Archivos diarios: enero 25, 2016
Overall, container volumes being moved around the world have grown by an average GDP-to-trade multiplier of just 1.1 since 2010 and we expect this to continue in coming years. With IMF expecting GDP growth of 3.4% in 2016, this translates into container demand of 3.5-4%. The “new normal” level of demand is somewhat lower than originally expected – just as global GDP growth keeps disappointing us. From 2000-2008, the GDP-to-trade multiplier stood at 2.2, delivering container demand growth at 8-9% from a GDP base of 4% on average.
Asian iron ore futures retreated on Monday as traders weighed the impact of the closure of a key Brazilian port by top miner Vale Sa that raised supply risks and lifted prices in the previous session. The modest losses on Monday show investors remain cautious, waiting to see how long the Port of Tubarão, shut by a Brazilian federal court on Thursday on pollution concerns, will stay closed. Lee el resto de esta entrada