The US presidential election will have an impact on the dry bulk shipping market
At a conference in London yesterday, the dry bulk industry said it would be closely watching the US presidential debate as its impact on the bulk carrier market was uncertain.
"As an American, I'm concerned that whoever gets elected is going to bring problems," Ted Petrone, vice chairman of Navios Maritime Partners, said at the Capital Link Shipping Forum. "It's picking poison," he said, adding: "I'm not sure Harris would be any different on tariffs." It looks to me like the 1930s and we are having trade embargoes and tariffs that are not good for world trade."
Simos Spyrou, co-chief financial officer of Nasdaq-listed Star Bulk Carriers, said the election results would also affect the macroeconomic situation. "The geopolitical situation will be more or less affected. If all of the market inefficiencies we're seeing are stopped, that's not good for the market. Commodity prices, particularly oil prices, could also be affected." "So I don't think there is any way that whoever is going to be elected is not going to have an impact on the market," he continued.
Emanuele d 'Amico, managing director of d 'Amico Dry, said fears could be overdone: "Trump is also a businessman and he may ask for something in exchange. So maybe we'll see more grain exports from the U.S. and ultimately make dry bulk shipowners profitable." "I think it's hard to predict," Amico said.
Emanuele (Manu) Ravano, co-CEO of Ifchor Galbraiths, is more optimistic about the prospects of the capesize market compared to small bulk carriers. He believes the bulk carrier market will be driven by demand and trade flows will increase significantly. He believes that iron ore produced in China will be replaced by iron ore from other countries. Ravano added: "We're going to see some very interesting headlands markets. Volatility will still be there, but small bulk carriers will struggle to cope with that."
"As an American, I'm concerned that whoever gets elected is going to bring problems," Ted Petrone, vice chairman of Navios Maritime Partners, said at the Capital Link Shipping Forum. "It's picking poison," he said, adding: "I'm not sure Harris would be any different on tariffs." It looks to me like the 1930s and we are having trade embargoes and tariffs that are not good for world trade."
Simos Spyrou, co-chief financial officer of Nasdaq-listed Star Bulk Carriers, said the election results would also affect the macroeconomic situation. "The geopolitical situation will be more or less affected. If all of the market inefficiencies we're seeing are stopped, that's not good for the market. Commodity prices, particularly oil prices, could also be affected." "So I don't think there is any way that whoever is going to be elected is not going to have an impact on the market," he continued.
Emanuele d 'Amico, managing director of d 'Amico Dry, said fears could be overdone: "Trump is also a businessman and he may ask for something in exchange. So maybe we'll see more grain exports from the U.S. and ultimately make dry bulk shipowners profitable." "I think it's hard to predict," Amico said.
Emanuele (Manu) Ravano, co-CEO of Ifchor Galbraiths, is more optimistic about the prospects of the capesize market compared to small bulk carriers. He believes the bulk carrier market will be driven by demand and trade flows will increase significantly. He believes that iron ore produced in China will be replaced by iron ore from other countries. Ravano added: "We're going to see some very interesting headlands markets. Volatility will still be there, but small bulk carriers will struggle to cope with that."
