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Marine News:

VLCC Tonnage Supply Looking Ominous After the Latest OPEC Oil Production Cuts

The tanker market has suffered a lot from oversupply and the tide doesn’t seem to be changing any time soon either, especially in the light of the recent OPEC decision to limit oil production once again. In its latest weekly report, shipbroker Gibson said that “unless you’ve been living under a rock for the past ......


Braemar: LNG Shipping Rates to Remain Strong in 2019

”The LNG shipping market has become significantly tighter compared to the last few year and spot rates have hit multi year highs in Q4 2018. Supported by healthy LNG demand and supply fundamentals and limited vessel availability in the spot market, we expect the LNG freight market in 2019 to remain strong and that trend ......


East-West contract rates help reduce shippers’ costs

Ocean freight rates for cargoes moving under contracts on major East-West routes decreased by 7% in the fourth quarter, according to the results of Drewry’s Benchmarking Club Contract Index. The cost reduction, based on contract freight rate data provided confidentially by Asian, American and European retailers and manufacturers to the Benchmarking Club, shows that shippers ......


Dry Bulk Market: The Soybeans Trade is Getting More Complex as US – Argentina Trade is Growing

With China as a destination market for US soybeans having been eradicated these past few months (and just this week reappearing in the foray with one small shipment), US farmers have been looking for alternative markets. In a recent report, shipbroker Banchero Costa noted that “in recent weeks, there have been reports of increasing soybean ......


Dry Bulk Market Roundup: Capesizes Recover Lost Ground

Capesize A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/China, nudging the high $8.00s with rumours of $9.00 for prompt positions. In addition, there was finally action from Brazil, with a few cargoes fixed for China as the week closed out ......


Split bills of lading and ship’s delivery orders

When can split bills of lading or a ship’s delivery order be used Owners sometimes face a situation where the charterer asks the owner to discharge the cargo to more than one receiver, even though only one bill of lading has been issued for the full quantity loaded. In this case it is necessary for ......


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