Our Presentation at IMSF
Tradeviews attended the IMSF (International Maritime Statistics Forum) in Gothenburg, Sweden in May where we enjoyed many thought provoking presentations. The topics on discussion were:
- Shipping markets, trade and commodity demand
- Shipping costs
- Ship building
- Upcoming opportunities and challenges
Tradeviews gave a presentation on the latest trends in Dry Cargo Trade, focusing on the trends in 2014. We said we believed 2014 was an underperforming year with falling trade in iron ore and coal. The commodities that performed better were grain, fertilisers and construction based materials. However, the slowdown of the coal trade meant that overall growth was 3.7% compared to approximately 6% per annum from 2011 to 2013.
India had the strongest regional dry cargo growth increasing demand to nearly 270 million tonnes. While their growth rate is at nearly 20%, India is coming from a lower base compared to countries like China, so is still comparatively small.
In terms of cargo supply Australia have accelerated ahead of Brazil in the last few years which is one of the factors which has led to a downward pressure on the dry cargo market. Vale, the Brazilian mining group have not increased iron ore capacity at the same rate as Rio Tinto for example.
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