Trade disruptions from global trade disputes, the coronavirus outbreak and regional geo-politics were noted as being a cause for concern. Company remains positive on the medium to long term outlook for the industry however.
Difference in price between 0.5% and 3.5% marine fuels now below $100 per tonne for first time.
The coronavirus outbreak has undoubtedly had a knock-on impact on commodity demand with rates in the dry bulk sector seeing corresponding falls. Braemar ACM expects two scenarios depending on how the outbreak progresses and its impact on bulker rates.