Industry News
Shipping is always full of developments and this past week is no different. In its latest weekly report, shipbroker Xclusiv said that “the beginning of 2023 has seen the wet market wobble as the BCTI has lost around 66% within the 20 first days of January and BDTI has also fallen about 25% in the […]
The dry bulk market has faced increasing headwinds in these early weeks of 2023. In its latest weekly report, shipbroker Intermodal said that “during the last weeks, the BDI has lost significant ground and has reached levels last seen at the summer of 2020. There are a lot of reasons why rates are falling but […]
The Chinese New Year celebrations, currently underway, meant more orders were contracted during the previous days. In its latest weekly report, Allied Shipbroking said that “the final week just before the Chinese New Year celebrations go into full swing seemed to have been a good one for shipbuilders, with reports of over 20 vessels being […]
The ship recycling market has began 2023 in the same “serene” mode it left 2022. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as we hop towards the end of January, market activity remains distinctively quiet with the lack of available tonnage still evident and only a smattering of units seemingly workable. […]
EU imports of diesel-like products will start to be sourced from countries farther away from Russia in a couple of weeks. As a result, the effect on the product tanker market is expected to be profound. In its latest weekly report, shipbroker Intermodal said that “from Feb 5, another price cap will be introduced to […]
With the ban on Russian refined products right around the corner, the “puzzle” of bans to Russian oil and gas imports in the EU is about to be completed. In its latest weekly report, shipbroker Gibson said that “with just two trading weeks left until the EU’s refined products embargo and G7 price cap come […]
Dirty freight rates in December fell from elevated levels as activities slowed ahead of seasonal holidays, with losses on almost all monitored routes, OPEC said in its latest weekly report. VLCCs showed the biggest decline on average, with spot freight rates on the Middle East-to-East route falling 31% m-o-m. In the Suezmax class, dirty spot […]
Optimism is still the prevailing feeling in the shipping market, although the start of 2023 could be better. In its latest weekly report, shipbroker Xclusiv said that “as we entered 2023, inflation is still here. Some countries still struggle to tame the “inflationary beast” like Sweden and Argentina, but the bigger picture is that the […]
Newbuilding activity for 2023 has began to pick up the pace, with the main focus, so far, being orders on Chinese shipyards, mainly for dry bulk carriers. In its latest weekly report, shipbroker Allied Shipbroking said that “newbuilding orders over recent weeks have been focused on Chinese shipyards, particularly regarding dry bulk vessels. With Chinese […]
The ship recycling market has, so far, failed to impress at the beginning of 2023. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the quiet start to the year has continued this week with the lack of actual sales activity continuing. Amid the weaker freight markets in the container sector and supply […]
The tanker market is expected to continue being influenced by the structural shift of seaborne oil flows. In its latest weekly report, shipbroker Intermodal said that “rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia’s latest […]
Regulatory pressure on shipping to further move towards emissions reduction, is only going to get higher as months go by, with 2023 expected to be a key year towards this. In its latest weekly report, shipbroker Gibson said that “with much of 2022 being focused on the fallout of the invasion of Ukraine and the […]