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2014 turned out to be a very hectic year for the demolition market and it became clear just how volatile the market really can be. Previous experiences tells us the end of the year is usually one of the busiest moments for scrapyards, however in 2014 this effect was washed out by declining demolition prices.
Capesize: Throughout the week, the cape market has displayed remarkable resilience and positivity, defying challenges such as holidays in the Far East.
BIMCO has re-launched its quarterly “Shipping Market Overview & Outlook” with Niels Rasmussen, who joined BIMCO as Chief Shipping Analyst in January this year. Focusing on recent developments, demand drivers, and supply for each of the three main sections of shipping; the bulk market, tanker market and container market, the Q2 2022 overview & outlook was presented by Niels at a series of three webinars on 8 June. Watch the recordings of each webinar.
BIMCO reported in our previous macroeconomics report in April 2017 that monthly indicators were showing a strengthening in the global economy. The firm growth dynamics in advanced economies have now, four months later, had a cascade effect on some emerging markets and developing economies (EMDE). This solid growth has sparked an appetite for EMDE assets and indicates that the market expects a pickup.
Capesize: The Capesize market made a revival this week, taking fortunes out of the red by rising the tide on values to be closer to the low-teens level on the 5TC.
Capesize: The Capesize market closed out a generally underwhelming week with positive sentiment and an uptick in the final days with the 5TC lifting +2905 to settle at $29,938. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
Russia’s announcement that it will close access to the Kerch Strait which connect the Black Sea and the Sea of Azov has triggered a reaction within the London insurance market.
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.
