World Grain - January 2014 - 58

FEATURE

Shipping rates increase
in last half of 2013

F

inally, ocean-going bulk shipping freight rates showed
some semblance of serious improvement in the second
half of 2013. At the start of November, the Baltic Panamax
Index was 10% higher than a month earlier, 59.7% higher than
three months previous, and a whopping 126.5% up compared
to November 2012. Major gains were also apparent in capesize,
supramax and handysize rates (see BDI chart, page 60).
According to Aristides Pittas, Chairman and CEO of vessel owner/operator Euroseas, the dry bulk rate hikes seen in
September and early October were primarily driven by the
strength of the capesize market, especially demand for iron
ore shipping from Brazil to Asia which, because of the long
distance involved, adds significantly to global tonne-mile demand. But the hikes were also felt by grain shippers.
The International Grains Council's Grain Freight Index (GFI)
was hovering near 4800 in mid-November, up from around 4,000
points a year earlier, a rise reflected in prices on key routes. In
November 2012, for example, the average cost of shipping one
tonne of heavy grain from the U.S. Gulf to the E.U. was $18
per tonne. A year later the price had risen to $24 per tonne. For
the U.S. Gulf to Japan, the cost in November 2013 was $51 per
tonne, representing a year-on-year increase of $4 per tonne.
Ships at grain loader in Commencement Bay, Tacoma, Washington.
Photo by Phil Augustavo.
58

by Michael King

Analysts see scenario where rates
may rise in 2014 and 2015
The GFI and Baltic year-on-year gains do not fully explain
how the market has progressed over the last 12 months, however. This was no steady progression in returns for vessel owners
and operators. Rather, most of the upward acceleration of rates
came in the summer and early autumn and the picture was then
muddied during November. The key question is whether the
BDI's gains of the late summer months or the subsequent losses
offer the best guide to grain shipping rate movements in 2014.
On the demand side, grain will do its part. Rising exports
and more demand from China, which has suffered its own
drought, are expected to see global seaborne grain trade rise
7% this year compared to 2012, when a 9% decline was registered. Next year, seaborne trade is expected to grow 2% with
seasonal pushes offering timely boosts to handy, supramax
and panamax fleets.
But, as ever, it will be coal and iron ore that will make the
January 2014 / World Grain / www.World-Grain.com


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World Grain - January 2014

Table of Contents for the Digital Edition of World Grain - January 2014

World Grain - January 2014
Table of Contents
From the Editor-in-chief - Ending waste as world food answer
Calendar of Events
VICTAM Asia 2014
News review - Panama Canal expansion to lower cost of shipping grain
WTO reaches agreement on global trade
New leader for Minot Milling
Parana ports see significant investment in 2013
Nibulon exports record amount of grain
Ukraine’s grain exports on pace to set record
Former president of Stafford County Flour Mill dies
Olam divests stake in Lansing
Cargill increasing capacity in Alberta
Cargill buys stake in Russian grain terminal
Court strikes down lawsuit over CWB
Ergon buys Bunge’s interest in ethanol plant
New Bunge Asia CEO appointed
Exports increase at Brazilian port
ADM moving global headquarters to Chicago
ADM investing $6.5 million in vegetable oil facility
Viterra to buy Lethbridge grain elevator
Western Australia sees biggest harvest ever
Grain Market Review - Oilseeds
Country Focus - Australia
Feature - Decade of Growth
Feature - Global Grain 2013
Feature - GEAPS Exchange 2014
GEAPS Product Showcase
Feature - Shipping rates increase in last half of 2013
Feature - Analyzing Afghanistan's wheat flour market
Feature - Climate change's effect on agriculture
Feature - Five-year supply/demand projections
Grain Operations - Grain drying
Feature - Impact of RFS cut felt globally
Feature - Growing DDGS exports
Feature - IGC raises flour exports forecast
World Grain Weather Report - Follow-up rain needed in Argentina
Technical Profile - Selecting the right ship unloading system
Feature - Turkish flour event marks 10th year
Feature - AGI focuses on expansion, diversification
Supplier News
Product Showcase
World Grain Archive
Ad Index/Reader Information Form International Faxback Program
World Grain - January 2014 - World Grain - January 2014
World Grain - January 2014 - 2
World Grain - January 2014 - 3
World Grain - January 2014 - 4
World Grain - January 2014 - Table of Contents
World Grain - January 2014 - 6
World Grain - January 2014 - 7
World Grain - January 2014 - From the Editor-in-chief - Ending waste as world food answer
World Grain - January 2014 - 9
World Grain - January 2014 - VICTAM Asia 2014
World Grain - January 2014 - 11
World Grain - January 2014 - WTO reaches agreement on global trade
World Grain - January 2014 - 13
World Grain - January 2014 - Parana ports see significant investment in 2013
World Grain - January 2014 - Ukraine’s grain exports on pace to set record
World Grain - January 2014 - Olam divests stake in Lansing
World Grain - January 2014 - Cargill buys stake in Russian grain terminal
World Grain - January 2014 - Ergon buys Bunge’s interest in ethanol plant
World Grain - January 2014 - Exports increase at Brazilian port
World Grain - January 2014 - Western Australia sees biggest harvest ever
World Grain - January 2014 - 21
World Grain - January 2014 - Grain Market Review - Oilseeds
World Grain - January 2014 - 23
World Grain - January 2014 - Country Focus - Australia
World Grain - January 2014 - 25
World Grain - January 2014 - 26
World Grain - January 2014 - 27
World Grain - January 2014 - Feature - Decade of Growth
World Grain - January 2014 - 29
World Grain - January 2014 - 30
World Grain - January 2014 - 31
World Grain - January 2014 - 32
World Grain - January 2014 - 33
World Grain - January 2014 - Feature - Global Grain 2013
World Grain - January 2014 - 35
World Grain - January 2014 - 36
World Grain - January 2014 - 37
World Grain - January 2014 - 38
World Grain - January 2014 - 39
World Grain - January 2014 - Feature - GEAPS Exchange 2014
World Grain - January 2014 - 41
World Grain - January 2014 - 42
World Grain - January 2014 - 43
World Grain - January 2014 - 44
World Grain - January 2014 - 45
World Grain - January 2014 - GEAPS Product Showcase
World Grain - January 2014 - 47
World Grain - January 2014 - 48
World Grain - January 2014 - 49
World Grain - January 2014 - 50
World Grain - January 2014 - 51
World Grain - January 2014 - 52
World Grain - January 2014 - 53
World Grain - January 2014 - 54
World Grain - January 2014 - 55
World Grain - January 2014 - 56
World Grain - January 2014 - 57
World Grain - January 2014 - Feature - Shipping rates increase in last half of 2013
World Grain - January 2014 - 59
World Grain - January 2014 - 60
World Grain - January 2014 - 61
World Grain - January 2014 - 62
World Grain - January 2014 - 63
World Grain - January 2014 - 64
World Grain - January 2014 - 65
World Grain - January 2014 - Feature - Analyzing Afghanistan's wheat flour market
World Grain - January 2014 - 67
World Grain - January 2014 - 68
World Grain - January 2014 - 69
World Grain - January 2014 - 70
World Grain - January 2014 - 71
World Grain - January 2014 - 72
World Grain - January 2014 - 73
World Grain - January 2014 - Feature - Climate change's effect on agriculture
World Grain - January 2014 - 75
World Grain - January 2014 - 76
World Grain - January 2014 - 77
World Grain - January 2014 - Feature - Five-year supply/demand projections
World Grain - January 2014 - 79
World Grain - January 2014 - 80
World Grain - January 2014 - 81
World Grain - January 2014 - Grain Operations - Grain drying
World Grain - January 2014 - 83
World Grain - January 2014 - 84
World Grain - January 2014 - 85
World Grain - January 2014 - 86
World Grain - January 2014 - 87
World Grain - January 2014 - Feature - Impact of RFS cut felt globally
World Grain - January 2014 - 89
World Grain - January 2014 - 90
World Grain - January 2014 - 91
World Grain - January 2014 - Feature - Growing DDGS exports
World Grain - January 2014 - 93
World Grain - January 2014 - 94
World Grain - January 2014 - 95
World Grain - January 2014 - 96
World Grain - January 2014 - 97
World Grain - January 2014 - Feature - IGC raises flour exports forecast
World Grain - January 2014 - 99
World Grain - January 2014 - 100
World Grain - January 2014 - 101
World Grain - January 2014 - World Grain Weather Report - Follow-up rain needed in Argentina
World Grain - January 2014 - 103
World Grain - January 2014 - 104
World Grain - January 2014 - 105
World Grain - January 2014 - Technical Profile - Selecting the right ship unloading system
World Grain - January 2014 - 107
World Grain - January 2014 - 108
World Grain - January 2014 - 109
World Grain - January 2014 - 110
World Grain - January 2014 - 111
World Grain - January 2014 - Feature - Turkish flour event marks 10th year
World Grain - January 2014 - 113
World Grain - January 2014 - Feature - AGI focuses on expansion, diversification
World Grain - January 2014 - 115
World Grain - January 2014 - 116
World Grain - January 2014 - 117
World Grain - January 2014 - Supplier News
World Grain - January 2014 - 119
World Grain - January 2014 - 120
World Grain - January 2014 - 121
World Grain - January 2014 - 122
World Grain - January 2014 - 123
World Grain - January 2014 - Product Showcase
World Grain - January 2014 - World Grain Archive
World Grain - January 2014 - Ad Index/Reader Information Form International Faxback Program
World Grain - January 2014 - 127
World Grain - January 2014 - 128
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http://digital.world-grain.com/sosland/wg/2005_11_01
http://digital.world-grain.com/sosland/wg/2005_10_01
http://digital.world-grain.com/sosland/wg/2005_09_01
http://digital.world-grain.com/sosland/wg/2005_08_01
http://digital.world-grain.com/sosland/wg/2005_07_01
http://digital.world-grain.com/sosland/wg/2005_06_01
http://digital.world-grain.com/sosland/wg/2005_05_01
http://digital.world-grain.com/sosland/wg/2005_04_01
http://digital.world-grain.com/sosland/wg/2005_03_01
http://digital.world-grain.com/sosland/wg/2005_02_01
http://digital.world-grain.com/sosland/wg/2005_01_01
http://digital.world-grain.com/sosland/wg/2004_12_01
http://digital.world-grain.com/sosland/wg/2004_11_01
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_01
http://digital.world-grain.com/sosland/wg/2004_09_01
http://digital.world-grain.com/sosland/wg/2004_08_01
https://www.nxtbookmedia.com