Industry News
In September 2022, head-haul and regional trade volumes were lower than in 2021 into all import regions except the Far East. Remarkably, volumes into North America, which led the surge in volumes during COVID, saw the greatest loss at -20.6% y/y. For container shipping the head-haul and regional trade volumes are the key drivers of […]
As the VLCC market goes from strength to strength, we’re exploring some of the factors that are driving this trend. Oil demand across the world remains robust and is closing in on pre-Covid levels. At the same time, production levels are improving, and while OPEC and its allies have recently announced a small reduction in […]
More deals are being reported in the newbuilding market, as ship owners are proceeding with further investments. In its latest weekly report, shipbroker Allied Shipbroking said that “things in the newbuilding pivoted over into a more fervent orbit as of late, given the increased number of fresh deals that came to light during the past […]
At COP26 in Glasgow, nations reaffirmed their commitment towards the Paris Agreement temperature goal through the Glasgow Climate Pact. Decarbonizing global shipping is a critical part of reaching the Paris Agreement target of limiting global warming to 1.5°C and building zero emissions, resilient global supply chains that billions of people rely on for food, energy, […]
The imperative to decarbonise the global shipping industry is clear and present, however, many of the world’s largest importers and exporters are insufficiently informed about the full implications of the forthcoming new emissions regulations and the billions of dollars that will be added to freight costs in the future. Pressure to decarbonise and reduce emissions […]
Tanker owners could be prompted to sell a part of their fleet in order to take advantage of the existing bullish market sentiment and capitalize on potential revaluations. In its latest weekly report, shipbroker Allied Shipbroking said that “the tanker market has pivoted towards a bullish trajectory for many months now, amidst a turbulent era […]
2022 to date has seen a total of 292 Container sales, with the majority of these transactions taking place in the in the first half of the year. In October there were just nine Container sales reported, compared to 47 in January, a decrease of 81%. Of the sales recorded, four went to Greek buyer […]
As world leaders gathered in Sharm el-Sheikh, Egypt, for COP27 on November 7-8, emissions from shipping remained a key focus. While shipping is not covered by the Paris Climate Accord – the main thrust of COP27 – the decarbonisation of the sector is undeniably a priority. An early announcement from COP27 reinstated a commitment to […]
The LPG shipping market has experienced considerable growth this year, with global exports growing by 3.8% from January to October. In its latest weekly report, shipbroker Banchero Costa said that “global LPG (liquified petroleum gas) trade was very disappointing in 2021, owing to the economic impact from COVID-19. Total seaborne exports of LPG in 2021 […]
Ocean carriers on the Asia to West Coast trade are fast approaching the point where they will lose money on every container they haul as plummeting spot rates sink near pre-pandemic levels and bump up against a new break-even level driven by falling volumes and today’s much higher operating costs. Spot rates from Asia to […]
Capesize Activity in the Capesize market had the 5TC pushing in value over a few days in midweek. However, pessimism prevailed as the rates dropped down to close the week -895, settling at $12,807. Some chatter in the market expects an improvement in rates to end the year, although this is yet to eventuate. Charterers […]
The VLCC tanker market should retain its positive momentum as the year draws to a close and even more so in 2023. In its latest weekly report, shipbroker Gibson said that “VLCC earnings have been remarkably strong over the past few months despite the prospect of OPEC+ production cuts which are largely focused on the […]