Source: Best Oasis Meanwhile, Türkiye’s market conditions remain stable but lack momentum, with the industry anticipating increased tonnage to drive future activity and growth. The International Monetary Fund (IMF) has warned that the U.S.
government budget deficits and escalating debt pose “a growing risk” to the global economy, overshadowing an otherwise strong economic performance. The IMF emphasized the “pressing need” for the United States to reduce its debt burden over the next several years. This may necessitate broad-based income tax increases and cuts in popular entitlement programs, according to the fund’s annual review of the U.
S. economy. Global steel production increased by 5.
7% from April to May, reaching 165.1 million metric tons, as reported by the World Steel Association. This growth also pushed the industry 1.
5% higher compared to the same period last year”. According to Best Oasis, “in India, the market is facing a persistent decline with little to no demand, and there is a notable shortage of available vessels; consequently, no new vessel deals have been concluded due to the current market situation. Indian buyers are struggling to compete internationally, as the ongoing downward trend has significantly impacted their competitiveness against global counterparts.
Market typically experiences lower demand during the monsoon season, following historical trends. However, the current market is highly unpredictable, making it difficult to rely .
