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Although risks remain, all indicators point to solid and sustained market strength not seen since the financial crisis hit in 2008.
2023 has seen a notable increase in new tanker ordering activity and as the year slowly draws to its end, it is perhaps time to reflect on where investment in new tonnage has been the strongest and where it is still lacking. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Markets remain precariously poised as Diwali holidays are finally upon the sub-continent markets and the industry heads into the final months of the 2023. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Deliveries of new container ships during the first seven months of the year reached a new record high of 1.2 million TEU in 2023, beating the previous record by 0.2 million TEU. As recycling of ships has remained low, the fleet capacity has grown 4.3% since January.
As we reflect on the year gone by and look forward to a busier and healthier 2023 for the various recycling destinations, 2022 has been the lowest year for more than a decade across all ship recycling locations. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Last week the IEA published its much-anticipated Oil 2023 report, after being forced to cancel/postpone two of the previous three releases due to the pandemic and war in Ukraine. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
The committee held its spring meeting at BIMCO House in Copenhagen to consider ongoing projects and discuss strategy on the association's contractual work.
China’s dramatic shift away from its strict zero covid policy at the end of 2022 defied expectations of a gradual reopening over the course of 2023. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Amendment 06-21 to the International Maritime Solid Bulk Cargoes (IMSBC) Code will enter into mandatory force on 1 December 2023 putting into effect some major amendments.
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistical challenges started to emerge. Two years after the start of the war in Ukraine, sanctions on Russia are limiting the country’s ability to export coal.
