Dry Bulk Shipping Market Overview & Outlook April 2024
25 April 2024Normalisation of ship routings could cool dry bulk market
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Normalisation of ship routings could cool dry bulk market
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.
As we edge closer to 2024, oil markets have increasingly begun to question what OPEC’s strategy for next year might look like. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
The upcoming winter season could be a very welcome time-out from sub-USD 10,000 per day markets for both crude and product tanker markets. BIMCO forecast that freight rates for VLCC will firm as the winter season
Capesize: As China returned from their Lunar New Year holidays there was hope in some quarters that the market would see a recovery from the steep declines of January.
Panamax: A strong week for the Panamax market, principally for the Atlantic basin, with a good replenishment of mineral cargoes seen all week versus a limited tonnage list. 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.
Supramax: A week of falls across most routes led to the BSI closing at 3,348, a drop of 122 week-on-week. With Hurricane IDA the US Gulf lost momentum as cargo supply eased, whilst from South America fresh enquiry was limited. 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.
BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking at the Dry Cargo Conference taking place on 1-2 June 2017 at the RAI Exhibition and Convention Centre in Amsterdam, The Netherlands. Discounts for BIMCO members available.
Much has already been said about the impact of Coronavirus on the oil and tanker markets. The weekly tanker market report by Gibson Shipbrokers.