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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 05 of 2019 (listed alphabetically):
28th January – 01st February 2019 | Week 05
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any positive signs to be had. All this seems to have its roots partly in the correction noted back in November of 2018, while the actual damage was not so much that made to realized earnings but rather the steep shift of sentiment towards doubt and skepticism in respect to the whole recovery story we have been seeing since 2016. In terms of numbers, the BDI has eased back to 645bp (while just 10 days back was above the 1,000bp mark), its lowest…..
Source: Allied ShipBroking
Week 05 | 01st February 2018
A Conflict of Interests
In 2010 Libyan oil production topped 1.6 million b/d, 9 years on and crude output since has struggled to come close to sustaining anywhere near that. In 2018, it seemed like progress had been made and looked promising with production averaging almost 1 million b/d, showing signs of a potential road to recovery. With the country effectively split in two and rebel groups holding significant power – both in the east and west – oil facilities have at times been used as monetary and political bargaining tools for different groups to appropriate power. The latest issue concerns the shutdown of Libya’s largest oilfield, El Sharara, which…..
WEEK 05 (25th January to 01st February 2018)
Transmed Shipping have committed their two Kamsarmax newbuildings “Hull No 855” & “Hull No 854” 84/2019 Sasebo to undisclosed buyers for USD 32 mill each. Please note that these vessels are shallow drafted.
Norden A/S have sold their Panamax “Nord Libra” 77/2014 Imabari with DD 11/2019 for an undisclosed price with TC attached. Note that back in November we had the sale of her sister vessel “Nord Hydra” 77/2014 Imabari to the Japanese buyers Tokyo Century.
Baltic Indices (Friday Closing Values) Norden A/S have sold one more vessel, their Handysize “Nord Tokyo” 28/2009 Imabari Marugame with DD 08/2019 to Greek buyers at levels USD 8,5 mill. Note that one year younger “Trade Star” 29/2010 Shikoku was sold earlier in…..
Source: Advanced Shipping & Trading S.A.
WEEK 05 | Tuesday 05th February 2019
As the market is already going through the first days of the Chinese New Year, dry bulk earnings are getting a lot of pressure. Slow trading is really affecting owners’ confidence and while the downward trend is pretty much expected during this time of the year, the fact that rates saw steep weekly declines a few weeks ahead of the Chinese holidays is weighing down sentiment and…..