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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

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

Idle numbers keep box charter market in check

The acid test for the charter market will be its ability to absorb some of the idle ships holding back rate development

International Containers
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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

Dry bulk market to enter a new era of sustainability says BHP

BHP estimates IMO 2020 to add between $1–$2 a tonne to Western Australia–China freight and $3–$4per tonne to Brazil–China

Australia 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

Owners are their own worst enemies, says Precious chief

Precious Shipping managing director Khalid Hashim claims that if recycling does not accelerate then the Baltic Dry Index will continue to fluctuate sharply, solely dependent on what the demand side does

Thailand Dry Bulk

Capesize bulker revenues climb to 14-year high

The bullish sentiment in the capesize sector has reverberated to smaller vessel segments

International Dry Bulk

Capesize rallies on tonnage tightness in the Atlantic

China is drawing down iron ore inventories at a record pace to levels last seen around 2017, according to analysts

Dry Bulk Asia Pacific
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Dry Bulk: Handies

Latest From Handies

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

Welcome to the ‘new’ seasonality of the BDI

Hashim forecasts healthy supply-demand fundamentals in the dry bulk shipping market but warns that the recovery could be characterised by extreme volatility

Asia Pacific Thailand

Wheat trade promises bulk carrier tonne-mile boost

As Australia suffers a significant hit to its wheat exports, Asian wheat importers have consolidated their dominance over Argentine and Russian imports, benefiting tonne-mile demand

Asia Pacific South America

New rules will keep a check on shipping supply growth

The new regulations will penalise poor performers and older ships, while benefiting stronger companies with high-quality ships, says Pacific Basin chief executive Mats Berglund

Hong Kong International
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Dry Bulk: Panamax

Latest From Panamax

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

Panamax bulkers benefit from strong start to South American grains season

Ultramax bulkers are also expected to share some of the gains from the increased grains flows in the coming months

Dry Bulk Panamax

Dry bulk owners face an uncertain coal market

Colombian coal market to provide short-term support to capesize market, while Russian shipments to China to provide long-term aid to the embattled handysize and supramax segments

Asia Pacific Australia

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

China’s soyabeans commitment offers relief to dry bulk sector

An additional 10m tonnes in exports would support the drawdown of the massive US soyabean stocks that have depressed prices for months, according to Arctic Securities

Dry Bulk Capes
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Dry Bulk: Ultra & Supras

Latest From Ultra and supras

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

Samudera sells two bulkers for $20.3m

Samudera will pump in some of the funds from the sale to fund a potential investment in a company that provides shipping services on domestic Indonesian routes

Asia Pacific 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

Dry bulk owners face an uncertain coal market

Colombian coal market to provide short-term support to capesize market, while Russian shipments to China to provide long-term aid to the embattled handysize and supramax segments

Asia Pacific Australia

Pacific Basin confident of supramax and handysize market in the long term

Hong Kong-listed dry bulk owner says IMO 2020 will lead to a contraction in supply and potentially more scrapping

Hong Kong Dry Bulk

New blow to minor bulk owners as canola feud boils over

If this is indeed the start of a new trade war between Beijing and Ottawa, this could have significant repercussions on oilseed and grain trade, shipbroker Banchero Costa warns

China Canada
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Tankers & Gas: LNG

Latest From LNG

Venture Global sanctions 10m tonnes per year US LNG project

The LNG developer aims to bring Calcasieu Pass, the first of three projects it is pursuing along the US Gulf coast, online in 2022

US States Tankers and Gas

LNG market poised for a positive end to 2019

Flex LNG expects market to be tight going into 2020, propping up shipping demand

LNG Ship operations

MISC benefits from improved tanker earnings as first-half profit jumps 44%

Better supply conditions are expected in the second half of the year as vessels are taken out of service for scrubber retrofits and rising US exports boost tonne-mile demand

Asia Pacific Tankers and Gas

Golar and Exmar contest Leviathan FLNG project

At stake is a term charter from the Noble-operated Leviathan project for the supply of Israel’s first FLNG

Israel Tankers and Gas

Sembmarine heads for LNG carrier repair record

The yard group is on track to redeliver 46 LNG tankers in 2019, up from 41 during the previous year

Singapore Ship repair

SGX will discontinue LNG pricing index

SGX, which also owns the Baltic Exchange, has created several LNG freight shipping indices

Asia Pacific Singapore
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Tankers & Gas: LPG

Latest From LPG

StealthGas acquires two LPG ships

The acquisition of the vessels, one a newbuilding and the other a 2007-built, 38,000 cu m fully refrigerated vessel, marks StealthGas’ entry into new vessel segments

International Tankers and Gas

VLGC market has adapted to the Sino-US trade spat, says Avance Gas

Middle East LPG exports in the second quarter came up to 8m tonnes, up by 200,000 tonnes compared to the first quarter of 2019

International Tankers and Gas

Pirates shoot at LPG carrier off Nigeria

The crew on the Wisdom Marine vessel retreated to the citadel and the master took evasive action

Middle East and Africa Piracy and Security

LPG sector needs newbuild restraint, Epic Gas boss warns

Charles Maltby is positive LPG demand and production will boost the ailing sector's earnings

LPG Ship operations

Epic Gas reduces losses in second quarter on improved markets

Increasing demand in countries such as Bangladesh, Sri Lanka, the Philippines, Indonesia and Morocco is driving growth in the pressurised ship trade, the company said

International Tankers and Gas

Singapore releases Kunlun LPG carriers

One of the two liquefied petroleum gas tankers has left Singaporean waters and is headed for China, Lloyd’s List Intelligence vessel-tracking data shows

Singapore Tankers and Gas
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Tankers & Gas: Products

Latest From Products

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

Hafnia posts profit after BW merger

In its first quarter as a merged firm, Hafnia grows fleet and sees revenues spike

BW firms Products

Eastern Pacific confirms order for eight product tankers

The company is optimistic about the product sector and the long range two newbuildings with exhaust gas cleaning systems installed will put them in a good position to capitalise on the market

Asia Pacific Tankers and Gas

IMO 2020 brings cheer to product tanker market

Basic supply-demand balance has reached a tipping point in the product tanker market and IM0 2020 is just the icing on the cake, or perhaps several layers of icing on the cake, Stifel says

International Tankers and Gas

Tsakos Energy Navigation agrees product tanker charters

Double 36-month charter with anonymous oil major will generate a minimum of $33m in gross revenues

Energy Finance

Hafnia Tankers agrees merger with BW Tankers

Hafnia shareholders have to approve a merger plan that would give them common shares of par value $0.01 for each BW Tankers share

BW firms Products
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Tankers & Gas: Suez & Aframax

Latest From Suez and Aframax

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

Enesel behind suezmax brace at Samsung

Orders bring Greek group's tanker order book to nine vessels

International Tankers and Gas

Rising supply of crude and ships seen outpacing crude demand growth

Decline in cargoes for export sees supply of tankers often outpace demand in the Middle East Gulf

International Tankers and Gas

Unipec in ‘league of its own’ to lead tanker charters

It is the first year that Unipec has ranked in the top 10 for the suezmax and aframax classes

Tankers and Gas Market Insight
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Tankers & Gas: VLCC

Latest From VLCC

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

Chinese crude imports up 8.8% in the first half of 2019

Saudi Arabia became China’s largest crude oil supplier in the first half of 2019, with 37.8m tonnes, followed by Russia

China 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

Rising supply of crude and ships seen outpacing crude demand growth

Decline in cargoes for export sees supply of tankers often outpace demand in the Middle East Gulf

International Tankers and Gas

Gibraltar says seized tanker was fully loaded with crude oil

Gibraltar government claims Grace 1 was carrying crude oil at full capacity after lab testing
Gibraltar VLCC

Iran says seizure of oil tanker was ‘threatening act’

Iran’s Defence Minister Amir Hatami condemned the seizure of the tanker during a speech broadcast live on state television, while Spain questions what motivated the raid that closely coincides with moves by EU countries to help Iran circumvent US sanctions by using an EU-backed trading system

Middle East and Africa Iran
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