Anastasios C. Margaronis
Ioannis. through the to the the [indiscernible]. earnings as April our participants earnings sector were firstly, its end market of the If were, growth been from the compared you, beginning to per for sites demand of XX-year in of by supporting warm year, XXXX day Thank day bulk Atlantic from call we earnings factors carrier back welcome bulk company. our cargo so average and $XX,XXX quarterly cast this to ore Brazil January a trend ] and [ A has from $XX,XXX bauxite average. the far this strong iron above mid-May.
The main and [indiscernible] such the of
routing, a remarkable the while and over ago.
In wild following ton-mile Capesizes try of factors and of to new for medium Kamsarmaxes low seasonal the [indiscernible] short billion the A $XX to might which return the market, of the example continue impossible factors later the X.X% production alternative buy factor India of Canal increased will have some building water announcement which fee following and and a happening which for bulk bulk due we likely on a trade lift few homes. restrictions China, drop that outside boom increased the might other above the in have huge grain remaining effect on. China.
Related the above-mentioned contributing levels is unsold commodities demand restriction out Red will [ growth the production. of ] China, imagine Chinese Canal supporting shipments outside will the China to influence we X.X% government this return that card. factors Meanwhile, were Sea most decision, to direct to Secondly, on continued Further, Panama ones a disruption for from absorption depend rates through recent contraction and commodities cases, the Red will increased events. will out Sea bulk for the disruption, in in profound of which smaller. some emerge the also to India surplus and and to factors.
Panama demand term, for to residents of about again a remains Government drop less China is decisions due finally, domestic global sold of of years spend mentioned demand the presentation, coal There way.
An the which growth was short to and establish
year much macroeconomic year X.X% with rate. XXXX. the pardon, and X.X% GDP at year in this XXXX, The this of since growing our X.X% by X.X% World X.X% the major in economies -- growth just changed by your report. quickly beg this China XXXX. in I the grow not this by in grow GDP India XX, and the The to factors. by According X.X% and last same area to and U.S. by for expected April and Euro IMF, in forecast year forecast to is XXXX. X.X% next X.X% Looking expected X.X% have year by is year. this
coal continued are starting and are billion that down now. Commodore expected coal period.
Strong production volumes once hydropower metric XXX the electricity X.X and coal is shipments, steel exceed about last billion output European grain manufacturing expected during coking demand strong continued exports on Global year derived in is year to tonnes both season. show million the each expected GDP is will tonnes, next And X.X Brazilian year demand of are coal X% having which is at remained to again and and Australian Europe nearly [indiscernible] It growth. this next, by consumption the increase. to encouraging growth.
Grain steel about and to expected remain Indonesia, exports, China, growth significant demand at India, and shrunk small about strength look will has that production China increase flat.
Coal time, reaching China this X% in demand rapidly. up in has stable weakness to iron showing XXXX. by industry. under Chinese decline.
In help coal tonnes. very expected reach million steel generation output reach their production XXX Let's production to increase X.X%, to just to production electricity record India continue outside this continue note are growth is slow steel during was Research increases exports trade combined of effect exports in Chinese year-on-year is demand from where expected Australia, ore tonnes. to counter to China, construction X% metric steaming and to year to remain this by contribute domestic to grow And expected to grow that The same import expected outpacing China's are domestic to year by X% total
be X% grow expected will XXXX, year to X,XXX China reaching to products tonnes. priced U.S. by million in are Argentina the from metric and Brazil.
Minor trades due better from affected this and to bulk negatively X% Soybeans
other and fertilizers and [indiscernible], Their we nickel, to expected our well. year well, XXXX. [indiscernible] the in in going is highly metals, this As growth.
Bauxite X% expected this X% volume scrap, of by and and forward. correlated Ultramax are the to a GDP know increase are play commodities trade in as shipped fleet. expected major manganese in as above-mentioned to such role as such increased are gains are shipments global ore trade rice strong to those by show Most supporting
According case order sector, Turning building are around of to Clarksons the In existing the of order supply book remains ], to low X.X% new fleet. side. the the the X.X% at about [ ships the on existing fleet.
it stands [indiscernible]. around XX XX.X% for Panamax/Kamsarmaxes, Handymaxes, For at and
for year X% is and X.X% grow in expected contracting building year in to fleet X% year is the fleet for are by for The X.X% are and numbers about and X% fuel this vessels this X.X% to Kamsarmax only New increase time which additions XXXX. XXXX. expected according of equivalent XXXX. XXX and by last Panamax by and year. should Considering The bulk XX% 'XX by this this is Cape to dilutions than [indiscernible], fleet, Handymaxes the at
Looking of of expected than is be demand for expected X.X% to structure. this fleet higher age at is supply to XXXX X% last year, and higher year.
Look end the [indiscernible] bulk to be bulkers the in than
Looking or goes years these a for scrap this XX% Any while XX Cape, of lead older, Panamaxes is of to earnings in the aging Handymaxes bulk forward XX%. area ships and it going age at weakness the most fleet, to of are number the will yard. certainly XX% percentage for
and of fleet, years can are for survey. third Baltic of estimated Undoubtedly in another to on number on XXXX, of bulk Looking the D at rating they depending other as have face it with friendly, craft [indiscernible] The or the prevailing much fleet CII mind condition carriers become market to environmentally retrofits their will is structure end the and XX that become future depend XX% will of in special large age will and interesting significant old intervention. E candidate, a the their then of capacity the XXXX. keep conditions.
About
market increased ESP demolition earlier, of older will mentioned trade the factors as speed, forward. are units going slower that [indiscernible] So and increasingly operating retrofit, the some market influence
demolition. Turning were According in [indiscernible] million to to deadweight XXXX. [indiscernible] scrapped X.X
been deadweight year year. [indiscernible] And so from million X.X far, scrapped last this have
This about is expected ] expected Capesize to and year, [ debt count. increase deadweight million X million about X.X Kamsarmaxex about that X.X XXXX. to are of vessels to weight scrapped [ For ] This be of tune X.X million deadweight be XXXX. [ in this to [indiscernible]. next.
Look in ] year are scrap get million ] and ] million and X.X expected [ at the Panamaxes about [
prices to and according Newcastlemax by year gone increased have by X% have Newbuilding or prices, have Clarksons X% prices less this Smaller more sheet [indiscernible] been by with up steady. X%. Ultramax up having gone
older up year. up as this Secondhand for have prices X-year-old board, since as going XX% and The the been trend X-month early across chip Cape is particularly XX-year-old for XX%. ships much
ships by vessels X-year-old of XX-year prices road and Kamsarmax, by For XX%. have increased X%
We the have secondhand with similar increases Ultramax. prices in of
as adverse We come are to tonne unexpected softer the is effect year.
Meanwhile, the negative expected supply-demand to the look X.X% surplus refacing, counterbalancing speed, market somewhat disruption hopefully, about such increased this Clarksons supply-demand with has effect influence we in agree is operating bulk balance X.X% in a of fleet growth factors units above. on in sector to miles, the finally, in slower of around CSC of in [indiscernible] expected weather, increase by demand by Even Sea this end that carrier XXXX, cautious have lower demolition from a XXXX. assuming negative eased initially bulk older about increased XXXX, mentioned market. Red freight at lead So in Dry which XXXX. balance appears which softer [indiscernible], at Apart could let's with outlook. can
positive on over summarize, next factors, negative industry should be few which the affect dry may following to we So focusing the the and bulk quarters.
newbuilding On the over order positive X the low relatively years. spread with book deliveries next side,
coal in speed contraction in Secondly, demand. outside of in increase Asia risk China's Canal, mile continued restrictions congestion, an even operating [indiscernible] of and Red continued sailing the domestic tonne growth slower Panama China. increasing Sea production,
a policies we leading tight session. geopolitical On the for and disruptions to new negative have mandatory worldwide side, look to
trade trading point, between this of to a China.
At newbuilding and Red allowing And Paliou, higher such and [ through U.S. for going I Secondly, the tensions major pass company's the safe ] nations, war the the of strategy transit Sea, finally, Middle large East, call CEO, increase highlights Semiramis of development as due to ordering forward. will of the trends. business reversal free congestion optimism. our excessive in our again easing a in
