Express News | The Baltic dry bulk freight index fell to a one-week low.
Will the bull market continue for shipping futures, which surged by 402%?
From the performance of the spot market, as the freight level gradually increases, the market acceptance is also orderly advancing, and the current spot freight has not seen the top. Maersk CEO Soren Skou said, "We still don't know how much cost we can recover, and how long it would take to recover our costs, but the high rates we see for now are only temporary."
Index of shipping collective surges! Marine transportation situation explodes, will the high running cost in the second half of the year become a fixed pattern?
Baltic Dry Index Jumps to Nearly Two-month High as Capesize Spot Rates Spike
Glimmer Of Hope Despite Challenges In Global Shipping Environment
The World Trade Organisation (WTO) revised its forecast for global trade volume growth to 2.6% from an earlier 3.3%, citing reduced water levels in the Panama Canal due to severe drought conditions.
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Singapore port is crazy congested! With the arrival of peak shipping season, will the 'big jamming vessels' continue to drive up freight rates?
The congestion at Singapore port highlights the ripple effect of the Red Sea attack on the global economy.
A new risk has emerged in global shipping: tens of thousands of American port workers may stage large-scale strikes.
① The global transportation industry is facing a new risk this week: Dockworkers at ports along the east coast and Gulf of Mexico in the USA may hold a large-scale strike. ② If the union initiates the strike in early October, it will coincide with the peak shipping season for US holiday containers and the critical period before the US election, which is likely to have an impact on domestic politics and global trade security in the USA.
Shipping stocks are rapidly surging! The crisis in the Red Sea has triggered soaring freight rates, and these concept stocks have already doubled in value this year.
In May, the index for block orders (European line) continued to rise, with a cumulative increase of more than 40% throughout the month, and multiple times refreshing historical highs.
The Red Sea is all to blame for the epic “Big Boat Jams”!
The diversion of merchant shipping caused by the Red Sea crisis is triggering a “butterfly effect” around the world. The average shortest transit time from Asia to the Mediterranean has increased by nearly 40%, leading to congestion at major Asian ports such as Singapore, and a drop in the punctuality rate of container ships. The chain effect is also affecting air freight prices.
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Recovery in global commodity trade pushes up shipping charges and resurgence of tight supply chains
The catalyst for the month-long rise in sea freight rates came more from concern than optimism, including concerns about Asian port congestion, North American labor strikes that could hinder port or rail services, and heightened geopolitical tension.
Shipping revival? I don't believe Oma!
Damo believes that judging from the relationship between supply and demand, the Red Sea crisis only delayed the arrival of a downward cycle in the shipping industry. Once the disruptions are eliminated, the industry may return to a cyclical slump.
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Navios Maritime Holdings Inc.'s Tender Offer Deadline Is Midnight on June 7, 2024 to Receive $4.75 in Cash for All Holders of ADSs (Series G & H)
GRAND CAYMAN, Cayman Islands, May 23, 2024 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. ("Navios Holdings" or the "Company") today provided a reminder of its continuing previously announced tender offer to
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Navios Maritime Holdings Inc. Provides Important Reminder for All Holders of Series G And Series H American Depositary Shares: Early Tender Deadline to Receive $5.75 in Cash Is Today at 5:00 P.M.
GRAND CAYMAN, Cayman Islands, May 21, 2024 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. ("Navios Holdings" or the "Company"), today provided a reminder of its previously announced tender offer to purchase any and