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COSCO chair receives BIMCO President’s award

04 March 2019

Captain Xu Lirong, Chairman of COSCO Shipping, received the President’s Award at the BIMCO Conference in Shanghai for his excellent life-long service to the shipping industry. China Merchants Energy Shipping received the award for Best Shipping Company of Greater China Area 2019.

Demolition report dated 14 May 2021

17 May 2021

This week, despite the rapidly escalating Covid-19 crisis across much of Asia, steel plate prices continue their upward trajectory once again for the second running week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Tanker market report 1 March 2024

04 March 2024

The Panama Canal stands as one of the world’s most vital intercontinental waterways, playing an important role in facilitating global trade, particularly along the routes connecting the Americas and Asia. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.

Dry cargo market report dated 10 May 2024

14 May 2024

Capesize: Following the UK Bank holiday, Tuesday marked a strong start for the Capesize market with rising rates in both the Pacific and Atlantic regions, driven by increased miner activity and healthy cargo volumes particularly in the Pacific.

Dry cargo market report dated 22 September 2023

25 September 2023

Capesize: The Pacific market started with a positive outlook, maintaining healthy cargo volumes driven by substantial coal shipments from East Coast Australia to the Far East. Rates initially increased, but as the week progressed, a notable shift occurred. Owners began contemplating ballasting towards the Atlantic, creating additional pressure in the Pacific market.

Dry cargo market report dated 28 January 2022

31 January 2022

Capesize: The Capesize market looked to have found a bottom by week’s close as rates descended throughout before bouncing back a little at the end. The 5TC weighted average opened the week at $7,390, descended to a low of $5,826 before settling at week’s end to $8,918. 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.

Container Shipping - Slow demand and the absence of resumed idling of vessels has proved to be a heavy burden in the battle for rate restoration

23 June 2011

In the past three months, time charter rates have hovered around the same levels, providing owners with a steady market despite the downward shift in spot freight rates. Summer demand should determine the next turning point, with initial indicators suggesting weaker East/West volumes, but stronger North/South trade. Moreover, increased flows on the Middle East and intra-Asia trades should drive rates for small containerships higher, as idle capacity is now removed and orderbook in this segment is low.