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Marine News:

Tanker demolition could pick up on market-based conditions, rather than legislation

The tanker market isn’t in its best during this year, with rates subdued and oversupply concerns being the main hindering factor to a rebound. As such, many market analysts expected that a higher demolition rate could be the solution and this development could be triggered by new legislation measures, most notably the Ballast Water Management ......

Those Dog Days of Summer Steel Production in China

One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s steel output and demand are very weak in summer months. The pundits that make this claim year after year ignore what actually occurs in China. However, as examined in Commodore Research’s July 3rd Weekly ......

UKHO supports safe arrival of HMS QUEEN ELIZABETH into Portsmouth

The United Kingdom Hydrographic Office (UKHO) has supported the safe arrival of HMS QUEEN ELIZABETH into Portsmouth today by providing specialist marine geospatial and hydrographic expertise and data capabilities. Following initial dredging operations to make Portsmouth’s navigation channel and entrance deeper, hydrographic data was collected by the survey launch HMS GLEANER using modern multibeam echosounder ......

Shipbroker Optimistic About the State of the Shipping Markets

In its latest weekly report, shipbroker Intermodal noted that “during the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enjoy a strong Q4 and healthier rates compared to last year”. According to Intermodal, “in order to put things into perspective, it would be ......

Singapore July Bunker Sales Hit Six-Month High

Reversing two consecutive months of declines, total bunker sales in Singapore surged by 6.8% y-o-y to a six-month high of 4.39 mmt in July. Y-o-y growth for the first seven months of 2017 has averaged 3%, quelling doubts that the compulsory use of mass flow meters (MFMs) in Singapore may raise operating costs and lead ......

Shifting oil market dynamics key to 2018 tanker trade prospects says MSI

The Q3 2017 tanker market is proving vexatious for owners still struggling with the effects of fleet oversupply. But in its latest monthly forecast, Maritime Strategies International observes that changing trade patterns could help stabilise the market towards year-end and into 2018. With all-OPEC crude exports setting record highs in July, the cartel’s attempts at ......

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