Cement News tagged under: Freight Markets
Bears seen prowling the waterfront01 October 2009, Published under Cement NewsA dull end to September trading saw sharp falls in both the Cape and Panamax markets, down 11% and 10% respectively, and overall the BDI dropped 7% on continued poor sentiment. Better news for smaller tonnage where continued stability is being seen, with the Supramax index practically unchanged and the SupraHandy index adding just over 1%. Providing another positive slant: there is reportedly clear evidence of the recent capacity restarts in the steel industry. According to the World Steel ... |
Dry bulk rates lose some upward momentum15 June 2009, Published under Cement NewsDespite a weekly loss on all the dry bulk indices, brokers say there is no evidence yet of a full-scale correction, and with talk of some extended 2-3 year period deals optimism still prevails. Much of the recent talk in the markets has centred around the BHP/Rio Tinto’s plans to combine their iron ore operations, with the Chinese, European and the Japan Iron & Steel Associations voicing some concerns over the likely market over-dominance although the Australian anti-trust authorities could ... |
Steeling oneself for market realities06 May 2009, Published under Cement NewsContinued volatility in the ocean freight sectors marks the day to day progression of the Baltic Dry Index and consequently affects all shipowners involved in dry bulk trades. And while the more optimistic would suggest a slow upward progression in the BDI in recent weeks, the more cautious would point to the unassailable fact that more new dry bulk tonnage arriving from the world’s shipyards will continue to aggravate the current shipping oversupply and this can only hinder the freight mark... |
Some green shoots among the gloom05 March 2009, Published under Cement NewsWhile the Baltic Index for larger units has declined slightly in the opening days of March and market interest in both the Atlantic and Pacific basins has been somewhat muted for such ships, news coming out over the course of opening days of March has not been totally negative with the Panamax sector in particular continuing to improve. India also reports that it expects steel demand to remain stable, or even increase slightly, in fiscal 2008/2009. Meanwhile latest data showed Chinese steel ... |
No cure in sight for current market malaise14 January 2009, Published under Cement NewsWhile the Cape shipping sector has been showing a modest rebound over the past two weeks, lower down the scale the reality is one of continuing bargain basement prices, despite some evidence of increasing trade flows in the grain sectors. Reported announcements by Chinese government leaders to provide significant levels of support to nine key industrial areas also provides grounds for optimism in the shipping sectors, although offsetting such news are moves by Japanese steel mills to impleme... |
That was the year that was!24 December 2008, Published under Cement NewsAs the year comes to a close, it is worth reflecting on a few statistics from the past twelve months since the market highs achieved in May and June, time charter averages for the four main bulk sectors have lost between 91% and 96% of their value. Capes have suffered the most and now stand at 4% of their June peak (against 5%, 7% and 9% for Panamax, Supramax and Handysize) - reports Barry Rogliano, shipbrokers, Paris. The seizure of the credit markets in the autumn burst the asset bubble... |
Markets continue on downward spiral10 December 2008, Published under Cement NewsWhile the Cape-size sector offered a degree of comfort to owners in early December, especially with the Baltic Capesize index posting some useful gains, this shift has not as yet translated into any positive upward rate improvements for the rest of the dry bulk sector. Panamaxes are still suffering hefty losses with brokers noting that the Panamax index now stands at around the low 450 level, even below that of the smaller size Supramax. The rise of the corresponding Cape index was triggere... |
Baltic Dry Index keeps on dropping throughout October27 October 2008, Published under Cement NewsLate October saw the all important Baltic Dry Index trading below 1000 points. The continuous slump has seen the index dropping to 982 points, from an all-time high of 11,793 points last May. This halt in dry bulk trade is seen as linked to the aftermath of the financial and credit crisis which hit the world markets from the middle of September. Banks are hesitant in releasing letters of credit, traders are reluctant to take chances and the global steel industry is also witnessing a drop in... |
Markets in freefall30 September 2008, Published under Cement NewsWith the Baltic Dry Index (BDI) falling throughout the month and accelerating rapidly as we enter October, all indications point to a sizeable slowdown in shipping activities both in terms of available cargoes and investment activity. Many analysts are claiming that the beginning of dry bulk trade¹s downward cycle has now arrived and not in early 2009 (as had previously been assumed) when the next tranche of newbuildings start to flood the market. In reality, the credit crun... |
A good first half, but what lies ahead?25 August 2008, Published under Cement NewsWhile shipowners may be congratulating themselves on a successful first half year in 2008, profits buoyed by further significant gains in iron ore and coal trades in the dry bulk sectors and some lucrative deals in many of the major oil transport sectors, the latest signals emanating from governments, IMF and various influential think-tanks suggest that some sizeable uncertainties lie ahead. Although the IMF reported more optimistic world growth figures in July, by late August it was also ... |