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Read the latest digest of maritime security incidents and the weather forecast for piracy threat areas for the week to come.
The European oil demand outlook is back in focus ahead of this winter, as continued macroeconomic developments cast a shadow over the region’s energy market. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Normalisation of ship routings could cool dry bulk market
Following a very welcome period of rate hikes due to the tough Winter in the northern hemisphere, the Spring is here now and the product tanker markets
In 2016 the dry bulk shipping sector experienced some of the worst market conditions in history. In response, BIMCO produced a unique analysis model, named "Road to Recovery" to highlight actions needed for the struggling shipping markets to recover - and to track their progress.
Capesize: There was positive sentiment throughout the dry freight sector this past week, including Capesize, as traders returned from Lunar New Year holidays. Activity was clearly seen to be elevated as the Capesize 5TC rose +5095 over the week to close on a mild Friday at $15,397. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
Following the ultimate Sales & Purchase peak in 2007 where vessels valued at USD 40 billion were traded, the last 4 months of 2008 and most of 2009 were comparable sinkholes. Now the secondhand markets are on the rise again and on course to hit a total sales value of USD 20 billion for the full year comprising the three main segments, dry bulkers, tankers and container ships. This represent a rise in sales value equal to almost 60% y-o-y, up from USD 12.7 billion in 2009. With only 10% more ships traded – the secondhand value of the fleets have considerably surged.
Read the latest digest of maritime security incidents and the weather forecast for piracy threat areas for the week to come.
Read the latest digest of maritime security incidents and the weather forecast for piracy threat areas for the week to come.
