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
The trend of increasing coal imports both globally, but also from the EU has continued unabated during the first quarter of 2023. In its latest weekly report, shipbroker Banchero Costa said that “global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Mar 2023, total … Read more
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
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
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
West Africa crude oil exports kept falling during 2022, continuing the downward trend of the past few years. In its latest weekly report, shipbroker Banchero Costa said that “2022 turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession. In the full 12 … Read more