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The first couple of months have been challenging for all ship sizes, but what was expected to become an extraordinary difficult year for Panamax owners has so far proven to be a somewhat positive surprise.
The positive development in Capesize freight rates seen since 22 August, when the USD 16,000 per day lid was blown off, also took the BIMCO Capesize time charter earnings forecast by surprise while the remaining segment earnings forecast were spot on.
Right now, all eyes seem to be on the Suez Canal as Egypt faces political unrest. Events have pushed the oil price above USD 100 per barrel for Brent crude
Ted joined Ince & Co as a trainee solicitor in September 1994 and in the early years he was involved in a lot of casualty investigations, including trips to Lebanon, Egypt and Montenegro. He left Ince in 2001 in order to work for a P&I correspondent (Ausship) in Sydney where he was lucky enough to race a 16’ skiff on the harbour for two seasons. He then returned to London, re-joined Ince, spent 6 months on a secondment to Gard’s FD&D team in London, then became a partner in 2005. During this period he specialised in dry shipping and international trade. He has spoken at a number of headline industry events, including the Gard summer seminar. Ted retired from Ince & Co in September 2018.