Outlook for the dry bulk sector

Passed through the great recession from late year 2008 to 2010, the dry bulk shipping market seemed to have enjoyed some “peaceful” period until year 2014. After that, the downturn of the shipping cycle started again since year 2015. 10 February 2016 shall be marked as the darkest day of the dry...

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Main Author: Liu, Ji Yuan
Other Authors: Chua Chee Le, Vernlick
Format: Final Year Project
Language:English
Published: 2017
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Online Access:http://hdl.handle.net/10356/71688
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-716882023-03-03T17:06:13Z Outlook for the dry bulk sector Liu, Ji Yuan Chua Chee Le, Vernlick School of Civil and Environmental Engineering DRNTU::Engineering::Maritime studies::Maritime management and business Passed through the great recession from late year 2008 to 2010, the dry bulk shipping market seemed to have enjoyed some “peaceful” period until year 2014. After that, the downturn of the shipping cycle started again since year 2015. 10 February 2016 shall be marked as the darkest day of the dry bulk shipping industry ever – the Baltic Dry Index (BDI) fell into a historical lowest point of 290 among its 31 years’ records, by comparing of 556 points in year 2015 and 1096 points in year 2014 on the same day. In another word, on that day the Time Charter Equivalents (TCE) which can be understood as the dry bulk carrier’s daily charter hire revenue won’t be exceed USD 3000, regardless of the Capasize, Panamax, Supramax or Handysize, etc. As the daily revenue is far below the daily costs for a long period, shipping recessions are here to occur. In general, reasons for current shipping recession can be explained as imbalance of tonnage supply and cargo demand. When growth rate of ship tonnage is faster than commodity seaborne trading volume, freight rate will surely drop. In this report, I am going to analyze the current market situations and make some predictions about the dry bulk shipping trends in coming three to five years. Bachelor of Science (Maritime Studies) 2017-05-18T08:47:15Z 2017-05-18T08:47:15Z 2017 Final Year Project (FYP) http://hdl.handle.net/10356/71688 en Nanyang Technological University 44 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Engineering::Maritime studies::Maritime management and business
spellingShingle DRNTU::Engineering::Maritime studies::Maritime management and business
Liu, Ji Yuan
Outlook for the dry bulk sector
description Passed through the great recession from late year 2008 to 2010, the dry bulk shipping market seemed to have enjoyed some “peaceful” period until year 2014. After that, the downturn of the shipping cycle started again since year 2015. 10 February 2016 shall be marked as the darkest day of the dry bulk shipping industry ever – the Baltic Dry Index (BDI) fell into a historical lowest point of 290 among its 31 years’ records, by comparing of 556 points in year 2015 and 1096 points in year 2014 on the same day. In another word, on that day the Time Charter Equivalents (TCE) which can be understood as the dry bulk carrier’s daily charter hire revenue won’t be exceed USD 3000, regardless of the Capasize, Panamax, Supramax or Handysize, etc. As the daily revenue is far below the daily costs for a long period, shipping recessions are here to occur. In general, reasons for current shipping recession can be explained as imbalance of tonnage supply and cargo demand. When growth rate of ship tonnage is faster than commodity seaborne trading volume, freight rate will surely drop. In this report, I am going to analyze the current market situations and make some predictions about the dry bulk shipping trends in coming three to five years.
author2 Chua Chee Le, Vernlick
author_facet Chua Chee Le, Vernlick
Liu, Ji Yuan
format Final Year Project
author Liu, Ji Yuan
author_sort Liu, Ji Yuan
title Outlook for the dry bulk sector
title_short Outlook for the dry bulk sector
title_full Outlook for the dry bulk sector
title_fullStr Outlook for the dry bulk sector
title_full_unstemmed Outlook for the dry bulk sector
title_sort outlook for the dry bulk sector
publishDate 2017
url http://hdl.handle.net/10356/71688
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