London-based consultancy views lower congestion as bearish for the dry bulk market in the future. This is combined with a concern about the steep fall in China’s steel output. Read more in LloydsList.
Dry Bulk
Bulkers in 2022: will low fleet supply save the day as demand falls?
There is cautious optimism that bulker markets will see another positive year in 2022, but analysts think it could be a bumpy ride with analysis by MSI pouring cold water on the notion that low fleet supply will keep freight markets well supported in 2022. Read more in TradeWinds.
Eddie Steamship bags China Steel Express capesize for $23m
Eddie Steamship took advantage of a dip in capesize sentiment to add a fifth capesize to its fleet, but the buyer has not locked in an expected long-term charter. Read more in TradeWinds
How EEXI and CII will impact the S&P market
Decarbonisation programmes set by the International Maritime Organization (IMO), shipping’s regulatory body, will be one of the most difficult tasks for the industry in the coming years. This starts with the implementation of the EEXI, and CII criteria, all of which aim to reduce carbon intensity and will impact prices of the existing fleet. The first phase begins in January 2023. Read more in Splash Extra
Weak dry bulk market is forecast for near term
While a weaker note may be expected in the near term, given sliding rates during the past few weeks, optimism abounds for a quick recovery. Read more in Lloyd’s List
Parties settle dispute over failed Greek supramax sale
Chinese player receives compensation to drop claims on 14-year-old bulker, which has soared in value. Read more in TradeWinds
China’s slowing property sector may hit bulker demand
Maritime Strategies International explores the impact on dry bulk demand from China’s slowing property sector, with all construction-related commodities likely to see a decline in imports. Read more in Lloyds List
New figures suggest shipping rates may have passed their peak – but supply chain crisis to continue
Shipping rates from China to the US have “finally slumped” with spot rates halved on some routes due to power cuts and Covid-19 outbreaks in China, according to an industry report. Read more in The Institute of Export Trade News
Chinese player seeks redress in Greece over failed supramax sale
A budding Chinese owner has been frustrated in his attempt to buy his first ship after sellers allegedly failed to deliver the supramax as agreed earlier this year. Read more in TradeWinds
Capesize rates shrug off China concerns to set new high
While that is the case, MSI expects weaker rates to emerge before the end of the year due to growing fears of a potential slowdown in China that may impact trade. Read more in Lloyd’s List