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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 26 of 2019 (listed alphabetically):
24th June – 28th June 2019 | Week 26
Having reach the midpoint of the year, it seems to be as good point as any to reflect on what we have seen in the year so far in the troubled dry bulk market. If we just take a moment and observe the current levels of the main dry bulk indices, we would see that we are relatively “close” to those levels witnessed at the close of 2018. So, can we say that the current trajectory is comparable to that of the very beginning of the year? The answer would be an emphatic “No”. Moreover, given that realized earnings, at this exact moment, are relatively “good” (while using the closing figures of…..
Source: Allied ShipBroking
Week 26 | 28th June 2019
As we noted in our report dated 7th June, the slowing global economy, partly driven by the ongoing US-China trade war is starting to impact on world oil demand. An increasing number of agencies are factoring in an increased risk of an economic downturn into their projections. In May, the OECD lowered its forecast for global economic growth to 3.2%, whilst the Netherlands Bureau of Economic Policy Analysis recently claimed that world trade had fallen back to its slowest growth rate since the financial crisis. Fitch Ratings Agency was even more bearish, trimming its 2020 growth rate to…..
WEEK 26 (21st June to 28th June 2018)
Three Capesize vessels reported sold this week, with Sanko Steamships’ M/V “Euro Fortune” 177/2005 Mitsui Chiba Ichihara, Japan going to Greek buyers at a price of USD 14,75 mill and her one-year-older sister vessel, owned by Mizuho Sangyo, M/V “Southern Wisdom” 177/2004 being sold on private terms. Both sales can be compared with the sale of M/V “Maritime Power” 176/2005 Universal, Japan to Greek buyers at levels USD 13,2 mill in May. In addition, Messrs CMB have sold…..
Source: Advanced Shipping & Trading S.A.
WEEK 26 | Tuesday 02nd July 2019
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the Middle East. The latest attacks on vessels and the downing of a US drone have pro-foundly advanced the cost of shipping oil from the Middle East. The Joint War Committee of Lloyd’s Market Association insurance body has reported in May, the addition of Persian Gulf and surrounding waters along with the Gulf of Oman to the…..