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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 46 of 2019:
11th November – 15th November 2019 | Week 46
On Friday, the average of the year so far for the BDI closed at 1,346bp, almost perfectly attuned with what was noted during the whole of last year. Given also that the Capesize market has been showing a strong resistance to any downward so far, we may well see a modest yearly growth accumulate for the year (however, not as promising as the one that many aspired for one year back). Whether this growth will be enough to cover the total risk (as part of a risk-reward analysis) being faced right now through the excessive volatility the market has gone through remains to…..
Source: Allied ShipBroking
Week 46 | 15th November 2019
Cut and Run?
In just a few weeks’ time OPEC and its allies will meet again to discuss the oil markets. Analysts are mixed on what the decision will be, with the next few weeks having the potential to influence OPEC’s final decision. At this stage it would seem likely that the current agreement, which expires in March 2020, will be maintained. However, several events taking place over the coming weeks could influence the…..
WEEK 46 (08th November to 15th November 2018)
Noble Group’s Post Panamax sister vessels “Ocean Sapphire” 93/2012 & “Ocean Garnet” 93/2010 Cosco Dalian, China (DD 06/2020 & SS/DD 01/2020 accordingly) were reported sold this week to Greek buyers Golden Union at a price of USD 14,85 & 13,65 mill respectively. Remind you that in September we saw the sale of M/V “Dimitra” 93/2010 Yangfan, China at…..
Source: Advanced Shipping & Trading S.A.
WEEK 46 | Tuesday 19th November 2019
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, while some analysts are forecasting that a new supply glut could send oil prices crashing in early 2020. A sharp drop would increase the strain on some group members like Iran, Iraq, and Venezuela, which are already facing political unrest and economic crises. Furthermore, it would ripple through…..