Signal Group have seen increased optimism in the dry bulk market
Published by Oliver Kleinschmidt,
Editorial Assistant
Dry Bulk,
During the fourth week of November, larger ship categories maintained stability from preceding days. Notably, the panamax vessel size exhibited noteworthy gains. Meanwhile, the uncertainty surrounding a stronger momentum for the capesize segment appeared to have diminished, showing signs of an upturn.
Of particular interest was the observation that the surge in demand tonne days for capesize vessels, noted since mid-October, played a pivotal role in creating a more robust freight environment. That, in turn, contributed to a more optimistic outlook as the end of the month approaches.
Meanwhile, iron ore prices have started to find a firmer environment with positive news on the Chinese economic stimulus drive. According to mining.com news, iron ore experienced a remarkable rally, reaching its highest intraday price since February, driven by growing optimism about demand. The key steelmaking commodity rose by up to 2.3% in Singapore, after gaining 2% the previous day. This momentum was fuelled by an editorial in the state media, which emphasised that the funds from the ¥1 trillion (US$140 billion) bond issue announced by Beijing should be used immediately for construction projects.
Click here for the original Signal Group article.
Click here for free registration to Dry Bulk
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/23112023/signal-group-has-seen-increased-optimism-in-the-dry-bulk-market/
You might also like
AAR reports on rail traffic for April
The AAR has provided its report on US rail traffic for the week ending 27 April 2024 and the overall volumes for April 2024.