Nov 18, 2020
Activists from the climate action group Ocean Rebellion perform a stunt outside The Baltic Exchange in London Credit: REUTERS/Henry Nicholls
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Activists from the climate action group Ocean Rebellion perform a stunt outside The Baltic Exchange in London Credit: REUTERS/Henry Nicholls
The Unbearable Boredom of Marine Asset Prices
The COVID-19 pandemic has been the low-probability-high-impact novel riskthat few people had seen coming and warned about it (mostly statisticians and epidemiologists) but the greater business community had ignored it till now. Coping with COVID-19 is still an evolving process, and the shipping industry has been learning to react and adjust to the forces the pandemic has unleashed on supply…
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Freight Derivative Trade Volumes Rise in 2018
Freight derivative volumes in the tanker market rose by 20% in 2018 hitting 321,962 lots*, volumes in the dry market were up by 1.4% to 1,196,929 lots, its strongest performance since 2008, while dry options volumes increased by 44% to 268,976 lots, finding similar levels to 2016.
Closer analysis of the figures revealed that on the dry bulk side panamax volumes grew by 10% and now account for nearly half (48%) of all dry FFA trades. Capesize volumes were down slightly on 2017, dropping 4.5% to 481,725 lots.
For dry options, panamax volumes grew by 65% to 82,987 lots, now accounting for nearly a third (31%) of all trades, with capesize volumes improving 37% to 182,575 lots to take a 68% share of the total. Supramax lots were down 3.5% (3,414 lots) on 2017 levels, accounting for the final 1% of the 2018 total.
The Baltic Exchange added that open dry interest stood at 207,891 lots on January 2, 2019, up 25% on January 2, 2018. Dry option open interest is also up with 185,724 lots open on January 2, 2019, up 57% on January 2, 2018.
For tankers, dirty trade volumes were up 53% on the previous year reaching 191,224 lots. Much of this growth took place in the final quarter of 2018 when an average of 5691 lots were traded each week. Clean volumes for the year were down 10% at 130,738 lots.
Open interest for tankers stood at 50,962 lots on January 2, 2019.
Press Releases: Baltic Exchange
Photo Courtesy: Baltic Exchange
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The Institution of Shipping
The Institution of Shipping #KaratzasMarine #BasilKaratzas
For someone to get an academic degree in accounting, for instance, it does not automatically qualify them to represent clients on accounting matters. This approach to qualification is not a judgment against the institution granting the degree, but the premise that the professional society of accountants – wherever they may be – make the effort to ensure that their members have to meet certain…
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Dry Bulk Vessel Prices Lagging the Freight Market
Dry Bulk Vessel Prices Lagging the Freight Market #KaratzasMarine @BasilKaratzas
The turnaround of the dry bulk freight market in the last eighteen months has been impressive and a welcome reminder that the shipping industry is an extremely volatile business. The overall Baltic Dry Index (BDI) has quintupled from March 2016 till now, while more spectacularly, the Baltic Capesize Index (BCI_2014) has decupled in the same period.
Still, in absolute terms, daily freight rates…
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IMC Shipping joins Baltic Exchange
IMC Shipping joins Baltic Exchange
IMC Shipping has joined the Baltic Exchange after being the first to apply for membership since the Singapore Exchange acquired the London shipping institution.
IMC Shipping – part of the IMC Industrial Group – joins over 650 Baltic Exchange member firms that encompass the majority of global shipping, said the Singapore Exchange (SGX) in an announcement.
The company’s business focus includes dry…
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A truck like this was used in the bombing of the Baltic Exchange in London's financial district, where the Gherkin is now. Doctrine at the time held that 1) an explosion in London was worth 100 in Belfast, and 2) that loss of infrastructure and money meant more to the forces of colonialism than loss of human life. To that end, a large fertilizer device with a 45 Kg semtex detonating charge was constructed and brought to the site. Three people were killed by the explosion. Two exchange employees and a young woman. The property damages were estimated at £800 million, far more than all the property damage from thousands of explosions that took place in Northern Ireland in the preceding three decades. Later it turned out the damage was much more extensive than perviously thought. Commerce was also disrupted badly.
What is the Baltic Dry Index and how does it work..??
What is the Baltic Dry Index and how does it work..??
Just like me (and am sure many others), Shome Moitra a Business Development | Strategy | Consultative Sales Professional is also surprised and amazed at how disconnected the maritime, shipping and freight industry is to rest of the world especially since everything we use has a connection to this industry.. Shome wrote this piece about BDI in an attempt to break the seemingly tenacious mainstream…
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