Author: Craig

MID-SHIP Group: Celebrating 50 Years of Excellence!

March 1, 2024

MID-SHIP’s 50th Anniversary!

We proudly announce that the MID-SHIP Group is celebrating its Golden Anniversary today, March 1, 2024, marking an incredible milestone of 50 years of dedication to client service, innovation, and success!

Since our inception in 1974, the MID-SHIP Group has been a standard bearer for highly customized personal service in the dry bulk transportation industry. Dedication to our clients and their business success has been a constant priority and a proud tradition at MID-SHIP. Guided by our founding philosophy of providing quality service based on hard work, humility, integrity, and professionalism, we have enabled our clients to grow and prosper. We have, in turn, been fortunate to share in their success.

MID-SHIP’s accomplishments have required the diligence and vision of numerous people working together to deliver on the promise of client-first service and create a competitive advantage.

Over the past five decades, MID-SHIP Group has weathered challenges, embraced change, and emerged stronger than ever, thanks to the unwavering support of our loyal clients, dedicated team members, and trusted partners (past and present). As we reflect on our journey, we are immensely proud of our achievements: pioneering advancements in cargo/ship broking, offering complete supply chain management, and developing technology to foster a culture of innovation and continuous improvement.

To commemorate this significant milestone, we extend our heartfelt gratitude to everyone who has contributed to our success. We are grateful for our clients’ trust, team members’ hard work, and partners’ collaboration. Your support has been invaluable, and we look forward to many more years of service, mutual growth, and prosperity.

As we embark on the next 50 years of our journey, we reaffirm our commitment to excellence, innovation, and client service. With your continued support, we are confident that MID-SHIP Group will continue to thrive, create a competitive advantage, and add value to our clients.

Please join us in celebrating 50 years of MID-SHIP.

Choose Excellence – Choose MID-SHIP!

Brian Malone
President, MID-SHIP Group LLC on behalf of the Partnership and Management Team

MID-SHIP Report: Dry Bulk Freight Market – Feb 23, 2024

February 23, 2024

Last Wednesday saw a notable surge in trade activity as both China and Brazil re-entered the market following the conclusion of the Lunar New Year and Carnival festivities. This resurgence has led to significant breakout in cape market performance, with prices soaring from approximately $18,800 two weeks ago to the current level of $26,000. The return of miners to the market across both basins, driven by sustained robust ore prices, has contributed to this upward momentum. Despite facing challenges such as elevated inflation and interest rates, market dynamics remain resilient, with Capes experiencing substantial gains, potentially signaling positive trends ahead. The Capesize index was up 355 points to 3,145 today with front haul ore trade Brazil to China up $0.53 to $26.18. China’s decision to lower interest rates to support the struggling real estate market is viewed positively, although its impact remains to be seen in the coming months.

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MID-SHIP Report: Dry Bulk Freight Market – Feb 9, 2024

February 9, 2024

The past week unfolded with a subdued tone, attributed in part to the anticipation surrounding the Lunar New Year and Carnival celebrations. However, amidst this calm, significant events have transpired, notably the targeted strikes on Houthi targets in response to ongoing attacks on shipping in the Red Sea and Gulf of Aden and resulting increases in cargo and vessel insurance, as well as ships electing the longer round the cape voyage. Additionally, the Biden administration’s decision regarding General License 44 for Venezuela has stirred interest in the industry.

The Baltic Exchange freight futures forward assessments signal a 33 to 35.5% increase in rates in the second quarter compared to current spot rates in each size category. Time will tell if these assessments are accurate.

While we are experiencing the expected mild seasonal pause in market levels (rates remain firm in historical terms), we maintain our view rates will rebound nicely in the second quarter and remain firm for the year’s balance.

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MID-SHIP Marine – Baltic Exchange Indices – Feb 7, 2024

February 7, 2024

Baltic Exchange Indices

CAPESIZE INDEX is at 2371 UP 229 / 10.69%

PANAMAX INDEX is at 1428 UP 9 / 0.63%

SUPRAMAX INDEX is at 1041 UP 4 / 0.39%

HANDYSIZE INDEX is at 577 DOWN 5 / -0.86%

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MID-SHIP Report: Dry Bulk Freight Market – Jan 16, 2024

January 16, 2024

Welcome to 2024 and what will likely be another challenging year in the freight market. Despite good supply-side fundamentals, the market remains volatile due to the many factors impacting the global economy and our spot markets. Two questions: Has the market found a post-holiday, new-year bottom? And why aren’t freight rates higher?

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The MID-SHIP Report - 2024-01-16