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Industry News
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 […]
The grain and soybeans trade sentiment appears to be mixed for the second half of 2023, as both positive and negative factors are expected to come into play. In its latest weekly report, shipbroker Intermodal said that “the assessment of the upcoming trade grain activity for the second half of 2023 reflects a nuanced sentiment, […]
Financing for “green” ships is widely available and on better terms, compared to ships using conventional technologies. Following are the main findings of Petrofin Research’s latest annual report on global ship financing trends. The Petrofin Index for Global Ship Finance which commenced at 100 in 2008, has remained stable at 63 in 2022 compared to […]
The US crude oil export trade has grown significantly over the past few years, with further growth during the first five months of 2023. In its latest weekly report, shipbroker Banchero Costa said that “2023 so far has been another positive period for crude oil trade, despite the high oil prices and risks of economic […]
The dry bulk market’s main themes are revolving around China’s emergence as a major coal importer and Ukraine’s grain exports. In its latest weekly report, shipbroker xClusiv said that “days go by and there is still no light at the end of the tunnel for the UN’s sea corridor for Ukrainian grain. Russian authorities have […]