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Industry News
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 […]
With summer now well underway, the dry bulk market is primed for much needed support, in the form of China’s need to replenish lower iron ore stocks, which is further boosted by low iron ore prices. In its latest weekly report, shipbroker Intermodal said that “looking at BDI’s current performance, we can all agree that […]
The tanker market is primed for an undersupply issue moving forward, as a lack of orders and an increase of scrapping of vintage tonnage are bound to create shortages in the coming years. In its latest weekly report, shipbroker Gibson said that “against the backdrop of escalating environmental pressure and a political focus on developing […]
With China switching to shorter distance coal imports, the dry bulk market and more specifically seaborne coal trade, seems to have taken a hit. In its latest weekly report, shipbroker Xclusiv said that “Europe’s appetite for coal import is limited as there are decent thermal coal stockpiles at European ports, along with strong natural gas […]
Both the newbuilding and secondhand markets were rather active over the past week. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “in tankers this week, Samsung announced contracts for two 158k dwt Suezmaxes for an unnamed owner, with the deliveries expected in 4Q 2025 and February 2026 respectively. CSSC Dalian Shipbuilding announced […]