Recent News

How COVID-19 has driven a technology revolution in shipping.


Last year, satcom specialist IEC Telecom[i] highlighted that demand for digital technology had risen tenfold as maritime businesses embraced new ways of working during the coronavirus pandemic. But why has it taken a pandemic to change attitudes to technology?

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Scrap Prices Should Rise in Order To Attract More Tonnage Says Shipbroker


An underwhelming demolition market has been the norm so far this year, despite expectations that a lackluster freight market, mainly for tankers, could increase tonnage sold for scrap. However, this hasn’t been the case so far, not to mention that owners of bulkers and containers prefer to keep them in the market, due to improved freight rates. 

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No Respite for Tanker Owners Until the Second Half of 2021


All hope for the tanker market’s recovery is rested on the second half of the year, when oil demand is expected to rebound considerably.In its latest weekly report, shipbroker Allied Shipbroking said that “the uninspiring freight scene in the crude oil tanker market has persisted for a very long period and owners with their vessels trading mostly in the spot market have seen a significant accumulation in negative earnings. 

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Lack of Tonnage Prevalent in the Demolition Market


Alack of tonnage is becoming evident in the ship recycling market, as the firming up of the freight market has limited selling opportunits among ship owners. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “with owners still enjoying the fruits of the continued firm freight markets, particularly in the dry sector, the alarming lack of tonnage in the market gives a barren feel to discussions.

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Shipbreaking Industry Receives a Boost


Structural changes in the shipbreaking industry in the Southeast Asia region are about to provide additional support to the demolition market. In its latest weekly report, the shipbroker Clarkson Platou Hellas said that “the budget announcement from India this week brought some positive news towards the shipping industry with the Government seemingly attempting to prioritize shipping as a major benefactor of funding as they position themselves to increase their share in the world of shipping seeking more vessels flying the Indian flag, more jobs for national seafarers and more green recycling at Alang. 

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Tanker Market in the Cusp of a Structural Change


The energy mix is bound to shift, as fossil fuels are expected to take a back seat, in favor of alternative fuels. As such, the tanker market is going to face structural changes moving forward.In its latest weekly report, shipbroker Allied Shipbroking said that “one of the dominating trends in investments since the beginning of the year and since the election of Joe Biden in the US presidential elections, has been the “clean energy” concept. 

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