Showing 61 - 70 of 3282
results per page
Since early July, the capesize rates have gone up and up. By mid-August, they had reached a breakeven level to become profitable. BIMCO estimates that a capesize ship on average fleet financing and operational cost levels, turns profitable when rates are above $15,300 per day.
This ongoing recovery is still in a "fragile" state - demand has increased but so has supply.
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the world.
The outbreak of the novel coronavirus, recently dubbed COVID-19, continues to generate massive economic and financial uncertainty when it comes to China and global shipping.
The fundamental balance will continue to deteriorate in 2020, offering little support to operators hoping to pass on higher fuel costs, caused by the sulphur cap, to shippers.
In yet another turn of extraordinary events, the Baltic Dry Index (BDI) is now hovering around the lowest level in at least 20 years.
Containerships with a collective cargo carrying capacity of 5.3m TEU are now fitted with an exhaust gas cleaning system (scrubber) to remove sulphur oxides (SOx) from the exhaust gasses generated by the combustion processes in marine engines and thereby comply with the IMO 2020 global sulphur regulation which came into force on 1 January 2020.
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. This especially holds true for the commercial shipping markets, which remain heavily reliant upon China, both on the import and export side.
The World Health Organization (WHO) has declared the outbreak of the novel coronavirus a pandemic. There is little doubt that this will have significant implications for the shipping industry. But to what extent?
It has been a joyride for Capesize owners in September. During that month, freight rates lifted from the USD 10,000-15,000 per day interval experienced from mid-June until the beginning of September, when the market caught fire in a big way.
