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Take a look below at our Shiprbrokers’ Weekly Market Reports for Week 35 (listed alphabetically):
24th – 28th August 2015 | Week 35
Weekly Shipping Market Update
With the global stock markets still in turmoil and finding it difficult to come to terms with the recent shock inflicted over the past couple of weeks from the downfall of the Chinese stock market. The massive losses inflicted on the total market capitalisation of global equites has created a surge in volatility and has hit investor confidence beyond just the equity markets. Commodity indices have hit their lowest level this century while they are currently close to where they stood in 1999. This latter has been in part due to the glut in supply in all major commodities, though the most recent drop is related more to the lack in confidence over the prospects of most of the BRICS economies…..
Source: Allied ShipBroking
28th August 2015
WORLDSCALE FLAT RATES
The principle of the Worldscale system is not an easy concept to explain to people outside the tanker market. This task gets even more complicated as Worldscale flat rates are reset at the beginning of each year. The bunker element is the most critical factor that affects flat rates. This is particularly true for long haul routes, where bunker costs are by far the biggest expense
endured by the shipowners during the voyage. As such, flat rates are greatly influenced by majort swings in international oil and bunker prices.
The period of stability in oil prices seen since early 2011 through to mid-2014 came to an end. The downward trend in oil prices started in July last year and accelerated after the OPEC’s
decision in November 2014 against production cuts…..
WEEK 35 (22nd August to 28th August 2015)
Asian grain importers make rare forward buys on low prices
Asian grain importers are locking in forward purchases as they take advantage of a sharp drop in grain prices, with some buyers booking shipments right up to the middle of next year in an unusual move, traders said Thailand has recently bought 300,000 tonnes of feed wheat from the Black Sea region for shipment between January and April at around $208-$210 a tonne,
including cost and freight, they added. Buyers in Indonesia have covered up to December for supplies of corn, soymeal and distiller’s dried grains. “Normally most buyers book a few months in advance but we have seen some importers block cargoes several months in advance,” said a trader on the sidelines of an…..
Source: Shiptrade Services S.A.