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Severe overcapacity in the market and recently agreed contract rates on the transpacific trade lanes keeps pressure high on the liner companies.
One of the most characteristic developments in 2015 was the declining price of crude oil during the second half of the year. Brent crude oil dropped from USD 57 a barrel (bbl.) on 1 July to hit USD 37 a bbl. on the last trading day in 2015.
Read the latest interview with BIMCO’s shipping analyst Peter Sand in Hellenic Shipping News Worldwide.
In an exclusive interview with “Akti Miaouli” newspaper, BIMCO Chief Shipping Analyst, Peter Sand, provides insight into the markets for dry bulkers, tankers and containerships in 2016 and what to expect going forward.
After lower than expected growth in the first half of 2014, the IMF has once more lowered its GDP growth forecast for 2014 and 2015.
Rates have struggled all year to beat last years’ performance, and failed miserably to do so beyond Q1, with the exception of Capesizes that managed to deliver stronger freight rates in Q2 also.
The International Monetary Fund (IMF) has downgraded its global growth projection from 3.7% in April to 3.4% in July. The adjustment is primarily due to the large negative result in the US in the first quarter of the year. The IMF stressed that this is now behind us – and it therefore sticks to its 2015 projection with an unchanged growth level of 4.0%.
On a global scale, containerised export data from CTS, shows that activity improved in May following a weak start to 2013. Since then, the pace has picked up, and November and December saw 5-7% growth rates from same months of last year.
While we await the long-anticipated rebound in Capesize freight rates centred on Brazilian exports, let's focus on the brighter spots elsewhere in dry bulk shipping
