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Since the European Union sanctioned Russian oil exports in 2022, crude oil and dirty and clean petroleum products (CPP) have found new buyers. India and China have taken most of the crude oil and dirty products while Türkiye and Brazil have emerged as the main buyers of CPP. Year-to-date, Brazil’s import of Russian CPP has increased by 135% year-on-year.
Strong demolition activity dampens fleet growth, while stable US demand supports optimism as we head into the “peak-season”
Rising Covid-19 cases across the sub-continent have led to further lockdowns in a number of countries, especially as certain areas (as seen recently with much of Europe) suffer from, what now seems to be a third wave of the virus, despite the increasingly positive impacts being reported from the rollout of the various vaccines globally, in addition to the lockdowns. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
If you missed the “SHIPTERM” webinar on 27 January don’t worry, the recording of the webinar is now available for viewing.
Ice class frozen out: This week, much of Europe has been blanketed in snow as cold weather has spread as far south as the Mediterranean coast. With temperatures across the continent as low as -30C (-22F), now might be the perfect opportunity to talk about the ice class fleet. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
The positive stories continue to show themselves in the container shipping segment, with freight rates holding up well and demolition activity staying strong. In the light of the slowly developing demand side, it’s very positive that the industry deals with the supply side issues to improve the fundamentals.
PANAMAX: A few more Atlantic trades emerged after a dull week, but generally it was a quiet end to the week with December festivities beginning in earnest in Europe. 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.
Following further bad news concerning the rapid and continued spread of Covid-19 in the Western world, leading to yet more lockdowns across Europe and other areas around the world, a momentous week lies ahead with the upcoming U.S. Presidential Election and its potential repercussions that could also be felt the world over. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
2016 continues where 2015 ended, with all eyes on China. This is mainly because of uncertainty surrounding the development of the world’s second-largest economy. When the first day of the Shanghai Stock Exchange of 2016 closed prematurely, the trading results echoed around the world. It warned us that we are in for a rough ride in 2016.
