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S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
S1 e2 ivanov
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S1 e2 ivanov

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  • 1. Export from the Black Sea region
  • 2. • Phaethon International Co. S.A. is international shipping company providing  transportation services in the sector of conventional bulk and steel cargoes  • Focuses on the handysize (20‐39999 mt dwt), handymax (40000 ‐64999 mt dwt)  panamax (65000 ‐ 119999 mt dwt), capesize (120‐219999 mt dwt)  segments and at  any moment commercially controls fleet of about 70‐100 ships.  • Company started activity in 2009 • 67 ships  taken into time‐charter during first year of operation and 3 mio tons of dry  cargo moved from ports of Black Sea and Mediterranean seas to ports of Indian and  Pacific ocean • From 1st Jan 2012 till 20th May  2014   Phaethon chartered  626 vessels and carried  abt 65  mio tons worldwide with  following   structure of  chartered fleet: Capesize 79  vessels Panamax 192 vessels Handymax 253 vessels Handysize 102 vessels 446 vessels  were chartered  on spot basis and  180  vessels for short‐long period
  • 3. GLOBAL MARKET  OVERVIEW
  • 4. These days, dry bulk seaborne trade is increasingly dominated by the steel  industry and the power sector. 60 percent of all cargo volumes are either iron ore  or coal.  Growth in seaborne bulk trade has averaged about 5 percent y‐o‐y over  the last decade, with iron ore and coal expanding by as much as 8 percent a year  on average in the same period. China remains at the forefront of the action. Steel production in the country has  increased by almost 9 percent year‐on‐year in 2013.  Crude steel output  2013 China:  up  9.3% year‐on‐year against 3.6% in 2012 India:  up  6% year‐on‐year Japan: up 3%  year‐on‐year   EU: down  2%  year‐on‐year South Korea: down  5 % year‐on‐year. Steel product exports (China) up  9.7%  year‐on‐year  Imports of iron ore (China)  up  10%  year‐on‐year  Electricity generation (China) up  8.1% year‐on‐year ( up from 4.4% in 2012).
  • 5. In  the first quarter  2014  (China): Iron ore imports:  up 19 % year‐on‐year.  Coal imports:  up 5 % year‐on‐year .  Soybean imports: up  33 %  year‐on‐year  Steel product exports: up 26 % year‐on‐year  (but Steel prices in China continue to fall due to overproduction and  overcapacity) Electricity generation up 7.7% year‐on‐year. There are some concerns however. Growth in steel output in China is  slowing down. Production increased by only 3.6 percent year‐on‐year in the first  quarter of 2014. Steel prices have been extremely weak due to  overcapacity in the sector. Same situation with coal. Ore stocks at  ports have now increased to a record 116 million tonnes in May   2014. Iron ore prices are under pressure.
  • 6. OVERVIEW OF  BLACK SEA
  • 7. • Black Sea – China: iron ore   (mainly capesizes/split for handymax mainly during   booming of capesize • Black Sea – Jordan(Aqaba)/Saudi (PG‐Red Rea)/Iran/Pakistan /Bangladesh(Chittagong)  /Seasia (Indonesia,Philipines)/China (corn): grain (panamax/handymax/handysize) • Black Sea/Turkey – PG/India/SEASIA: steels  (handymax/ handysize) • Black Sea/Turkey – USA: steel (handymax/handymax. panamaxes only for slabs) • Black Sea – South America: fertilizers (mainly handysize) • Black Sea – Mediterranean/Continent: grains (panamax/supra/handysize) • Black Sea – USA: pig iron (panamax/handymax) • Black Sea – India/China: coal/metcoke (panamax/handymax/handysize) • Black Sea ‐ Mediterranean/Continent: coal, hbi (handymax/handysize) • Black Sea – PG/India: clay (handysize) • Till 2013 it was active fertilizer trade Black Sea – India/Seasia with fertilizers (BPC). Trade  was done mainly by handysize • Till 2013 it was active trade Black sea‐ Malaysia, Taiwan, South Korea : pig iron /  panamax Major cargo routes
  • 8. • USA – Black sea: coal  (capesize/panamax) • ECSA – Black sea: sugar(handy/handymax) • West Africa – Black sea: manganese ore/bauxite  (handy/handymax) • Indonesia – Black Sea: nickel ore  (handy and handymax) • PG/WCI‐Red Sea: clinker, hbi, grain (panamax, handymax,  handysize – workable via Black Sea mainly during grain season  ONLY) • China – Med/Black Sea: steels/projects (handy, handymax) Supply of tonnage:
  • 9. Grain prospects • In 2013/14 harvest at Ukraine abt 63 mio and Russia abt 95 mio (export abt 32 mio from Ukraine and abt 20‐23 mio from Russia) • In 2014/2015 harvest at Ukraine expected abt 50‐55 mio and abt 92 mio at Russia. Export from Ukraine expected around 26 mio and export from Russia expected abt 24‐26 mio. • It is expected that as per 2013/14 Ukraine will take the • second place in rating of world exporters of grain, • walking up him from a 7 place (2012/13 MGS), leaving • Argentina, ЕС, Australia, Canada and Russia behind. • The change of structure of world market of grain caused the change of geography of export of grain. Ukraine expanded the presence on the markets of South East Asia/China (in addition to traditional ones as Europe and Middle East)
  • 10. • Low cargo liquidity at area (especially comparing with 2009‐2010) • Reducing number of  players (cargo traders who accept a risk) on the  market • High correlation of freight rates with grain season/ disbalance of rates  • One of the most important point to be considered at Black Sea is the  probability of sudden freight rate volatility due to supply/demand  disbalance (despite low  general  market volatility‐periods of volatility are  ) • Less influence of piracy/goa risk on the  rates • Season risks (severe winter/demand for tonnage after end of ice) • Due to redirection of cargo flows from Seavastopol (and other Crimea  ports) to Mariupol/Odessa/Yuzhny/Illychevsk need to consider congestion  factor (during grain season)
  • 11. Type of garbage Ships outside special areas Ships within special areas Offshore platforms (more than 12 nm from land) and all ships within 500 m of such platforms All other garbage including  plastics, synthetic ropes,  fishing gear, plastic garbage bags,  incinerator ashes, clinkers,  cooking oil, floating dunnage, Lining and packing materials, paper, rags, glass, metal, bottles, crockery and similar refuse Discharge prohibited Discharge prohibited Discharge prohibited Overview of the discharge provisions of the revised MARPOL Annex V (resolution MEPC.201(62)) in force since 1 January 2013
  • 12. ODESSA, UKRAINE TEL       : +38‐048‐737‐51‐63 MOB    : +380‐050‐395‐67‐30 E‐MAIL :  management@phaethon.com.ua chartering@phaethon.com.ua operations@phaethon.com.ua SEOUL, KOREA  TEL       : +82‐2‐738‐0667  E‐MAIL : chartering@phaethonasia.com Legal notice:  the information and data contained in this presentation is derived from a variety of sources, own and third party’s,  public (Clarkson and Bancosta research reports), and is provided for information purposes only.  Phaethon International assumes  no liabilities or responsibility for any errors or omissions in the content of this report. All rights reserved.

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