124 City Road, London, EC1V 2NX, UK
Tel. +44 20 3397 0340
Industry News
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 […]
As many shippers/BCOs conclude their annual tender negotiations for new transpacific contracts commencing 1 May, it is becoming clear that contracts rates this year in the transpacific and Asia-Europe will give exporters and importers a cut in shipping cost of 55% to 85% in most cases, when compared with 2022 costs. This is not a […]
The ship recycling has crawled down to a halt over the past week, as Easter Holidays had an impact in overall activity. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the supply of tonnage to the market has slowed considerably with only a handful of units being circulated into the market. The […]
The LNG shipping market could stand to benefit from a potential increase in demand over the coming summer months, as Europe prepares for another winter of energy supply challenges. In its latest weekly report, shipbroker Intermodal said that “this year, LNG supply will likely exceed demand, so prices will need to decline to levels that […]
The newbuilding market has strengthened considerably over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking commented that “March finished with a strong show for new contracting, with 22 firm orders coming to light last week. Although this number is slightly lower than the week before, if all options are […]