As we begin November and head into the winter season, SMU took a quick look at shipping conditions in the various transportation modes. Seaborne Stabilizing global steel prices and an increase in Chinese coal imports have helped seaborne freight rates rebound from their lows of early 2016. Vessel overcapacity continues to make any improvement in […]
With the end of October at hand, it is time for SMU to take another look at shipping conditions around the U.S. Seaborne MID-SHIP is seeing improvement in freight rates and fuel prices and an increase in period chartering activity for seaborne cargo. A surge in coal pricing in the past few weeks has resulted […]
On Friday this week the Bureau of Labor Statistics (BLS) released its series of producer price indexes, for more than 10,000 goods and materials. For an explanation of this program see the end of this piece. The latest release this week reported results through September. We run this analysis every three or four months to […]
Freight reports are mixed for August and September. Seaborne freight is seeing a resurgence in volume and pricing while U.S. truck, rail and river freight has been somewhat weak. August was reported as a good month for cargo shipments on the Great Lakes and St. Lawrence Seaway. Seaborne An increase in China demand for coking […]
MID-SHIP Group expressed optimism in its first report of the fall season. The Sept. 8 MID-SHIP Report said the group is “cautiously optimistic” about better dry bulk shipping demand in the second half of 2016. Oversupply of vessels continues to be a problem but as the seasonal grain shipments begin late in September demand should […]
Each month Steel Market Update looks at shipping conditions on the seas, rivers, rails and highways. July freight volumes were down somewhat in the first half of July for cargo moved by rail and truck. Barges on America’s rivers are seeing an uptick in rates due to several lock closures. Seaborne shipping is seeing a […]
Spot market prices continue to rise in the seaborne freight market according to the June MID-SHIP Report. As of July 4, the Baltic Dry Index was at 688, nowhere near its five year high on December 13, 2014 but well above its trough of 290 on February 11, 2016. The BDI tracks shipping rates for […]
Freight levels for dry bulk cargo are slowly recovering from the historic lows seen in first quarter of this year, according to the most recent MID-SHIP Report. The dry bulk market continues to suffer from an oversupply of vessels and slow demand growth, although rates are generally holding firm in most of the seabourne markets. […]
The May 12 MID-SHIP Report indicated the freight market took a downward turn last week. Capesize vessels hauling iron ore from West Australia to China dropped to $3.60 per tonne from a recent high of $4.50 per ton. Panamax, Handysize and Supermax also slid downward during the week. Said MID-SHIP in a tongue twisting turn […]
The ocean bound freight market had a bit of good news last week—the Baltic Dry Index rose to 517 on April 7 and closed the week out on April 9 at 539, nearly an 86 percent increase from mid-February’s historic low of 290. MID-SHIP Report says a celebration is not yet warranted since the BDI […]
Business conditions are still terrible in the ocean freight market as vessel operators cope with oversupply of ships and weak demand. Wrote MID-SHIP in the March 24 MID-SHIP Report, “The freight markets are at levels not seen or experienced for 30-35 years and there is no silver bullet in sight, even though there is a […]
MID-SHIP Group sees evidence of a strong South American grain harvest helping to boost spot market freight levels for the dry cargo freight market. Oversupply of vessels remains a problem and vessel lay-up and scrapping is continuing. MID-SHIP anticipates continued market pressure due to oversupply and slowing demand growth. The Baltic Dry Index stood at […]
Seaborne shipping market rates continue to plummet with the Baltic Dry Index reaching another new low this past week. The Index stood at 290 on Wednesday, Feb. 10; a year ago on that date the BDI stood at 556. To get a better perspective on how bad things are, the highest level ever reached was […]
Two fewer selling days and brutal winter weather may have played a part in softer automotive sales in January. GM and FCA sales were up 9 percent and 7 percent, respectively, but Ford sales slipped 3 percent year over year. Toyota and Honda sales were down year over year as were sales for Nissan and […]
The shipping season on the Great Lakes officially ended with the closing of the Soo Locks on Friday, Jan. 15. The locks in Sault St. Marie are the last to close for the winter season. The Welland Canal, through Ontario, closed on Dec 30 followed by the St. Lawrence Seaway locks on Dec. 31. The […]
On Tuesday, January 19, the Baltic Dry Index hit its lowest point ever, dropping to 363 points. The BDI tracks shipping rates for dry bulk cargos like iron ore, coal and grain and is considered a barometer for global steel trade. To put things in perspective, six months ago, on August 8, 2015, the Index […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes, for thousands of goods and materials. For an explanation of this program see the end of this piece. The latest release last week reported results through November. We run this analysis every three or four months to give readers […]
U.S. auto sales reached 1.32 million vehicles in November, a 1.4 percent increase. The seasonally adjusted annual rate according to WardsAuto, was 18.12 million vehicles, the third consecutive month above a SAAR of 18 million units. WardsAuto estimates that December sales will have to reach 1.7 million units to get a fourth consecutive month at […]
Seaborne freight is still experiencing low rates due to limited cargo volume in a general global economic slowdown, according to the latest MID-SHIP Report. Dry bulk market rates have been at historic lows this year as operators struggle with low demand and vessel oversupply. The Baltic Dry Index stood at 721 on Oct. 30, falling […]
Shipping in the various transportation sectors is relatively subdued in October. Low freight rates for seaborne cargo continues to be a problem for carriers, according to the Oct. 15 MID-SHIP Report. Low volumes, weak worldwide economies, and a strong dollar are affecting rates for both bulk carriers and container lines. The Baltic Dry Index was […]
U.S. automotive sale results were released today under the shadow of a failed UAW tentative agreement with Fiat Chrysler. However, auto manufacturers kept their successful sales run going again in September. The Detroit Big Three all enjoyed double digit increases in sales last month. Ford gained 23 percent, General Motors 12 percent, and FCA 14 […]
Freight rates for seaborne cargo continue to remain low said MID-SHIP in their Sept. 16 report. Trade has fallen due to weak global economies and the downturn in China, triggering lower commodity prices and freight rates. Oversupply of vessels eased over the summer as many were scrapped and new orders decreased. The respite was short […]
General Motors wants to bring electric cars to the masses not just the “elite.” GM CEO Mary Barra, in an interview with LinkedIn’s executive editor Daniel Roth, said the all-electric Chevy Bolt (with a “B”) will be offered to the public at $30,000 compared to Tesla’s $75,000 vehicle. Electrification is for everyone, “not just the […]
Seaborne Freight The dry bulk market may have bottomed out in May and has been steadily creeping higher during June. The Baltic Dry Index closed at 823 on Friday, June 26. The BDI peaked on November 5, 2014 when the Index was at 1484 and dropped as low as 509 on Feb. 18, 2015. The […]
MID-SHIP continues to report concerns over weak demand in the dry cargo market coupled with over-supply of ships. The drop in shipping to and from China has pushed freight rates to their lowest levels since the mid 1980s according to the May 12 MID-SHIP Report. The Baltic Dry Index (BDI) was at a low of […]
The seaborne freight market has been relatively flat in the past few weeks. The Baltic Dry Index was at 602 at the end of March but has been under 600 for most of April. As of Friday, April 24, it registered at 600. The BDI tracks dry-bulk rates based on vessel size and shipping route […]
The Baltic Dry Index hit a thirty-year low on February 23 registering a reading of 512. As of March 11 the index increased to a still dismal 565. The Index tracks shipping rates for dry bulk cargoes like iron ore, coal and grain and is considered a barometer for global steel trade. The MID-SHIP Group […]
The Cass Freight Index Report shows freight shipments increased in February along with freight expenditures. Shipments were up 5.5 percent last month and 0.9 percent year over year, driven by seasonal demand for heating oil, coal, and sand. The American Trucking Association (ATA) reported trucking rose 1.2 percent in January. The For-Hire Truck Index stood […]
Each month the Bureau of Labor Statistics, (BLS) puts out its series of producer price indexes, for thousands of goods and materials. For an explanation of this program see the end of this piece. The latest release last Wednesday reported January results. We run this analysis every three months to give readers an opportunity to […]
Dry cargo rates continue to plummet as the Baltic Dry Cargo index dropped to record lows last week. The index fell to 553 on Wednesday and continued to slide downward to end the week at 530 points. MID-SHIP says shipowners and operators are suffering major revenue losses, with one owner/operator declaring bankruptcy last week. Charterers […]