#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.
Container Market: Sustainability on the horizon - The container market is forecast to become more sustainable in the coming years as supply and demand continue to rebalance, however pressure on shipping lines is not expected to relent. Shipbrokers Braemar Seascope expect annual demand growth in the market to reach 4-5% for the next three years,marking a more positive outlook than earlier forecasts of 3% in 2013.
Dry Bulk Market: Change of focus for leading indicator of dry bulk market health? The direction of Chinese economic policy is being touted as the main leading indicator for determining the health of the dry bulk market, according to Hellenic Shipping News. Traditionally, iron ore demand and production figures have been used by analysts as the leading indicator for the dry bulk market, with the movement of iron ore, used in steel production, seen as leading determinant of dry bulk rates.
Tanker Market: Ardmore to raise further $75 million Cork-based tanker owner, Ardmore Shipping, announced plans last week to further finance its newbuilding activities through a share offer of $75 million, according to TradeWinds. The company, listed on the New York Stock Exchange, will sell 4.6 million shares (with a further 700,000 as an option for underwriters) at a maximum price of $13.97 each.
For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 7). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.
