Tanker Newbuilding Orders on the Rise

Tanker demand has boomed in the newbuilding market over the past few days, as the global orderbook remains quite low. In its latest weekly report, shipbroker Allied Shipbroking said that “ordering over the past few weeks was dominated by tanker newbuilding contracts, perhaps a symptom of the growing recognition of the relatively minimal deliveries expected … Read more

Tanker Market Improved in March

Dirty freight rates continued to improve in March with m-o-m gains seen across most monitored routes. VLCCs saw the sharpest increase, rising 45% on the Middle East to East route as renewed buying from China strengthened rates. Suezmax spot freight rates remained at high levels with rates gaining a further 20% m-o-m on the US … Read more

Ship Recycling: Tonnage Supply Scarce

The ship recycling has crawled down to a halt over the past week, as Easter Holidays had an impact in overall activity. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the supply of tonnage to the market has slowed considerably with only a handful of units being circulated into the market. The … Read more

LNG Shipping: More Summer Cargoes On the Way?

The LNG shipping market could stand to benefit from a potential increase in demand over the coming summer months, as Europe prepares for another winter of energy supply challenges. In its latest weekly report, shipbroker Intermodal said that “this year, LNG supply will likely exceed demand, so prices will need to decline to levels that … Read more