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GMS Week 8 – IN TANDEM!

The steady footing that markets have recently found themselves on, continued for another week with Bangladesh once again taking most of the plaudits for another impressive showing and India maintained its strengthened state since last week (despite a marginal drop in local steel plate prices).

Pakistan on the other hand, continues to dither in status quo as it remains on the sidelines, uncompetitive against its sub-continent rivals and there seems to be no immediate hope of them returning to the buying (at aggressive numbers) any time soon.

Finally, Turkey remains positive and firm with not much change reportedly emanating for its key fundamentals i.e. local steel plate prices and the Turkish Lira.

On the sales front, there have been a few more off market fixtures reported this week – particularly a pair of private Capesize bulkers – as the dry market continues to feel the after effects of a largely turbulent period of time.

We have now seen over 7 Capes sold and beached since the start of the year and it may well be a busy few months (at least) ahead, particularly as rates on containers, dry bulk units and (now) tankers, all start to struggle in tandem!

For week 8 of 2019, GMS demo rankings / pricing for the week are as below.

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Source: GMS Weekly

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