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Robust scrapping activity has been one of the key features of the tanker market this year. Demolition has been particularly strong in the VLCCs sector: we have seen 32 tankers sold to the breaking yards so far in 2018 versus 11 units over the whole of 2017. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
In our last report for the year, newbuilding activity remains consistent with the very generous volumes seen on a weekly basis throughout 2018. In the list with the most recently surfacing deals we once again observe ordering interest spread across most of the popular shipping sectors, with the Newcastlemax orders in New Times against CoA to Vale being the most notable ones. The weekly newbuilding report by Intermodal Research & Valuations feature, include newbuilding prices for dry bulk-, tanker- and gas shipping segments. Additionally, recent newbuilding orders are listed by units, type, size, yard, expected delivery date and price.
Weak, Crude and Depressed - For quite some time the consensus in the crude tanker market has been that 2018 will be a disappointing year in terms of industry earnings. However, the extreme weakness in spot TCE returns across all tanker categories in January still left many surprised The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
The Tokyo and the Paris Memoranda of Understanding (MoU) on Port State Control starts a inspection campaign on MARPOL Annex VI (Air pollution) from 1 Sept to 30 Nov 2018 – Checklist and Guidance provided.
The relatively slow SnP market of the past days, continues to see steady enquiry for tanker tonnage of all sizes, while the number of dry bulk transactions remains soft compared to the weekly averages we have seen so far in 2018. The weekly sale and purchase report by Intermodal Research & Valuations features secondhand sales market prices for crude oil- and oil product tankers, dry bulk carriers, container ships and gas tankers.
Taking into account the average monthly newbuilding activity during the year so far, it is certainly not a surprise to see that the start of the last quarter of 2018 is kicking off with an impressive amount of newbuilding deals being reported, while despite the fact that momentum has been strong for quite a while, the number of orders surfacing during the past couple of weeks is certainly overwhelming. The weekly newbuilding report by Intermodal Research & Valuations feature, include newbuilding prices for dry bulk-, tanker- and gas shipping segments. Additionally, recent newbuilding orders are listed by units, type, size, yard, expected delivery date and price.
BIMCO’s Chief Shipping Analyst will be visiting Singapore to be the moderator at BIMCO’s own seminar and networking event “Crude Oil Tankers: Road to Recovery” . Peter Sand will furthermore be participating in Maritime CEO Forum and a panel discussion at the 15 th edition of Asia Pacific Maritime Conference. All three events are hosted in Singapore and will take place on 13-15 March 2018.
The International Monetary Fund (IMF) has revised down its predictions for global growth in 2019 and 2020. It forecasts growth to be 3.5% in 2019 and 3.6% in 2020. This means a dampening of global growth over the next two years, as growth in 2018 is estimated to be 3.7% The slowdown will affect both advanced and emerging economies.
The first six months of 2018 are set to conclude with an increase of around 17% in terms of all new orders placed compared to the same period during last year, while if one looks at the respective increases in the more conventional sectors the figures are way more impressive. The weekly newbuilding report by Intermodal Research & Valuations feature, include newbuilding prices for dry bulk-, tanker- and gas shipping segments. Additionally, recent newbuilding orders are listed by units, type, size, yard, expected delivery date and price.
