Dry Bulk Market

Once you know what you are dealing with, it’s easier to improve vessel performance

Once you know what you are dealing with, it’s easier to improve vessel performance

  You may think that sister vessels or ships built in longer series which appear identical on the drawing board would perform similarly after delivery from the shipyard. The fact is that we see that…

Spot market employment more profitable

Spot market employment more profitable

Whether to employ a ship on time charter or in the spot market is a crucial question asked by many ship owners. Through a simulation study we were able to show that employing a Panamax…

Global seaborne coal imports up 6.1 % in 2017

Global seaborne coal imports up 6.1 % in 2017

We estimate* that global seaborne coal imports in 2017 totaled 1.25 billion tonnes, a new all-time high, up 6.1% from 2016. We group Japan, South Korea, Taiwan, Thailand and Hong Kong together as Stable Asia….

USDA increase 17/18 export forecast with 2.1Mt

USDA increase 17/18 export forecast with 2.1Mt

USDA released their monthly report “World Agriculture Supply and Demand Estimates”(WASDE) last week. Total world trade of Coarse grains, Major oilseeds*, Major protein meals* and Wheat in the 17/18 Marketing Year was revised up 2.1Mt…

The fundamentals for Indian coal imports continue to look promising

The fundamentals for Indian coal imports continue to look promising

Back in August we reported that the fundamentals impacting Indian coal imports looked more promising  Trade flow data today implies 17.4Mt of imports in November 19.0Mt in December and 16.2Mt in January.  Based on trade…

Enhancing the customer journey by launching a new digital platform

Enhancing the customer journey by launching a new digital platform

The Klaveness pools have existed for more than 50 years and include today around 50 vessels in the Panamax and Supramax segments. As a Klaveness pool member, Ship Owners get full upside without giving away…

Global industrial production growth to accelerate at the fastest pace since 2011

Global industrial production growth to accelerate at the fastest pace since 2011

Based on our leading indicator*, global industrial production growth will accelerate at the fastest pace since March 2011. This is the first time that all countries/regions included in our model are in expansion mode with…

Total grain export from main hubs up 16% YoY in October. November export estimated up 13% YoY

Total grain export from main hubs up 16% YoY in October. November export estimated up 13% YoY

We estimate that the total grain exports from Black Sea, East Coast South America (ECSA), EU, U.S. and the Black Sea totaled 40 million tonnes (Mt) in October. This was down 14% from September in…

Get full upside by joining our pools without giving away optionality

Get full upside by joining our pools without giving away optionality

Did you know that the Klaveness pools have served Ship Owners for more than 50 years? Our Bulkhandling and Baumarine pools are based on the principles of the sharing economy, offering Ship Owners full upside…

China’s infrastructure sector remains strong, whilst the real estate sector is weakening

China’s infrastructure sector remains strong, whilst the real estate sector is weakening

China’s National Bureau of Statistics (NBS) released their main macro figures for October this week.  The general picture painted is of decelerating growth. We believe Infrastructure and real estate are the key sectors to follow…

China’s Iron Ore import in October down from September according to customs data. Trade flow data however, tell a different story…

China’s Iron Ore import in October down from September according to customs data. Trade flow data however, tell a different story…

China imported 79.5Mt of iron ore in October according to official trade data, down 2% YoY and down 25% from the all-time high in September (on an annualized basis). YTD Iron Ore import totals 897Mt,…

Chinese seaborne coal imports up 21% YoY in September

Chinese seaborne coal imports up 21% YoY in September

China imported 27.1Mt of coal in September according to customs data, up 11% YoY. Excluding land-based volumes from Mongolia and short sea bulker based import from North-Korea, the seaborne volumes totaled 24.1Mt, up 21% YoY….

The US grain export season is off to a slow start at a time when Chinese demand is high

The US grain export season is off to a slow start at a time when Chinese demand is high

Adverse weather has impacted the quality of soybeans and hampered the movement of barges. Both have impacted the grain export negatively. Chinese crushing margins are good at the moment, and there should thus be pent…

Indian coal imports roars back in September

Indian coal imports roars back in September

A month ago, we highlighted the fundamentals impacting Indian coal imports looked more promising. At that time trade flow data indicated imports in August of about 15Mt. The same data today indicate only 12Mt of…

Global Steel Production growth remains high in August

Global Steel Production growth remains high in August

Worldsteel released their monthly update on global crude steel production today. Total global steel production in August 2017 was estimated at 144Mt, up 6.7% YoY, on par with both the nominal production and the YoY…

USDA increases grain trade forecast further

USDA increases grain trade forecast further

  USDA released their monthly report “World Agriculture Supply and Demand Estimates”(WASDE) on Tuesday this week. Total world trade of Coarse grains, Major oilseeds*, Major protein meals* and Wheat was revised up with another 1.8Mt…

Black Sea grain export at an all-time high in August

Black Sea grain export at an all-time high in August

Based on preliminary data collected from various sources we estimate that total grain export from Russia and Ukraine totaled 11.0Mt in August, comfortably a new all time high, up 35% from YoY and more than…

The fundamentals impacting Indian coal imports look more promising

The fundamentals impacting Indian coal imports look more promising

Indian coal production has recorded a negative growth of 3% in the first 4 months of the 2017 financial year (FY) which starts in April, after recording a positive growth of 3% in the 2016…

Chinese energy production and consumption on the rise

Chinese energy production and consumption on the rise

Chinese power generation in July totaled 605bln kWh according to official statistics, up 8.2% compared to the same month last year and comfortably a new all-time high for any monthly period. Power generation in the…

Global steel production growth rebounds in June

Global steel production growth rebounds in June

  Worldsteel released their monthly update on global crude steel production on the 20th July. Total global steel production in June 2017 was estimated at 141Mt, up 3.2% YoY but down from the previous month…

All time high grain trade forecasted in 2017 and 2018

All time high grain trade forecasted in 2017 and 2018

USDA released their monthly report “World Agriculture Supply and Demand Estimates”(WASDE) on Wednesday last week. Total world trade of Coarse grains, Major oilseeds*, Major protein meals* and Wheat was revised up with another 2.8Mt to…

What next with China’s coal import up 32 % YoY in April?

What next with China’s coal import up 32 % YoY in April?

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from one of the topics addressed in the week 18 report. China imported 24.8Mt of…

Ton-mile of Chinese bauxite and alumina import in March up 26 % YoY

Ton-mile of Chinese bauxite and alumina import in March up 26 % YoY

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from one of the topics addressed in the week 18 report. China’s import of bauxite…

Global steel production reached an all time high in March

Global steel production reached an all time high in March

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from one of the topics addressed in this week’s report.   Worldsteel released their monthly update on…

China’s steel production and consumption at an all time high

China’s steel production and consumption at an all time high

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from one of the topics addressed in this week’s report. China produced 72Mt of crude steel in…

ECSA grain export ramps up, but is still lagging last year

ECSA grain export ramps up, but is still lagging last year

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from one of the topics addressed in this week’s report. ECSA grain export in SH-Mar totaled 9.5Mt…

Chinese Seaborne Dry Bulk import up 20% in February

Chinese Seaborne Dry Bulk import up 20% in February

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from one of the topics addressed in this week’s report. Chinese seaborne dry bulk import totaled 124Mt…

Global steel production growth slows in February, but remains strong

Global steel production growth slows in February, but remains strong

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from one of the topics addressed in this week’s report. Worldsteel released their monthly update on global…

Global industrial production continue to accelerate

Global industrial production continue to accelerate

Klaveness customers and clients receive a comprehensive dry bulk research report on a weekly basis. The below is an extract from on of the topics addressed in this week’s report. According to our model*, global industrial production…

The rising oil price and its potential impact on Drybulk freight

The rising oil price and its potential impact on Drybulk freight

The oil price impacts both the demand side and the supply side of Drybulk. The oil price has been on a rise since February 2016. In this article we discuss the potential impacts a rising…

Why 2017 looks positive for the dry bulk market

Why 2017 looks positive for the dry bulk market

Last week we held our annual Klaveness Forum in London. The conference which took place at the Corinthia Hotel was well attended with many of our customers and partners. As part of the program I held…

The effects of global steel production growth on dry bulk freight

The effects of global steel production growth on dry bulk freight

Two weeks ago we argued that the general trend of increasing dry bulk earnings since February 2016 is related to an improving growth rate i global industrial production. The trend in global steel production mirrors that of…

Want to know why Dry Bulk freight rates have rallied in the last month?

Want to know why Dry Bulk freight rates have rallied in the last month?

Last week we argued that the general trend of increasing dry bulk earnings since February 2016 is related to an improving growth rate in global industrial production. However, this alone cannot explain the sharp increases…

The Dry Bulk Market seems to be on the road to recovery

The Dry Bulk Market seems to be on the road to recovery

The Baltic Dry Index bottomed out in February 2016 at an all-time low level, but has since been improving steadily. We argue that these improvements in freight to a large extent is driven by the…

The reports of coal’s death are greatly exaggerated…at least in the short term

The reports of coal’s death are greatly exaggerated…at least in the short term

This week we will take a look at what we call “Other Atlantic” (Turkey, Brazil, Ukraine, the US, Israel, Morocco and Egypt). As a group these countries imported 97Mt of coal in 2015, up 3%…

How fast will coal be displaced in the EU and the UK?

How fast will coal be displaced in the EU and the UK?

This week we take a look at the EU and the UK, and its impact on global trade. EU Total imports into the EU (excluding the U.K.) totaled 188Mt in 2015, the second highest import…

There’s a certain growth market for coal import in Emerging Asia

There’s a certain growth market for coal import in Emerging Asia

This week we will have a closer look at what we call the Emerging Asia (Bangladesh, Malaysia, Pakistan, The Philippines, Thailand and Vietnam) where coal imports are coming from a low base, but is expected…

Will the steady growth continue in Stable Asia?

Will the steady growth continue in Stable Asia?

This week we will have a look at the coal market in what we call Stable Asia. A market which is often overlooked when discussing the seaborne coal market due to fairly low volatility in coal imports…

Can Indian coal production match a rapidly growing demand?

Can Indian coal production match a rapidly growing demand?

The global seaborne trade of coal totalled close to 1.2 billion tons, and constituted 24 % of global dry bulk volumes in 2015. The seaborne trade of coal is thus a vital commodity for the…

Hanjin may not be the new Lehman, but the learnings are much alike

Hanjin may not be the new Lehman, but the learnings are much alike

One month ago Hanjin Shipping Co. sought bankruptcy protection, sending shivers down supply chain managers’ spines and creating fear among banks and counterparts. Gerry Wang, Seaspan’s CEO, called the event a “Lehman moment”. Although we…

The reports of coal’s death are greatly exaggerated

The reports of coal’s death are greatly exaggerated

The coal industry is without doubt under heavy pressure these days. Investors are pulling out of coal related companies in fear of association, whilst local pollution together with global warming, is affecting the public’s and…

TRACE good business and reduce counterparty risk

TRACE good business and reduce counterparty risk

Serious players in shipping are becoming increasingly aware of sustainable business conduct, paying careful respect to the environment, people’s health and regulations. We at Torvald Klaveness always seek to uphold our company value INTEGRITY, and…

China Flash #4

China Flash #4

The annual Coaltrans conference in China was held in Beijing last week. The sentiment was rather pessimistic and consolidation is taking place among local coal traders. With several vessels en route to South America to…

China Flash #3

China Flash #3

It appears that the Government will push forward with further growth in infrastructure investment this year. This is good news for dry cargo demand but may lead to a reduction in steel exports. A new…

China Flash #2

China Flash #2

A rebound in steel and iron ore prices combined with tight supply of domestic coal has dominated the dry bulk market in China recently – but it does not come as a total surprise. As…

China Flash #1

China Flash #1

Despite talks and speculation on hard landing and capital flight, China remains a dominant factor for world shipping demand. We are pleased to share some observations on the main dry commodity markets we follow. The…

Here’s to a good year for monkey business

Here’s to a good year for monkey business

Just when the dry bulk market was about to regain some momentum after the Christmas and New Year holidays, we witnessed yet again talks about the New Year festive season being reason for another expectedslowdown…

Oil for fuel and thought 

Oil for fuel and thought 

The price of crude oil is hovering around the mid 30s per barrel at the time of writing. Not only is it wreaking havoc for oil companies, their suppliers and the economies of oil exporting…