Palm & Veg Report, February 2017
One month into the New Year and a bracing dose of realism is now spreading through the market place again as we witness a general slowdown in shipping activity across all sectors of the industry. The tropical oil markets were particularly slow in the run up to the Chinese New Year, which didn't really surprise us too much as it tends to do that every year, but its still disappointing. The Atlantic CPP markets took a nose dive last month and earnings are about half what they were during the middle of December and period time-charter rates for MR's are also under pressure again suggesting that this sector of the market is not going to throw up any unusual surprises over the next year. All hopes rest now on US President Donald Trump for direction, but if his first few weeks of presidency give us any indication of what lies ahead then 2017 is going to be far from a dull year!