Braemar

Containership sector near to the demolition of the largest vessel

A steep decline in demand as a consequence of the Covid-19 crisis and the faltering charter market has sparked an interest in the scrapping of larger container ships, as expectations that the stagnant demolition market will start to move soon.

An indication of the shift in scrapping interest came with the news that, Greek owner Costamare is in discussion to sell its 7,403TEU boxship Kokura for scrap. If the company closes the deal, Kokura will be the largest container vessel ever sent for...

https://container-news.com/containership-sector-near-to-the-demolition-of-the-largest-vessel/

Opinion: Old feeders key to the new normal

As an industry, the maritime sector, has become used to the litany of data revealing the extent of the damage the Coronavirus is wreaking on globalised economies, in Europe, North and South America, Asia and Africa at different intensities and in sequence as the viral tide sweeps out from its Asian epicentre.

It’s taken just four months of this year for us to get used to this latest standard, that will, we are told, change the world. In reading shipbroker Braemar’s quarterly market report what...

https://container-news.com/opinion-old-feeders-key-to-the-new-normal/

Economic spring a mirage in the Covid desert

Reports of the apparent gradual lifting of restrictions in Spain and Italy and some evidence of a reduction in the number of hospital deaths in the UK have given rise to speculation about how the global economy might get moving again.

Notwithstanding the fears of a “second wave” of infections seeing the recovery slide into relapse, there is a sense that these projections are less a Covid Spring and more a false dawn.

Shipbroker Braemar points to the reawakening of industry in the Chinese economic...

https://container-news.com/economic-spring-a-mirage-in-the-covid-desert/

Charter market stagnation not likely to last says broker

Expectations of a rate correction in the charter market are high as owners and buyers look for solutions for delivering vessels.

In the short-term rates have stabilised, but with the reality of cancelled services, nearly 400 to date, and the growing number of vessels being redelivered it is only a matter of time before charter rates will find a new, lower, level, said the Braemar.

Activity, while not totally stagnant is severely subdued, added Braemar, with owners and buyers collaborating on...

https://container-news.com/charter-market-stagnation-not-likely-to-last-says-broker/

Brokers’ say global googly a macroeconomic disaster

Global trade is in turmoil after the googly thrown at it by the Coronavirus, which has turned the outlook sharply from the expectation of decent growth to a likely batting collapse.

For the uninitiated the googly is a spinning ball that looks, when bowled, like it will head in one direction, but turns sharply in the other direction when it pitches. But cricketing analogies aside, there is a serious feeling that this year the global economy could be written off, as growth collapses like an...

https://container-news.com/brokers-macroeconomic-outlook-is-a-slow-motion-car-crash/

Minimal sale and purchase activity a reflection of depressed market

Macroeconomic indicators remain depressed with the International Monetary Fund revising its China GDP growth downwards by 0.4% to 5.6% for 2020 as a result of the COVID-19 virus outbreak.

Braemar reports that Chinese firms have been caught in a “credit crunch” with mounting debts, meaning that many companies are unable to pay staff or suppliers as a result of the lockdown in many parts of China.

“The Chinese government has asked banks to offer more credit for an economy stunned as the virus...

https://container-news.com/minimal-sale-and-purchase-activity-a-reflection-of-depressed-market/

Broker gloom persists in viral malaise

Braemar’s Timecharter index is still at a level closer to the 52 high than the annual low, but that is more likely to be a lag in the system than any real hope that the market is picking up in the short term.

In fact brokers’ reports this week are continuing the pessimistic theme outlined in last week’s report with George Lazaridis researcher at Allied Shipping in Athens arguing that there is a multi-layered freight system as a result of the COVID-19 virus.

“Prior to the beginning of this year,...

https://container-news.com/broker-gloom-persists-in-viral-malaise/

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