GMS Week 41 – Owners Hold All The Cards
Last week, Chattogram reclaimed first place on the conventional recycling board. This week, its leading bid has been left looking for something to buy. Across the sub-continent, the familiar imbalance persists: end buyers are available, prices remain broadly intact, and the ships needed to turn both into transactions are still earning money elsewhere. The market ...
The owners of merchant ships are the dominant force in the current shipping market, with a shortage of willing sellers and a preference for maintaining their existing vessels. Despite the ongoing recovery in Gulf shipping, renewed tanker attacks in the Strait of Hormuz have raised concerns over passage, security, and insurance. The threat of further disruption remains, causing shipowners to navigate a Gulf where commercial passage carries more risks.
Oil prices have experienced volatility, with Brent climbing above $105 per barrel before retreating, while WTI traded around $90. The Baltic Dry Index has also softened, with Capesizes slipping to 4,512 and Panamaxes and Supramaxes holding steady. Despite a softer freight market, the macro picture remains mixed, with inflationary pressures in India, Bangladesh, Pakistan, and Turkey.
The market continues to favor buying interest over transactional activity, with the final quarter developing in a cautious manner.
Brief written by urgent.news from Hellenic Shipping News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.