Recent News
Ship Owners Starting to Make Waves in the Market
31.07.2020Ship owners have been rather active both in the newbuilding and the second hand market for ships over the past week. In its latest weekly report, shipbroker Banchero Costa said that “several sales took place in the dry segment during the week although several countries such as Singapore, Hong Kong, etc. imposed stricter rules for crew change and this may affect future transactions. S Korean controlled Kamsarmax bulker “Wise Young” 82,000 dwt built in 2011 at Daewoo with SS/DD due in November (out-of-sync) 2020 will end up in Greek hands for $13.5 mln.
learn more →Demolition Activity On “Holiday Mode”
30.07.2020The 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.
learn more →Marine fuels & IMO 2020: So much for all the hype
23.07.2020As 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.
learn more →Tankers: Oil Production Trends Pointing Towards Middle East’s Important Role for Shipping
14.07.2020The 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.
learn more →The 2010s: a decade of market imbalance and ultra large container ships
07.07.2020Reduced 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.
learn more →Dry Bulk Market: Capesize Market Reaches New Highs
29.06.2020As 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.
learn more →Globus Maritime Reports 35% Decrease in Voyage Revenues on COVID-19 Impact.
15.06.2020Globus Maritime Limited, a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2020.
learn more →Newbuilding Market of “Two Worlds”
04.06.2020Ship owners have reentered the newbuilding market, but only for the segments which have shown the most potential. In its latest weekly report, shipbroker Allied Shipbroking said that “the vast difference in sentiment being noted between the dry bulk and tanker sectors was perfectly depicted last week in the newbuilding market.
learn more →Getting the bunkering lead time right is more important than ever
01.06.2020The key factors that are worth considering when buying bunker fuel are quality, availability and price. Excluding quality, availability and the relative price paid generally tend to correlate with the lead time, which is the difference between the enquiry/stem date and the start of the delivery window. Following the IMO2020 transition, longer lead times have […]
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