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SHIPPING NUMBER OF THE WEEK
In the first quarter of 2024, global iron ore shipments rose 3.8% y/y on expectation of strong Chinese steel production which, however, failed to materialise. Iron ore supply has grown faster than Chinese demand which could lead to weaker shipments ahead.
September 2021
China’s 49.2 manufacturing PMI indicates falling activity in August
The 49.2 composite reading of the Caixin/Markit China manufacturing Purchasing Managers Index (PMI) in August marks the first contraction in activity since April 2020 when China was recovering from its initial COVID-19 outbreak.
August 2021
China's 2021 crude oil imports down 5.7% as strong start loses steam
Chinese crude oil imports fell year-on-year in June and July, ending a streak of five months of accumulated year-on-year growth.
Chinese iron ore imports fall to 14-month low in July
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020.
Only 3 VLCCs sold for demolition in 2021 as secondhand prices tempt
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition.
US manufacturing of durable goods hits USD 270.5 bln record high
US manufacturing of durable goods, which has been lagging the wider recovery of the US economy, hit an all-time high in June when USD 270.5 billion worth of goods was produced.
July 2021
Secondhand container ship deals jump over 100% in H1 2021
During the first half of 2021, a total of 277 container ships have changed hands, a 103.7% jump from 136 ships bought and sold in the same period of 2020 (source: Vessels Value).
June 2021
China processes all-time high 60.5m tonnes of crude oil in May
Chinese refinery crude oil throughput has reached its highest level ever, with total processed volumes up 12.0% in the first five months of this year compared to 2020, and up 10.9% from the same period in 2019.
San Pedro Bay ports struggle to keep up as record-breaking 1.9m TEU handled in May
The ports of Los Angeles and Long Beach continue their record-breaking start to the year, exceeding pre-pandemic records again and again.
…and the winner of EURO 2020 is…
If EURO2020 was to be decided by shipping-related factors, who would come out on top?
Nine months US corn exports already exceeding last season’s total by 5.9m tonnes
Many agricultural trades have been exceptionally strong in 2021 and several grain types have experienced record high exports. US corn exports are no exception.
