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Take a look below at our Shiprbrokers’ Weekly Market Reports for Week 29 of 2017 (listed alphabetically):
17th July – 21st July 2017 | Week 29
The International Monetary Fund has issued today its update on its World Economic Outlook. In this latest update, it has kept its growth forecast for the world economy unchanged for this year and next compared to the figures it had issued back in April, with a projection of 3.5 percent growth in global output for this year and 3.6 percent for 2018. However, at the same time it issued upward revisions for its projections on emerging and developing Asian economies including China, while notable improvements were…..
Source: Allied ShipBroking
Week 29 | 21st July 2017
Hanging in the Balance
Undoubtedly, the OPEC led production cuts are having negative implications for crude tankers, particularly VLCCs. Although no major changes have been seen in the absolute volume of spot VLCC fixtures out of the Middle East, this coupled with the ongoing rapid expansion of the trading fleet, forced spot earnings down to around $17,500/day in recent months, from over $40,000/day at the start of the year. In contrast to the developments in the crude tanker segment, so far to date the impact…..
Advanced Shipping & Trading S.A.
WEEK 29 (14th July to 24th July 2017)
The summer market rolls on at the traditional slower pace and although the freights are getting better it’s not enough to encourage Buyers to forsake their summer fun. It’s a good time to take stock at the fleet stats. Certainly, the Panamax / kamsarmax market was clearly the attractive dry bulk newbuilding sector; small orderbook and 7 per cent of the fleet over 20 years. However, we are seeing increasing orders by the week not just…..
Source: Advanced Shipping & Trading S.A.
WEEK 29 | Tuesday 25th July 2016
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing until the end of March market peak. During the second quarter and until the beginning of this month, the freight market witnessed pressure, which was more evident in Capesizes, with the BDI nonetheless resisting to break below 800 points. During the past couple of weeks, we have seen rates…..