Dry cargo market report dated 12 January 2024
15 January 2024Capesize: The capesize market concluded the week on a relatively sombre note.
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Capesize: The capesize market concluded the week on a relatively sombre note.
Demand drivers and freight rates Driven by the pandemic and stimulus-induced consumer spending on retail goods, container shipping has been a great place to be for carriers and tonnage providers, while proving a headache for those with cargoes needing to be moved in a timely manner.
Capesize: This week the capsize market has been marked by a mix of activities and challenges.
Capesize: The Capesize market faced a challenging week characterised by significant fluctuations.
BIMCO’s market analysis team launches a graph section, where BIMCO members can get an overview of a specific sector and how the supply side of that sector develops.
Capesize: The Capesize market failed to push through to higher values this week as lower activity in the Pacific hampered efforts. The Capesize 5TC closed the week at $16,214.
Join Peter Sand at the London International Shipping Week, where he will be participating in the Navigating Through IMO 2020 amid slowing growth discussion hosted by Bloomberg Intelligence. The discussion will cover the outlook for the commercial shipping markets, alongside an IMO panel discussion on how to prepare for the upcoming IMO 2020 Sulphur Cap. The event will be followed with a networking reception.
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic development has been difficult for ship owners who, with a severe overhang of tonnage, have struggled with a depressed freight market since the start of the financial crisis back in 2008.