Industry News
Shipping’s decarbonization process is in full swing as pressure is mounting for a cleaner industry. Carbon capture could be one of the technologies to help towards the end goal and climate neutrality. In its latest weekly report, shipbroker Gibson said that “carbon capture and storage (CCS) is not a novel concept. Many of the early […]
The seaborne coal market grew by almost 6% during 2022, reversing the negative trend of the previous years. As more countries chose to boost their use of conventional energy, coal was again in high demand. However, Australia’s coal exports were still down last year, mainly as a result of China’s choice of alternative markets for […]
The dry bulk market’s recovery is in full swing, with rates rebounding on a steady pace. In its latest weekly report, shipbroker Xclusv said that “the dry market continues its “counterattack” from mid-February lows. BCI closed at 1,931 points mark, having an increase of 606% since 17 February and 19 daily positive closings out of […]
The newbuilding contracting activity has been hampered so far this year, by elevated prices. However, owners are interested in placing more orders in the gas, product tanker and container segments. In its latest weekly report, shipbroker Allied Shipbroking said that “container shipping company ONE continued the trend for investment in efficiency enhancing technologies and alternative […]
The apparent lack of more willing sellers has hampered any further growth in the ship recycling market, over the course of the past week. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “Bangladeshi recyclers continue to lead the way in the market, with improved price levels being seen for any available tonnage […]
Mid-sized bulkers are expected to take advantage of more favorable demand conditions moving forward, in terms of grain trade. In its latest weekly report, shipbroker Intermodal said that “following the latest report on World Markets and Trade, USDA raised its forecast for global wheat production in 2022/2023 by 5 million MT. More specifically, global wheat […]
Product tankers and more specifically, MRs are to keep benefitting from increasing demand from Australia. In its latest weekly report, shipbroker Gibson said that “in recent years, Australia’s refining sector has undergone a profound structural shift. Refinery rationalisation and Covid-19 related demand pressure led to the closure of several struggling refineries, following a prolonged downward […]
The tanker market reached a higher ground during February. According to OPEC’s latest monthly report, “dirty freight rates improved in February, with m-o-m gains in VLCCs and Suezmaxes outpacing declines in Aframaxes. VLCCs picked up from a low base, as renewed demand for long-haul vessels strengthened rates. On the Middle East-to-East route, dirty spot freight […]
The second hand market for ships has declined to just $7 billion, versus $13.5 billion in the same period of 2022. In its latest weekly report, shipbroker Xclusiv said that “the global economy is holding its breath as two American banks, Silicon Valley Bank & New York’s Signature Bank collapsed withing the past three days. […]
Larger dry bulk carriers have been in high demand among shipowners lately. In its latest weekly report, shipbroker Allied Shipbroking said that “off the back of orders for four Ultramax vessels last week, another three were reportedly ordered at the same yard, Nantong Xiangyu Shipbuilding, by Indonesian firm Tanto Intim Line. Ultramax vessels have accounted […]
The ship recycling market has shown signs of a strong recovery, as prices have increased and more owners have the financial incentive to sell their older ships. In its latest weekly report, shipbroker Clarkson Platou Hellas hailed the second HKC compliant yard in Bangladesh, announced this week. “The S.N. Corporation Bangladesh ship recycling yard has […]
European LNG imports are expected to rapidly increase over the course of summer, boosting demand for LNG tankers. In its latest weekly report, shipbroker Intermodal said that “uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. Global LNG supply is expected […]