“Global markets seem to be going through quite a disconnect of late as on the one hand, the last couple of months has seen a multitude of directions that stock markets, trading
“Global markets seem to be going through quite a disconnect of late as on the one hand, the last couple of months has seen a multitude of directions that stock markets, trading markets, charter rates, financial and FX markets, and even the ship recycling markets have been greeted by versions of unfolding realities that seem to conflict with what’s been transpiring at the bidding tables of late,” says cash buyer GMS.
Various reports have been consistently confirming positive movements in dry / trading markets, oil up and down (with more down expected), financial markets wreaking havoc on the global ship recycling industry, and ship recycling volumes seemingly improving over recent weeks (primarily in India).
“And this week was another roller coaster of confusion.”
The Baltic Exchange Dry Bulk Index fell nearly 7 points on Friday, yet as Capes, Panamax, and Supramax indices all slipped 14, 3, and 4 points respectively. Yet, the overall benchmark reported a net 2.5% positive gain for the entire sector, driven primarily by the strength of Capes that reportedly firmed another 5.5%.
On the flip side, WTI crude slipped 1% down to $65 / barrel as Iraq’s Kurdistan region reportedly resuming crude oil exports after a
Content Original Link:
" target="_blank">
