Dry cargo market report dated 8 March 2024
12 March 2024Capesize: Throughout the week, the capesize market experienced shifts in sentiment and activity.
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Capesize: Throughout the week, the capesize market experienced shifts in sentiment and activity.
Back in January 2023, the US Energy Information Administration (EIA) envisaged US crude production growing by 550kbd over the course of the year. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Following on from last month’s release of the IEA Net Zero (NZE) 2050 report, the publishing of its World Energy Outlook (WEO) 2023 provides a glimpse into when oil demand may peak based on the Stated Policy Scenario (STEPS) framework, which is based on the current trajectory of global decarbonisation polices and is less pessimistic in its demand outlook. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Capesize: The Capesize market was unable to carry the rally from last week as rates were seen to dip sharply this week with the 5TC down 4901 to $19,875.
As the oil market contends with growing supply tightness until at least the end of 2023, macroeconomic headwinds are also at play. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Last week the IEA published its Net Zero 2050 report, which lays out the steps the world needs to take in order to reach net zero emissions (NZE) by 2050. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
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.