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The arrival of January also meant that Capesize freight rates once again touched the ground following three extraordinary months of flying high. Q4-2013 represents the strongest quarter in demand ever, and the seasonal weakness of Q1 simply had to affect the level of freight rates negatively.
Last year, US coal exports seized all the headlines as they were up by 31%, showing the flexibility of the producers to seek overseas opportunities as higher gas production, followed by lower gas prices, turned the tables in the domestic US market.
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest importer of coal this year.
There are solid bulk cargoes that are commonly transported by bulk carriers and yet many members are not familiar with the dangers that are associated with them. BIMCO provides timely information and advice on cargoes like iron ore fines, bauxite as well as cargoes that are capable of causing oxygen depletion in cargo spaces and adjacent spaces.
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.
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.
BIMCO advises on how you could check whether your solid bulk cargo is exempted from having a requirement to have a ship fitted with a fixed gas fire-extinguishing system.
