Dry Bulk Market: Week Ends on A High Note

A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, West Australia/China staged a recovery, with a rumour $9.00 was done as well as $8.90, up from $8.40, fixed 24 hours earlier. Timecharter rates appeared to be
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VLCC Rates eased in the Middle East Gulf as charterers focused on ‘disadvantaged tonnage’ with South Korea and China fixed at WS 77.5 and WS 80, but recovered as GSC took DHT tonnage at WS 85 for 270,000mt cargo to South Korea. Westbound rates for 280,000mt to the US Gulf still hovered around WS 32/33
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Deals aren’t being concluded as fast as they could be, based on the number of candidates in the ships’ demolition market. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “it would appear that we have returned to the ‘unknown’ zone with plenty of vessels being talked into the market but a wide
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World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. This is the same amount that was produced in August and is 10.3 million tons (7%) more than was reported last year for September 2017’s production. The increase has been robust, but it has been Chinese
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The global oil industry is about to break the historic milestone of consuming more than 100 million barrels of oil per day, according to Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC). Speaking at the annual Future Investment Initiative Conference in Riyadh,
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Pity China’s brokers. Not only must they grapple with the challenges facing their U.S. counterparts of shriveling commissions amid a stock rout – they’re compelled to keep riding to the rescue of the market. In the 2015 bailout, the brokerages were asked to buy stocks in the open market as part of the so-called national
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Indian exporters have an increased opening to tap the US market given the escalating trade war between the US and China, the Department of Commerce has surmised. It has reportedly identified close to 180 items where Indian players can take advantage of the opportunity that has opened up due to higher duties imposed by the
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What if in the future the world’s biggest container handling company didn’t even touch physical containers? The ongoing convergence of key disruptive technologies such as AI, the IoT, machine learning, augmented reality and blockchain is expected to lead to an autonomous supply chain that will react to every contextual situation based on the real-time data
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The crude oil price appears firmly in the hands of geopolitical concerns, with veiled Saudi threats over the disappearance of a journalist and the ramping up of U.S. sanctions against Iran getting most of the attention. However, it’s always worth looking at what is happening in the real world of physical oil flows and pricing,
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Doctor Copper is at it again, signaling upside for mining stocks, according to some analysts. This, despite it being largely overlooked by investors, and even feared by others stewing over the implications of the trade spat between the U.S. and China. The Basic Resources sector in Europe is trading lower than its starting point for
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