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Demolition Activity On “Holiday Mode”

30.07.2020

The ships’ recycling market has slowed down over the course of the past week, as a holiday slowdown has apparently had an impact. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the market feels stale at this current time as the holiday season kicks in and the tonnage supply appears to have slowed from the frenzy of recent weeks. 

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Marine fuels & IMO 2020: So much for all the hype

23.07.2020

As the shipping industry has moved further into 2020, and with the need to comply with new regulations to cap the sulphur content of fuel burned to 0.5% compared to 3.5% previously, it has become clearer that the fuel of choice for ship owners is very low sulphur fuel oil (VLSFO), rather than a marine gasoil. This is evident when looking at bunker fuel sales in Singapore, with VLSFO making up almost 70% of total fuel oil sales in the first six months of the year, this compares to around 11% when it comes to marine gasoil. Meanwhile, given the use of scrubbers on some vessels, high sulphur fuel oil (HSFO) sales made up around 18% of total sales.

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Tankers: Oil Production Trends Pointing Towards Middle East’s Important Role for Shipping

14.07.2020

The tanker market is expected to remain heavily reliant on Middle East crude flows for a little while longer. In its latest weekly report, shipbroker Gibson said that “with world oil demand having collapsed in the wake of the Covid-19 pandemic, major downwards pressure on oil production was always going to be inevitable. 

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The 2010s: a decade of market imbalance and ultra large container ships

07.07.2020

Reduced volumes are currently posing a major challenge to container shipping due to the COVID-19 crisis. So far, freight rates have been held up by the massive blanking of sailings that carriers have put in place. However, even before this crisis, the container shipping industry was saddled with overcapacity carried over from the previous decade, a problem that will rise again due to the demand fallout from the COVID-19 pandemic.

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Dry Bulk Market: Capesize Market Reaches New Highs

29.06.2020

As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a barrage of negative factors, the capesize 5TC market has outperformed in spectacular fashion to now reside at $29641.

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Globus Maritime Reports 35% Decrease in Voyage Revenues on COVID-19 Impact.

15.06.2020

Globus Maritime Limited, a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2020.

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