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- Handy Bulk Market Overview (29 Sep 2023)
There has been increased talk of a weaker feel and owners’ willingness to compromise, which does not stop the market to become an intense battle ground for tonnage in the medium and long term future. The technical challenge to meet the decarbonisation standards is one problem, but the costs involved to meet these new standards could force many owners out of business. Thus, the owning landscape could be up for a profound change. As a consequence, as outlined earlier this week, decarbonisation might lead to a temporary lack of tonnage and, as a consequence, could severely hamper global trade. At any rate, the spot market remains in good health, despite a weaker sentiment. Off the Continent, a 28,000 dwt vessel got fixed at US$ 13,500 daily for a trip to the eastern Med. Handysize freights for trips to West Africa are hovering at around US$ 18-20,000 daily.
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Mixed results in eastern freights ahead of holiday week ⚓ #dailysnippet #drycargo #maritime #drybulk
Total of 32 #Turkey #scrap cargos recorded traded for Oct shipment. More to come. Most in 6 months.#Steel demand very weak + scrap supply from earthquake lowering import needs?! Over 70% of total is US, partly reflecting diff between US + Eurozone economic damage on supply in Sep
