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N/S Supply/demand: Asia-Australia

Cargo growth between North East Asia and Australia remained healthy in 4Q 13 despite adverse seasonality, particularly in December, when vessel utilisation dipped below 80%.

Cargo from North East Asia (China, Hong Kong, South

Ship owners in Hellas and worldwide shun "pools" in favor of more direct approach towards charterers

In what could be a sign of things to come, it's becoming increasingly apparent that more and more ship owners are opting out of commercial pools. This trend was more evident over the course of the past year, when a fair number of ship owners in Greece and abroadd, decided to withdraw a number of their vessels from various pools. According to the latest weekly

Owners pursue Filipino ambulance-chasers

As unions and employers negotiate renewal of a global labour agreement that already means Filipino seafarers can earn over USD 1,500 a month, ship owners are appealing to their government in Manila to put the brakes on the ambulance-chasers. The talks at the International Bargaining Forum (IBF) have already seen an opening claim for a 15% rise in total crewing

Who is liable for oil pollution payment?

The Helsinki Appeal Court recently overruled a Helsinki Maritime Court judgment regarding an oil pollution payment in 2013. The Finnish Border Guard, which imposes oil pollution payments, sought leave to appeal from the Supreme Court. The question behind the appeal for leave is whether the pollution payment is an administrative payment or a criminal penalty. A Panamanian vessel

Iraq Basra Light crude exports to rebound in April

Iraqi exports of medium sour Basra Light crude oil will rebound in April to 2.58 million barrels per day

Dry bulk vessels still the "cream of the crop" for ship owners

Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and newbuilding ordering activity reported over the past week. With the Baltic Dry Index (BDI) on a recovery mode (now well over the 1,500-point mark), this trend is only going to intensify in the coming weeks, especially

E/W Supply/demand: Med-North America

Cargo growth between the Mediterranean and North America was unusually strong in the final quarter of 2013, but much more is needed to significantly improve average vessel utilisation and freight rates.

Final figures for December confirm that North American

Global Marine Fuel Trends 2030: Heavy fuels to remain dominant, LNG to increase market share

A Lloyd's Register - UCL study discussing the prospects of marine fuels by 2030.Global Marine Fuel Trends 2030 from Lloyd’s Register and University College London’s Energy Institute explores the drivers for the future energy mix in shipping in 2030. The report provides insight into future fuel demand

Owners Liability For In-Transit Loss Does Not Extend To Loss Caused By Piracy

In the recent case of Trafigura Beheer BV v Navigazione Montanari Spa [2014], the Commercial Court considered whether a charterparty clause making Owners liable for in-transit loss covered loss where the cargo was stolen by pirates. This case involved a claim by Charterers against Owners for "in-transit loss" of part of a cargo of premium motor oil. The voyage in

Ukraine crisis could bring serious grain trade disruption

What kicked off as a protest concerning a trade pact with the European Union, quickly escalated into a full on political crisis involving Russia, the E.U. and the U.S.A. The presence of Russian troops in the Crimea peninsula has ignited the jump of commodity prices last week and some people in our industry have already started wondering whether acceleration of the crisis

USEC ports in deep trouble

Great changes lie ahead in the trade lane between Europe and the US East Coast/US Gulf, but to what extent will its ports be up to the job, and what are the implications for shippers? Recent clarification of the port rotations of G6’s proposed services between Northern Europe and US East Coast/US Gulf from 2Q 14 underlines the great changes that are in the making in the

Shipping issues arising out of the Ukraine crisis

The situation in Ukraine remains fluid and, with events moving quickly, very little is certain. At the time of writing, attention is focused on the Crimea with rumours of Russian naval vessels blockading the Kerch Straits which, if true, would quickly isolate the main port of Mariupol (see map below). At present, the US and EU appear committed to achieving a non-military solution to

Crude tanker deliveries on a lower trajectory, but product tanker ones are on the rise

The question of tanker deliveries is a major one when it comes to determining freight rates, with oversupply proving to be a major factor in recent trends. According to the latest weekly report from shipbroker Gibson, "tanker deliveries in 2013, both in terms of numbers and deadweight, were the lowest recorded since 2002. The final deadweight total, 21 million tonnes was 10 million

’Risk takers and shipping loans’

Risk Takers. Let’s face it. This is in fact what all investors are. There is no investment which can bring returns without taking some risk, except one, and that is Knowledge. This is why Fund Managers, Financial Advisors, Wall Street Gurus are highly remunerated and their annual hefty success bonuses exceed the wildest dreams of most ambitious and well paid executives.

Up And Down The Box Rate Rollercoaster

Liner shipping companies are responsible for operating the world's 5,087-strong containership fleet. They own 52% of the capacity and charter in the rest from independent owners. In principle they then turn a profit on this by transporting containers around the world for cargo shippers.

Up And Down

Recent experience suggests that this can be a difficult

VLCC pricing to increase in the future

VLCC tankers are now demonstrating a contango market, especially after the recent rise of newbuilding prices, compared to their five-year old peers. This according to Mcquilling Services which stated in a report Friday, that the market for VLCCs could very well be in a contango, i.e. future prices are expected to be higher than current valuations. According to Mcquilling,

N/S Supply/demand: Asia-Mid East-Indian Subcont - Carriers need greater economies of scale

Cargo growth between Asia and the Middle East/Indian Subcontinent region was poor in 4Q 13, prompting ocean carriers to look for more profitable ways of serving the trade lane.


Cargo shipped from Asia to the Indian Subcontinent

Towards an EU integrated approach to global maritime security

The European Commission and the High Representative of the European Union for Foreign Affairs and Security Policy have adopted today a Joint Communication to the European Parliament and the Council "For an open and secure global maritime domain: elements for a European Union maritime security strategy". This joint communication presents a vision of the Union's

Dry bulk market to benefit from China's GDP growth target

With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping market, in particular dry bulk. According to a note released yesterday by BIMCO's Chief Shipping Analyst, Mr. Peter Sand, "despite being a little down on the 2013 GDP growth of 7.7%, the growth target of 7.5% set by China’s

The Restructuring Of Non-Performing Shipping Loans

European banks account for approximately three-quarters of the global ship financing market of approximately USD 475 billion, with German banks having by far the highest exposure compared to their European competitors. Banks in Scandinavia and the United Kingdom follow. As a result, German banks are particularly exposed to any negative market developments in the
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