Industry News
The ship recycling market has seen limited activity for a number of weeks, as more and more old ships remain active, instead of being sold for scrap. The uncertainty regarding future “green” technologies and limited newbuilding deliveries are contributing factors to the above trend. In its latest weekly report, shipbroker Clarkson Platou Hellas said that […]
As the shipping industry, but also the IMO is facing increased pressure towards its decarbonization goals, it’s important to note that reaching consensus among all member states, is proving to be rather difficult, as some blocs (like for example China and its allies), are exerting significant pressure to delay decisions, or reduce the targets set, […]
The tanker market has experienced significant downward pressure so far in 2023, but this hasn’t affected ship prices as much. In its latest weekly report, shipbroker Xclusiv said that “one of the most discussed EU measures against Russia is the sanction of Crude oil and products along with the price cap. In June 2022, the […]
Newbuilding activity grew this past week, with more orders being reported. In its latest weekly report, shipbroker Allied said that “Dynacom’s ordering stole the show this week, as news of additional contracting came to light along with confirmation of older newbuildings placed on order. It is now established that the company has 6 VLCCS placed […]
The Bahamas Maritime Authority held its annual Greek Seminar late last week, in order to inform its partners in the local market on its activities and the recent developments in the IMO MEPC 80 session, which updated the shipping industry’s commitment to decarbonization. Highlighted by the presence and comments by Mr. Peter J. Goulandris, Vice-Chairman, […]
The ship recycling activity has been slow so far, with minimal transactions. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “market conditions are rather sluggish this week where few, if any, transactions are being negotiated, creating a sluggish vibe within the recycling community. The slow feel for the year is highlighted by […]
Demand for “green” ships is expected to boom over the coming years, already prompting the reopening of decommissioned shipyards, especially in China, while yard utilization percentages are also on the rise. In its latest weekly report, shipbroker Intermodal commented that “during the first 6 months of 2023, a total of 719 vessels have been contracted, […]
Argentina is expected to contribute more export seaborne cargoes of crude oil, as production ramps up, while consumption isn’t. In its latest weekly report, shipbroker Gibson said that “the explosive growth in Americas crude production has repeatedly focused on prospects in the United States, Guyana, Brazil and Canada. In the US, developments in the shale […]
The tanker market was mixed during the month of June, according to the latest monthly report from OPEC. Dirty freight rates continued to show mixed movement in June. VLCCs partially recovered from the previous month’s decline, with Middle East-to-East spot freight rates up 27% m-o-m, amid increased flows to the East. A pickup in Atlantic […]
Despite the positive long term fundamentals, as a result of the dry bulk fleet’s record low orderbook, in the short-term, the market seems to be under pressure. In its latest weekly report, shipbroker Xclusiv said that “the first week of July has come to an end, and the dry market is still in shallow waters, […]
Despite the rise in newbuilding ordering activity over the past couple of months, overall contracting so far this year is lagging compared to the past year. In its latest weekly report, shipbroker Allied Shipbroking said that “orders placed across Hyundai’s yards made for the biggest piece of news last week. While contracting activity remains well […]
The ship recycling market could receive an additional boost from the rumored return of Pakistan. In its latest weekly report, shipbroker Clarkson Platou Hellas commented that “some interesting news circulated within the industry this week with reports that Pakistan may soon be in a position to return to the bidding table. The Pakistani rupee strengthened […]