Industry News
The dry bulk market could receive a boost from the existing condition in the Black Sea grain market. In its latest weekly report, shipbroker Intermodal said that “global grain markets continue to remain stretched. Drought, high temperatures, heavy rainfalls, poor yields, and geopolitical disruptions have been increasing uncertainty and lowering demand for bulk carriers. Rates […]
Demand for tankers aged from 15-years and older have been in high demand in the secondhand market. In its latest weekly report, shipbroker Gibson (https://www.gibsons.co.uk/) said that “this year, 15-year-old crude tanker values have broadly outperformed the rest of the secondhand tanker market in terms of both prices and enquiry. The main reason for this […]
The EU’s share of LNG imports via sea has grown to 24.6% during the ten months of 2022 (January-October), which means it now is the biggest importer globally. In its latest weekly report, shipbroker Banchero Costa said that “global seaborne LNG trade has continued to surge this year, helped also by the disruption to Russian […]
The dry bulk market is expected to remain in bearish territory for the next few months analysts claim. In its latest weekly report, shipbroker Allied said that “there has been a fair amount of distress noted in the dry bulk sector for some time now. For many, the feel is that this bearish period has […]
Newbuilding ordering activity kept up its rising trend over the course of the previous week. In its latest weekly report, shipbroker Allied Shipbroking said that “newbuilding market activity was kept at firm levels during the past week given the fair flow of fresh projects that came to light. A remarkable shift was recorded within the […]
The ship recycling market is in a state of disarray, as tonnage availability has been scarce. Even when there are potential candidates, things aren’t quite that simple, as a result of a shortage of dollars in Bangladesh. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “it is the start of the World […]
It seems that each calendar year since 2020 has each own “winner”, when it comes to the part of the shipping industry which reaps the most benefits from the course of the global economy and trade. If 2021 was the year for containers and 2022 is the one for LNG tankers, it seems that 2023 […]
The current energy crisis and cost of living conditions could hinder climate goals in favor of fossil fuels. This, in turn, could delay peak oil, thus prolonging the existing life cycle of many tankers, both existing and newbuildings. In its latest weekly report, shipbroker Gibson said that “as COP27 comes to a close, the opposing […]
Oil demand growth is expected to slow to 1.6 million barrels per day (bpd) in 2023, down from the 2.1 million bpd anticipated for 2022, according to the International Energy Agency (IEA). Making the predictions in its seminal World Energy Outlook 2022, the IEA blamed the dip on “mounting economic headwinds”. A worsening GDP outlook […]
From 1 January 2023 vessels must start collecting data for the reporting of their annual operational carbon intensity indicator (CII) and CII rating, and at first survey after this time, verification of the calculated attained Energy Efficiency Existing Ship Index (EEXI). Amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex […]
The tanker market improved considerably, during the month of October, OPEC said in its latest monthly report. Very Large Crude Carrier (VLCC) rates continued moving higher in October, with gains seen on all major routes. Spot VLCC rates on the Middle East-to-East route rose 8%, while on the West Africa-to-East route, they gained 10%. Rates […]
After a series of weeks with minimal to none activity, tonnage availability has finally began to filter through to the ship recycling market. However, not many scrapyards are willing takers. In its latest weekly report, shipbroker Clarkson Platou Hellas commented that “this week has shown how volatile the Recycling industry truly can be. We have […]