Barge activity on the lower Mississippi remains strong. Winter weather has hindered freight movement in a few northern regions and barge availability is tight in some areas, according to the latest MID-SHIP Report. Northbound barges are showing strong steel and salt cargoes. Stevedores have been working vessels as they arrive in New Orleans and elsewhere […]
Ship owners are reporting “staggering losses” says the January 15 MID-SHIP Report. “Dry cargo freight rates are basically in “free fall” because of very low bunker costs coupled with major over supply of ships thus forcing freight levels down to where they were in 1982-1986,” according to MID-SHIP. The Baltic Indices all registered declines in […]
The Cass Freight Index report showed a 6.3 percent month-over-month drop in shipment volume in December, in line with seasonal expectations. The peak holiday shipping season is generally July to September, but Cass Information Systems says the peak in 2014 was earlier due to concerns related to the expiration of the ILWU labor contract at […]
The ISM Manufacturing Index retreated again in December. The Institute of Supply Management released their December report on January 2nd and after the October surprise on the upside, the index slid back once again from 59.0 to 58.7 in November and to 55.5 in December, however this is still equal to the average for the […]
Low oil prices are giving truck carriers a break through diesel rates that are at their lowest level since February 2011. The average U.S. diesel price was $3.535/gallon as of December 8, 2014, a drop of $.34 from a year ago. Fuel savings add up during winter months when storms can cause delays and idling […]
Each month the Bureau of Labor Statistics, (BLS) puts out its series of producer price indexes, for thousands of goods and materials. The latest release on Tuesday reported October results. We run this analysis every three months to give readers an opportunity to become aware of any changes in the competitive position of steel against […]
Freight shipments, especially imports, are on the climb as the nation looks toward an economically stronger holiday season. The Cass Freight Index, which follows freight expenditures and shipment volumes, showed shipments increased in October by 3.3 percent year over year but fell 0.9 percent on a monthly basis. The slide, says Cass Information Systems, is […]
MID-SHIP Group reports that the two biggest factors impacting the dry cargo freight market right now are U.S. and South American agricultural products and Chinese imports and exports. Expectations for strong exports of agricultural products are high but not much has hit the export market yet. Iron ore imports into China have slowly started to […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of Producer Price Indexes (PPI) for thousands of goods and materials. The latest release on Friday reported July results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials and rail vs truck transportation. […]
Each month the Bureau of Labor Statistics, (BLS) puts out its series of producer price indexes, for thousands of goods and materials. The latest release on Friday reported May results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials and this month for the first […]
Dr. Chris Kuehl, one of our Steel Summit keynote speakers and Managing Director of Armada Corporate Intelligence, provides a monthly overview of economic and global risks facing the U.S. economy and the steel industry. Armada’s June summary is as follows: 1. GDP growth expectation has dropped to 2.1% for the full year, but… The IMF, […]
The enormous undertaking by the US and Canadian Coast Guard to clear the Great Lakes of ice this year underscores the need for passage of the Water Resources Development Act (WRDA). Over 200 million tons of cargo, including iron ore and coal for steel mills, are shipped every year through the Great Lakes, according to […]
AK Steel CEO James Wainscott, in the company’s earnings conference call with analysts, reported that their blast furnaces were running at reduced capacities due to the ice problems on the Great Lakes. US Steel has been upfront by reporting their Gary Works steelmaking operations are running at less than capacity as they struggle to get […]
Barge shipping is beginning to accelerate as winter ice melts on US waterways. The MID-SHIP Report says navigation has resumed on the Illinois River and the middle section of the Upper Mississippi, north to Clinton, Iowa. The Upper Mississippi is still ice covered and chunks of ice on both rivers are slowing barge transit. The […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes for thousands of goods and materials. The latest release on Friday reported February results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials. See below for the official description […]
Each month the Bureau of Labor Statistics puts out its series of producer price indexes (PPI), for thousands of goods and materials. The latest release on Wednesday reported December results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials. See below for the official description […]
Earnings for the shipping market are bullish right now according to the Dec. 4 MID-SHIP Report, with continued optimism for next year’s market. Average earnings for forward freight agreements in 2014 are expected to increase by 13 percent for Handysize, 18 percent for Supramax, 22 percent for Panamax and 28 percent for the Cape market. […]
Shipping markets in the Gulf are seeing some strong rates as producers are anxious to fix and load cargoes before the holidays and year end according to the November 20th MID-SHIP Report. Shipping rates in the The Cape and Panamax markets have eased in the past two weeks but Chinese steel mill restocking of iron […]
Shipping in the Capesize Market is beginning to slow down after a strong September driven by iron ore restocking in China and exports of ore from Brazil. According to the MID-SHIP Report on Oct. 10, average Capesize earnings fell to $33,368 from $42,211 two weeks ago. Time charters averaged $30,000 prompting owners to turnover cargo […]
The shipping industry is set for a profitable year for the first time since 2010 according to the September 25 MID-SHIP Report. Freight rates are continuing to rise and demand for large size ships is finally beginning to outpace supply. The industry has faced a supply glut partially due to shipyards offering vessels at low […]
Freight rates on seabourne vessels have escalated according to this week’s data in the MID-SHIP Report. Prices have been volatile over the past few months and are expected to continue to rise in the fourth quarter. Oversupply of vessels continues to be a problem but economic improvement in the EU, America and China, and […]