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Market Insight

Our sector specialists have been examining the supply-demand factors of container, tanker and dry bulk markets regularly. Our aim is to look through rumours, noises and explain what the current market dynamics and future trends are. After all, markets are where shipping companies are making or losing their money.

Containers: Charter rate

Latest From Charter rates

Has the capesize market found a floor?

While the Baltic Capesize Index has flipped back above zero, current earnings represent only 0.9% of 2008’s golden year

Dry Bulk China

Capesize rates held back by limited Brazil shipments

Braemar ACM analyst Nick Ristic warns of further erosion in freight rates because of vessel oversupply

International Dry Bulk

Clean storage crisis triggers record product tanker earnings

The Baltic Exchange says rates for two long range tankers doubled in 48 hours on benchmark routes, while medium-range tankers plying transatlantic trades are 186% higher than last week at nearly $88k per day

International Tankers and Gas

Gearbulk renegotiates long-term charter rates with Japanese owners

The shipowner says the charter contracts made in earlier years are based on newbuilding prices and rates that are no longer sustainable going forward

Dry Bulk Charter rates

Ardmore predicts tanker rates rebound after coronavirus

The company said the market impact of coronavirus outbreak ‘may well be temporary’ and there were ‘offsetting factors’ to balance falling Chinese oil demand

Tankers and Gas Finance

Indonesia to review regulation on coal shipments

The regulation is due to take effect at the end of April this year

Indonesia Dry Bulk
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Containers: Between the lines

Latest From Between the lines

Between the lines: The extent of the coronavirus crisis

This worst-case scenario would be devastating for the industry, as the combined operating profits of the top 12 carriers during the past eight years was $20.9bn

Asia Pacific Europe

Between the lines: Information blackout

Carriers’ point-to-point online tools still leave much to be desired

International Containers

Between the lines: Ultra large tonnage impacts Asia-Europe trade

The liner industry is braced to receive around 400,000 teu of ‘mega vessel’ capacity this year, which is destined for the Asia-Europe trade, and a further 600,000 teu in 2020

Asia Pacific Europe

Between the Lines: CMA CGM outperforms generally lukewarm third-quarter carrier results

Operational returns underperform carrier expectations, despite healthy demand growth

International Containers

Between the Lines: Fourth-quarter capacity overhang

Expected blankings to reduce capacity after the peak season have yet to materialise

Asia Pacific North America

Between the Lines: Asia-Europe capacity outlook

Short and long-term Asia-Europe capacity forecast shows blankings appear necessary

Asia Pacific Europe
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Dry Bulk: Capesize

Latest From Capes

Focus on iron ore trade in Australia’s trade spat with China

Beijing has also imposed informal quotas on coal imports days, after announcing new inspection rules for iron ore imports

Asia Pacific China

Will greater LNG demand lead to the death of coal?

A 5% decline in thermal coal equates to just over 1% of total dry bulk demand, Stifel analyst Benjamin Nolan estimates 

International Dry Bulk

Vale reopens Malaysian terminal

Operations at the facility had been halted since March 16 as the Malaysian government started imposing lockdown orders on March 18

Asia Pacific Malaysia

Has the capesize market found a floor?

While the Baltic Capesize Index has flipped back above zero, current earnings represent only 0.9% of 2008’s golden year

Dry Bulk China

Angeliki Frangou encouraged by shrinking capesize fleet

Capesize fleet reduction has resulted from accelerating non-deliveries and scrapping of vessels alongside Vale’s recent announcement of its intent to phase out 25 converted very large ore carriers

International Dry Bulk

Capesize market plunges to lowest in four years

The Baltic Capesize Index moves back into negative territory after being above zero for only six weeks

Dry Bulk Capes
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Dry Bulk: Handies

Latest From Handies

Pacific Basin pulls plug on secondhand acquisitions

Company expects a rebound in economic activity and dry bulk trade flows once the coronavirus pandemic recedes and significant financial stimulus is implemented by various governments

Hong Kong Dry Bulk

TEN sells five vessels for $104m

TEN will post its fourth quarter of 2019 results on March 24

Tankers and Gas Sale and Purchase

Fundamentals trip up dry bulk market yet again

While earnings have remained at healthy levels moving into the final quarter of the year, this has little to do with market fundamentals, says BIMCO

Dry Bulk Capes

VLCCs and Japanese-built handysizes best bet for asset plays

Limited opportunities for asset plays in the past 10 years, as well as the current cautious approach to investment in the next generation of new ships, suggests that certain sectors may spike in the next two to three years

Asia Pacific Dry Bulk

Dry bulk geared segment to benefit from IMO 2020

Mr Hashim noted that about 32.16m dwt of tonnage in the geared vessel segment is more than 20 years of age. These vessels are most likely candidates for scrapping

Asia Pacific Dry Bulk

Shrinking fleet may aid smaller dry bulk segment

The dry bulk sector should end the year at least 10% higher on the Baltic index compared with 2018, said Western Bulk’s managing director in Singapore, Vivek Kumar

Dry Bulk Handies
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Dry Bulk: Panamax

Latest From Panamax

Indonesia revises coal law to lift dry bulk sector

Braemar ACM analyst Nick Ristic warns that this could be the first step of many towards gradually implementing these measures on the larger ships

Indonesia Dry Bulk

Coronavirus poses a risk to iron ore and coal shipments

Indonesian coal producers are already being asked to delay loadings of thermal coal to China

China Dry Bulk

Danaos buys second post-panamax in return to growth

The Greek owner’s most recent previous acquisitions were in 2014 and the new purchases underline the company’s rehabilitation

Danaos Sale and Purchase

India’s coal sector reform to replace up to 135m tonnes of imports

The privatisation of coal mines will have a knock-on effect on dry bulk shipping, which has benefited from the increased demand for seaborne coal in the previous year

Dry Bulk India

Japanese utility signs up NYK and MOL's first LNG-fuelled coal carriers

These coal carriers will draw on LNG supplies from a Kyuden subsidiary based in Japan

Japan Dry Bulk

SCI names first female managing director

Mrs Joshi will hold the position of managing director until May 2022

India Products
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Dry Bulk: Ultra & Supras

Latest From Ultra and supras

Indonesian coal cargoes boost supramax rates

Average daily earnings have almost doubled since the beginning of the year on two routes to Indonesia that contribute to the Baltic Supramax Index

Dry Bulk Ultra and supras

Precious Shipping's Hashim sees bumpy ride to recovery in the dry bulk market

Any small change in demand or supply in the dry bulk markets will have a disproportionate impact on the Baltic Dry Index and profitability, according to Precious Shipping managing director Khalid Hashim

Thailand Dry Bulk

Falling petcoke trades could dent prospects for smaller-sized bulkers

Although petcoke exports from the US will likely decline, hurting supramaxes, seaborne trade is only 1% of the overall dry bulk market, so the effect may not be that noticeable, according to analysts

Dry Bulk Ultra and supras

Dry bulk operators optimistic despite uncertainty

Although sluggish market sentiment has hit freight rates for the dry bulk segment, ship operators think they can rely on a rebound in the Chinese economy to support demand in the second half of the year

China Dry Bulk

Pacific Basin pulls plug on secondhand acquisitions

Company expects a rebound in economic activity and dry bulk trade flows once the coronavirus pandemic recedes and significant financial stimulus is implemented by various governments

Hong Kong Dry Bulk

India coal trade to keep supramaxes afloat

Declaring coal as an essential good will definitely boost imports into India, says a broker

Asia Pacific Dry Bulk
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Tankers & Gas: LNG

Latest From LNG

More US LNG cargoes will be cancelled through September

For the first time in a decade, gas is more expensive in the US than in Europe

International Tankers and Gas

Samskip employs Gasum for LNG bunkering

Two ro-ro cargo ships in Samskip’s fleet, which only run on LNG, will take in bunker fuel supplied by Gasum 

Norway Netherlands

Pointe LNG advances plans for Louisiana terminal

The marine terminal and deepwater port will have water depth of more than 50 ft, enabling offtake by 270,000 cu m Q-Max liquefied natural gas carriers

US States Tankers and Gas

MOL orders FSRU for German LNG terminal

The Wilhelmshaven terminal will have a capacity to import 7.25m tonnes of liquefied natural gas per year and is expected to come onstream in 2023

Tankers and Gas Europe

Will greater LNG demand lead to the death of coal?

A 5% decline in thermal coal equates to just over 1% of total dry bulk demand, Stifel analyst Benjamin Nolan estimates 

International Dry Bulk

Bahri reportedly puts LNG charter plan on ice

Given that the shipping tender was specifically tied to the Port Arthur project, it is not a surprise it has been put on hold

Saudi Arabia US States
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Tankers & Gas: LPG

Latest From LPG

VLGC earnings fall amid weak US–Asia arbitrage

Despite traders attempting to pry open the US–Asia arbitrage, prospects for the forthcoming months have seen netbacks edging closer to cancellation levels

Tankers and Gas LPG

Epic Gas warns LPG market recovery will be shortlived

The small LPG vessels specialist saw profits rise in the first quarter but sees tougher times ahead

Energy Fuels

Russian LPG cargo heralds new trade lane to India

In India demand for LPG, which is used mainly as a cooking gas, is likely to rise further because of increased domestic cooking as people stay under quarantine during the country’s coronavirus prevention measures

India Russian Federation

Rising LPG demand in India to boost spot rates

India is likely to increase imports of LPG from the Middle East, which supplied about 94% of its imports in 2019

India Tankers and Gas

BW LPG confirms Anders Onarheim as chief executive

Mr Onarheim became acting chief executive of the very large gas carrier owner in late 2019

BW firms People

Navigator launches LPG pool with Pacific Gas and Greater Bay Gas

The pool consists of 14 handysize vessels and will focus on the ethylene and ethane trade

LPG Energy
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Tankers & Gas: Products

Latest From Products

International Seaways optimistic for tanker market after earnings growth

Owner of crude and product tankers triples profit and expects better times ahead for the second and third quarters

Tankers and Gas VLCC

Product tanker market braces for ‘supercycle’

Product tanker owners report profitable first quarters of the year, but the second quarter is shaping up to reach unprecedented earnings levels

Products Ship operations

Torm sees strong two years for product tankers

The Danish owner saw profit boosted as revenues jumped and costs fell in 2019

Tankers and Gas Products

Heung-A Shipping undergoes KDB-led debt overhaul

The South Korean shipping company has reported losses since 2016 and saw its debt-to-equity ratio spike fivefold over the past three quarters

Tankers and Gas Finance

Opec to slash oil production due to coronavirus

Opec says the virus may push down global oil demand growth to only 480,000 barrels per day this year, from growth forecasts of 1.1m bpd in December, before the coronavirus outbreak

Tankers and Gas Energy

MOL appoints new head of chemical tanker unit

Top management change has been timed to follow MOL Chemical tankers making its first forays into tank terminal business

Japan Tankers and Gas
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Tankers & Gas: Suez & Aframax

Latest From Suez and Aframax

Nordic American Tankers says market outlook is ‘promising’

Suezmax specialist books $39.6m profit in the first quarter

Suez and Aframax Energy

Euronav chief committed to public equity markets

Euronav chief executive rejects any suggestion of going into private ownership and says the company’s dividend policy is part of a long-term strategy to benefit investors

Euronav VLCC

MISC warns tanker good times may not last into second half of 2020

MISC also pointed to a weak global economy and low liquefied natural gas prices as a factor in possible delays to planned LNG projects, which could in turn lead to slower fleet growth

Asia Pacific Tankers and Gas

International Seaways optimistic for tanker market after earnings growth

Owner of crude and product tankers triples profit and expects better times ahead for the second and third quarters

Tankers and Gas VLCC

Indian refiners seek floating storage to take advantage of contango

Some 7m tonnes is currently in floating storage bought up by Indian refiners, according to oil minister Dharmendra Pradhan

India Tankers and Gas

Clean storage crisis triggers record product tanker earnings

The Baltic Exchange says rates for two long range tankers doubled in 48 hours on benchmark routes, while medium-range tankers plying transatlantic trades are 186% higher than last week at nearly $88k per day

International Tankers and Gas
See All

Tankers & Gas: VLCC

Latest From VLCC

HHI wins $178m twin VLCC order

Hyundai’s last order was a pair of suezmaxes ordered at the beginning of May, also by an undisclosed European owner

Tankers and Gas VLCC

China Merchants orders two eco VLCCs at DSIC

Deal follows a contract for four VLCC newbuildings signed separately between the two parties in November

China Tankers and Gas

Euronav chief committed to public equity markets

Euronav chief executive rejects any suggestion of going into private ownership and says the company’s dividend policy is part of a long-term strategy to benefit investors

Euronav VLCC

Floating storage duration to offset Opec crude cuts, says Navig8

‘Long and slow drawdowns of floating storage will place a wet blanket on earnings for an extended period’ — Navig8 Group research director Paul Marsh

International Tankers and Gas

Euronav sees floating storage as key to future profit

Floating storage will prop up the tanker market amid weak transport demand but charterers are 'abusing' contract negotiations, Euronav says

Euronav Energy

International Seaways optimistic for tanker market after earnings growth

Owner of crude and product tankers triples profit and expects better times ahead for the second and third quarters

Tankers and Gas VLCC
See All
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