Splash Extra

Reasons to worry for dry bulk

Splash Extra identifies plenty of ominous signs for a sector under pressure.

Macro-economic signals continue to affect sentiment in bulk carrier freight markets. Commodity prices are falling. Globally, lumber prices are down around 60% in September compared to June, copper down 35%, and iron ore down 60% from a March peak of nearly $160 to a low on September 22 of $89.5. Rio Tinto and its biggest customer Baowu Steel announced on September 14 that they would cooperate to expand Pilbara production, so investment in new production continues.

On the whole, though, Jun...

To continue reading, please login below or subscribe here.


Back to top button