The welcome surge in dry bulk market’s spot earnings at the end of 2016 is unlikely to last long into 2017, according to Maritime Strategies International (MSI), which predicts a depressed year for rates.While iron ore trade undershot its expectations, coal trade overshot them with geographical imbalances playing a key role. However, MSI believes the short term support factors will have unwound in a matter of weeks.Chartering of Capesize vessels for iron ore out of Brazil and Australia for January loading had slowed before year-end, dragging down spot rates. French nuclear power capacity is set to resume output in January, placing downwards pressure on Panamax coal demand, coinciding with a slowdown in grains trade from the US Gulf, MSI informs.“In our Base Case there is little to suggest any significant changes to the market through the remainder of 2017 and it is MSI’s view that freight rates will remain depressed. Overall, we forecast deadweight demand growth will broadly match supply growth at around 3-3.5% year on year,” Will Fray, Senior Analyst at MSI, said.“On this basis we see little reason for freight rates to move meaningfully, other than for short-lived or localised spikes,” he added.In the longer-term, MSI forecasts for 2018 and beyond are still positive but have come down since the last update, mainly as a result of a slightly more bearish view of Chinese steel production, iron ore imports and European coal imports.
Reported by admin Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window) Will frigid temperatures and below-zero windchills close Farmington Public Schools this week?The district took to social media Wednesday to explain its cold weather closing policy:The National Weather Service on Wednesday issued a wind chill advisory in effect from 5 a.m. until 4 p.m. on Thursday, when windchills are expected to range from -10 to -20 degrees below zero. The district’s policy seems more likely to kick in on Friday, when the windchill is expected to break the 20-below mark.Follow Farmington Public Schools on Facebook or Twitter for the latest school closing information.Keep Farmington Voice going strong this year! Make a one-time or monthly contribution via Paypal to join our patron community.
SOUTHAMPTON, England, CMC – Persistent rain quenched another fiery West Indies start and forced the abandonment of their ICC World Cup contest against South Africa at the Rose Bowl here yesterday. Opting to bowl first with rain in the forecast, West Indies had the Proteas tottering on 29 for two in the eighth over courtesy of strikes from left-arm pacer Sheldon Cottrell before rain intervened after just half an hour.A steady drizzle then engulfed the venue and frustrated match officials before they called time on the encounter following a couple of inspections.Both teams were awarded a point, leaving West Indies fifth on three points from three outings and South Africa one from bottom of the 10-team standings on a single point from four matches. “It’s unfortunate in that you can’t do anything about the weather situation. In terms of the point, we’ll take the point and move forward in the competition,” a disappointed West Indies head coach, Floyd Reifer said afterwards.South Africa captain Faf du Plessis also lamented the washout.“We wanted to play a full game today,” he told media here. “I think it’s pretty obvious that when you play a team like the West Indies you want to play a full 100-over game – just the make-up of their side. So it’s disappointing the fact we didn’t get a game.”Not for the first time in the tournament, West Indies started aggressively and were rewarded when Cottrell claimed the out-of-form Hashim Amla in the third over for six, caught by veteran Chris Gayle at first slip cutting at one with extra bounce and pace.Aiden Markram never settled and he fell to Cottrell in the seventh over for five, gloving a short delivery angled into his rib cage for wicketkeeper Shai Hope to take a well-judged catch diving to his left down the leg side. Opener Quinton de Kock, given out caught at the wicket off seamer Kemar Roach for one in the second over before gaining a reprieve courtesy of DRS, finished unbeaten on 17 and was partnered by du Plessis who was yet to score.Cottrell end with two for 18 from his four overs.West Indies made two changes from their last match against Australia, recalling Darren Bravo for the injured Evin Lewis and bringing in Roach for the rested Andre Russell. The Caribbean side will now turn their attention to hosts and tournament favourites, England, who they