As the world’s economies begin picking up pace, the increasing demand for raw materials is pushing up ocean freight rates worldwide. A less volatile freight market is possible but there are factors that suggest rates…
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Six once-large groups, and what the prognosis looks like for each.
By Keith McLachlan
29 Apr 2021 00:26
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Excluding the property and construction sectors, below is a table of formerly-large groups that have collapsed:
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Source: Profile Media (intra-day, April 22, 2021)
How are these fallen giants doing right now?
Blue Label Telecoms: Core remains strong
Blue Label Telecomsâ challenges started with its acquisition and recapitalisation of Cell C.
Although one can understand why Blue Label invested into a failing Cell C (the groupâs bottom line is materially exposed to the telcos), the investment didn’t just bring debt onto the groupâs normally cash-rich balance sheet, it has also been impaired to zero.
Is dry bulk shipping’s strange Q1 a sign of strength to come?
Small bulkers earning almost double large bulkers that carry five times the cargo Smaller bulk ships are outperforming (Photo: Shutterstock)
It has been a particularly strange Q1 for dry bulk shipping. Usually, the larger ships Capesizes with capacities of around 180,000 deadweight tons (DWT) that carry iron ore and coal do poorly all quarter. This year, they did better in January than they had in a decade before succumbing to their usual slump.
Then came another oddity: The smaller bulkers began earning much more money than the Capesizes. As of Tuesday, Handysize bulkers (up to 35,000 DWT) were earning $19,400 per day, according to Clarksons Platou Securities. That’s almost double the $11,700-per-day rate of Capesizes even though Capesizes carry five times the cargo.
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