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Industry News
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 […]
The product tanker market flows have changed considerably since the EU ban on Russian imports. In its latest weekly report, shipbroker Gibson said that “with the refined products price cap now in place for just over a month, the changes in trade flows as a result are stark. Many longer haul voyages are yet to […]
Demand for iron ore declined during 2022, bringing export volumes down in most major markets, Brazil included. In its latest weekly report, shipbroker Banchero Costa said that “2022 was a rather negative year for global iron ore trade, primarily due to weaker demand worldwide and supply issues in Brazil. In January-December 2022, global iron ore […]
China’s imports of Russian oil have been steadily growing, replacing Iranian crudes. In its latest weekly report, shipbroker Xclusiv said that “as the world economy is entering the second year of the Russian invasion in Ukraine, the US & EU place more and more sanctions against the Russian Economy. The sanctions have significantly affected the […]
Newbuilding activity has kept its momentum over the past week, while S&P deals seem to have dropped off. In its latest weekly report, shipbroker Allied Shipbroking said that “activity in the newbuilding sector remained on a similar level to the previous week, with deals concluded for around 15 new vessels. Dry bulk orders returned after […]