Cement News tagged under: Freight Markets

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Rates now on the rise

19 July 2004, Published under Cement News

Despite the announcement that Chinese industrial production is feeling the first effects of the credit squeeze organised by local authorities to avoid overheating, dry bulk markets have again experienced a very nervous week gaining between 15 to 30% (depending on ships’ sizes) in only five working days… Rates are now back to the levels they were three months ago or in the autumn 2003, just before things were at fever pitch… The "stars" of the week have definitely been Panamaxes in both basin...

Rocket-style take-off

14 July 2004, Published under Cement News

Despite the announcement that Chinese industrial production is feeling the first effects of the credit squeeze organised by local authorities to avoid overheating, dry bulk markets have again experienced a very nervous week gaining between 15 to 30 per cent (depending on ships’ sizes) in only five working days… Rates are now back to the levels they were three months ago or in the autumn 2003, just before things were at fever pitch… The "stars" of the week have definitely been Panamaxes in bo...

Start summer scale-down

22 June 2004, Published under Cement News

With spring coming to an end and the summer to commence, business is starting to scale down to summer levels as could be expected. All bulk rates continued to be under pressure and slipping gradually due to a decreasing cargo volume. Last weeks big loser were the Handymax rates, almost freefalling although still at quite historical levels. The Atlantic basin being still more favourable than the Pacific, which can be not yet be attributed to the strategic ’ease down’ of the Chinese economy. A...

Navigating in troubled waters

08 June 2004, Published under Cement News

While charterers are now firmly back on the Cape market especially in the East with a higher number of fixtures reported and rates at least stabilised, Panamaxes and Handies are navigating into troubled waters. The grain market for Panamax units is deeply affected by the Chinese ban on soybean imports from Brazil and no settlement of the situation has surfaced yet, but the Atlantic market remains busy with iron ore cargoes which allow rates to stabilize. Despite some dispersed grain fixtures...

Markets continue to fall

08 June 2004, Published under Cement News

The firmer trend that started to push up Capesize rates last week continued throughout most of the week however ended on a weaker note. The Panamax market remained similar to last week with still a lot of prompt vessels to fix in the Atlantic and only a few mineral stems to cover. Handies were slow with some pockets of activity in the Med/Atlantic area but not enough to balance the lack of business in the Pacific and the now badly missing grain stems out of the US Gulf and WCSA ports. ...

Downward pressures deepens

26 May 2004, Published under Cement News

Huge import stockpiles in China, linked with less port congestion, and the first effects of credit tightening measures taken by the government have badly affected the markets this week, despite the still enthusiastic medium term prospects announced by mining companies in Australia and Brazil. Figures remain globally high but the list of Capesize vessels open in the East becomes longer and less congestion in ports does not help to ease the situation. The still awaited start of the South Ameri...

Waiting for the upturn

18 May 2004, Published under Cement News

The longer you can wait the more you win, could be the best way to describe charterers’ position this week on almost all dry bulk markets. No clear sign of any upward trend in the short term has emerged on the market yet, so everybody seems convinced that next week could again end on a weaker note. In this "low pressure" context the Atlantic basin showed some better resistance. Thanks to a higher number of Cape fixtures in the East their situation almost stabilised by the end of the week. Pa...

Going strong but no storm yet

11 May 2004, Published under Cement News

After the strong correction recorded last week on all dry bulk markets and as expected by most players the overall situation stabilised over the last five trading days. Capes continued to lose some ground but to a lesser extent. The upturn we noticed on the Panamax rates at the very end of last week was the start of a stronger trend, still not due to a long awaited grain " harvest " in the Atlantic, but to a surge in ore business. Handies did not benefit from this wave but some pockets of ac...

Wait-and-see

04 May 2004, Published under Cement News

All dry bulk markets recorded a strong correction, which surprised everyone. Contrary to the previous weeks the Capes have been the most affected in this global downturn. The feeling is that it is an over reaction to Chinese authorities’ declared willingness to reduce the steam of their economic engine. There was already some signs of stabilisation for Panamax tonnage by the end of the week and rumours that some charterers are playing the waiting game before coming back in the market.  ...

Panamaxes slip, Handies follow

27 April 2004, Published under Cement News

The overall upward trend the market recorded last week was short -ived and figures started to fall again. Panamaxes were the first and the most affected by the downturn, as the grain season is starting on a slower mood than expected. Handies also suffered from the situation, while the Cape market still remains very firm despite rates seemed to level out in the second part of the week. In the news this week some leading dry bulk operators have released their fiscal 2003 and first quarter 2004...