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Marine News:

Politics Impact the Demolition Market

A number of political, but also economical factors have had a negative effect on the sentiment of the ships’ demolition market this past week. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “this week saw further disruption affecting market sentiment as the Indian Central Bank Governor resigned at a politically sensitive time ......

Global shipping scouts for future growth

Where do we go to find economic growth that spurs shipping demand in the next five years According to the International Monetary Fund (IMF), we should look towards emerging and developing countries. The IMF also points out that advanced economies’ growth is on a downward trend and has been so since the mid-2000s. Such a ......

China’s import restrictions on coal spoils the party for Panamaxes

The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Panamaxes and thus rates. Nonetheless, we believe imports will be supported by winter and high-energy demand in the first quarter of 2019. In the first three quarters of 2018, China’s coal imports increased swiftly due ......

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 ......

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