European Short Sea Bulk Market Still Depressed

The summer lull is here to stay, at least judging on demand on the European short sea bulk market, which resumes a downward course as the activity persists on flat/soft level.

 
Depression of demand, coupled with an abundance of spot tonnage across all areas resulted in a rush of interest from ship owners for the limited firm cargoes entering the market, according to the Irish Maritime Development Office’s (IMDO) review for the past week.

Rates accordingly were placed under downward pressure, although the scope for further decline continues to lessen as the market reaches its bottom.

Compared to previous years, summer 2014 looks set to be one of the weakest, with rates currently 10% lower than the same period last year.

“In the short term, any upturn is dependent on how the summer harvest impacts the marketplace. During the past week, an increasing number of grain cargoes have been entering the market, but weak demand from other sectors has caused rates to remain flat to soft, a trend which is expected to continue in the coming couple of weeks,” said IMDO.

IMDO, July 24, 2014

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >