Cement News tagged under: Freight Markets
Markets show more instability23 January 2008, Published under Cement NewsAnother frenetic week in the dry bulk market with more huge fluctuations in rates and plenty of drama behind the scenes. The Baltic Dry Index (BDI) finished ast Friday at 6462, down nearly 1500 on the week and its lowest level since July last year. However by the end of the week there were signs of a major rebound in the Forward Freight (FFA) market sector and for larger tonnage sizes rates seem to be holding up suggesting the present tirmoil might be short-lived. Meanwhile long-term pur... |
Oversupply factors begin to bite17 December 2007, Published under Cement NewsThe Baltic Panamax Index went down by 412 points mid-December, finishing at 9394. The four TC’s average lost US$3,400, falling from US$79,100 per day to US$75,700. Last week’s drop in the Panamax market was mainly driven by an oversupply of tonnage in the Pacific, with rates falling by US$5,000. Mid-December activity levels saw the Atlantic sector remaining steady but somewhat bearish reports broker Barry Rogliano The market has been sustained by a few fresh Panamax requirements. Interest f... |
Merger mania hits mining sectors12 November 2007, Published under Cement NewsIn a move that seemed unthinkable just a few months ago, BHP Billiton confirmed last week that it had made a formal offer for rival Rio Tinto. Such a merger would create a behemoth in the mining industry. So far Rio Tinto has rebuffed the Australian¹s $140bn all share bid, and indeed its stock price has already risen above the value of the offer. However it seems inevitable BHP will be back for more. Rio Tinto of course is still fresh off its own $38bn acquisition of Canad... |
When will it all end?15 October 2007, Published under Cement NewsThere was only one game in town last week: the incredible leap in the Baltic Dry Index. For the first time in its twenty-two year history the BDI breached the 10,000 mark, propelled by runaway rates in both the Capesize and Panamax sectors. It is easy to forget that just 12 months ago this figure seemed unimaginable. Then, the BDI languished at a mere 4126. Indeed, the incredible boom has now pushed the value of the biggest US-listed drybulk company, DryShips, beyond that of the largest publ... |
No end in sight to market gains27 September 2007, Published under Cement NewsIf any more evidence were needed that drybulk rates have gone through the roof, this week saw the Baltic Capesize Index record its biggest ever one-day gain, equivalent to a rise of 6%. The jaw-dropping increase means the index has now grown more than 60% in just six months. It is exactly these kinds of statistics that are drawing owners to order yet more and more tonnage despite signs of increasing overload – Reports Barry Roglaino in Paris. Australia provided two potentially negative news... |
A time for reflection perhaps?13 August 2007, Published under Cement NewsWhile many shipowners are quietly publishing their financial results for the first half of the year reflecting the amazing levels achieved on the charter market, mining companies have been starting to feel the first hints of the long lasting logistical chain congestion in Australia. Cost pressure and demurrage costs have dented Rio¹s continuous profit growth for the first time in four years. Rio¹s subsidiary Coal & Allied first half results suffered most from this situation with a net profi... |
And still the markets climb higher!23 July 2007, Published under Cement NewsThe market is fixated on mergers and acquisitions in the mining sector this month with this spectacular $38.1bn bid by Rio on Alcan, surpassing the previous $28.8bn made by Alcoa. The market is also factoring in price negotiations in the iron ore sector with some contradictory statements about the predicted level of demand for next year, clouding the waters. Lower iron ore imports figures published by Chinese customs for the month of June have surprised most observers, but just one month is ... |
Rate rises astonish the market27 June 2007, Published under Cement NewsTo much surprise, the indexes published by the Baltic for the Cape market have gained more than 1,630 points, i.e. +25% over the last five trading days, and 50% of this rise was done during the last two days of the week. Equally, Panamax indices jumped by 12% over the same period Explanations for this sharp upturn are certainly to be found in the slow return to normal operations in Newcastle Australia after 15 days of disruption. Hunter Valley Coal Chain Logistics Team estimates that ³2.5Mt... |
Shipping markets on a roll18 May 2007, Published under Cement NewsAnother week of strong increases and with a rise of 341 points last week, the BPI reached a new record high of 6,283 points (the last record established was on the 1st of December 2004 with 6,110 pts). The Panamax market is still sustained by interest for period in both Atlantic and Pacific basins. Pacific round traded last week in the low/mid 50’s. LME’s for 5/7 months delivered in Pacific were trading around US$52,000/day. In the Atlantic, the market is similarly driven by period fixture.... |
Bulk markets are booming30 April 2007, Published under Cement NewsIt’s heating up! The growing interest for all parties to partake in the ever booming bulk market is reflected in all sorts of manners. With strong demand and persisting congestion in Australian coal ports, markets continue their upward trend: after the Panamaxes and Capes, it is now the turn for the Handies to jump on the bandwagon and march forward. In the meantime, ship values also reached new stratospheres, with new-building resale contracts soaring up to US$110m a piece for a 177,000 d... |