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2016 continues where 2015 ended, with all eyes on China. This is mainly because of uncertainty surrounding the development of the world’s second-largest economy. When the first day of the Shanghai Stock Exchange of 2016 closed prematurely, the trading results echoed around the world. It warned us that we are in for a rough ride in 2016.
Last week, BIMCO conducted three highly successful seminars on BIMCO’s recent GENCON 2022 voyage charter party for the dry bulk trade. The seminars , which took place Singapore, Seoul and Tokyo, were all very well attended with great engagement from a lively audience interested to know about BIMCO’s flagship contract in the dry bulk trade when it comes to voyage chartering. Almost 100 people attended the seminars in each of the three shipping centres.
Since Q1 2013, the significance of US coal exports has seen a considerable setback, with 2016 achieving the same levels as 2009. This is due to the long-haul routes carrying coking coal from the US East Coast and US Gulf Coast to East Asia not operating to the same extent and the EU is demanding less thermal coal.
BIMCO’s Chief Shipping Analyst will be visiting Singapore to be the moderator at BIMCO’s own seminar and networking event “Crude Oil Tankers: Road to Recovery” . Peter Sand will furthermore be participating in Maritime CEO Forum and a panel discussion at the 15 th edition of Asia Pacific Maritime Conference. All three events are hosted in Singapore and will take place on 13-15 March 2018.
Capesize: The week started on a subdued note as Asia observed Lunar New Year holidays, all three major mining companies active in the Pacific, contributing to an upbeat sentiment despite minimal activity elsewhere.
With fleet growth of 3.7%, compared to global container shipping demand growth of only 1%, even blanked sailings have been unable to lift freight rates.
Despite falling 1.1% m/m in both November and December, US retail sales volumes remain 13% above 2019 levels and 6% higher than the pre-COVID trend. However, sales volumes could return to trend during 2023 and thereby pose a risk for Asia to North America container volumes.
BIMCO is very pleased to announce that its Singapore team has finally arrived in Singapore ready to spearhead BIMCO’s presence and activities further in Asia.
The balancing act continues, as demand moves forward at snail’s pace while a new record-sized containership is deployed in the Asia-Europe trading lane
Still a long way to go before demand catches up with the massive amount of tonnage. Demand: Generally speaking demand is still pretty sluggish, but having said that, the future trends have already arrived. Intra-Asia trade is set to be where the volume growth is going to be strong.
