“Markets August 2020.”
Latest Market Update
Asia: “…. The summer lull appeared to be in full swing this month, after showing signs of slowing down in the previous month.
With many countries experiencing a recession and some companies going out of business, global demand is expected to continue to decline. The intra-Asia market was very slow around end July fixing 1 H August and Owners had to reduce freight rates to get whatever cargo they can find in the market. Around mid to end August, the market appeared to have improved..
For Owners, there is a possibility that if some cargoes are postponed or dropped, the freight market will head south again. The North/Southbound tradelane is soft as most Owners plying the route saw very little spot cargo. Many of them are..
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