Singapore: A report published yesterday by Alphabulk, a subsidiary of analysts AXS Marine, paints an unfavourable picture of capesize prospects next year thanks in no small part to Brazil miner Vale’s raft of 400,000 dwt bulkers. The report covers the impact of these so-called Valemax ships on the dry bulk trades. There are currently 21 of these ships trading with another two to deliver before year-end.
Alphabulk believes that the Valemaxes are not responsible for the poor capesize market of 2012, “however as the remaining vessels deliver in the coming months, combined with seasonal demand factors they are going to be a contributing factor to an extremely dull first half of 2013”, the analysts noted in a report issued yesterday.
Were it not for the Valemaxes, Alphabulk predicted capesizes could be earning between $20,000 and $40,000 come the second half of 2013. However, with these giant ships factored in, rates in the second half will only be in the $10,000 to $20,000 range meaning the average for next year would be less than $10,000 a day. [20/12/12]
