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Industry News
A tidal wave of ships sold for scrap, is expected over the coming years, especially, as the green emission rules become more stringent. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the quiet market continued this week with both Bangladesh and Indian markets remaining stable. However, many of the industry players gathered […]
Jet fuel is poised to remain the fuel of choice for aviation, despite the fact that its growth demand is bound to diminish over time. In its latest weekly report, shipbroker Gibson said that “over the past 3 years jet fuel demand has taken a hammering, with the product by far the most impacted by […]
As the debate over the potential shipping decarbonization avenues is heating up, Hellenic Shipping News (www.hellenicshippingnews.com), interviewed Mr. Dave Gregory, Managing Director of North Europe for Baseblue. According to Mr. Gregory believes that the shipping industry will struggle to meet the 2030 mandates, set by the IMO. Baseblue was created through the merger of three […]
The product tanker market could see a boost over the coming months, as the US inventories need replenishing in a period when demand is expected to grow. In its latest weekly report, shipbroker Intermodal said that “the MR Atlantic time charter average experienced a significant increase of almost 150% last week, reaching $34,841 per day […]
The tanker market seems to be going through a structural change in cargo flows, with Russian oil now being, almost exclusively sold to China, India and Southeast Asia, while Europe’s imports have fallen to just 3%. In its latest weekly report, shipbroker Xclusiv said that “opening the conversation about seaborne oil trade, it must be […]
Newbuilding orders have kept growing, as owners are looking to book more berths, prior to them becoming unavailable. In its latest weekly report, shipbroker Allied said that it was “an active week in the newbuilding market, as owners face increasing pressure and prices to secure the earliest delivery slots. We have yet more MR tankers […]
Prices in the ship recycling market have held firm over the past week, as supply has been slow. In its latest weekly report, shipbroker Allied said that “after recent declines, ship recycling prices have held firm and even increased slightly, perhaps as a result of the relatively low number of demolition candidates. Bangladesh continues to […]
LNG shipping rates are headed for higher ground over the summer, as LNG demand is expected to keep growing. In its latest weekly report, shipbroker Intermodal said that “due to sluggish demand and massive inventories, spot LNG prices in Asia plummeted to a two-year low, while prices in Europe also declined below the $10 mark […]
The tanker market could be set to receive a positive boost, from an increase in cargo availability and ton-mile demand. In its latest weekly report, shipbroker Gibson said that “in a recent tanker market report, we highlighted some of the current issues surrounding transit crude and crude pipelines; on that note, attention once again has […]
LNG exports from the USA have become a main source of cargo demand for LNG shipping, as the country even managed to become the no1 exporter during the first four months of 2023, edging out Australia and Qatar. In its latest weekly report, shipbroker Banchero Costa said that “global seaborne LNG trade has continued to […]
Prices for bulkers have remained high, despite the falling trend of the dry bulk market. In its latest weekly report, shipbroker Xclusiv said that “despite indices softening over the past few weeks dry bulk asset prices remain relatively firm. Indices today are at decent levels, high enough for the owners to have earnings from freight […]
Orders for dry bulkers have grown over the past week, with more owners investing in the market’s long term prospects. In its latest weekly report, shibproker Allied said that “ordering activity lost some of its pace last week, but dry bulkers remained in focus for owners. While SnP activity remains healthy, some have noted that […]