SHIPPING AND MARITIME TRANSPORT 2012-2013 - ANAVE June 2012 | Page 11

WORLD SEABORNE TRADE
The bulkcarriers freight market recorded a new significant drop to historically low levels. Average freight rates for Capesizes fell by 40.1% to 9,700 $/day (in 2010, the average was 32,800 $/day), those of Panamaxes fell by 44.5% to 8,100 $/day and Supramaxes by 34.7% to 9,400 $/day. The BDI average was 918 points and remained throughout the year between 647 points and 1,056 points. During the first half of 2012, the Capesize segment was affected by the decline in iron ore exports from Brazil to Asia, which did not recover until the last quarter. In other segments, the situation was the opposite, with a more complicated first half than the second. For 2013, Platou estimates that the bulk carrier fleet will grow by 7% while demand transport will increase by 5-6%. If freight rates recover in 2013, probably will be quickly offset by a decline in scrap and the consequent growth of the fleet, so that in the short and medium term we should not expect a recovery in the market. For containerships, average freight rates were between 40 and 50% lower than in 2011, although quite volatile, especially on the route between Asia and Europe, with upward trend in the first half and a hard fall in the second. Owners increased the utilization rate of the fleet, mooring part of their vessels and reducing their productivity through slow steaming. It is estimated that in 2013 1.9 million TEU will be added to the fleet, with a high percentage in the largest segment and a total grow of capacity of 7%, while transport demand is expected to increase by 6.1% in t·miles. Again, the profitability of this market will depend on the levels of idle fleet and fleet productivity, although most annalists expect a difficult year. For the ro-ro and car carriers segment, the year 2012 began with acceptable freight levels, thanks to exports from Korea and Japan and sales of cars in the USA, but in the second half of the year, various factors, such as strikes in Korean factories and lower than expected growth in Japanese exports, caused the fall in freight rates. For 2013 Platou annalists estimates that both, the demand and the fleet, will grow around 4%, so they do not expect a dramatic improvement in freight levels. Moreover, given the comparatively favourable situation of this market, orders for new ships are being placed that can saturate it in the coming years. On the other hand, transport demand for liquefied natural gas (LNG), which had been experiencing a strong growth in previo