Weekly briefing: Tankers tackle shrinking demand; China looms large for bulk trades
Lloyd’s List’s weekly headline view of the stories shaping the key shipping markets
Tanker tonne-mile demand contracted considerably last year and this year looks no more favourable with spot earnings for VLCCs, suezmaxes and aframaxes now unsustainable. Meanwhile capes are crashing in the dry bulk market, but Chinese New Year is anything but usual. And in the box sector situations are becoming a little heated as a third of containerised cargoes are being rolled over from their scheduled departures