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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.

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Containers: Charter rate

Latest From 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

Two-tier box charter market extends through mid-year

With larger tonnage in demand to cover scrubber retrofits, a two-tier charter market has been created, with vessels in excess of 6,000 teu commanding increasing rates as smaller ships lose ground

International Containers

Trade war dims charter market sentiment

Owners will have to withdraw transpacific capacity if proposed tariffs come into effect, leaving chartered tonnage due for expiry in 2019 heavily exposed, according to MSI analysts Daniel Richards

Containers International

Costamare eyes surge in rates for larger boxships

Costamare’s latest earnings report highlights the lift-off in post-panamax boxship rates in recent weeks with several stand-out fixtures amid good fundamentals of low supply and strong demand

International Costamare

GasLog newbuild locked into eight-year charter

The long-term charter at undisclosed rates comes with two optional extension periods of six years each, which GasLog says will reduce risk and improve cash flow visibility

Monaco Tankers and Gas

Caribbean aframax market suffers from lack of Venezuelan cargoes

India could be willing to cut all imports of Venezuelan crude to satisfy US sanctions in return for further waivers on importing Iranian crude

Venezuela United States
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Containers: Between the lines

Latest From Between the lines

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

Between the Lines: Alliances analysed II

We round off the alliance capacity injection analysis with the transatlantic trade

Containers Between the lines
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Dry Bulk: Capesize

Latest From Capes

Golden Week holidays cast shadow over capesize chartering

The decline in iron ore and coal imports by China has come on the back of a government order to reduce steel production during the week-long holiday

China Dry Bulk

NYK wins long-term coal freight contract with Vietnam-based power plant

NYK has a new strategy of seeking to control exposure to volatile market conditions by maintaining and expanding long-term dry bulk freight contracts

Asia Pacific Dry Bulk

Oldendorff says bulk carrier disabled in Singapore Strait

The capesize vessel was en route to Qingdao from Guaiba Island terminal in Brazil when the incident took place and is understood to be fully loaded with iron ore

Asia Pacific Oldendorff

Capesizes experiencing ‘fragile spike’

Brazilian iron ore volumes, while recovering, are still below last year's levels, according to BIMCO

Dry Bulk Capes

BDI continues upward momentum

The increase in rates could spur interest among owners to lock in gains by chartering their capes and panamaxes for longer periods of time, said one broker

China Dry Bulk

Bocomm Leasing behind VLOC brace at Yangzijiang

South Korea’s Kmarin is said to be the shipmanager of the VLOCs backed by Vale’s COAs

Asia Pacific Shipbuilding
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Dry Bulk: Handies

Latest From Handies

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

Pioneer Marine remains profitable despite weak rates

Pioneer Marine boasts a $3.7m profit for the first six months of the year

International Dry Bulk

Pacific Basin chief bullish on market prospects for the second half of the year

The company is preparing for the 2020 regulations by using compliant fuels in its handysize fleet in combination with installing scrubbers in supramaxes

Hong Kong Dry Bulk

Much lower iron ore trade growth to claim capesize earnings potential

London-based consultancy expects iron ore trade growth to sink to 0.1% in 2019 from expectations of 4.6% before the Brazilian dam disaster

International Dry Bulk
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Dry Bulk: Panamax

Latest From Panamax

Deadly pig disease to bog down soyabean trades

The fall in volumes from the US and Brazil to China has led to an 8.5% drop from last year in the tonne-mile demand generated by the two dominant soyabean exporters, BIMCO noted

China Dry Bulk

CSSC Shipping seals four ice class post-panamax bulker deal with Pangaea

The new vessels will be used in support of Pangaea subsidiary Nordic Bulk Carriers’ 10-year contract with Baffinland to utilise its ice class fleet, a deal signed in May this year

China Dry Bulk

NYK wins long-term coal freight contract with Vietnam-based power plant

NYK has a new strategy of seeking to control exposure to volatile market conditions by maintaining and expanding long-term dry bulk freight contracts

Asia Pacific Dry Bulk

BDI continues upward momentum

The increase in rates could spur interest among owners to lock in gains by chartering their capes and panamaxes for longer periods of time, said one broker

China Dry Bulk

BDI bounces towards new highs

Capesize segment bustles on iron ore trade, while panamaxes are enjoying their run mostly from split stems from the capesize market

International Dry Bulk

Coal still finds home in China

Chinese coal imports on panamaxes have been especially strong in the second quarter into July, benefiting in particular from cape splits
China Dry Bulk
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Dry Bulk: Ultra & Supras

Latest From Ultra and supras

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

Tomini Shipping aims to grow dry bulk fleet with three ultramax newbuildings

Tomini has a young fleet of ships aged about three years old, and the average age of the fleet is expected to be less than two years by end-2019, the chief executive said

Dry Bulk Ultra and supras

Indonesia’s nickel ore export ban to hit supramaxes

The recent ban could mean the market will lose 2m tonnes a month of supramax cargo

Indonesia Dry Bulk

Indonesian nickel ore-carrying supramax feared lost with 25 on board

There have been nine casualties on bulkers over 10,000 dwt due to liquefaction from 2009 to 2018
Asia Pacific Dry Bulk

Beijing places additional 5% tariffs on copper and aluminium scrap shipments

As China has already switched its procurement away from the US, the nation is increasingly looking towards Malaysia, Taiwan and Japan to source the scrap materials

Asia Pacific Dry Bulk

Thoresen Thai posts lower second-quarter profit

The company expects the Baltic Dry Index to continue its upward trend for the remaining quarters of the year

Asia Pacific Dry Bulk
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Tankers & Gas: LNG

Latest From LNG

Pakistan may have called off long-term LNG tender

Spot prices in Asia have failed to break the price point required to support long-term offtake arrangements this year and this has not lent support to the now-aborted Pakistan LNG tender

Tankers and Gas Energy

Total expands Adani venture to supply LNG in India

Total and Adani will also establish a joint venture to market LNG in India and Bangladesh

India Tankers and Gas

Petronas completes third LNG break-bulk STS

Demand for smaller LNG parcels has been driven by discharge port constraints in China and changing requirements from other Asian buyers

Malaysia Tankers and Gas

South Korean group eyes bid to operate Qatar LNG carriers

Qatar Petroleum is expected to put up shipping contracts for at least 40 LNG carriers by the end of the year for its North Field Expansion project

Asia Pacific Middle East and Africa

Supply tightness prompts upgrade on forecast LNG shipping rates

A sharp contango is developing and shipping players are now motivated to move ships onto the water as quickly as possible, says Platts Analytics

International Tankers and Gas

LNG oversupply forcing floating storage, says Poten

In the short term, a contango market is supporting shipments, while in the long term, demand growth is dominated by South and Southeast Asia

Tankers and Gas LNG
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Tankers & Gas: LPG

Latest From LPG

BW Group sells BW LPG stake for $45m

Parent company sells a 5% stake in BW LPG but still controls about 42%

BW firms LPG

The Lloyd’s List Podcast: Everything you always wanted to know about LPG (but were afraid to ask)

This week we’re taking a deep dive into the too often overlooked LPG sector with Epic Gas chief executive Charles Maltby. While the headlines have favoured their certainly cooler, arguably sexier cousins in LNG, we think it’s time everyone started paying attention to the cheaper, more agile and profitable pressurised market

International Lloyd's List The Shipping Podcast

Saudi drone attack seen boosting tanker earnings

With no expected increase in Saudi exports in the fourth quarter, Asian refiners are seen increasing crude imports mainly from the Atlantic Basin

International Tankers and Gas

VLGC rates firm up amid Saudi supply worries

A number of shipments have been cancelled and many have deferred loadings as Saudi Arabia announced acceptances later than expected, on Wednesday, a broker said

LPG Saudi Arabia

Petredec orders up to four ethylene carriers

Owner orders two 22,000 cu m vessels from Jiangnan Shipyard with options for another two newbuilds

LPG Shipbuilding

BW LPG sees more balanced markets as it returns to black

In the short term, the Oslo-listed owner expected continued high US LPG exports to support the strong rates

Tankers and Gas LPG
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Tankers & Gas: Products

Latest From Products

Dirty market rates lure LR2 owners

Asian dirty aframax rates have also surged recently, tempting LR owners to switch to dirty cargoes

Tankers and Gas Freight rates

Scorpio Tankers buys 19 product tankers from Trafigura

Trafigura buys $135m stake in Scorpio Tankers and offloads $668m loan on the vessels

International Scorpio Tankers

Boutique finance firm FDX Offshore buys out Womar

Chief executive officer Hans van der Zijde alluded to the fact that the move was partially driven by the sale of its partner BW Group’s chemical tanker fleet earlier this year

International Tankers and Gas

Hafnia bets on spot market as rates soar

Demand for product tankers will improve in the final quarter of the year as IMO 2020 regulations set in, chief executive Mikeal Skov says

Tankers and Gas Freight rates

Saudi drone attack seen boosting tanker earnings

With no expected increase in Saudi exports in the fourth quarter, Asian refiners are seen increasing crude imports mainly from the Atlantic Basin

International Tankers and Gas

New maritime fund on investment trail

Private equity outfit Dee4 Capital Partners has set itself the target of creating a relatively small fund size, not exceeding $100m, and deploying the capital raised within a two-year investment period

Finance Ship operations
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Tankers & Gas: Suez & Aframax

Latest From Suez and Aframax

Okeanis buys two suezmax newbuilds from Kyklades

Okeanis will spend almost $130m to buy the two scrubber-fitted vessels from its chief executive’s private company

Suez and Aframax Finance

Sovcomflot cautiously optimistic for the second half of 2019

Chief financial officer Nikolay Kolesnikov said that the company does not have plans to retrofit existing vessels with new engines, so the existing fleet will switch to burning compliant low sulphur fuel come 2020

Russian Federation Sovcomflot

Knot seals 15-year shuttle tanker contract with Total

With this latest deal, the Knot Group will have 32 shuttle tankers in operation or on order

South America Tankers and Gas

Okeanis eyes boost to winter tanker market from sulphur cap

The Oslo-listed tanker owner believes the necessary criteria are in place in the backdrop to enhance the VLCC recovery in the markets

VLCC Suez and Aframax

Aframax earnings under pressure as North Sea and Baltic crude exports drop

Refinery closures, pipeline problems, unscheduled maintenance and unplanned outages at oil fields have all lessened demand for aframaxes

Europe Tankers and Gas

Demolition rates hit lowest point for nearly two years

Payment for dirty tankers per long ton light displacement (LDT) in the Karachi to Chittagong area slumped to between $388.75 and $402.25 for the week ending August 2, the lowest since November 20, 2017, according to Baltic Exchange data

Asia Pacific Ship Recycling
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Tankers & Gas: VLCC

Latest From VLCC

Alafouzos family tightens grip on Okeanis Eco Tankers

The family has boosted its majority stake in the Oslo-listed firm just as QVT Financial becomes its second-largest shareholder

Energy Finance

Dirty market rates lure LR2 owners

Asian dirty aframax rates have also surged recently, tempting LR owners to switch to dirty cargoes

Tankers and Gas Freight rates

VLCC spot charter breaks $300,000 level on market disruption

Euronav and Frontline are among those raking in huge charter contracts as sanctions and security issues hit market

Tankers and Gas VLCC

VLCC earnings hit $100,000 as sanctions bite

With heightened geopolitical risk and improved market sentiments, brokers expect the market to remain strong throughout the winter and into 2020

Tankers and Gas VLCC

Sanctions spark short-term bullishness for VLCCs

Very large crude carriers could benefit from replacement demand, although the recent spike in freight rates may melt away in the longer term

International Tankers and Gas

Outlook seen improving for bulkers and tankers

There should be a strategy to manage both long term and short term volatility, chief financial officer of Golden Ocean Per Heiberg said
Dry Bulk Tankers and Gas
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