21 December 2020
The best science fiction script writers from Hollywood could not have come up with the twists and turns that we have experienced during 2020. In a year that was supposed to be dominated by IMO2020, the transition to VLSFO went relatively smoothly (nothing much else did). Price spreads widened and those who had installed scrubbers looked pleased with their investments. Little did they know that the spread was about to collapse for reasons no one could have predicted.
Weekly tanker market report by Gibson Shipbrokers.
09 September 2020
Despite lower demand because of the pandemic, carriers have achieved high freight rates and profitability in the first half of the year through large-scale capacity reductions and low bunker prices.
13 August 2020
Containerships with a collective cargo carrying capacity of 5.3m TEU are now fitted with an exhaust gas cleaning system (scrubber) to remove sulphur oxides (SOx) from the exhaust gasses generated by the combustion processes in marine engines and thereby comply with the IMO 2020 global sulphur regulation which came into force on 1 January 2020.
03 July 2020
Currently, four sulphur emission control areas (ECAs) are designated under MARPOL Annex VI. In addition, national sulphur emission control areas s have been designated in some countries.
26 May 2020
The Covid-19 crisis has – and will continue to – hit the container shipping market hard, and the current economic situation provides no hope for a short-term recovery.
25 May 2020
Geopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.
18 May 2020
In recent weeks, several publically listed tanker companies announced thier decisions to postpone scrubber installations.
The weekly tanker market report by Gibson Shipbrokers.
07 May 2020
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.
07 April 2020
BIMCO will host the Perspectives and insights on shipping amidst a pandemic webinar on 14 April 2020. The free 1-hour webinar will touch upon how the coronavirus has impacted the commercial shipping markets and what the future may hold.
02 April 2020
Geopolitics is the dominating variable in the tanker market these days. With the OPEC+ negotiations falling apart and Saudi Arabia initiating an oil price war, the crude oil tanker spot freight rates, and time charter (TC) rates have soared.