The accumulation of disruption and supply chain shocks are transforming global trade as governments and businesses look to exchange efficiency for security
Russia’s war on Ukraine has upended oil, gas and agricultural markets, triggered record prices and placed energy security at the top of political agendas as inflationary pressures and an economic downturn signal a global recession
While ordering activity for containerships may have reached its peak, the appetite for new liquefied natural gas carriers shows no sign of slowing down. Furthermore, orders for bulk carriers have started to pick up, which could be followed by an upturn in new tanker contracting
The International Group is about to shrink from 13 members to 12, with mixed predictions on the impact on shipowners; but can another renewal round characterised by stiff rate hikes be avoided?
Sanctions on Russia amid self-sanctioning by Western oil traders have already upended oil markets; incoming bans on crude and refined products cargoes, shipping and marine insurance and reinsurance will further disrupt global tanker trade flows
Not every vessel size will benefit from a significant recalibration of oil and refined product trades at a time of extreme geopolitical and global economic uncertainty
Globally, the LPG trade is expected to rise by 3.9% in 2022 to 116.9m tonnes
Box shipping will likely have its most profitable year on record in 2022, but with demand easing and a flood of new tonnage coming into service, the peak may have already passed
Slowing fleet growth is expected to support dry bulk rates, even as demand concerns emerge due to inflationary pressures globally
Regulation watchers are eyeing the January 1, 2023 deadline when the IMO’s Carbon Intensity Indicator rule kicks in; the regulation could end up rewarding dirtier ships, and the market impact is hard to predict
With many shipowners making more money than they can remember, and banks willing to cut margins to keep the business, it’s a buyer’s market and likely to remain so while good markets last
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