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Marine News:

Tankers: VLCC Market On Volatile Mode, But Strong Middle East Demand a Positive Sign

As the crude tanker market looks set for another downward cycle, news this week that VLCC rates were volatile on mixed sentiment came as no surprise. Yet, the week ended with modest gains on strong Middle East demand. In its latest weekly report, shipbroker Charles R. Weber said that “there were 33 reported fixtures in ......


Dry bulk and tanker newbuild contracts 20% higher than 2016

Newbuild contracts have been signed for the dry bulk and tanker shipping industries at an increasing pace so far in 2017. The newbuild activity for the first half of 2017 has surpassed the same period last year by 20%. 5.9 million DWT was contracted in May 2017 and 3.1 million DWT so far in June ......


Multipurpose shipping market to strengthen on growing demand

Many key drivers for dry cargo demand have reported a significant uptick in 2017, resulting in improving conditions for all vessels in the multipurpose shipping sector, according to the latest Multipurpose Shipping Market Review and Forecast report published by global shipping consultancy Drewry. This year started out well with most demand drivers for the breakbulk ......


Hellas: Tankers and bulkers the main priorities among ship owners

Shipowners from Hellas have been very active in the S&P market since the start of the year, as cash-rich owners are looking to take advantage of the lower ship prices. During the month of May, as per Golden Destiny figures, Greek owners were responsible for 23% of the global S&P activity. They acquired a total ......


Panamax Period Performance Peaks

There’s some optimism in the panamax period market as major charterers continue to pick up vessels for charters of up to 12 months. The past week has seen Glencore, Norden and United Bulk Carriers each take a panamax on six-month charters at daily rates of between $8,250 and $9,150. Hudson Shipping also booked a Diana-owned ......


Till Death Us Do Part For Box Shipping’s Leading Pair?

Conventionally, the container shipping market is viewed as made up of two key elements: the freight market for moving boxes from A to B, and the charter market for hiring ships. Often these markets are happily moving in sync, but that’s not always the case. How does the relationship work and how closely have these ......


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