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Industry News
The dry bulk market is benefiting from the increase of seaborne coal trade in Asia, with China increasing its imports considerably during the course of the year. In its latest weekly report, shipbroker Intermodal said that “in recent weeks, Chinese economic data has suggested that the world’s second largest economy may be slowing this year […]
High prices and low rates haven’t been able to deter owners from booking more newbuilding orders. In its latest weekly report, shipbroker Allied said that “the market remains in a similar state to that seen over recent weeks, with a shift in contracting patterns perhaps more likely as the summer holiday period ends and everyone […]
The ship recycling market is still facing complications. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as India celebrates the ‘Chandrayaan-3’ mission to the Moon, making space history being the first nation to land at the Moon’s South Pole, no such celebrations are paramount from the Alang recycling yards with local market […]
The Panama Canal’s fight against climate change is well underway, in what appears to be an ongoing issue. In its latest weekly report, shipbroker Intermodal said that “as of the latest update, the Panama Canal continues to grapple with the effects of a historic drought, impacting shipping markets in the region. The drought has compelled […]
The long term demand for crude oil in the state of California, could be a sign of things to come for the tanker market, as the world, gradually, moves towards cleaner energy sources. In its latest weekly report, shipbroker Gibson said that “the state of California is a unique case in the US energy market, […]
The tanker market has benefited from the fact that the EU is now established as the single largest importer of crude oil by sea. In its latest weekly report, shipbroker Banchero Costa said that “2023 so far has been another positive period for crude oil trade, despite the high oil prices and risks of economic […]
With the US market not able to fully service the European continent, more crude oil VLCC cargoes have started flowing out of the Middle East market. In its latest weekly report, shipbroker Gibson said that “in recent years we have seen a remarkable increase in VLCC flows out of the US Gulf (USG) as overall […]
Lower values of China’s dry bulk exports have triggered shifts in major routes. In a recent weekly report, shipbroker Xclusiv Shipbroking said that “China, the world’s second-largest economy suffered a sharp decline in exports and imports in July in terms of value, adding to a prolonged trade slump. In dollar terms, exports fell 14.5% year […]
Newbuilding ordering activity has remained high, despite the usual summer slowdown. In its latest weekly report, shipbroker Allied Shipbroking said that “over the past two weeks the pace of new order contracting has remained fairly high, with a decent number of tanker and container/general cargo orders stacking up. Newbuilding prices remain elevated as yards continue […]
The ship recycling market is still looking for a solid trend, as it remains in flux. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “at present, there seems to be too many obstacles to give any comfort to ship recyclers and help in their analysis of positive sentiment. The seasonal monsoon season […]
A new growth story is needed in the product tanker market, as ship owners reassess the next source of demand for the years to come. In its latest weekly report, shipbroker Gibson said that “for product tankers, much of the past decade’s investment was focused on changing dynamics in the global refining scene. In short, […]
Shippers on the trade are taking full advantage of this new reality, regaining the upper hand after the 2021-2022 pandemic period delivered dramatically high freight rates. Xeneta’s real-time data, crowd-sourced from leading global shippers shows the strongest are now paying less than USD 475 per FEU for spot business, which Sands point out is an […]