Dry cargo market report dated 6 October 2023
09 October 2023Capesize: Throughout the week, the cape market has displayed remarkable resilience and positivity, defying challenges such as holidays in the Far East.
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Capesize: Throughout the week, the cape market has displayed remarkable resilience and positivity, defying challenges such as holidays in the Far East.
Hopes of a temporary ceasefire between Israel and Hamas, which potentially could help to improve the security situation in the Red Sea have been dashed in recent days, with further attacks reported on commercial vessels and Israel rejecting Hamas’s proposed ceasefire terms. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
The Worldwide Threat to Shipping Report covers 30 days of analysis, reports and information to ensure ships and ship operators are aware of current and emerging security threats. The Weekly Piracy Update Report is a weekly overview of recent security incidents. Both reports are issued by US Office of Naval Intelligence (US ONI).
Despite a partial lifting of sanctions against Venezuela in October last year, the US is now set to reimpose sanctions on the country’s oil industry in April, due to insufficient progress towards holding free and fair presidential elections; a key condition of sustained sanctions relief. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
As Europe steps into spring having survived its first full winter without Russian diesel, the Continents fuel supply is once again disrupted. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Brazilian crude production has been posting strong performance in recent months as the key Latin American producer is expected to see crude output this year increase by 380kbd to 3.5mbd and a further 300kbd in 2024 to reach 3.8mbd. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Capesize: The surge in Capesize rates abruptly flattened off this week as global markets continue to be highly volatile.
In the crude tanker market, we have witnessed a return of spectacular volatility, with spot earnings on several key Suezmax and Aframax trades in the Atlantic Basin briefly spiking close or in some cases even above $100,000/day on a non-scrubber, non eco basis recently. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.