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Marine News:

Tankers: VLCC Market On the Mend?

Tanker owners were granted some respite over the course of the past week, as demand in the VLCC market edged higher. In its latest weekly report, shipbroker Affinity Research commented that “VLCCs experienced a positive start to the week, with 32 cargoes covered in the MEG for May’s first decade. Charterers managed to maintain low ......


Crude And Containers – An Odd Couple Close Together

Across the spectrum of seaborne trade, crude oil and containers could hardly be more different. The former is the classic raw material commodity, whilst the latter represents the shipping of all sorts of manufactured end products. Yet in 2017, total seaborne trade in each stood less than 170 million tonnes apart, with a combined volume ......


Chinese Product Push

Asian refining margins remained relatively stable over the first quarter of 2018 with Singapore margins largely supported by a stronger middle distillate segment. Growth in product exports out of this region has been quite strong over 2016/2017; however, we note a weakening of this trend in the second half of 2017 and into this year, ......


Tankers: Bunker Costs To Rise on Higher Oil Prices

The rise of oil prices in the past few weeks will translate into higher bunker costs, but not change the current balance in the market and thus freight rates. In its latest weekly report, shipbroker Gibson said that “last night saw ICE Brent close at $73.78/bbl, the highest since November 2014. Oil prices have been ......


Orderbook Offering An Echo Of The Distant Past

The shipping markets are renowned for their volatility but today there is one aspect of the industry where the last cycle has taken 20 years. The orderbook expressed as a percentage of the existing fleet, a widely used statistic, is basically back where it was twenty years ago, following a very long cycle indeed, and ......


Dry Bulk Market Charges Back

Capesize This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, from mid-$13.00s, to somewhere in the $18.00s. Despite all this activity, the West Australia ore rates have moved a modest amount. There have been daily fluctuations, with FMG paying $7.50 for a ......


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