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Mittwoch, 8. Juli 2009

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Port Queues Comprise 18% Of World’s Capesize Fleet

There is currently a total of 154 Capesize vessels waiting to berth at load and discharge ports in Australia, Brazil and China, according to the latest data from local sources. This equates to around 18% of the world’s Capesize fleet.

The chart below demonstrates the swings in the number of Capes waiting to berth at terminals in these three countries, which have corresponded to gains and losses in the freight market.

At the freight market peak in early June 2008, a total of 115 Capes were waiting to berth. By the time of the market collapse at the end of November, unwinding in congestion had effectively “released” 75 Capes on to the market. Since then rises and falls in congestion have led to large fluctuations in Cape fleet supply.

The current total of 154 represents a rise of 75 on the late March total and helps account for the subsequent gains in Capesize freight rates over this period.

Chronic congestion at China accounts for a record total queue of 87 Capesizes with waiting times at some ports rising to three weeks. This has led to substantial increases to round voyage times, which, coupled with the ballasting required, has further slashed available fleet supply.
Quelle: Simpson Spence & Young

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