3,346 |
BRENT ($/bbl) |
86.5 |
86.4 |
+0.1 |
+0.2% |
|
WTI ($/bbl) |
83.2 |
81.5 |
+1.6 |
+2.0% |
|
MGO ROTTERDAM ($/mt) |
772.5 |
772.0 |
+0.5 |
+0.1% |
|
MGO FUJAIRAH ($/mt) |
861.0 |
864.0 |
-3.0 |
-0.3% |
|
MGO SINGAPORE ($/mt) |
771.5 |
770.5 |
+1.0 |
+0.1% |
|
VLSFO ROTTERDAM ($/mt) |
586.5 |
577.5 |
+9.0 |
+1.6% |
|
VLSFO FUJAIRAH ($/mt) |
642.0 |
632.5 |
+9.5 |
+1.5% |
|
VLSFO SINGAPORE ($/mt) |
642.5 |
630.5 |
+12.0 |
+1.9% |
|
IFO 380 ROTTERDAM ($/mt) |
524.0 |
504.5 |
+19.5 |
+3.9% |
|
IFO 380 FUJAIRAH ($/mt) |
529.0 |
525.5 |
+3.5 |
+0.7% |
|
IFO 380 SINGAPORE ($/mt) |
538.5 |
526.0 |
+12.5 |
+2.4% |
|
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt) |
772.5 |
772.0 |
+0.5 |
+0.1% |
|
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt) |
771.5 |
770.5 |
+1.0 |
+0.1% |
|
EUR-USD |
1.09 |
1.07 |
+0.01 |
+1.2% |
|
GBP-USD |
1.28 |
1.26 |
+0.02 |
+1.4% |
|
USD-JPY |
160.75 |
160.90 |
-0.15 |
-0.1% |
|
USD-KRW |
1,378.00 |
1,381.00 |
-3.00 |
-0.2% |
|
Sources: KPI Bridge Oil, CNBC, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk |
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