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As adopted at the General Meeting in Athens, May 2019
The trade war has brought increased attention to the soya bean trade between the US and China with 2019 offering conflicting narratives.
April was a disappointing month for the crude oil shipping industry with a dramatic fall in US crude oil exports which caused tonne mile demand to fall disproportionally.
VLCC spot freight rates between the Arabian Gulf and China rose 101% in the days between 13 June 2019 and 20 June 2019, in the aftermath of attacks on two tankers in the Strait of Hormuz.
As weak demand growth is forecasted for the coming quarters, the container shipping industry is set to return to negative margins.
Peter Sand, chief shipping analyst at BIMCO, talks to Alex Younevitch, managing editor for EMEA shipping at S&P Global Platts, about the container market and the challenges that it is facing from the escalating US-China trade war, the upcoming IMO 2020 regulation, and tonnage oversupply.
Peter Sand talks about Iran sanctions and the oil market from CNBC.
February 2016
2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe.
The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions. 2016 has shown no improvements so far and prospects for the rest of the year are not looking promising. With poor earnings across the board the average scrapping age has dropped among all the dry bulk segments.
January 2016
One of the most characteristic developments in 2015 was the declining price of crude oil during the second half of the year. Brent crude oil dropped from USD 57 a barrel (bbl.) on 1 July to hit USD 37 a bbl. on the last trading day in 2015.
Overall, container volumes being moved around the world have grown by an average GDP-to-trade multiplier of just 1.1 since 2010 and we expect this to continue in coming years. With IMF expecting GDP growth of 3.4% in 2016, this translates into container demand of 3.5-4%.
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destinations across the globe; it is too complex to single out whether this is positive or negative for the seaborne dry bulk transport demand.
2016 continues where 2015 ended, with all eyes on China. This is mainly because of uncertainty surrounding the development of the world’s second-largest economy. When the first day of the Shanghai Stock Exchange of 2016 closed prematurely, the trading results echoed around the world. It warned us that we are in for a rough ride in 2016.
2015 never really took off, even though the global economic activity looked stronger earlier in the year. The negative indicators seen at the end of 2014 were not overcome, and we saw a significantly lower level of growth for global GDP in 2015 than in the previous five years. This was primarily due to the struggling emerging markets and developing economies, led by changes in China’s economic focus.
December 2015
International dry bulk shipowners seem only to scrap ships aged 18 years or older. While a couple of Chinese owners have scrapped ships that were even younger than that...
The current newbuilding prices for dry bulk ships has dropped so much, that they are now at the lowest level since 2003. As they have just passed the lows of 2012 heading downwards.
October 2015
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil prices from mid-2014 created strength on both sides.
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