Cement News tagged under: Freight Markets
Freight market remains subdued28 February 2012, Published under Cement NewsAfter hitting a 25-year low of 647 on 3 February, the Baltic Dry Index (BDI) slowly recovered somewhat but in the past week or so the index has been bumping along the bottom. On 22 February 2012, the Baltic Dry Index (BDI) fell to 704 from 731 a week earlier on the back of sharply lower panamax rates. This year to date, the BDI is down 59% and lower global steel production and a bearish outlook for Chinese coal did little to improve the index over the past week. The Baltic Panamax Index (... |
Freight market remains subdued28 February 2012, Published under Cement NewsAfter hitting a 25-year low of 647 on 3 February, the Baltic Dry Index (BDI) slowly recovered somewhat but in the past week or so the index has been bumping along the bottom. On 22 February 2012, the Baltic Dry Index (BDI) fell to 704 from 731 a week earlier on the back of sharply lower panamax rates. This year to date, the BDI is down 59% and lower global steel production and a bearish outlook for Chinese coal did little to improve the index over the past week. The Baltic Panamax Index (... |
Ethiopia to sign port agreement with Djibouti to aid coal imports25 October 2011, Published under Cement NewsEthiopia is to sign an agreement with Djibouti next month for the use of its port to import coal that the Ethiopian Petroleum Enterprise (EPE) intends direct to cement plants. EPE has been seeking to replace the heavy furnace oil currently in use. The initial plan to use petcoke was unsuccessful due to supply and cost issues. As a result, the search continued and 6300kcal South African coal has been deemed suitable for cement works. The imported coal will cost US$207.30/t, according to a d... |
Markets drift downwards in July’s seasonal lull31 July 2011, Published under Cement NewsA generally downward trend in rates for much of July throughout all sizes with the Bulk Dry Index being particularly affected by rate declines in the larger Capesize units – reportedly due to a general lack of cargo availability on the main routes. The increasing availability of Panamax tonnage in the Atlantic basin has been a feature of late-July with a number of ballasters arriving from the Pacific hopeful of picking up cargoes but in reality pushing down rate expectations, while at the ... |
Steady gains in larger sizes: mixed signals at lower end??05 June 2011, Published under Cement NewsIn the news late-May, the OECD released a new report confirming strong expansion in world steel markets and forecasting 6% growth for both 2011 and 2012. World steel output growth slowed in the second half of 2010 but, on the back of Chinese demand, rose nearly 10% in the first quarter of 2011 QoQ. However Chinese growth is expected to fall to around 5% in 2011 and again in 2012 report analysts at shipbrokers Barry Rogliano. Overall the world economy had seen strong recovery in automotive ma... |
Easter break brings little respite for owners27 April 2011, Published under Cement NewsThe Easter break has had an impact on market rates with the Baltic Dry Index (BDI) down again to 1250 points by Tuesday 26 April. The Panamax segment once again suffered the bulk of the losses and over the course of the last week the Baltic Panamax Index eased by an equivalent US$1000 in all basins which represented a significant loss of around 10% on prevailing market levels. A lack of cargoes worldwide is seen as the main culprit with a large number of vessels looking for spot business re... |
Dry bulk markets improve against backdrop of Middle East conflicts05 March 2011, Published under Cement NewsWith markets understandably rather unpredictable as a result of the continuing Middle East troubles, shipowners will be cheered by the upward swing in rates for all dry bulk sectors over recent days. In fact, the Bulk Dry Index has moved up by about eight per cent over the last week as charterers have rushed to fix tonnage over the coming month. Stronger demand out of South America lifted the smaller sizes, while better transatlantic demand pushed Cape rates up. In the iron ore segment, a sh... |
Let’s hope for a better 2011 but...??25 January 2011, Published under Cement NewsThe past month has been characterised by falling rates in most sectors, the only bright spot being a slight resurgence in the Supramex sectors over the past week, but apart from that note of optimism markets have generally been affected by weather-related problems while longer-term worries centre around the continual drip-feeding of new bulk tonnage from the major yards. Taking a moment to review the past year, the Baltic Dry Index BDI has fallen by an alarming 57 per cent in 12 months wit... |
No real direction in the markets21 December 2010, Published under Cement NewsWith the holiday season almost among us, recent trends point to a lethargy in most markets with no real direction visible from the main indices. True, the Baltic Capesize sectors have seen a small improvement in December due to a surge in demand from the big Pacific miners, but by and large the overall Baltic Dry Index remains stuck at around the 2000-2200 range. In fact, the Panamax market has experienced a softer tendency in mid-December with rates sliding in the Pacific basin. As brokers... |
Baltic index falls, capesize cargo activity slow26 November 2010, Published under Cement NewsThe Baltic’s main index has been erratic this year, as it was in 2009, because of swings in Chinese demand for iron ore, the primary ingredient of steel. It reached a 2010 peak of over 4200 points in May. Brokers said players were waiting to see if China would raise interest rates, which could lead to a pullback in ore imports and shipping activity. China’s iron ore imports are likely to rise as much as 10 per cent to a record in 2011, a move that should keep prices near multiyear highs, a... |