BIMCO Search Results

Results for:Shipping number of the week

Showing 21 - 30 of 200

Reset Filters

Filter by area
Filter by location
Filter by content

13% of world seaborne trade under attack from Houthis and Somali pirates

19 March 2024

Houthi attacks on ships in the Red Sea, coupled with a rise in piracy off the coast of Somalia, are disrupting global trade. In 2023 an estimated 13% of global seaborne trade transited through these areas. However, the attacks have reduced the number of ships transiting the area by 50%.

Crude oil tonne miles out of the Gulf of Guinea down 5.9% so far in 2022

22 September 2022

Gulf of Guinea crude oil exports have year-to-date contributed 13.7% of VLCC’s tonne miles demand and 16.5% of Suezmaxes. A 13.5% y/y drop in Nigerian year-to-date crude oil output has been the main drain on demand and caused a 5.9% decline in tonne miles. A further decline in Gulf of Guinea exports can be expected from mid-2023 when Nigeria’s Dangote refinery begins operation – requiring a sizeable portion of the country’s crude oil – and possibly add to rate volatility.

Grain agreement could see 65% of Ukraine’s seaborne capacity reopen

27 July 2022

On 22 July, Russia and Ukraine signed an agreement with Turkey and the United Nations to allow grain exports from three ports in western Ukraine: Yuzhne, Chornomorsk, and Odesa. Combined, the three ports accounted for 65% of the country’s total grain exports over the past five years. Exports could, however, face several difficulties.

Iron ore exports to China fell 3.2% in the first half of 2022

14 July 2022

In the first half of 2022, the Chinese economy was plagued with weak demand and low economic growth, driven in part by their zero COVID policy. The country’s weaker economy caused a lower demand for steel, meaning that production fell by 8.7% y/y as of May.

Cargo volumes in Red Sea area drop 21% due to attacks on ships

27 February 2024

During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number of ships arriving in these ports significantly declined as merchant shipping increasingly avoided transiting through the region due to concerns over attacks on ships by the Houthis.

All eyes on US gasoline today; will demand exceed 9.2m bpd?

26 May 2021

“Fill her up son, unleaded; I need a full tank of gas where I'm headed,” former Police-front man, Sting, sang back in 1999 on his solo album: “Brand New Day”. This country-inspired song could be the anthem for what is coming around next week, as Monday 31 May is Memorial Day in the US; the day that kicks off “the US driving season”.

Boost in orders for ships below 8,000 TEU drives order book to 17.3% of fleet

23 June 2022

In October 2020, the order book for new container ships bottomed out at 8.4% of the combined trading fleet. For ships smaller than 8,000 TEU, the order book bottomed out one month later at 3.7% of the trading fleet, and only accounted for 18.2% of the total container order book. Interest in the smaller segments, however, is bouncing back after months of hibernation.