Dry bulk market still facing headwinds

 

Friday, 16 May 2014 | 00:00

Oversupply issues and a general weak sentiment have contributed towards the current weaker than expected state of the dry bulk market, which hasn't been able to move forward, despite record breaking demand from China. Yesterday, the Baltic Dry Index (BDI) was up by 19 points to reach 1,021, still almost half the level it had reached late in 2013. In yesterday's session, larger vessel sizes were the main contributors, with both the Capesizes and the Panamaxes gaining 50 and 47 points respectively. On the other hand, Supramaxes and Handysizes were facing weak market conditions, posting slight decreases.
In a note this week, BIMCO noted that despite the fact that China's steel output hit a record, the dry bulk market

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Intermodal Weekly Market Report Week 18 Broker's insight

 

Tuesday, 06 May 2014 | 20:40

A bit more favorable wind is forecasted for 2014 for the Greek Passenger Shipping Companies. Most are becoming increasingly optimistic, noting that possibly the worst

 

http://drg.blob.core.windows.net/hellenicshippingnewsbody/pdf/Shiptrade%20Services%20SA%20+%20Intermodal/Intermodal%20Report%20Week%2018%202014.pdf

Iron Ore Trade at Risk as Port Hedland Walkouts Approved

 

Tugboat workers at Australia’s Port Hedland approved work stoppages amid a dispute over wages and annual leave, risking disruption to iron ore shipments to Chinafrom the world’s largest bulk-export terminal.

The Maritime Union of Australia approved unlimited stoppages of 24 hours, 48 hours and seven days, the Fair Work Commission said today after members were balloted. The union represents deckhands at Teekay Shipping (Australia) Pty., which is contracted by BHP Billiton Ltd. (BHP) to run tugboat operations at the port, located 1,300 kilometers (808 miles) north of Perth. Two other unions are also balloting workers on possible action.

Industrial action may slow iron ore exports by companies including Fortescue Metals Group Ltd. (FMG)and BHP, which said

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Dry bulk market still deemed a "minefield" for many ship owners

 

Thursday, 15 May 2014 | 00:00

The dry bulk market has failed so far to justify the positive sentiment which had prevailed during the final months of 2013, when the Baltic Dry Index was rallying to levels just below 2,000 points. As a result, sceptics have yet again resurfaced, questioning the level of predicted health in the balance between supply and demand, going as far as estimated a new level of tonnage oversupply in the coming years, especially given the fact that demolition activity has retreated once again this year.
According to Intermodal's latest weekly report, with almost half of the year gone by, the dry bulk market continues to exhibit signs of weakness, giving birth to a lot of uncertainty for both existing ship

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German Investor Confidence Drops for Fifth Straight Month

 

Photographer: Krisztian Bocsi/Bloomberg

Industrial output unexpectedly declined in March, and manufacturing and services cooled in April. Close

Industrial output unexpectedly declined in March, and manufacturing and services cooled in April.

Photographer: Krisztian Bocsi/Bloomberg

Industrial output unexpectedly declined in March, and manufacturing and services cooled in April.

 

German investor confidence fell for a fifth month in May in a sign of growing concern that threats from low inflation (ECCPEST) to a strong euro may undermine the recovery.

The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, slid to 33.1 from 43.2 in April. The gauge is at the lowest level since January 2013.

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