16 October 2012
The demand situation in tanker shipping is anything but formidable. We see a mixed picture from one trading area to the next and from crude oil to products.
11 September 2012
We have been heard a lot of debate and speculation regarding the commercial viability and attractiveness of ECO ships and fears of a two tier market reflecting ship energy efficiency. As a natural consequence of the obvious uncertainties and in an effort to address these, BIMCO has undertaken a review, the result of which is outlined below.
16 August 2012
Overall annual oil demand growth in 2012 is now expected to come in at 0.9% by the IEA (+800,000 barrels per day), close to last year’s 0.8%, which was a 10-year low (excluding the contracting years of 2008/2009). The rise is exclusively originating from non-OECD countries. The outlook was modestly curtailed by early July on the back of the weaker global economic situation. This translates into a rather slim fundamental support to the tanker segment, but fortunately tanker shipping is so much more than overall oil demand.
15 August 2012
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.
13 June 2012
The dry bulk market is under immense pressure, as the retreating weight of China as the driver of the market is extensively felt. At a time when supply growth simply breaks new mind-blowing delivery records, the demand situation is pitching in a bit too. Currently, there are reports of Chinese customers in the steel industry that are refusing to honour their contract as prices drop, and stock piles are fuller than normal at a time when steel mills take their foot off the throttle following a red-hot production period in recent months.
11 April 2012
Towards the end of 2011, we got the first indication that liner companies were winning “the pricing battle” against shippers on the level of freight rates on the main lanes from Far East to Europe and the Mediterranean.
13 December 2011
Overall, it’s noticeable that record numbers of fixtures and demand for tonnage only produce a short-lived spike at rather low altitudes – making little impact on stretched owners’ financial accounts. Ship owners without a solid cash balance and a strong, or at least sustainable, cash flow will find it increasing difficult to continue in this business at the present level and volatility.
18 August 2011
The extraordinarily challenging conditions in the container shipping market are now clear and present to all. The overcapacity on the main trading lanes has prompted cascading to a larger extent than a normal market development would do, adding pressure on secondary routes.
16 August 2011
Projected oil demand continues to slide, with growth entirely driven by non-OECD countries. OECD-demand is expected to contract by 0.4 million barrels per day (mb/d) this year and 0.1 mb/d in 2012. The 2012 forecast by IEA leaves little room for optimism, as the current estimate is as low as 1.7% (1.5 mb/d)
14 April 2011
Container rates have been sliding on all the major trading lanes since July 2010, with the exception of a small hiccough round the turn of the year