Interesting week ahead for the shipping markets. The indices have dropped significantly over recent times and shipowners are starting to get nervous.
Lots of good news coming out of the developing worlds with regards to growth but there is still a huge questionmark as to whther this growth is sustainable (mostly based on government spending) and also the effect of freight rates on things such as stockpiling by the Chinese.
China imported record levels of iron ore last month and although freight rate firmed they did no go ballistic like previous years. There is concern now that we may see a sustained market sofening in the short to mid terms.
Also on the horizon is a huge influx of new ships coming ex yard. This means an increase in the supply side equation and hence more pressure on freight rates. In order to balnce this the market is waiting to see if shipowners start to scrap older vessles in order to keep the market at reasonable levels.
BTW a big thank you to all those who continue to support the blog and the books. Yesterday sold a book to someone in South Africa. Sofar people in 26 countries have read about the mysteries of international shipbroking as explained by VS. The feedback is always appreciated.
Have a nice week wherever you may be!
- The Virtual Shipbroker
- Hi. I am a shipping company director, transport academic, author, family man and all round nice guy. I have worked as shipbroker, shipowner, freight trader and bulk charterer, in senior positions, with some of the largest and most disrespected (joke) companies in the world. Ask my advice on all things shipping and you will receive my blunt and always honest answer. Hang around to learn more about chartering and ship broker salaries, chartering and ship broker jobs, chartering and shipbroker recruitment agencies, cheap freight, maritime education, chartering and ship broker qualifications, become a ship broker, tips on how to be a successful bulk shipping executive, philosophy, Zen and the art of shipbroking, and much more. Yours The Virtual Shipbroker (recently proclaimed the guru of shipbroking) Copyright © 2009-17 by Virtualshipbroker