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Market analysis

The vintage converted VLOC's still make economic sense

There are few purely economic incentives to demolish VLOC’s converted from VLCC’s, as they have secured freight rates and employment on long-term time charter contracts a long time ago. There is also no incentive to sell your ship for immediate profit, as the value of a converted VLOC currently in service, is the same in the secondhand market as the demolition market. 

Upbeat crude oil tanker demolition goes against general trend

January struck an upbeat tone for demolition in all sectors, but the overall pace of fleet renewal, via demolition, has slowed down since then.

Dry bulk shipping: as the BDI moves higher, demolition activity weakens

What a rebound. After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates. This brought earnings into profitable levels for a couple of days, as the BDI passed 1,282 on 27 March 2017.

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June 2017

Dry bulk and tanker newbuild contracts 20% higher than 2016

BIMCO expected newbuild activity to pick up, so the recent development is not surprising. It is however not what the industries needs.  As the dry bulk -, crude oil - and oil product tanker shipping sectors are all struggling with very low freight rates, it is important that the recent development in contracting activity reflects a short-term trend.

BIMCO in Bloomberg Intelligence webinar: Container liner industry outlook

BIMCO’s Chief Shipping Analyst Peter Sand will be speaking at the Bloomberg Intelligence (BI) Webinar on 29 June 2017 at 16:00 CEST.

The vintage converted VLOC's still make economic sense

There are few purely economic incentives to demolish VLOC’s converted from VLCC’s, as they have secured freight rates and employment on long-term time charter contracts a long time ago. There is also no incentive to sell your ship for immediate profit, as the value of a converted VLOC currently in service, is the same in the secondhand market as the demolition market. 

May 2017

BIMCO on Bloomberg Intelligence Webinar

BIMCO’s Chief Shipping Analyst Peter Sand, will be speaking at the Bloomberg Intelligence (BI) Webinar on 23 May 2017 at 10:30 (15:30 GMT).

BIMCO presents the latest market analysis in the shipping industry at CrewConnect Europe 2017

Meet BIMCO's Chief Shipping Analyst Peter Sand and BIMCO's Deputy Secretary General Lars Robert Pedersen at CrewConnect Europe 

Upbeat crude oil tanker demolition goes against general trend

January struck an upbeat tone for demolition in all sectors, but the overall pace of fleet renewal, via demolition, has slowed down since then.

April 2017

Dry bulk shipping: as the BDI moves higher, demolition activity weakens

What a rebound. After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates. This brought earnings into profitable levels for a couple of days, as the BDI passed 1,282 on 27 March 2017.

Container shipping: New networks come into focus as the supply side holds the key to improvements

The most recent available data show that demand for the container shipping grew by 2.7% in 2016. With the supply side growing by only 1.3%, this meant that the fundamental market balance improved for the first time since 2011. This development is primarily due to decisive actions by shipowners who sold excess tonnage for demolition.

Tanker shipping: Shipowners have their work cut out handling the supply side in 2017

Oil tankers experienced a tough start to 2017 as freight rates for all crude oil and oil product tankers continued their decline following the brief lift at year-end. For one, VLCCs may not yet have bottomed out. By 7 April 2017, average earnings stood at USD 18,853 per day, down from USD 63,284 per day on 16 December 2016.

Macro economics: Economic indicators have been pointing up in recent months

The recent months’ uptick in global indicators, which implies a strengthening in the global economy, is not sufficient for the patient to be discharged yet. The state of the global economy is still uncertain, despite stronger growth dynamics in advanced economies, and not least in China.