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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

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

A dry end to the year for the bulkers market

Charterers were reported to be talking down rates on a lack of real business, according to one broker

International Dry Bulk

Winter slack season subdues box charter market

Although brokers are reporting little action in the market, charter rates remain stable across most ship sizes with only marginal variations being seen on certain fixtures

International Containers

Genco sees a strengthening dry bulk market

The dry bulk carrier owner has installed scrubbers on 12 of its 17 capesize vessels, representing a 71% completion rate

Dry Bulk Charter rates

Container shipping charter market resilient ahead of seasonal slowdown

Demand is proving particularly resilient in the larger sizes, with further tonnage being fixed on long-term charters, according to Alphaliner

International Containers
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Containers: Between the lines

Latest From Between the lines

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

Between the Lines: Capacity changes

Increasing vessel size on major trade lanes has led to a collapse in the number of services offered.

Containers Between the lines
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Dry Bulk: Capesize

Latest From Capes

Polaris Shipping chief convicted over Stellar Daisy's fatal sinking

Families of the victims were disappointed with the punishment, saying they would appeal to hold Mr Kim liable for the loss of the seafarers’ lives

South Korea Dry Bulk

Coronavirus slows dry bulk market to a crawl

BHP warns that if the outbreak is not contained by March or in case it re-emerges, that would be damaging for both real activity and market sentiment

China Dry Bulk

Negative BCI is the result of a ‘technicality’

The C16 revised backhaul route breached its threshold dragging down the BCI to unheard of negative numbers 

Dry Bulk Capes

Seanergy sees ‘positive year’ after second quarter

In January, the coronavirus outbreak, floodings in mining areas of Brazil, combined with higher fuel prices saw average time charter earnings for capesizes plunge

Seanergy Dry Bulk

Vale cuts quarterly production because of heavy rainfall

Despite rains affecting the January-March iron ore projections, Vale maintained its full-year production guidance of 340m to 355m tonnes

Dry Bulk Freight rates

The week in charts: Baltic capesize index crash and EU proposes 40% carbon intensity reduction

The Baltic Exchange will carry out a review into the weightings of the routes used to compile its capesize index after it plunged deeper into negative territory this week

Coronavirus Environment
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Dry Bulk: Handies

Latest From Handies

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

Pelita Samudera Shipping adds to fleet with handysize from IMC

The company has expanded aggressively in the past year, boosting capacity almost eightfold to 234,000 dwt from just 31,000 dwt in early 2018, and planning to purchase two new tug and barge pair sets in the second half of this year on the back of an expected continued increase in coal shipment demand
Indonesia Asia Pacific

Clipper Bulk adds handysizes to fleet

Copenhagen-based company says the 2010-built vessels are expected to be delivered in the coming months

International Dry Bulk
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Dry Bulk: Panamax

Latest From Panamax

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

MOL orders next-generation coal carriers

The group anticipates ongoing orders for EeneX vessels and expects them to play a leading role in its coal carrier business

Japan Dry Bulk
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Dry Bulk: Ultra & Supras

Latest From Ultra and supras

Asian Bulk Logistics-backed transhipper seals contract in Guinea

Shi.E.L.D. will manage and operate the Asian Bulk Logistics-owned vessel to facilitate bauxite exports in Guinea

Middle East and Africa Dry Bulk

Precious chief sees more vessels headed for recycling yards in 2020

Mr Hashim added that the current orderbook is, at best, replacement capacity and not additional capacity

Ship Recycling Dry Bulk

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

Indonesia nickel ore export ban hits supramax rates

Rates on voyages from South China via Indonesia back to South China, fell as low as $11,031 per day on Friday, a decline of 14% compared with the levels seen a week ago

Indonesia Dry Bulk

Platts unveils time charter indices for scrubber and non-scrubber bulk carriers

The vessel speed and consumption used in these TCE calculations are derived by market survey and reflect market practice for vessels using the low-sulphur fuel

Dry Bulk Environment

Pacific Basin to raise up to $175m with bond sales

The bonds will mature in December 2025 with a bondholder’s put option in December 2023
Hong Kong Pacific Basin
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Tankers & Gas: LNG

Latest From LNG

POSH wins major Petronas towage contract

PDLNG Dua is slated to be the world’s first FLNG vessel to operate in deep water

Malaysia Offshore

More US LNG cargoes cancelled as spot prices tank

Forward gas prices no longer support shipping LNG from the US to Europe, according to BloombergNEF

International Tankers and Gas

Qatar delays LNG expansion plans

A delay should reduce near-term contracting competition for US projects, Stifel noted

Qatar Tankers and Gas

Nakilat posts highest-yet net profit in 2019

The chairman cited favourable market conditions accompanied by business diversification and resource optimisation that helped to elevate the company to new heights

Qatar Tankers and Gas

Coronavirus: Sellers challenged to find new homes for diverted LNG cargoes

Qatargas, Shell and Total are believed to be three liquefied natural gas suppliers hit by CNOOC-declared force majeure

LNG Tankers and Gas
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Tankers & Gas: LPG

Latest From LPG

Nakilat posts highest-yet net profit in 2019

The chairman cited favourable market conditions accompanied by business diversification and resource optimisation that helped to elevate the company to new heights

Qatar Tankers and Gas

Chinese LPG demand to fall by 3% due to coronavirus

If prices are depressed further, some of the cargoes will most likely be sold to buyers in other countries such as Indonesia, Japan, South Korea and India, say Poten & Partners

China LPG

StealthGas LPG carrier leaking off China

Vafias Group is listed as the beneficiary owner of the vessel, while the Greek owner’s tanker arm StealthGas is the commercial operator, according to Lloyd’s List Intelligence data

Tankers and Gas Safety

BW LPG firms up four more LPG-fuelled VLGCs

The retrofitting of the first LPG dual-fuelled engines into four VLGCs is taking place as planned this year

Singapore Tankers and Gas

Dorian LPG doubles buyback programme limit to $100m

Adjusted earnings before interest, taxes and depreciation more than doubled to $59.9m and revenues increased by 55% compared with the same quarter a year ago to $85.4m

Dorian Lpg Tankers and Gas

Vafias agrees $126m deal for LPG carriers

Three medium-sized fully-refrigerated LPG carriers from Hartmann Reederei will come with remaining charter periods to Geogas, Total and Mexican charterer Grup Nieto, say market sources

Tankers and Gas LPG
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Tankers & Gas: Products

Latest From Products

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

Concordia eyeing new tonnage amid bullish market

Chief executive Kim Ullman urges the market to avoid ordering newbuilds as he expects high freight rates in 2020

International Tankers and Gas

China’s oil and gas demand to slow in February

Analysts have slashed growth forecasts and warned of further cuts if the coronavirus succeeds in establishing a choke hold on the Chinese economy

International China

Concordia buoyant on product tanker market prospects

Tough couple of years is followed by long-awaited recovery in 2020 that could carry over into next year

Products Regulation

Stolt-Nielsen sees ‘gradual upturn’ in chemical tankers

Stolt-Nielsen’s net profit grew to $5.53m in the fourth quarter of 2019, but annual profits fell.

Tankers and Gas Products

SCI names first female managing director

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

India Products
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Tankers & Gas: Suez & Aframax

Latest From Suez and Aframax

Rapid growth of US Gulf crude exports ‘nearly over’

Many shale producers have debt maturing in 2022 estimated at $30bn, and they will divert cash to pay back debt rather than invest in drilling, says Chris Midgley of S&P Global Platts

Tankers and Gas VLCC

MISC tanker unit wins Petrobras contracts worth $526m

The contract is due to begin in 2022 and will boost AET’s business with Petrobras

MISC Brazil

Unipec again tops the ranking of spot charterers

Oil major Shell remained solidly in the number two slot, while Vitol jumped up to third position in 2019

International Tankers and Gas

SCI names first female managing director

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

India Products

Euronav gains two suezmaxes with joint venture

The very large crude carrier giant partners with ‘affiliates of Ridgebury Tankers’ and ‘clients of Tufton Oceanic’ to set up 50:50 joint ventures for each vessel

Euronav Finance

Platts unveils time charter indices for scrubber and non-scrubber bulk carriers

The vessel speed and consumption used in these TCE calculations are derived by market survey and reflect market practice for vessels using the low-sulphur fuel

Dry Bulk Environment
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Tankers & Gas: VLCC

Latest From VLCC

Rapid growth of US Gulf crude exports ‘nearly over’

Many shale producers have debt maturing in 2022 estimated at $30bn, and they will divert cash to pay back debt rather than invest in drilling, says Chris Midgley of S&P Global Platts

Tankers and Gas VLCC

Euronav buys first scrubber-fitted VLCCs

The crude oil carrier owner will spend $280.5m on the very large crude carrier trio being constructed at DSME

Euronav VLCC

Cosco VLCCs attract charterer interest after sanctions lifted

CNOOC provisionally agreed a rate of Worldscale 45 to load 260,000 tonnes of crude on Cosrising Lake from West Africa to China

Tankers and Gas Sanctions

Evalend increases VLCC tally in South Korea

Evaland confirmed the first three very large crude carriers to Lloyd’s List when they were ordered a year ago

South Korea Shipbuilding

Spread of coronavirus threatens tanker market

Full-year global demand growth for dirty tankers could be affected by about 0.5% in its scenario, Braemar ACM said

International Tankers and Gas

China’s oil and gas demand to slow in February

Analysts have slashed growth forecasts and warned of further cuts if the coronavirus succeeds in establishing a choke hold on the Chinese economy

International China
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