14 October 2014
After lower than expected growth in the first half of 2014, the IMF has once more lowered its GDP growth forecast for 2014 and 2015.
30 March 2016
Read the latest interview with BIMCO’s shipping analyst Peter Sand in Hellenic Shipping News Worldwide.
15 October 2014
The world seems to be awash with oil these days, to an extent that no geo-political tensions in the oil-rich producing nations can make us “scared enough” to hike oil prices. We seem to have become accustomed to a world where such tension is the norm. This is very good news for the world economy, as it brings down the cost of energy – despite a number of ongoing major conflicts and the challenges related to Ebola in West Africa.
20 April 2017
Oil tankers experienced a tough start to 2017 as freight rates for all crude oil and oil product tankers continued their decline following the brief lift at year-end. For one, VLCCs may not yet have bottomed out. By 7 April 2017, average earnings stood at USD 18,853 per day, down from USD 63,284 per day on 16 December 2016.
11 April 2012
The global economy is getting better. The dark clouds that were piling up towards the end of 2011 have now spread, as brisk winds of change are beginning to restore optimism. However, the economic crisis is still not over and many tough political decisions have to be made before we can stand on top of a sustainable recovery. Three factors give us reason to believe things are getting better:
15 December 2009
Enjoy the ride while it lasts - before over-supply of capacity takes over. Demand: Chinese imports of iron ore and coal have been the dominating factor throughout the year
28 October 2009
An ”L-shaped” market in the making? Demand: The overall sluggish demand picture has resulted in slow steaming and idle capacity equal to 550 vessels comprising 10% of current trading fleet or 1.3 million TEU.
28 August 2017
The global tanker industry is directly linked to the global oil industry. Right now, demand for seaborne transport of oil is below normal and fleet growth is high, which means that the fundamental balance is uneven. The result is declining tanker earnings with the main culprit being the fast-growing fleet.