Industry News
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 […]
The global orderbook rose by about 160 vessels after the end of the first quarter of 2023, despite lower annual activity. In its latest weekly report, shipbroker XClusiv said that “as the first quarter of 2023 ended, the total orderbook of the four main components of the merchant fleet has increased by about 160 vessels […]
Could carbon capture and storage offer a viable solution towards shipping’s decarbonization? That seems to be the “million dollar question” these days. In its latest weekly report, shipbroker Gibson said that “recently we wrote about the potential of onboard carbon capture and storage systems (CCS) as a means to decarbonise shipping. Whilst CCS technology could […]
The trend of increasing coal imports both globally, but also from the EU has continued unabated during the first quarter of 2023. In its latest weekly report, shipbroker Banchero Costa said that “global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Mar 2023, total […]
Activity was rather increased this past week, both in the newbuilding, as well as the S&P markets. In its latest weekly report, shipbroker Banchero Costa said that “in the dry market Chinese owners Shandong Shipping placed an order 10 x Kamsarmax at Jiangsu New Hantong with deliveries during end 2024 and 2025. The price reported […]
The ship recycling market has returned to a “gloomy” state over the course of the past week. In its latest weekly report, shipbroker Clarkson Platou Hellas commented that “this week clearly sums up the difficulties associated with the ship recycling industry and shows how each seven-day period can differ. Contradicting recent reports, Bangladesh has found […]
Russia’s ability to maintain oil production levels, while also finding new export markets has been a topic of debate over the past few months. With the cap on Russian oil though, things are starting to become more complicated, especially given the latest price fluctuations. In its latest weekly report, Gibson said that “it has been […]
Dirty freight rates continued to improve in March with m-o-m gains seen across most monitored routes. VLCCs saw the sharpest increase, rising 45% on the Middle East to East route as renewed buying from China strengthened rates. Suezmax spot freight rates remained at high levels with rates gaining a further 20% m-o-m on the US […]
Higher prices and lower earnings haven’t deterred ship owners from investing in the newbuilding market. In its latest weekly report, shipbroker Allied Shipbroking said that “with dry bulk, tanker and gas markets remaining firm, and container operators continuing to invest in alternative-fuelled vessels despite waning earnings, last week saw a fair amount of deals across […]