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Jeffrey Landsberg News

25 Jan 2019

Global Shipping Rates Slump

© abbit75_fot / Adobe Stock

Freight rates for dry-bulk and container ships, carriers of most of the world's raw materials and finished goods, have plunged over the last six months in the latest sign the global economy is slowing significantly.The Baltic Dry Index, measure of ship transport costs for materials like iron ore and coal, has fallen by 47 percent since mid-2018, when a trade dispute between the United States and China resulted in the world's two biggest economies slapping import tariffs on each other's goods.Dry-bulk commodities are taken as a leading economic indicator…

30 Jul 2015

Asia Dry Bulk-Capesize Rates Could Soften

Capesize market "overheated" as rates near eight-month highs; optimism for a busier fourth quarter looms. Freight rates for capesize bulk carriers are likely to take a breather and drift lower after climbing to their highest level in nearly eight months this week following bad weather delays and charterers' need for urgent tonnage, ship brokers said. "It's been really hot. Both the Atlantic and the Pacific have become overheated. That's why I think it will be bit of a quiet week," said a Shanghai-based capesize broker. "Owners are pushing for more than $16 per tonne from Brazil to China, while charterers are offering $14 per tonne. There is a nice $2 spread which means nothing will be done while both sides reassess the market," said a Singapore-based capesize broker.

31 Jul 2014

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from Brazil to China if chartering activity increases, brokers added. "There's no real direction to the capesize market. There's not enough cargo volume," one Singapore based capesize broker said on Thursday. Around 35 capesize ship were chartered last week to haul iron ore from Australia and Brazil to China, the largest number of capesize vessels fixed since September 2013…