Dry cargo market report dated 24 May 2024
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Dry cargo market report
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Macro environment
Houthi attacks on ships in the Red Sea continue to severely impact trade lanes that normally transit the Red Sea and the Suez Canal. Transits of the Suez Canal remain 90-95% lower than at the same time last year. Though no resolution is in sight, we have in our base scenario chosen to assume that s... Please follow the link to continue reading.
Supply/demand balance
The disruption caused by ships being rerouted via the Cape of Good Hope remains the key ship demand driver. As a result, ship demand is forecast to grow three times faster than cargo volumes in 2024. Without it, ship supply would have grown faster than ship demand but instead we expect that the sup... Please follow the link to continue reading.
Macro environment
Houthis have continued to attack ships in the Red Sea and the Gulf of Aden. At the time of writing, 62 ships have been attacked and the ship capacity transitting the Suez Canal is 90% lower than last year. The combined volume via the Suez Canal and the Cape of Good Hope is, however, on par with last... Please follow the link to continue reading.
Dry cargo market report
MEMBER CONTENT – login using the orange button at the top of the page to view.
Dry cargo market report
MEMBER CONTENT – login using the orange button at the top of the page to view.
Dry cargo market report
MEMBER CONTENT – login using the orange button at the top of the page to view.
Dry cargo market report
MEMBER CONTENT – login using the orange button at the top of the page to view.
Supply/demand balance
We have revised our assumption regarding when ships might return to normal Red Sea and Suez Canal routings. In our previous report, we assumed that reroutings will only impact the first half of 2024. Since there are no signs of a resolution, we now work with a scenario assuming that all of 2024 will... Please follow the link to continue reading.
