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Providing the latest information on contact points relating to designated national competent authorities that are responsible for the safe carriage of grain and solid bulk cargoes.
The record-high Chinese imports towards the end of 2012 ensured that quantities of Chinese iron ore reached an all-time high of 744 million tons for the full year, according to Chinese customs data. Meanwhile, port inventories have been decreasing considerably since early September, suggesting that the demand should stay sturdy in the coming year.
A valuable supplement to the IMSBC Code, containing cargo information and carriage requirements of solid bulk cargoes commonly transported. Amendment (Amdt) 06-21 (2022 edition) is the current Code in force effective 1 December 2023. Amdt 07-23 is in voluntary application effective 1 January 2024 and will enter into mandatory force on 1 January 2025.
As we are heading into Q4 our thoughts go back to the strong days during the end of last year. In spite of a recent strong return of Chinese iron ore imports, history is unlikely to repeat itself. Freight rates have been on the slide since mid-Summer and only Capes have resisted consistent erosion.
There is no doubt that it takes time from when commodities are bought and transportation fixed and executed to the cargo being landed at the buyer’s desired port of discharge. There’s also no doubt that buying activity for staple cargoes such as coal and iron ore was hectic during the final months of 2011.
Overall demand remains strong in volumes with European trades picking up to supplement Asian demand. Volumes are set for 7% growth in 2011
Following the summer dip where Capesize was hit badly, dry bulk freight rates have once again bounced back like a tumbler. Capesize rates are back at year-to-date average around USD 30,000 per day. Capesize freight rates are moving like a heartbeat, but at lower and lower pulse levels and going deeper and deeper as more vessels enter the market. In spite of remaining inefficiencies in the supply chain, slow steaming, and continued strong demand for raw materials going forward, the big ships are in for a fundamental imbalance between supply and demand.
