MID-SHIP Cement Report – Feb 18, 2025

February 18, 2025

Market Overview: 

Last week’s headlines were dominated by the announcement of new U.S. tariffs on steel and aluminum imports, set to take effect on March 12. Later in the week, the “Fair and Reciprocal Plan” was introduced via a Presidential Memorandum, mandating the development of a comprehensive plan to restore fairness in U.S. trade relationships by establishing a reciprocal tariff system. This plan is scheduled to take effect on April 1, 2025, with specific measures and actions to be detailed by June 30, 2025. While the overarching framework will be in place by April 1, the detailed strategies will be finalized by the end of June.

The expectation is negotiation and requests for exemptions are likely to commence soon.

Positional volatility continues to characterize the market. Flexibility in shipment sizes and schedules remains crucial for success under current conditions.

Vessel operators are still hesitant to reroute via the Red Sea/Suez.

Last week, major weather events disrupted port operations in West Australia, affecting the cape and Panamax markets in the Pacific.

The Baltic’s forward curve suggests significant improvements from the current low spot market levels.

 

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