• 2019 February 9 14:25

    Trade war cease-fire is good news for the dry bulk sector, BIMCO says

    The USDA reported that in the first four weeks of 2019 754,609 tonnes of soya beans were ready to be shipped in China, up from only 25,347 tonnes in December, BIMCO said in its recent press release.

    In addition to the ready shipments, on 5 and 6 February, the USDA reported sales totalling 3.2 million tonnes of soya beans to China, the majority of which is to be delivered between now and 1 September 2019, the start of the next marketing year.

    At the beginning of December 2018, the US and China agreed to delay planned tariff hikes to allow for a period of negotiation with the aim of ending the trade war. As part of this China allegedly promised to resume its purchases of US soya beans, and during the latest round of talks, China offered to buy 5 million tonnes.

    “Political promises are beginning to materialise in a trade that has faced huge uncertainty since the start of the trade war. This is good news for the struggling dry bulk market as it generates a much-needed increase in tonne-mile demand.

    The ongoing negotiations between the US and China are now approaching the 2 March deadline at which point either some tariffs will rise, the ceasefire will be prolonged, or tariffs will be removed. Only the last option would allow US soya beans to be able to compete with the Brazilian soya beans expected to arrive in the market in a few weeks,” says Peter Sand, BIMCO’s Chief Shipping Analyst.

    “In a politically unstable environment, uncertainty for the future of this trade remains high and US farmers therefore face difficult decisions as to what to plant for next season,” he says.

    Chinese imports of US soya beans had all but ground to a halt in Q4 2018 following the implementation of 25% tariffs on soya bean imports from the US in July 2018. The US exported 98.2% fewer soya beans to China in the first seventeen weeks of the 2018/2019 marketing season, which started on 1 September 2018, compared to the same period of the last season.

    Normal seasonality disrupted by trade tensions
    As of 31 January 2019, the USDA reported inspections of 21.5 million tonnes of soya beans for export in the 2018/19 marketing year, down from 34.7 million tonnes in the same period of the last marketing year. This represents a loss of 13.3 million tonnes, or 177 Panamax loads (75,000 tonnes), and shows how important the Chinese market is for US soya bean exporters.

    Total Chinese imports of soya beans in 2018 were down 7.9% from 2017. Reduced soy meal content in pig feed and using previously built up stocks, as well as increasing imports from other countries, allowed China to avoid US soya beans and the 25% tariffs.

    Brazil is the largest exporter of soya beans to China and in 2018 met much of the extra Chinese demand for non-US soya beans. Its total exports to China were 28.4% higher than those in 2017. Much of this came from an increase in exports in Q4 2018. The last three months of the year are usually peak time for US soya bean exports, with lower exports from Brazil as its exporting season runs from February to August. In Q4 2018 Brazil exported 13.9 million tonnes of soya beans to China, over two times as much as the 6.1 million tonnes in Q4 2017.

    “We expect to see soya beans from Brazil on the market earlier than usual this year, beginning in the second half of February. These soya beans will compete with those from the US, with sellers likely to continue exporting through their off-season,” Peter Sand says.




2019 September 15

15:47 M/V "SARA” refused access to the Paris MoU region
14:26 USCG assisted capsized USFSP sail students in St. Petersburg, Florida
12:02 World’s largest wind turbine blade test stand built by Siemens Gamesa
11:21 IMCA to introduce CPD scheme for diving supervisors
10:51 L3Harris Technologies delivers new advanced autonomous vehicle capability to UK’s Defence Science and Technology Laboratory

2019 September 14

15:29 Coast Guard reopens Houston Ship Channel after protest demonstration
13:39 Crondall Energy partners with Pharis Energy on innovative Pilot Field development
12:08 Prysmian's new cable-laying vessel Leonardo da Vinci scheduled for delivery in 2Q 2021
10:32 Woodside invests in emerging technology for seismic data acquisition

2019 September 13

18:06 Sture terminal situation normalised
17:47 Malaysia encourages gender diversity in the maritime industry
17:24 Multipurpose ship of Project MPSV12, Kalas, successfully completed sea trials
17:06 Frontline extends expiry date of first option for two Trafigura Suezmax tankers
16:30 ABP to welcome Royal Navy’s HMS Grimsby into Port of Grimsby
16:25 Wärtsilä Aquarius UV Ballast Water Management System chosen for retrofitting to four Korean vessels
16:05 Multi Modal Rail B.V. (MMR) launches rail service between Rotterdam and Ottmarsheim, France
15:48 ABP and WISTA UK host 'Women in Maritime' reception during LISW
15:09 Shearwater GeoServices awarded large South America survey
14:26 ABB enables emissions-free port stay in Marseille for Corsica Linea ferries
14:09 Start of the project “Dredging the Nieuwe Diep – Port of Den Helder”
13:45 First ever ABB electric propulsion to be installed on board a bulk carrier
13:20 Port of Oakland opens peak season with cargo volume growth
12:47 Throughput of port Kavkaz in 8M’2019 fell by 30% Y-o-Y to 22.35 million tonnes
12:09 MOL starts demonstration test of vessel image recognition system using AI technology on Nippon Maru
11:28 RS introduces new requirements into Part I of Rules for Classification and Construction of Sea-Going Ships
11:09 Rolls-Royce achieves 50th MT30 production milestone
10:42 In August, Klaipėda LNG Terminal regasified 1.4 times more gas than was consumed in the entire country
10:09 Port of Long Beach cargo volumes hit 663,992 TEUs in August 2019
10:04 Port Napier, NZ, places order for Damen ATD Tug 2412
09:51 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:34 Brent Crude futures price is down 0.28% to $60.21, Light Sweet Crude – down 0.24% to $54.96
09:16 Baltic Dry Index is down to 2,331 points
09:10 Antwerp and Rotterdam Port Authorities ask new European Commission and Parliament to focus on the economic significance of ports
09:03 MABUX: Bunker market this morning, Sept 13

2019 September 12

18:12 Throughput of port Kaliningrad in Jan-Aug’2019 fell by 21% Y-o-Y to 7.60 million tonnes
17:51 Throughput of port Vyborg in Jan-Aug’2019 fell by 30% Y-o-Y to 810,300 tonnes
17:27 Throughput of port Vysotsk in Jan-Aug'2019 climbed by 6% Y-o-Y to 12.75 million tonnes
16:50 Throughput of port Primorsk in Jan-Aug’2019 grew by 16% Y-o-Y to 41.57 million tonnes
16:24 Vestdavit equips Norwegian Coast Guard’s next generation for Polar boat launch and recovery
16:03 Administration and personnel of Sea Port of Saint-Petersburg sign new Collective Agreement
15:45 SCF Group and NYK Line sign USD 176 million credit facility for eight years with three leading international banks
15:24 Towing and supplying vessel of Azerbaijan Caspian Shipping Company put back into operation
14:46 FESCO new vessel started working on a regular sea line connecting Magadan and Primorski Krai
14:24 Equinor gets consent for exploration drilling in the Barents Sea
14:02 GTT supports 3rd Conference “LNG Fleet and LNG Bunkering in Russia” as its sponsor
13:43 Volvo Penta’s latest D6 propulsion package set new standards for high-speed vessels
13:23 Eagle Bulk Shipping takes delivery of M/V Dublin Eagle
13:11 Bunker prices are flat at the Far East ports of Russia (graph)
12:50 UK Government backs cutting-edge tech to drive down shipping emissions
12:29 Super-efficient Wasaline ferry to get Wärtsilä Nacos Platinum navigation system
12:12 Port of Ust-Luga handled 69.96 million tonnes in 8M’19, up 7% Y-o-Y
11:47 LNG production and shipment facility in Kaliningrad Region to be launched before the end of 2019
11:24 Throughput of Russian seaports in 8M'2019 grew by 2.9% to 556.3 million tonnes of cargo (detalization)
10:55 Throughput of Port St. Petersburg in 8M'2019 climbed by 2% Y-o-Y to 40.17 million tonnes
10:09 GTT receives two new orders from Hyundai Heavy Industries
09:56 Dredging at the seaway canal of Kaliningrad estimated at 30 million cbm
09:38 Baltic Dry Index is down to 2,366 points
09:17 Brent Crude futures price is up 0.76% to $61.27, Light Sweet Crude – up 0.93% to $56.27
09:09 The Gothenburg Port Authority holds early dialogue to prepare for fairway project
08:51 MABUX: Bunker Market this morning, Sept 12