Cement News tagged under: Freight Markets
Still no sign of any rate upturns16 June 2005, Published under Cement NewsAs dry bulk shipping markets yet do not seem to see the bottom of their diving trip, most industry players still analyze this situation as a short term correction and remain confident on the long run. ThyssenKrupp and Mittal both say that steel prices will remain lower at least for 3 to 5 months and expect a rebound before the end of the year. Europe, United-States and China have so far been reducing their inventories, which will reinforce the upswing of prices when rebuilding time will star... |
Markets still point downwards06 June 2005, Published under Cement NewsThe wind of optimism is no longer blowing in dry bulk shipping these days. While on one side China progressively unchains its custom control on some raw materials, the government is tightening its grip on the economy in a fear that the country may rely too much on increasingly expensive imports, "I believe the era of large-scale expansions is over, the government will strengthen its control." Xiao Chunquan, a director at the State Development and Reform Commission, said. The Panamax mark... |
Outlook suggests rate decline to accelerate30 May 2005, Published under Cement NewsToo far, too fast? The fall recorded in most shipping markets (except for containerships so far) has made this week its first "victim". The now famous and successful tanker owner TOP who wanted to strike into the dry bulk segment with the purchase of 15 Nomikos bulkers from Handies to Capes in a massive $475m en bloc deal, failed to raise enough money to ink the contract. One of the reasons evoked by investors is the too fast expansion of the company but also an overvaluation of the Nomikos ... |
Freight markets look for direction25 May 2005, Published under Cement NewsWith the freight market still on a downward trend the news this week mainly focused on commodities. First on Wednesday the IISI published its monthly report on world crude steel production, confirming again (if necessary) the leading position of Asian countries for steel output growth with a 16.8 per cent gain compared to April 2004 (25.4 per cent for China alone). World crude steel production in April reached 92.1Mt which is eight per cent higher than 12 months ago. There is also some turmo... |
Steelmaker plans could affect longer-term rates18 May 2005, Published under Cement NewsWhile European steelmakers are, one after another, sending warnings about their financial results for the year 2005, the Chinese steel and coal sectors are on the edge of a global restructuring movement, which follows the unprecedented growth these industries recorded over the past three years. Of course the European steel industry suffers from a lower demand in its historical markets, but it also now has to face a stronger competition on overseas business. On a more positive note the larges... |
Some stability after recent falls11 May 2005, Published under Cement NewsWhile things are stabilizing on most dry bulk market after the quite sharp fall recorded over the last two weeks, the whole dry bulk shipping and industrial world is living with the almost daily announcements of historical profit levels. This week Arcelor, Diana, MBC, Precious among others published unprecedented first quarter results… and remain globally optimistic for the whole year 2005. On the downside, some economists already see the start of a melt down of the recent Chinese boom, whic... |
Rate falls in most sectors03 May 2005, Published under Cement NewsThere is a sharp contrast at presenrt between the drastic fall recorded on most dry bulk markets and the overall optimism that still apparently prevails in the news with most articles or press releases dealing with healthy first quarter results, miners output growth, record ship’s values, massive en-bloc sales … The Panamax Pacific market really collapsed last week with round voyage rates hovering around ... |
Rates holding firm in unsettled markets13 April 2005, Published under Cement NewsDespite the uncertainty some analysts have recently expressed (again) about the course and speed of the Chinese economy - particularly concerning the steel demand, elsewhere the need to ensure the supply of raw materials to Asian clients forced Australian mining companies into consolidation. BHP have taken over fellow miner WMC in a AUS$95m. deal. Meanwhile, mining companies Down Under have demanded port rationalisation from the central government to maintain a steady flow of iron ore, most ... |
Markets remain unsettled08 April 2005, Published under Cement NewsThe news front the week has been marked by the troubled negotiations on steel prices between Chinese steel mills and their suppliers. After mills accepted the now benchmark level of 71.5 per cent rise in iron ore prices from CVRD and Rio Tinto, negotiations failed with BHP, on a proposal from the latter to add a US$7.5-10/t premium mainly to cover the rise in shipping costs. Simultaneously the Chinese government stated that they will "more strictl... |
Market activity reflected in increased rates30 March 2005, Published under Cement NewsLast week was not so quiet on dry bulk markets despite the absence of some players for Easter festivities by the end of the week. This steady level of fixtures stopped the fall in Cape rates. Situation was almost similar in the Panamax segment but the level of business in the East remained subdued. The Handy market remained tight particularly in the Atlantic where rates have again progressed for prompt tonnage. A mixed feeling is emerging from the news this week. On the bright side first, a ... |