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- Bulker Freight Market Update (10 Sep 2020)
As the last Australian reporters leave China, diplomatic tensions continue to rise between Canberra and Beijing. Whether China is ready to put tariffs on Australian iron ore imports remains unlikely, while still not as remote an idea as previously thought. The continued firmness of the iron ore price suggests the political reality is being factored in with no easy resolution in sight. For the Capesizes, it has been a quiet, nervous start to the week. In the Pacific, fixtures on the West Australia to Qingdao run continue to slip and rates are now rumoured to have been concluded at below US$ 7/mt for end-September laycan. There is also a lack of activity on the Atlantic trans-Atlantic markets and front haul bids for Tubarao/Qingdao voyages are heard to be down to around the US$ 16/mt mark with plenty of ballasters remaining unfixed. The outlook is negative.
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#Capesize freights precarious despite buoyant iron ore market and stronger Pacific import demand. #drybulk #maritime #dailysnippet #drycargo #Panamax #Supramax #Handysize https://www.bmti-report.com/bulker-freight-market-update-10-sep-2020/
https://www.nytimes.com/2020/09/09/business/coronavirus-sailors-cargo-ships.html
Handy bulk shipowners, struggling with tight margins and sporadic activity, hope for September recovery. #drybulk #dailysnippet #drycargo #maritime https://www.bmti-report.com/bmti-handy-bulk-update-3-sep-2020/
