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Excluding intra-EU trade, the European Union’s average monthly clean oil product imports amounted to 10.0 million tonnes in 2019 but declined to 9.3 million tonnes in 2020 and 2021. Due to the high import volumes in July to October, the 2022 year-to-date average monthly volumes have reached 10.3 million tonnes, exceeding 2019 volumes.
The freight market for VLCCs was surprisingly strong in November, building on top of a rally starting back in September from very sluggish levels. There is a significant influence from seasonality behind this as Asia, and the northern hemisphere in general, prepare for Winter.
Capesize: Throughout the week, the cape market has displayed remarkable resilience and positivity, defying challenges such as holidays in the Far East.
Capesize: Results from Rio Tinto and BHP disappointed this week, but there was hope that with China reopening it would lead to more cargo.
Capesize: The average of the Capesize timecharter routes climbed when the week first began, but soon dropped from over $10,000 threshold to $6,529 on Friday.
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Capesize: The Capesize market rebounded briefly this week to provide some hope of a revival in rates after its recent October fall from heights. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
Capesize: The Capesize market continued its assertive rally this past week reaching new highs in dramatic fashion. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
The following reports issued by the US Office of Naval Intelligence are provided to keep members informed of any recent security incidents.
The following reports issued by the US Office of Naval Intelligence are provided to keep members informed of any recent security incidents.
