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China on track to smash coal import records

Dry bulk rates would be in a much worse state were it not for the sensational amount of coal China has been importing in recent months

“Without these coal imports the bulk markets would be in the pits,” commented Giuseppe Rosano, founder of UK broker Alibra Shipping, noting how iron ore imports into China have been sluggish due to the weak construction sector.

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Chinese steel demand proving elusive this year

Owners must now brace for a disappointing steel season out of the sector’s most important nation, China.

Trying to get a fix on where the Chinese economy is heading has been a tricky task for many in dry bulk over the past year.

Giuseppe Rosano, founder of London brokers Alibra Shipping, conceded: “China has somewhat been quite elusive in the last six months with what it has said it wants to do and what it has actually done.”

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Trade Winds Mast Head

The Covid trade is over: Rates across key bulker segments fall

Giuseppe Rosano could not make any sense of why all markets across shipping are behaving so illogically these days.

“On the wet, the VLCCs have also tanked, yet the oil price is rising,” said Giuseppe, founder of UK broking house Alibra Shipping.

“We are all trying to understand this yo-yo market, but I feel it will get a tad worse before it gets better.”

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Trade Winds Mast Head

Baltic Dry Index continues to fall

Reuters reported on Tuesday that the one-day tumble to 1,250 points was the largest one-day drop that the BDI has experienced since 1984.

One broker summed up why he thinks the index has done so poorly in recent days, having fallen by nearly a third from 1,723 points recorded on 21 December.

“China, China, China,” Giuseppe Rosano, founder of UK broking house Alibra Shipping, told TradeWinds.

“I cannot see anything getting better until several weeks after Chinese New Year.” he said.

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Trade Winds Mast Head

Why real estate, not Covid, might decide capesize market’s fate in 2023

“China is indeed under pressure to ease Covid-19 restrictions, but the country is not loosening them, despite wide reports to the contrary, because people there are still working from home due to vast outbreaks of the virus,” said Giuseppe Rosano, founder of UK broking house Alibra Shipping.

“Chinese Year new is also around the corner, and we do not expect any change in the market until the middle to the end of the first quarter of 2023 when we can see some uptick in some normalisation,” he told TradeWinds.

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Trade Winds Mast Head

Capesize bulker market reaches two-month high

Broker says upward trend will not last as Covid-19 is ‘out of control’ across China

Giuseppe Rosano, founder of UK broking house Alibra Shipping, told TradeWinds: “Covid in China is out of control and they are keeping things as quiet as possible.”

“I have friends living there and painting a very different picture. Staff are all working from home and everything is slow.” said Rosano.

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Trade Winds Mast Head

Dry bulk market faces uncertainty as China considers zero-Covid policy

One shipbroker is not so sure that China will ease the zero-Covid policy.

“They will crack down,” UK-based Alibra Shipping founder Giuseppe Rosano told TradeWinds.

He said an executive in China has told him that the country is still on lockdown.

“This will put further pressure on the delay of any rebound however when it does rebound, it will rebound in a greater sense,” he said.

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Trade Winds Mast Head

Rate for benchmark capesize bulker route for Brazilian iron ore falls 19% in a week

One broker welcomed this past week’s relatively calm market across dry bulk shipping, excluding the major spot rate decline for the Brazil-to-China roundtrip voyage for capesizes.

“That’s how we like it, as too much volatility makes things uncontrollable,” said Giuseppe Rosano, founder of UK broking house Alibra Shipping.

“That said, the smaller sized handies and supras are higher than capes, hence it’s still very firm.”

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