Industry News
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 […]
“Driven by continued growth in minor ore demand in China, global seaborne minor ore exports rose 7% y/y in the first seven months of 2023, vastly outpacing the 2% y/y growth in overall dry bulk exports,” says Filipe Gouveia, Shipping Analyst at BIMCO. Accounting for 51% of seaborne minor ore exports, bauxite exports also led […]
Marco Bognolo, Vice President Basic Design, Merchant Ship Business Unit, Fincantieri Marco Bognolo serves as Vice President of Basic Design in the Merchant Ship Business Unit of Fincantieri. Thanks to the extensive experience previously gained in various disciplines of the technical department, in project management and as senior designer for cruise ships, over the past […]
Majority of 2570 Supply chain professionals surveyed in July hopeful of container market rebound, Container Price Sentiment Index (xCPSI) reflects positive outlook Container prices have remained stable in July, indicating a market improvement that offers favorable conditions for shippers entering the peak season Hamburg, 14 August 2023: Container xChange, an online container logistics platform, published […]
Spot rates for containerized ocean freight have climbed across three leading Far East export corridors after the latest round of General Rate Increases (GRIs) from carriers. The news, revealed by Oslo’s Xeneta, provides welcome relief for a segment that has been “up against the ropes” for much of 2023, fighting against declining demand and volumes, […]
The 9th session of the IMO Sub-Committee on Implementation of IMO Instruments (III 9) agreed on guidelines for remote surveys and ISM Code audits in extraordinary circumstances, and on updates to the survey guidelines under the Harmonized System of Survey and Certification (HSSC) and the procedures for port state control. Meeting highlights • Reviewed lessons […]
In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at deliveries of new container ships reaching a new record high during the first seven months of the year. The increase in fleet capacity comes at a time when current trade growth in many key regions is declining and […]
Reefer container freight rates continue to outperform the dry cargo trade, despite an unprecedented contraction in reefer seaborne trade last year, and this divergence is forecast to continue over the next few years, according to Drewry’s recently published Reefer Shipping Annual Review and Forecast report. The normalisation of the reefer trade and resultant freight rate […]
The Drewry Dry Bulk Equity Index dropped 15.2% YTD as a 28.5% slump between March and May was more than enough to offset an 18.4% jump in the first two months of 2023 and a 5.7% gain in June and July. Sell-side pressure in the aftermath of the banking crisis, a contraction in China’s manufacturing […]