Caribbean Maritime University The Highest Studies School of the Merchant Marine Academic Vice Rectory Subject: Marine Transportation Facilitator: MSc.

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Presentation transcript:

Caribbean Maritime University The Highest Studies School of the Merchant Marine Academic Vice Rectory Subject: Marine Transportation Facilitator: MSc. Omar A. Varela Concept Maps of the Four Shipping Markets Master Mariners Officers:  Adaff Benavides  Luis Fernández  José Hernández  Joaquín Pérez  Carlos González 1

The Four Shipping Markets 2 Demolition or Scrap Yard Shipowner ChartererShipyard New Building Freight Demolition or Scrap Sale and Purchase Shipping Markets

1. The New Building Market 3 New Building Market Buyers and sellers NegotiationContractPrices Different motives Certain size and specification Restricted good-quality ships Industrial project Letter of intent Design and construction contract Design changes or disputes Fair and orderly disputes Determined by supply and demand Key factors are freight rates Financial liquidity of buyers Availability of credit Production costs Broker handle newbuilding Expert resources State of the market Suitable yards Specification and terms

2. The Freight Market 4 Freight Market Arranging employment for a ship Voyage charter Contract of Affreightment Time charter Bareboat charter Charter- party Freight market reporting Freight rate statistics World scale index Ships fixed for a specific voyage and cargo The ship is said to be ‘Fixed” Carry a series of cargo parcels for a fix price per ton Ships fixed for a specific time Manages the vessel and pays operating and voyage cost Once deal is fixed, a C/P sets terms of business Rates at which charters are fixed Statistic showing trends in freight rates The most complex of freight rates

3. The Sale and Purchase Market 5 Sale and Purchase Market Shippers, companies & speculators Buying & selling Prices Second hand prices Valuing vessels Residual value of vessels Procedures Transactions by shipbrokers Marketing the vessels Prices and conditions Memorandum of agreement The closing Inspection Memorandum of Agreement (MOA) PriceDepositPayments InspectionDeliveryDry-docking Spares/BunkersDocumentationEncumbrances TaxesDeliveryName/Marking Boyer´s defaultSeller´s defaultArbitration Freight ratesAge Inflation Shipowners expectations Sales and purchase brokers Characteristics and recent sales Basic methodology Deprecation rate Rate of inflation Market cycle Participants

4. The Demolition or Scrap Market 6 Market overview Market operation Market opportunity Financial evaluation Scarp destination Demolition or Scrap Market Present market Geographic area Ship’s Steel Scrap recovery Buyer’s properties Owner’s properties Participant process Documentat ion Attractiveness analysis Buyers analysis Shipowners analysis Towing ships Laying up ships Discharging the ships Sailing on ballast IndiaPakistanBangladeshChinaThailandTurkeySpain

Bibliography 7  International Commerce and Shipping Business, first edition, 2012, Omar A. Varela  Maritime Economy, second edition, 2003, Martin Stopford