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Meet BIMCO’s Chief Shipping Analyst at iShipping Copenhagen 2017

Record high crude oil tanker deliveries adds instant freight rate pressure

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February 2017

Meet BIMCO’s Chief Shipping Analyst at iShipping Copenhagen 2017

BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking at the Digital Ship iShipping Conference Copenhagen taking place on 1-2 March 2017 at the Scandic Hotel in Copenhagen, Denmark.

Record high crude oil tanker deliveries adds instant freight rate pressure

January 2017 already accounts for 22% of the crude oil tankers previous year’s total deliveries, due to tremendous VLCC delivery growth.

January 2017

Dry Bulk Shipping: Q4 provided optimism, Q1 will make sure we don’t get carried away

Iron ore provides 30% of the demand for the dry bulk market and, during 2016, its related tonne-mile demand went up by 6%. This was the key factor behind the overall demand side growth of 2.2%.

Tanker shipping: A strong season lifts crude oil tankers before it is expected to hit the fan in 2017

From a crude oil market perspective, 2016 can be summed up as “eventful”. In January, the international sanctions on Iran were lifted, resulting in a very swift increase of their oil production capacities and subsequent re-entry into the global oil export market.

Container shipping: Good prospects for market improvement if focus is kept on the supply side

As the lowest level of newbuild containership deliveries since 2004 was combined with record breaking scrapping levels, net inflow of capacity amounted to just 246,000 TEU – a growth rate of 1.2% - probably the lowest ever.

Macro economics: 2016 brings lowest GDP growth rate since financial crisis began

It will not be a surprise if we see another downward revision of GDP growth in 2017...

Container shipping lines earned 42 USD less per TEU in 2016

The container shipping lines received an average rate 7% (42 USD) lower in 2016 than in 2015, if they operated in the spot market on all Shanghai Containerized Freight Index (SCFI) trade routes. This has primarily been due to the devastating low rates received in the first half of 2016, as the average rate received in H2 2016 was 22% higher than the rate received in H2 2015. 

The shipping market in 2016 and looking forward

The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach.

December 2016

BIMCO Chief Shipping Analyst to speak at the INTERCEM Shipping Forum 2017 – BIMCO member discount available

BIMCO’s Chief Shipping Analyst Peter Sand will be speaking at the INTERCEM Shipping Forum, 2017 in Marseille, France on 23-24 January 2017. It is the 6th dedicated Shipping Forum targeted at the global cement and shipping community.

Fleet growth squeezes crude oil tanker market

This analysis explains the recent history, updates you on the current state and displays future changes for crude oil tankers.