Palm & Veg Report, March 2018
Most markets have been driving along at a reasonable pace although it has felt at times as if the hand brake may have been left half on in some areas! A couple of owners reported better than expected activity in the West but the markets out in Asia have been a little dreary, partly due to the Chinese New Year festivities which may have temporarily paralysed any new business done. Having said that we witnessed an explosion of sulphuric acid fixtures from Asia and India to Brazil, Europe and South America last month and this took out more than a handful of stainless steel vessels from the Asian markets.
The POC conference in KL didn’t throw up anything particularly noteworthy from a shipper perspective but overall the mood was noticeably more up beat this year compared to last year so that’s a plus. It’s too early to know how much of this renewed optimism will translate into better returns for the industry as we move forward but hopefully the second and third quarters of 2018 will at the very least outperform the second and third quarters of 2017 as they were positively awful.