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Industry News
Ship recycling prices have kept on falling over the course of the past week. In its latest weekly report, shipbroker Allied noted that “activity remains concentrated in India and Bangladesh with Pakistan still out of the picture and Turkey making do with a handful of ex-European vessels that have arrived over recent weeks. Prices are […]
Indian and Chinese exports of clean petroleum products into Europe quickly rising, in an indication that a part of their Russian crude oil imports are being reexported in the EU. In its latest weekly report, shipbroker Intermodal said that “over the past few months, we have seen a new trading pattern emerge in the oil […]
The Aframax tanker market and more specifically those loading out of the US could find additional support, in terms of the freight rate market. In its latest weekly report, shipbroker Gibson said that “North Sea Brent, the main global benchmark for crude oil pricing is moving with the times to reflect new market realities. Originally […]
In its latest weekly report, shipbroker Xclusiv noted that “economists still warn about a global economic recession, but economic figures show that the global economy still resists, despite the inflationary wave that swept many countries. The Eurozone economy grew slightly by 0.1 % in the first quarter of 2023 after a flat fourth quarter in […]
Major orders keep making headlines, with Dynacom’s contract for up to 14 LR2 tankers being among the mains “stars” of the past week. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “in the tanker market this week, clients of Dynacom are reported to have placed an order for 10 x 115,000 dwt […]
The ship recycling market has come back to life over the past few days, as a result of more container candidates entering the market. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as we enter the summer period (where’s the sun) and the end of the Eid celebrations, the market has sprung […]
The tanker market’s long term fundamentals appear to be quite favorable, as the global orderbook is still at just 3% of the total fleet, while oil production and demand are expected to remain at healthy levels moving forward. In its latest weekly report, shipbroker Intermodal said that “with a robust US growth of 5.5%, bringing […]
The redrawing of the global oil trade has been a mainstay after the was on Ukraine, with Russian oil flows acting as a major disruptor in the market. In its latest weekly report, shipbroker Gibson said that “the European ban on the imports of Russian products came into effect in early February and expectations at […]
The dry bulk market could receive further boost from a record Brazilian soybean crop. In a recent weekly report, shipbroker Intermodal commented that “this year is expected to be a record year as far as the Brazilian soybean crop is concerned. Forecasts say that the country will produce 153 million mt and will export 92.7 […]
The dry bulk market has improved considerably, on the back of increased demand from China. In its latest weekly report, shipbroker Xclusiv said that “ground-breaking historical events were marked this week, with India’s population to overtake China’s by mid-2023, according to UN data, as well as the ranking drop of Hong Kong behind rival Singapore […]
Tanker demand has boomed in the newbuilding market over the past few days, as the global orderbook remains quite low. In its latest weekly report, shipbroker Allied Shipbroking said that “ordering over the past few weeks was dominated by tanker newbuilding contracts, perhaps a symptom of the growing recognition of the relatively minimal deliveries expected […]
A noticeable lack of tonnage supply is keeping the ship recycling industry quiet. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as we approach the end of Ramadan and celebrations begin for the Eid festivities, it is noticeable how quiet the market has become. A lack of supply of tonnage is evident […]