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In the coming months, BIMCO’s Chief Shipping Analyst, Peter Sand, will participate in BIMCO’s very own webinar series: The Shipping Markets Checkpoint: threats and opportunities in a COVID-19 world, as well as numerous insightful virtual conferences focusing on the commercial shipping markets.
The seminar is an ideal opportunity to gain first-hand insights into the latest shipping trends and market research and will equip you with tools to improve your own analysis. The presentations on the day will be delivered by specialist market analysts and leaders from the shipping industry.
Capesize: It was turbulent seas this week as global markets buffeted the Capesize sector.
Demand for crude oil and oil product tankers is currently strong and both segments are enjoying an extended winter season with high earnings.
The last two years have been extreme for the container shipping industry. When the crisis started in 2008, the industry first saw volumes contract sharply and subsequently rates dropped like a stone as liner companies were fiercely fighting for market shares at full speed – so to speak.
“Scrapping ships and no new builds is the fastest road to recovery for the dry bulk market” BIMCO President Philippe Louis-Dreyfus comments on BIMCO’s latest market analysis
2015 never really took off, even though the global economic activity looked stronger earlier in the year. The negative indicators seen at the end of 2014 were not overcome, and we saw a significantly lower level of growth for global GDP in 2015 than in the previous five years. This was primarily due to the struggling emerging markets and developing economies, led by changes in China’s economic focus.
In 2016 the dry bulk shipping sector experienced some of the worst market conditions in history. In response, BIMCO produced a unique analysis model, named "Road to Recovery" to highlight actions needed for the struggling shipping markets to recover - and to track their progress.
The shipping market and underlying profitability can only improve if the fundamental conditions (supply and demand) also improve. Therefore transportation of larger volumes, longer sailing distances in general or a lower increase of dry-bulk fleet size is a prerequisite for better markets to arrive.
