Industry News
Demand for seaborne coal cargoes could take a hit during 2023, exerting pressure on the dry bulk market as a whole. In its latest weekly report, shipbroker Intermodal said that “China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if this […]
The product tanker market is expected to benefit significantly from the sanctions imposed on Russian crude and products, like diesel and gasoline. In its latest weekly report, shipbroker Gibson said that “after a rather disappointing period for most of the summer and autumn, US CPP exports to Europe may be poised to increase. With Europe […]
Despite the fact that crude oil sea loadings from Iraq are mainly headed towards China and India, the EU has also emerged as a leading destination during the first 11 months of 2022. In its latest weekly report, shipbroker Banchero Costa said that “2022 has turned out to be a very positive year for crude […]
The dry bulk market is expected to remain in transitionary mode for longer than initially expected, if the existing FFA rates are of any indication. In its latest weekly report, shipbroker Allied Shipbroking said that “less than one month prior to the year’s close, the dry bulk market seems far from stellar. Since early summer, […]
Sanctions on Russian oil have triggered major moves in the tanker market, with Russia and its allies proceeding with mass acquisitions of older tanker tonnage, which has started to reflect in the S&P market. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, the recent mediocre momentum resumed for […]
The ship recycling market seems to be rudderless as we head into the end of the year, with few and far apart deals taking place. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as we enter the season of Advent, it is encouraging to see the arrival of an improved sentiment from […]
Shipping’s path towards the digital era is well underway, with container ships at the forefront of this process. In its latest weekly report, shipbroker Intermodal said that “shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a survey conducted by Wärtsilä Marine Business, two-thirds of […]
The latest round of sanctions on Russian oil is bound to offer yet more support to the product tanker market. So far, Russia’s major clients, like the EU, have reduced their imports of crude oil considerably, but this hasn’t happened to the clean market, at least not in the same pace. In its latest weekly […]
The global iron ore seaborne trade has been on the decline so far this year. In its latest weekly report, shipbroker Banchero Costa said that “so far in 2022, iron ore trade softened again, primarily due to weaker demand from China and supply issues in Brazil. In January-October 2022, global iron ore loadings declined by […]
The tanker market is experiencing some of its best days of the past couple of decades, as ton-mile trading has grown considerably. In its latest weekly report, shipbroker Allied Shipbroking said that “oil markets look to be in complete disarray this week. The price of crude oil has dropped sharply once again in the face […]
With the year coming to an end, analysts are anticipating an elevated number of newbuilding orders, as owners will look to conclude more deals. In its latest weekly report, shipbroker Allied Shipbroking said that “the volume of newbuilding orders appeared rather diminished on a w-o-w basis, with the overall market appearing rather unable to remain […]
The ship recycling market has remained subdued over the course of the past week, solidifying the general market negativity of the past few weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the steel markets continue to fall daily in the Indian sub. Continent creating the negativity within the recycling industry and […]