News
CSCL Europe to better dry bulk freight line continues to slump
Published：2014-05-15Last week delivery shipping index underperformed the index . YTD , transportation index fell 4.7 percent , outperforming the Shanghai and Shenzhen 300 Index 3.7 percent. Shipping sector down 9.3% , underperforming the Shanghai and Shenzhen 300 index and delivery index 0.9 and 4.6 percentage points respectively . Last week, the shipping sector fell 1.7% , underperforming the Shanghai and Shenzhen 300 index and delivery index 0.5 and 0.7 percentage points respectively . A slight increase in A-H -share premium , of about 32.9%.
BDI fell. On Friday the Baltic Dry Freight Index BDI closed at 997 points, compared with a decrease of 2.0% in the previous week . Which Panamax Freight Index (BPI), Capesize Freight Index (BCI), a Supramax freight index (BSI) and Handysize Freight Index (BHSI) Week Change were 3.1% , -10.1 % , -0.7 % -1.6 % .
Crude oil freight upgrade fatigue , TD3 tariffs continue to fall . First Thursday , BDTI and BCTI each week up 2.6% and 2.3 %. Last week , TCE majority tanker market fell, TD3 route tariffs continue to fall. First Friday , the average TCE entire market for $ 9,910 / day, week down 0.3 %. Average TCE VLCC transportation market for $ 10,824 / day , down by 19.0% over the previous week , which was $ 6,730 freight routes TD3 / day , week down 15.5%; TCE Aframax tankers fell 3.0 percent last week , to 10828 USD / day ; Suezmax vessels TCE fell 2.0% to $ 6,926 / day.
Cargo transport demand steadily, composite index rose slightly. Last week , the overall Chinese export container transportation market demand remains steady upward trend , Europe, wave red ocean routes transport demand continues to grow , continue to drive the market slightly higher tariffs . CCFI, SCFI weekly gain was 1.9 %, 1.7 %, of which the EU line , America West tariffs week rose 7.4 percent and were down 0.3 %.
Increasing scarcity of goods on the market , coal freight kept dropping . Last week, affected by the downturn in demand for coal , coastal bulk shipping market supply scarcity , increasing the degree of excess capacity , prices continued to decline . CCBFI last week to close at 1042 points, the week down 2.5%. Coal index closed at 662 points, the week down 5.0% , the current overall level of tariffs was essentially flat with last year .
Fuel prices rose slightly. International oil prices were flat last week , the spot price of Brent crude on Thursday at $ 108 / barrel, the week up 0.6%. Singapore 380CST quoted at $ 591 / ton, the week up 0.1% , down 3.9%.
Investment strategy. After a brief boom in the second half of last year and the year after , dry bulk , tanker transportation are once again caught in the doldrums , BDI, BDTI rise compared to the same period last year , BCTI, CCBFI below year ago levels . Although April China exports continued to slump , but the freight line between Asia and Europe rose for two consecutive weeks , and has been significantly higher than the cost of the line , and continue to maintain a high level of loading rate , part of the voyage warehouse explosion occurs mainly shipowners control capacity and needs better. Difficult to maintain freight industry trend opportunities judgment, because the supply pressure is reduced , the demand for short-term fluctuations in freight rates will increase flexibility , once the season than-expected demand , tariffs may exceed expectations in the short term . Recommendations focus on this year's losses to determine the height of CMES .
BDI fell. On Friday the Baltic Dry Freight Index BDI closed at 997 points, compared with a decrease of 2.0% in the previous week . Which Panamax Freight Index (BPI), Capesize Freight Index (BCI), a Supramax freight index (BSI) and Handysize Freight Index (BHSI) Week Change were 3.1% , -10.1 % , -0.7 % -1.6 % .
Crude oil freight upgrade fatigue , TD3 tariffs continue to fall . First Thursday , BDTI and BCTI each week up 2.6% and 2.3 %. Last week , TCE majority tanker market fell, TD3 route tariffs continue to fall. First Friday , the average TCE entire market for $ 9,910 / day, week down 0.3 %. Average TCE VLCC transportation market for $ 10,824 / day , down by 19.0% over the previous week , which was $ 6,730 freight routes TD3 / day , week down 15.5%; TCE Aframax tankers fell 3.0 percent last week , to 10828 USD / day ; Suezmax vessels TCE fell 2.0% to $ 6,926 / day.
Cargo transport demand steadily, composite index rose slightly. Last week , the overall Chinese export container transportation market demand remains steady upward trend , Europe, wave red ocean routes transport demand continues to grow , continue to drive the market slightly higher tariffs . CCFI, SCFI weekly gain was 1.9 %, 1.7 %, of which the EU line , America West tariffs week rose 7.4 percent and were down 0.3 %.
Increasing scarcity of goods on the market , coal freight kept dropping . Last week, affected by the downturn in demand for coal , coastal bulk shipping market supply scarcity , increasing the degree of excess capacity , prices continued to decline . CCBFI last week to close at 1042 points, the week down 2.5%. Coal index closed at 662 points, the week down 5.0% , the current overall level of tariffs was essentially flat with last year .
Fuel prices rose slightly. International oil prices were flat last week , the spot price of Brent crude on Thursday at $ 108 / barrel, the week up 0.6%. Singapore 380CST quoted at $ 591 / ton, the week up 0.1% , down 3.9%.
Investment strategy. After a brief boom in the second half of last year and the year after , dry bulk , tanker transportation are once again caught in the doldrums , BDI, BDTI rise compared to the same period last year , BCTI, CCBFI below year ago levels . Although April China exports continued to slump , but the freight line between Asia and Europe rose for two consecutive weeks , and has been significantly higher than the cost of the line , and continue to maintain a high level of loading rate , part of the voyage warehouse explosion occurs mainly shipowners control capacity and needs better. Difficult to maintain freight industry trend opportunities judgment, because the supply pressure is reduced , the demand for short-term fluctuations in freight rates will increase flexibility , once the season than-expected demand , tariffs may exceed expectations in the short term . Recommendations focus on this year's losses to determine the height of CMES .
