Newbuilding Prices Are Still Elevated, But Interest Remains High in the LNG/LPG, Product Tanker and Container Segments

The newbuilding contracting activity has been hampered so far this year, by elevated prices. However, owners are interested in placing more orders in the gas, product tanker and container segments. In its latest weekly report, shipbroker Allied Shipbroking said that “container shipping company ONE continued the trend for investment in efficiency enhancing technologies and alternative … Read more

Tanker Rates Moved to Higher Ground Last Month

The tanker market reached a higher ground during February. According to OPEC’s latest monthly report, “dirty freight rates improved in February, with m-o-m gains in VLCCs and Suezmaxes outpacing declines in Aframaxes. VLCCs picked up from a low base, as renewed demand for long-haul vessels strengthened rates. On the Middle East-to-East route, dirty spot freight … Read more

Ship Recycling: Limited Activity Throughout Despite More Units Becoming Available

Few sales have been completed in the ship recycling market this past week, despite the fact that there are more negotiations taking place. In its latest weekly report, shipbroker Allied Shipbroking said that “whilst there are certainly more units being talked around, actual concluded sales remain limited. Sentiment remains optimistic from both India and Bangladesh, … Read more

2022 Cargo Review: S&P and Values

Introduction After 2021’s high S&P activity levels, 2022 was a more muted year. 2021 saw Bulkers and Containers take the spotlight, while 2022 had been the year of the Tanker. All sectors have appreciated in value, particularly for older tonnage where 20 year old vessels have increased in value by as much as c.142% in … Read more