Industry News
The dry bulk market could be further supported by China’s indication that it will throw more support towards its economy’s recovery. In its latest weekly report, shipbroker Xclusiv commented that “it remains to be seen whether the Chinese government’s actions will boost the dry bulk market. During the past month, the dry bulk market has […]
The tanker market’s medium-term momentum remains positive after the latest round of reports. In its latest weekly report, shipbroker Gibson said that “last week the IEA published its much-anticipated Oil 2023 report, after being forced to cancel/postpone two of the previous three releases due to the pandemic and watTORr in Ukraine. This year’s release is […]
Higher seaborne crude oil flows are up 8.5% during the first five months of 2023, with China, the E.U. and India, all posting higher imports. In its latest weekly report, shipbroker Banchero Costa said that “2022 was a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession. […]
The number of “green” ships ordered is growing in size, as the industry is beginning its long journey towards decarbonization. In its latest weekly report, shipbroker Intermodal said that “the shipping decarbonization pathway is well underway. During 2022 the process of decarbonization has hit a turning point as the majority of the newbuilt vessels ordered […]
With the lack of available berths threatening to limit options for the future, more and more ship owners are looking to secure more slots for future newbuildings, increasing their investment activity. In its latest weekly report, shipbroker Allied Shipbroking said that “newbuilding orders continued to flow last week, with tanker investment coming to the fore. […]
With climate change a reality, the ongoing grain season of high demand for dry bulkers, could be impacted. In its latest report, shipbroker Intermodal said that “last week, the Australian Bureau of Meteorology predicted that there is a 70% chance that the El Niño phenomenon will occur in the Pacific Ocean during the remainder of […]
For a long time, ship recycling conditions in South East Asia have been a target among NGOs. This can change, through the ratification of the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships. As such, last week’s news that Bangladesh has approved the ratification of HKC is seen as a major […]
The tanker market is expected to keep finding support from US oil exports moving forward. In its latest weekly report, shipbroker Gibson said that “as the US oil sector recovers from several challenging years, attention has been turning to US oil rig counts as a barometer of the health and productive capacity of the US […]
The tanker market was a mixed bag during the month of May. According to OPEC’s latest monthly report, dirty freight rates showed mixed movement in May. VLCCs experienced declines on all monitored routes, with Middle East-to-East spot freight rates falling 27% as long-haul tanker demand declined. Suezmax rates recovered some of the previous month’s losses, […]
Seaborne coal imports from China are on the rise this year. In its latest weekly report, shipbroker Banchero Costa said that “after a slow start in the first quarter, global coal trade has really picked up pace last year and is now fully back to pre-Covid levels. In the full 12 months of 2022, total […]
The newbuilding market has erupted over the past week, with reports of over 50 new vessels being contracted. In its latest weekly report, shipbroker Allied Shipbroking said that “the newbuilding market is strong with news of over 50 vessels contracted, and more if all options are declared. It was a good week for tanker contracting […]
A significant development in the ship recycling market has taken place this week. In its latest weekly report, shipbroker Allied Shipbroking said that “before any sales, the main news this week is the big step taken towards the ratification of the HKC following the approval from the Bangladesh government. Hopefully, ratification will follow in the […]