Cement News tagged under: Freight Markets
Spot activity dominates lower size dry bulk tonn age17 January 2007, Published under Cement NewsIn the light of what happened last year and of the predictions coming from both the supply and the demand side, charterers seem to be in the market to secure tonnage for mid and long term commitments. Cape and Panamax rates have been supported by an intense time charter activity while the Handy/Supramax market is still spot-driven. In the news, this week the weatherman had a lot to report, first with the grounding of the 33,000 dwt – 1985 built Handy ‘Server’ which broke into two parts o... |
No clear direction over last week18 December 2006, Published under Cement NewsIn the same tango ballet that we have been looking at for a couple of months, freight rates have again danced on the same narrow stage, making steps back and forth from one week to the other. However the real freestyle dancing is definitely not on the freight rate front, but rather on the second-hand and new-building markets. After a big wave of tanker orders during the first three quar-ters of the year, it seems that its now time for bulk carrier operators to think forward. All the mode... |
Upturn in market but will it last?04 December 2006, Published under Cement NewsUpturn in market but will it last? The market has been desperately waiting for a clear signal since mid-summer this year, and finally this week the Cape market took the driving seat in an upward trend, not only with the BCI breaking the 6000 point barrier, but above all gaining 401 points during the last five trading days. Panamax and Handies followed the movement a bit later in the week. It is still a little early to say whether this firm trend is here to stay; but it shows at least th... |
Iron ore news dominates market trends30 October 2006, Published under Cement NewsIron ore developments have tended to dominate market discussions over the past fortnight especially with the merger process between Tata steel and Corus going one step forward this week, after Corus’ approval of Tata’s bid. CVRD in Brazil considers that iron ore supply and demand will only “come into balance in two or three years”, and Rio doesn’t see any short term curbing in demand. To avoid this bargaining power on the supply side China has decided to use India as a new source. Depending o... |
Some differing trends noted in early October10 October 2006, Published under Cement NewsSome volatility in the markets this week with the different segments showing some differing trends. It seems that forward positions taken on derivatives are partly involved in this upward movement in the Panamax market, which doesn¹t seem to be shaped by any strong physical trend. To know whether this is an early signal of an overall rebound of the market is a bit premature. Last Thursday the International Grains Council published it¹s monthly market report in which they forecast another r... |
Some nervousness lower down the scale30 August 2006, Published under Cement NewsThe lower financial results of some owners have progressively disclosed in their half-year reports and the correction recorded recently on the freight market have failed to dampen most dry bulk market players faith in future market trends. Owners results have been affected by higher bunker costs and lower rates on the spot market particularly during the first quarter, but so far no one see this situation to recur in the second half. The Panamax market has had a similar evolution as the Ca... |
A steely resolve for the shipping sector08 August 2006, Published under Cement NewsWith steel markets still showing no signs of easing and steel production in China alone likely to reach 424Mt by the end of this year. Some analysts already forecast another rise in prices for the next round of negotiation with miners. China is looking for ore everywhere and India is becoming a major supplier with 89.3Mt exported during the year ending March 2006 (including 74.1Mt to China). At the same time CVRD Brazil is starting production at its new Brucutu iron ore mine, which wi... |
Taking a longer-term view20 July 2006, Published under Cement NewsNow, apparently is the time to negotiate period business and the larger contracts of affreightments (coa). This trend has been widely driven by the recent upturn of most commodity prices even if over abundant stockpiles iron ore in China have temporarily provoked a standstill in demand for imports. Of course the Cape sizes are under the spotlights in such a context and rates have peaked up this week either on the spot or on the period market. Panamaxes and Handies have been lagging behind b... |
Steel mergers to impact on shipping?03 July 2006, Published under Cement NewsThe now approved Arcelor-Mittal merger has provoked a wave of reactions amongst steelmakers; the Chinese ones of course but also the Japanese who are now pushed towards consolidation to be able to play on the same ground as the new conglomerate, which holds 10 per cent of the world market. Closer to the shipping markets China¹s authorities have ordered ³large ironore stockpiles at domestic ports to be reduced soon² blaming them for pushing raw material demand over the country¹s real needs.... |
Market fundementals promote rate gains19 June 2006, Published under Cement NewsAs freight rates are still improving, rumours and discussion are multiplying about long term time charter deals, but further to this seasonal movement another question has arisen: is it the right time to order new ships? Successively two major players have decided to ink new Capesize tonnage despite the very high prices (just above US$60m) and the late delivery dates offered by the shipyards (second half 2009). This year will see the delivery of a massive volume of new dry bulk carrier... |