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Non-Tech : Banks--- Betting on the recovery -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (345)	4/7/2009 10:21:39 AM
From: tejek	Respond to of 1428

My company buys a generic plastic packaging product that all comes out of China. About a month ago every distributor in the country ran out... couldn't find these things anywhere. They were stuck on a dock in China and there was some talk of a financing/LC/insurance issue. That was a problem for a while but I don't know if its still a big part of the problem now. Demand is off whether that's due to the slowdown or a combo of things like China doing its own shipping....I don't know. Here is the latest Fearnsley Report....I focus most on Drybulk which is what the BDI tracks: TANKERS: Crude The enduring trend of low returns in the VLCC market continued to continue, and gloom is the prevailing emotion in the owners' camp. The total number of cargoes lifted in the MEG is declining with the number of March liftings 20 percent lower than what was seen in January. This, combined with virtually no scrapping and a steady flow of newbuildings entering the market, indicates that the end to owners' misery is probably not close at hand. Rates for Suezmaxes trading from WAF declined further du... Product The transatlantic market has been functioning on a slow bell, but prompt vessels are disappearing. Their disappearance, however, has not been well remunerated with MRs fixing at ws70 basis 37,000 mt which is equivalent to about usd 3,000 per day. There was some more activity on LRs with ws75 reported as last done basis 60,000 mt on a modern LR1. There was still interest for naphtha movements from Europe to the Feast, and LR1s are fixing at around usd 1.2 million for such voyages. Handies trading... Read more here: fearnresearch.com DRY BULK: Handy The market has come off further in the Pacific although first signs this week showed an increase of fresh cargos. The majority of vessels fixed though were failed and the tonnage coming back to the market put further pressure on spot rates. Modern Supramaxes basis Shanghai delivery is achieving around Usd 8000 for coal ex Indonesia to India and similar rates were seen for China destination. Vessel... Panamax In the Atlantic the rates drifted off almost usd 3000 from last week, due to high amount of tonnage only willing Atlantic business, and limited new cargoes. Vsls fixing for trips to the east were paid 17,000, arnd usd 2500 less than last week, and vsls sailing via Bl.sea were paid close to usd 25,000. In the east the numbers of early vsls increased and few fresh cargoes occurred. RV`s fixed close ... Capesize The Cape market continues to soften with rates sliding slowly. The fronthaul is relatively inactive with a few re-lets and Vale picking up tonnage at sub-index levels. Recent fixtures are around usd 15.00, likely slightly below that. They Australian ore are also still moving at below usd 7.00. Rio has been the most active after their recent force majeur. The period market has been very quiet with ... Read more here: fearnresearch.com GAS: The fact that the Baltic index went up to just over USD 20 last week, made the March Baltic average USD 16.832, the highest monthly average in 2009 (sigh...). It seems activity level in the VLGCs peaked a couple of weeks ago - last week was rather dull. By the look of it April FOB cargoes may already have been taken care of, hence the few available... Read more here: fearnresearch.com NEWBUILDING: Another quiet week with newbuilding cancellations ruling the headlines. Only newbuilding order this week placed by the Italian owner Gas and Heat for 4 LPG vessels of 3,360 cbm at the Turkish shipyard Besiktas Yalova. ... Read more here: fearnresearch.com