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European containerised imports look likely to be stuck with demand growth of no more than 2% for years to come. That means the long-hauls into northern and southern Europe, where Ultra Large Containerships are perfectly suited to reap the benefits of economies of scale, will suffer unless cascading is accelerated.
The International Monetary Fund (IMF) has revised down its predictions for global growth in 2019 and 2020. It forecasts growth to be 3.5% in 2019 and 3.6% in 2020. This means a dampening of global growth over the next two years, as growth in 2018 is estimated to be 3.7% The slowdown will affect both advanced and emerging economies.
The continued severity of the tanker market conditions has made owners dig deep into the oversupply of capacity. Still BIMCO expects the tanker fleet to keep growing. A short-term rate recovery is not expected, as it is ‘maintenance season’ for the global refining industry in September and October.
BIMCO will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.
The effects of rising barriers to trade, capital flowing out of emerging market economies, and the elevated geopolitical risk are now clear to everyone.
For the seventh month in a row total US crude oil exports excluding china hit a new all-time high reaching 7.9 million tonnes in September.
Total US crude exports to all destinations other than China hit a new all-time high in August at 6.96 million tonnes.
HANDYSIZE: Continuing the positive trend from September, the BHSI further climbed despite the holidays in Asia and German today. The Baltic Exchange daily fixture report features daily updates on the Baltic exchange indexes, timecharters, periods, voyage fixtures and is listed by ship name, size, delivery place and freight rate. The weekly dry bulk market report by the Baltic Exchange contains news impacting the following segments; capesize, panamax, supramax and handysize.
On Monday, BIMCO hosted an Advisory Panel in Singapore with the aim to continue to strengthen the shipping voice of members across Asia and establish a new platform for dialogue and involvement.
Seasonal measures introduced by Australia, New Zealand and Chile to combat brown marmorated stink bug risk.
