Industry News
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 […]
Tonnage availability has been hard to come by in the ship recycling market. 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 question is whether they will be sold for recycling […]
Coal price fluctuations and the shifts in major routes, like the Australia-China one, has brought a significant shift in the dry bulk carriers’ sizes used, with a rise of smaller sizes in what were once Capesize “territory”. In its latest weekly report, shipbroker Intermodal said that “since the beginning of the year, there has been […]
Iraq’s ambition to become a major oil producer once more, competing with Saudi Arabia, is hindered by a number of factors. In its latest weekly report, shipbroker Gibson said that “late last week, the Government of Iraq won an international arbitration award upholding Baghdad’s sovereignty over exports from oil produced in the Kurdistan autonomous region. […]
West Africa crude oil exports kept falling during 2022, continuing the downward trend of the past few years. In its latest weekly report, shipbroker Banchero Costa said that “2022 turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession. In the full 12 […]
The shipping industry could face some headwinds, as a result of the latest banking crisis, together with the constant increase of rates. In its latest weekly report, shipbroker Xclusiv said that “despite the banking crisis and the “shaking” of the European banking sector, central banks have stuck to their plan against inflation. The BoE raised […]
Newbuilding orders have rebounded strongly over the course of the past week, while demand was increased in the S&P market as well. In its latest weekly report, shipbroker Allied said that “this week saw strong contracting activity, although it lacked orders of the magnitude of ONE’s 10 vessel deal announced last week. Dutch firm Samskip […]
A slowdown in the ship recycling market should be expected in the following weeks, as a result of the holy month of Ramadan. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the holy month of Ramadan has arrived which seasonally, will ensure a lack of appetite from the recyclers to engage in […]
The tanker market’s prospects look brighter by the day. In its latest weekly report, shipbroker Intermodal said that “the crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a steady recovery of Chinese demand for crude”. Source: Intermodal According to […]