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Capesize: This week the market saw a slow start, with a healthy supply of tonnage in the Pacific and limited enquiry, particularly from East Coast Australia to China.
SUPRAMAX: Brokers said there was more activity from the east Mediterranean and east coast South America but so far little came to light. 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.
The highlight of this week’s trading has been an impressive spike in spot VLCC rates, with daily TCE earnings up to their highest level since April last year. The Middle East and West African markets have been supported by an extended period of healthy enquiry from Asian buyers, although weather delays in the Far East have also helped. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’ side and leaving carriers struggling to keep up all the while making record profits.
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’ side and leaving carriers struggling to keep up all the while making record profits.
The revision of BIMCO’s top-selling contract, SUPPLYTIME 2005, has now reached a stage where it is appropriate to consult with the wider industry about the changes made to the contract so far.
Strong demolition activity dampens fleet growth, while stable US demand supports optimism as we head into the “peak-season”
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand.
