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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 30 of 2019 (listed alphabetically):
22nd July – 26th July 2019 | Week 30
Undoubtedly the dry bulk market has recovered with an emphatic way. As we have already mentioned in previous weeks, this rather “noisy” comeback has been many things but mere circumstantial. It is but a reflection of both the very good fundamentals being portrayed from the past 2 previous years and the fact that the aggressive downward spiral that was noted several months back was driven solely by a series of single shock events (tail risks). Now that sentiment is in a much better state and before the market becomes over-bullish given the recent trends, a more in-depth…..
Source: Allied ShipBroking
Week 30 | 26th July 2019
During the first week of July, the well documented arrest of the 300,000 dwt ‘Grace 1’ by the British government caused tensions to spike between Iran and the West. Iranian retaliations to arrest a British flagged vessel, the Stena Impero, in the Straits of Hormuz have seen numerous statements calling for calm amidst the mayhem of political games. The current state of affairs has sparked tales of the Suez Crisis and the Gulf War, so why has there been minimal impact on freight rates and crude…..
WEEK 30 (19th July to 26th July 2018)
For starters, a Capesize sale, Orion Bulkers’ M/V “Shinyo Diligence” 177/2006 Namura&Sasebo, Japan has been committed to Hong Kong based buyers Xin Yuan Group at a price of USD 16,5-16,9 mill whilst last week the one-year-younger M/V “Nord Steel” 180/2007 Imabari Saijo, Japan was sold at levels USD 17,75 mill.
In the Panamax sector, there are rumours that Kuang Ming Shipping is selling M/V “YM Virtue” 77/2003 Imabari Marugame, Japan (DD 03/2020) for USD low-mid 7 mill to Chinese buyers. Remind you that her two-years-younger sister…..
Source: Advanced Shipping & Trading S.A.
WEEK 30 | Tuesday 30th July 2019
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential buyers remains robust while there is no sign of values softening in the short term.
In the Kamsarmax sector the BWTS fitted ‘NORD DESTINY’ (83,684dwt-blt
‘08, Japan) is reported sold at low $14.0m to Greek…..