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Take a look below at our Shiprbrokers’ Weekly Market Reports for Week 34 (listed alphabetically):
10th – 24th August 2015 | Week 33-34
Weekly Shipping Market Update
With panic spreading across global stock markets today and commodity prices struggling to see any reversal, it looks as though the global economy is still struggling to shack off its “blues”. It now seems that few in the market believe that we will see the growth levels in commodity consumption that we witnessed during the “binge” years. China, which has been the main figure behind this high paced aforementioned consumption drive is now looking to be incapable of keeping the same pace it had in the past. Other high growth developing economies are equally lacking in drive while the few that have the growth pace attributed to the emerging titan economies of that past…..
Source: Allied ShipBroking
21st August 2015
US CRUDE TRADE
The impact of lower oil prices should not be underestimated. For the tanker markets, the significant downward correction in prices has boosted owners’ earnings, who have reaped the benefits of cheaper bunkers. At the same time, low oil prices have stimulated world oil consumption, with current expectations that demand this year will increase by 1.6 million b/d, up from 0.7 million b/d in 2014 (according to the IEA).
Changes are also being seen in world oil supply, with the US crude production hit the hardest. The stellar growth in US crude output seen earlier this decade has come to a halt. The dramatic
decline in the US rig count and drilling activity seen in the first half of this year is filtering though to production levels, despite efficiency gains and a major…..
WEEK 34 (15th August to 21st August 2015)
Dry Bulk Freight Market Recovery May Take Year to Manifest, a Platts Survey Reveals
The global dry bulk freight market, crippled by oversupply but seeing signs of renewed activity, is expected to take at least a year to hit the road to recovery, according to the latest Platts survey of shipping market participants. This inaugural Platts Dry Bulk Market Survey was conducted in July and involved more than 100 dry bulk market participants, with respondents including shipowners, ship-operators, charterers, shipbrokers and analysts. Those polled represented all dry bulk segments across the Capesize, Panamax, Supramax and Handysize markets. Some 89% of respondents felt the dry bulk freight market will need a minimum of one year to recover, while 54% of the industry…..
Source: Shiptrade Services S.A.