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New data on some of the key indicators followed by BIMCO’s shipping market analyst sheds light on near-term and future market developments. The news follow up on BIMCO market reports
Last week we wrote about the future of North Sea oil production and how it is a story of two halves. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
CAPESIZE: The story of the Capesize market over the past week has been largely Atlantic dominated as the basins uniquely volatile characteristics came into play. The Baltic Exchange daily fixture report features daily updates on the Baltic exc hange indexes, timecharters, periods, voyage fixtures and is listed by ship name, size, delivery place and freight rate. The weekly dry bulk market report by the Baltic Exchange contains news impacting the following segments; capesize, panamax, supramax and handysize.
Anyone who has worked in the tanker market for the last decade will be familiar with the story about the demise of old refineries in Europe in the face of stiff competition from newer, more efficient facilities in the East and the United States. Yet, in the last oil price crash (2014-2016), refineries in Europe had somewhat of a renaissance as lower prices boosted margins, and the story, which many product tanker owners used to beat the drum with investors, never fully materialised. Weekly tanker market report by Gibson Shipbrokers.
New resolution from the National Food and Grain Health Authority (SENASA) has come into effect for a testing period of one year.
As pressure on industries, governments, and companies to decarbonise increases, so does the need for the shipping industry to inform the public and decision makers and increase transparency about the industry’s efforts to decarbonise.