the Tokyo-based company’s total fleet capacity because it also has ships hauling cargoes including oil and manufactured goods.
“The market is going to be 200 ships shorter this year than last,” said Mavrinac of Jefferies. “Given that, rates should strengthen pretty nicely.”
Do you have license for it too?
The second quarter took the dry bulk industry by surprise. It did not live up to expectations forecast by most analysts following the sector. Capesize vessels earned on average $11,900 per day compared to $16.300 per day the previous quarter, but still almost twice as much as the same quarter in 2013. Positive expectations were also reflected in the forward freight market (FFA) which priced the second quarter at $20,000 per day the last trading days of the previous quarter. Chinese steel production has grown by approximately six percent in the first half of 2014 from the previous six month period, which was in line or even above the consensus forecast. Analysts have also been right in their fleet growth assumptions, so the relatively disappointing fleet utilization has to be explained by other reasons.
Continued weak Chinese coal and bauxite import has meant a plentiful supply of Panamaxes to put pressure on Capesize through ratios in the coal trade. Coal demand from China has been considerably lower than anticipated due to more available hydro power and increased use of natural gas. Chinese imports and production of thermal coal each declined by one percent in the first half of 2014 compared to the first half of 2013. In addition, the ban on exports put in place by the Indonesian Government for nickel ore and bauxite, and a relatively moderate South American grain season did not support the smaller segments which again have a negative impact on Capesizes. China has been drawing down on bauxite and nickel ore inventories for the last six months and unless the ban is lifted sourcing has to take place from longer distances.
Iron ore which is the main demand driver for the Capesize segment has lived up to its expectations. China alone imported 457 million mt in the first half of the year, representing an increase of 19 percent year on year. The three major suppliers in Australia (Rio Tinto, BHP and FMG) have pushed forward their expansion plans an
Dry FFA from Martin at FIS “Levels are now trading a touch softer on Capes/Pmx vs yesterday while Smx/Handy are flat. The Cape 4tc average was +910 to 10,903/day but we started slightly softer and continued lower until buyers came in prior to index and pushed level up a bit. Some mixed chatter/opinions about the Cape index today so far so maybe see some volatility. Traders are expecting the Pmx/Smx/Handy to be slightly to moderately higher and volume has been on the lighter side so far. Sep is now trading down 2% on Capes and fairly flat on Pmx/Smx/Handy.”
He called " 2.71 gap to be filled nd markets down "
Spy up 50 points
Drys up 23 points
When Shangai goes up 8 points it inches up
When spy goes down 8 points it crashes
Or bears take control etc where's the balance nd why they are trying to scare people?
Especially MW needs to get rid of its bunch of losers
Even kem nd audio can do much better than them
I am not even kidding
Dry Bulk II: Scheduled loadings at Brazilian iron ore ports remains firm - 4 week scheduled loadings at Brazilian ports have remained strong into Q3 after a second quarter with healthy volumes. Scheduled 4 week loadings have averaged 21mdwt so far in Q3, compared to 18.6mdwt in the same period last year. Q2 averaged 20.3mdwt, a solid increase from the Q2/13 average of 14.4mdwt. The increase in scheduled loadings YTD could point to a strong second half in Brazilian iron ore exports, which would improve the current supply/demand balance in the dry bulk market. We remind our readers that the Capesize market only started moving in early-Sep 2013 and stayed above USD 40,000/day for only three days in H2/13 – but it did stay over USD 30,000/day for 38 days).
AuthorDavid Chinski | CommentPost a Comment | Share ArticleShare Article
entered 10k buy order for rxii ended up getting 600 shares now its up 0.10
and either dilution or some kind of bs to ruin the chart
but it acts like a scam when you look at the chart
it trades like a fucwking scam Chinese companies that shows $3 cash per share with tons of revenues but same time stock price is collapsing from $20 to $1 and steadily rgseq?
what a freak chart
up once a year down 364 days a year
is it a good time to bail?
l am not selling
l sold 10k yesterday that's the only good thing l did
today might be the last day but it never dropped 1 day
lets just hope they are not scam
once it breaks $3.10