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Like most nations, Indian oil demand has come under considerable pressure in 2020 as covid-19 derailed the country’s continual demand growth. Weekly tanker market report by Gibson Shipbrokers.
Containerships with a collective cargo carrying capacity of 5.3m TEU are now fitted with an exhaust gas cleaning system (scrubber) to remove sulphur oxides (SOx) from the exhaust gasses generated by the combustion processes in marine engines and thereby comply with the IMO 2020 global sulphur regulation which came into force on 1 January 2020.
Low demand growth will continue into 2020, with carriers struggling to increase freight rates enough to cover the additional costs of the IMO 2020 sulphur cap compliance. Fleet growth is lower then last year, but still too high compared to demand growth.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
Peter Sand will offer his view of the most relevant future commercial aspects to the shipping industry in Athens at the Slide2Open Shipping Finance conference on 30 January 2020.
The IMO 2020 global sulphur limit for marine fuel oil has now been in force for over one month. BIMCO, ICS, INTERCARGO and INTERTANKO are calling on fleet- and vessel managers, as well as technical superintendents, to share their insight and experiences with the new IMO 2020 compliant fuels.
The run up to the implementation of the new IMO rules on marine fuels from 1st January 2020 had owners and charterers analysing the various fuelling options. The weekly tanker market report by Gibson Shipbrokers.
The exuberance displayed during the final few weeks of 2019 and the onset of 2020 has showed no signs of abating, with several increasingly impressive sales taking place at ever increasing numbers. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
2020 was always going to create a more complex fuel oil market as trade flows shifted and new grades emerged. The weekly tanker market report by Gibson Shipbrokers.
The shipping number of the week provides members with a brief analysis of relevant developments in the shipping markets.
