Supply and demand trending off balance
18 December 2019One of the most worrying trends that has developed recently - which will affect shipping demand in the years to come - is the falling trade-to-GDP ratio.
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One of the most worrying trends that has developed recently - which will affect shipping demand in the years to come - is the falling trade-to-GDP ratio.
Global growth in container volumes has picked up slightly in the second quarter of the year, with growth in the first seven months reaching 1.2%, compared to the just 0.8% in the first quarter.
BIMCO’s Chief Shipping Analyst Peter Sand will deliver the closing keynote speech, “What is happening in the shipping markets” at Digital Ship’s 4th Annual Maritime CIO Forum in Rotterdam on 26 September 2017, at the Hilton hotel in Rotterdam, The Netherlands.
BIMCO’s President Anastasios Papagiannopoulos will moderate the “Smart Shipping” panel discussion, scheduled for 10 October at 11:45. The panel will discuss novel ship design, cyber security and digitalisation – all key issues with a specific bearing on the future.
BIMCO’s Chief Shipping Analyst Peter Sand will moderate the “Dry Bulk Market Outlook: Sustaining Cautious Optimism for Calmer Waters” panel discussion, scheduled for 23 November at 16:00-17:30. Peter Sand will be joined by Burak Cetinok, Head of Research at Arrow Shipbroking Group and Angad Banga, Chief Operating Officer at The Caravel Group.
Brazilian crude oil exports hit a record high in December 2019 with a total 8.7 million tonnes of crude oil exported, as China continues to turn to Brazil for crude.
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance with the IMO 2020 Sulphur Cap (IMO2020).
High fleet growth in 2019 and the coronavirus in China are clouding the outlook for 2020, despite the expected lower fleet growth.
While the Capesize segment has been massively impacted by the coronavirus, the smaller dry bulk segments are starting to recover towards profitable territory, partly on the back of seasonally higher grain exports from South America.
Low demand growth will continue into 2020, with carriers struggling to increase freight rates enough to cover the additional costs of the IMO 2020 sulphur cap compliance. Fleet growth is lower then last year, but still too high compared to demand growth.