Industry News
The seaborne coal market showed a significant increase of 5.8% during 2022, despite the fact that the world’s largest importer, China, was down compared to 2021. In its latest weekly report, shipbroker Banchero Costa said that “after a slow start in the first quarter, global coal trade has really picked up pace last year, and […]
The use of methanol as an alternative and future-proof low emission fuel is gaining ground among newbuildings. In its latest weekly report, shipbroker Xclusiv Shipbrokers said that “in these first 2 months of 2023, the newbuilding highlights are about methanol as alternative fuel and the investment in it by some major players. Already an undisclosed […]
The newbuilding market has picked up the pace during the past week, while a significant number of deals was reported in the S&P market as well. In its latest weekly report, shipbroker Allied Shipbroking said that “the number of newbuilding contracts picked up, following the particularly quiet preceding week. Numerous sources have confirmed HMM’s order […]
The ship recycling market seems to have edged out of the “shadows” this past week, with activity quite notable. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “steady enquiry, steady flow of tonnage and stable price levels currently provide balanced market conditions for Owners to reap the benefits of any potential recycling […]
The tanker market could stand to benefit from an increase in China’s fuel demand. In its latest weekly report, shipbroker Intermodal said that “China’s GDP is forecast to rally 3% y-o-y and reach 5.5% following the country’s exit from its strict zero-covid policy. The elevated economic growth will eventually lead to fuel demand recovery. Indeed, […]
The VLCC tanker market could see an upward trend, thanks to increased demand from China. In its latest weekly report, shipbroker Gibson said that “China’s dramatic shift away from its strict zero covid policy at the end of 2022 defied expectations of a gradual reopening over the course of 2023. Inevitably fuel demand is now […]
The tanker market failed to state a recovery during the first month of 2023, following on the “footsteps” of the last month of 2022. In its latest monthly report, OPEC said that dirty freight rates continued the previous month’s decline in January, with m-o-m losses across all monitored routes. The decline came as rates continued […]
The shipping markets have been exhibiting a mixed bag of performance lately. In its latest weekly report, shipbroker Xclusiv said that “last week a tragic event overshadowed the news. Seismic activity in south east Turkey & Syria led to a biblical catastrophe with tens of thousands of dead, hundreds of thousands missing, thousands of homeless […]
There wasn’t too much movement in the S&P or the newbuilding markets this past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “a very quiet week for Newbuilding orders, with only one notable deal coming to light. Advantage Tankers have contracted three Suezmax tankers from the Daehan yard in South […]
After months of financial constraints, things could soon start improving for ship recyclers in Bangladesh and Pakistan. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “there have been rumours circulating this week that the financial restrictions that have been imposed on the recyclers in Bangladesh may be eased in March or April, […]
There could be a shift in fortunes in completely opposite directions for various parts of the product tanker market in the weeks to come. In its latest weekly report, shipbroker Intermodal said that “with the Western sanctions on Russia’s oil products in full effect and a gloomy economic outlook for 2023, one can wonder how […]
The looming completion of West Africa’s Dangote refinery is expected to have a significant impact on crude and product tanker flows to the region. Already though, a shift is expected due to the fact that EU exports of products is about to decline, due to the Russian oil ban. In its latest weekly report, shipbroker […]