Certain segments of the secondhand vessels market are set to do very well over the next two years. According to the VesselsValue & ViaMar’s Market Asset Value Forecast for the second quarter, LR1 product tankers, handysize bulkers and panamax container ships are seen benfitting the most from an upturn in market conditions, although all segments are seen rising
Freight market is showing much lethargy this week, which is similar to the week before as the shipping activities slowed down in June.
The freight market has returned to pre-Labour Day holiday level by the end of the week, thanks to robust steel demand.
The freight market went relatively quiet for the week, ahead of the upcoming May holiday in China. There were no last-ditch fixtures seen just before holidays period and the strong Capesize rates might be the only deterrent for the Baltic Dry Index to slide under the 1,300 level and allowed the index to stabilise at a respectable level of 1,375 reading on Thursday, 26 April 2018.
Tonnage oversupply has dampened the overall freight market outlook this week, especially in the case of the oversupplied capesize market.
Capesize paper market started the week on bearish notes after a slight recovery from the trading near the floor on the previous week. News of US tariffs on steel imports and China’s lower iron ore imports in February certainly did not help the capesize market either and cast more doubts on the market outlook ahead.