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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.
Capesize: For the first half of the week, the market faced subdued activity, particularly in the Pacific with a slight downward movement on rates on C5.
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.
Capesize: Throughout the week, the cape market has displayed remarkable resilience and positivity, defying challenges such as holidays in the Far East.
Capesize: This week the market saw a slow start, with a healthy supply of tonnage in the Pacific and limited enquiry, particularly from East Coast Australia to China.
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.
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: The Capesize market struggled to hold its value this week as rates ebbed away across all routes. 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.
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.
