China Merchants Energy Shipping (CMES) expects to record around RMB11.3-RMB12.5bn net profit in 2018, $1.84bn a huge increase of 84%-104% year-on-year.
China Navigation Co (CNCo) is acquiring the dry bulk shipping business of Hamburg Süd as the German company focuses on container shipping as part of Maersk.
What happens when a warm front, in the form of improving prospects in the drybulk and other corners of the maritime markets, clashes head on with a cold front, in the form of overall economic nervousness sprinkled with interest rate hikes, a China slowdown and trade flow jitters?
The Baltic Dry Index (BDI) appeared to be a tight rope walker this week on the verge of falling off from the 1,000 mark.
After a week-long National Day holiday, the return of the Chinese trade participants failed to rekindle the freight market.
Capesize freight rates rose higher this week, thanks to firmer bunker prices. However, as the week goes by, trade uncertainty started to creep into the market due to weaker freight derivative market.
Market sentiment for Capesize market was on the rise this week despite the widening gap between the physical and paper market.
Like a weary boxer, the Capesize freight market crumbled just before the knockout blow of escalating US - China tension.