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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 11 of 2019 (listed alphabetically):
11th March – 15th March 2019 | Week 11
It is rather superfluous to mention the overall bearish mode that has taken grip of the dry bulk sector right now. With the BDI index having witnessed an average of 642 basis points since the start of the previous month till today, and the Capesize 5TC-AVG, at the same time, easing back to US$ 6,290/day, the argument behind this bearish feel seems more than self-explanatory. In the pursuit of looking for a silver lining in all of this, many would point to the current “ill” state being but a mere reflection of a single, unique shock (referring to the Vale accident), or to use a more technical term, part of a “tail risk”. Up until very recently the market was monopolized by views…..
Source: Allied ShipBroking
Week 11 | 15th March 2018
Waive to Iran
Opec crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years. February numbers show a significant over compliance, with Saudi Arabia leading efforts to implement cuts with a 153% compliance rate, some 170,000 b/d already below their overall target. Iraq and Saudi Arabia alone contributed 170,000 b/d in additional cuts between them in February alone. However, having already cut production close to their original 2019 target, they may now be missing…..
WEEK 11 (08th March to 15th March 2018)
Scorpio Bulkers have sold their two Kamsarmax, “Sbi Electra” & “Sbi Flamenco” 82/2015 Jiangsu New Yangzijiang, China both with DD 09/2020 & 10/2020 respectively, for conversion to Canadian based CSL at levels USD 48 mill enbloc.
Scorpio Bulkers have also sold their four Kamsarmax “Sbi Lambada”, “Sbi Carioca”, “Sbi Capoeira” 81/2015 & “Sbi Macarena” 81/2016 all built in Shanghai Shipyard in China, as well as their three Ultramax “Sbi Pegasus” 63/2015 Chengxi, China, “Sbi Subaru” & sister vessel “Sbi Ursa” 62/2015 both, in a sale and lease back deal to Chinese CMFB Leasing at…..
Source: Advanced Shipping & Trading S.A.
WEEK 11 | Tuesday 19th March 2019
Activity in dry bulk S&P market remains stable whereas values appear to have bottomed out and buyers are now willing to pay today’s market levels in anticipation of improved prices in the future. This week we noted increased activity in the Panamax sector with a couple of reported sales and with more ships inviting offers in the next couple of weeks.
The Kamsarmax ‘YATTAWONGA’ (82,624dwt-blt ’08, Tsuneishi) has been inspected by around ten buyers in China, which is evidence of strong interest in the sector. In terms of concluded sales we are hearing subjects have…..