“This is a little unexpected since a lot of the Far East is on holiday,” Alibra Shipping founder Giuseppe Rosano told TradeWinds.
But the market may be benefitting from Russia sanctions adding tonne-miles to bulker trade routes and China implementing stimulus measures to get the economy moving again, he said.
“Hence we are now seeing the stimulus measure coming into fruition,” said Rosano, whose firm is a UK broking house.
<!-- Port congestion and low supply are also supporting higher spot rates, he said.Rosano kept to his bullish forecasts, though the falling forward freight agreement (FFA) market indicated lower physical rates in the months ahead.
“It takes time to feed through,” Rosano said. “This industry is very fickle.”
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“This is a little unexpected since a lot of the Far East is on holiday,” Alibra Shipping founder Giuseppe Rosano told TradeWinds.
But the market may be benefitting from Russia sanctions adding tonne-miles to bulker trade routes and China implementing stimulus measures to get the economy moving again, he said.
“Hence we are now seeing the stimulus measure coming into fruition,” said Rosano, whose firm is a UK broking house. Port congestion and low supply are also supporting higher spot rates, he said.
Rosano kept to his bullish forecasts, though the falling forward freight agreement (FFA) market indicated lower physical rates in the months ahead.
“It takes time to feed through,” Rosano said. “This industry is very fickle.”
By Michael Juliano (Stamford)
(Originally published at Tradewindsnews.com – 12 October 2022)
