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Capesize: This week the cape market has been marked by varying levels of activity and changing sentiments.
Capesize: The Pacific market started with a positive outlook, maintaining healthy cargo volumes driven by substantial coal shipments from East Coast Australia to the Far East. Rates initially increased, but as the week progressed, a notable shift occurred. Owners began contemplating ballasting towards the Atlantic, creating additional pressure in the Pacific market.
The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach.
Growing oil market imbalances drive tanker improvements
BIMCO’s Chief Shipping Analyst Peter Sand will deliver the closing keynote speech, “What is happening in the shipping markets” at Digital Ship’s 4 th Annual Maritime CIO Forum in Rotterdam on 26 September 2017, at the Hilton hotel in Rotterdam, The Netherlands.
Capesize: The week in the Cape market has shown a mix of activity in both the Pacific and Atlantic regions.
Capesize: Throughout the week, the Capesize market experienced mixed dynamics.
What a difference a year makes! At the end of 2021, container ships were enjoying a historically strong market and freight and time charter rates had yet to peak. At the same time, dry bulk ships were seeing multi-year high rates slipping away, although still enjoying better returns than in previous years. However, tanker ships were seemingly still stuck in a COVID market rut without any immediate hopes for a strong comeback.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
