At least two cargoes of U.S. soybeans are heading for China as some buyers are willing to risk taking up historically cheap U.S. beans even amid worries that Beijing may take further steps to deter imports amid mounting trade tensions with Washington. Grain traffic from the United States to China...
Dry Bulk Market
Weakening Turkish lira and tariffs from US to have limited impact on global shipping demand
The ongoing weakness in Turkish economy and corresponding depreciation in Lira is making the country’s imports expensive. From the beginning of the second quarter, the Lira has depreciated by more than 50% against the US dollar and in addition, Turkey is also facing a trade tussle with the US. So...
Dry Bulk Market: Capesize Market Had a Mixed Week
Capesize A mixed week for the big ships with unfulfilled expectations. Rates on the West Australia/China route failed to hold and dropped to $7.20 for 7-9 October, with timecharter rates shy of the mid $15,000s, and this despite all the miners in the market. South Africa saw some fresh business in...
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-market-had-a-mixed-week/
Going long: Chinese steel mills chase iron ore contracts with Brazil’s Vale
Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron ore ahead of winter steel output cuts, a boon for the main supplier of such grades of the commodity, Brazilian mining giant Vale. China, the world’s biggest consumer of the steelmaking ingredient, needs...
Macroeconomic and Political Tensions Preventing Shipping’s Further Rebound
Dry bulk freight rates could be even higher than they now, as a result of increasing trade tensions and political instability around the world. In a recent weekly note, shipbroker Intermodal said that “a recovery in the shipping market since last year has buoyed optimism amongst the people in the...