Dry cargo market report dated 5 January 2024
09 January 2024Capesize: This week the capsize market has been marked by a mix of activities and challenges.
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Capesize: This week the capsize market has been marked by a mix of activities and challenges.
Capesize: This week has been exceptional for the capesize market, consistently gaining traction.
The Panama Canal stands as one of the world’s most vital intercontinental waterways, playing an important role in facilitating global trade, particularly along the routes connecting the Americas and Asia. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Capesize: This week began on a positive note in the Pacific market, with all three major players actively participating and securing vessels at more favourable rates.
Capesize: As the week commenced in the Pacific, it became apparent that there was a notable level of enquiry, defying the usual subdued nature of Mondays.
Capesize: The capes have faced a challenging week, marked by holiday disruptions
This week, despite the rapidly escalating Covid-19 crisis across much of Asia, steel plate prices continue their upward trajectory once again for the second running week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Capesize: After the surge of activity in the middle of the week, the Capesize market calmed on Friday to welcome the long weekend approaching in most of the countries in both basins.
In the past three months, time charter rates have hovered around the same levels, providing owners with a steady market despite the downward shift in spot freight rates. Summer demand should determine the next turning point, with initial indicators suggesting weaker East/West volumes, but stronger North/South trade. Moreover, increased flows on the Middle East and intra-Asia trades should drive rates for small containerships higher, as idle capacity is now removed and orderbook in this segment is low.
Capesize: The Capesize market was under pressure across all routes most of time this week. 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.