Cement News tagged under: Freight Markets
Markets remain fairly stable in late October30 October 2010, Published under Cement NewsMarkets were noted to be holding fairly steady in late October with the the Baltic Dry Index closing on Friday the 29th of October 2010 at 2678 points, with some small gains in the Panamax sectors helping to keep the BDI on a positive track. There are some concerns that traditional coal deliveries from South Africa and Colombia might switch to China and India which may impact on rates, while Chinese ore imports will rise for the rest of the year due to low domestic stockpiles another upward ... |
At last, some optimism returns to the sector25 August 2010, Published under Cement NewsWill the Baltic Dry Index reach 5000 by year-end? One or two of the more optimistic brokers seem to be suggesting that this barrier could be broken, given the recent upsurge in rates, although clearly there is a long way to go with underlying sentiment on global fundamentals still posing a moderate degree of uncertainty. On a week to week basis, August activity levels pushed up the BDI appreciably although in the final week it fell back slightly to the 2700 level. The yearly average... |
Some improvements in dry bulk freights but...29 July 2010, Published under Cement NewsFreight rates for dry bulk carriers have continued to edge higher during the last week of July, with the industry’s main benchmark, the Baltic Dry Index (BDI) gaining some 2.16 per cent over the previous week. This was the 10th straight session of increases, despite the fact that most analysts appear rather pessimistic on the short-term prospects of the market. This rebound has reportedly been triggered by a firmer iron ore demand and a restocking taking place in China, as a result of a bett... |
IHS: outlook for dry bulk shipments improving28 July 2010, Published under Cement NewsWorld trade by all modes of transportation – sea, air and land – will grow 8.1 per cent in 2010 and 6.9 per cent in 2011, following a 7.2 per cent decline in 2009, according to the latest forecast from IHS Global Insight’s World Trade Service. International trade volumes will continue to increase on pace with the global economic recovery, according to the Second Quarter Trends in World Economy and Trade report from the IHS Global Insight World Trade Service. The outlook for bulk shi... |
Looking beyond the near-term weakness in dry freight26 July 2010, Published under Cement NewsThe Baltic Dry Index just experienced a severe downward spiral, undergoing the longest consecutive decline since 1995, writes BofA Merrill Lynch in a recent Global Research report. Partially reflecting the simultaneous economic slowdown in the US, Europe and China, dry freight prices recorded a 60% collapse in just 35 days. A combination of lower iron ore imports into China, slower coal activity, easing port congestion and a heavy fleet delivery schedule pushed dry freight rates lower. St... |
Some gains noted but outlook still mixed in May26 July 2010, Published under Cement NewsA slight drop in the BDI mid-May, led by the Capesize market which was unable to maintain the pace of the previous week. However Panamax-to-Handysize showed gains over the week on the back of continued tonnage tightness. In the newbuilding market, there were surprise reports of orders for both Rio Tinto and BHP Billiton. Rio Tinto was said to have placed a US$500m order at Hanjin for eight 205,000dwt vessels. Meanwhile BHP is reportedly set to give 10-year charter backing to six vessels of t... |
Dry freight could recover next year: report27 April 2010, Published under Cement NewsA recent report by Bank of America Merrill Lynch shows that dry freight could recover next year. Now the economy and commodity prices are finding support and cyclical commodities like iron ore, copper and crude oil are strengthening, the relative weakness of dry bulk shipping prices is somewhat surprising according to the bank. Growth in global industrial production is rebounding at the strongest rate since 2000 but the freight market is still lagging. This is because after decades of minim... |
Some renewed optimism for dry bulk sectors03 March 2010, Published under Cement NewsDespite a lack of movement in the Baltic Dry bulk index, it would appear that an element of confidence is returning to the sector especially with the Supramax and Handysize segments posting significant gains and correcting the heavy losses suffered in early February. The time charter averages for these segments have now returned to the relatively robust levels of around US$24,000/day for the Supras and US$16,500/day for the Handies. As brokers at Barry Rogliano note: In the wider dry bulk m... |
No sign of any real improvements in freight markets22 December 2009, Published under Cement NewsA significant development in December has been news that Brazilian ore producer Vale is offering Chinese ore importers future fixed freight charges at a significant discount to the current spot market price. Reports suggested shippers had been offered US$25/t for two-year contracts and US$24/t for four year contracts, which compares very favourably to current Brazil-China freight costs of around US$35/t. If correct, the move would deliver a blow to Australian iron ore producers who have s... |
Markets show renewed optimism as commodity trades flourish17 November 2009, Published under Cement NewsThe dry bulk market continued its strong advance mid-November with all sectors involved, but mostly pushed upwards by the strong demand for capes and panamaxes. The BDI went over the 4000 point ending the week about 21% higher at 4111. The BCI surged ahead closing nearly 29% higher and ending just below 7200 points, whilst the BPI added nearly 12% ending just below 4000 points. The strong demand for iron ore and coal, as well as the strong US grain trade, has largely been responsible for t... |