In recent years large crude tankers are down having taken a good kicking, and today punters don't seem to like the look of them. However, a survey of earnings in each major sector during the five years since the 2008 crash tells a slightly different story, which is worth looking at closely.
Method In The Madness:
The New Zealand Commerce Act prohibits a range of anti-competitive conduct. However the Commerce Act, as it currently stands, contains a specific exemption which applies to international shipping. A new Bill, widely referred to as the Cartel Bill, is now before Parliament and will remove this exemption and require shipping lines to comply with the Commerce Act. Shipping
Tanker owners are counting on history repeating itself in order for their hopes of higher freight rate levels to be revived. As it turns out, 2013 isn't shaping up to be a year to be remembered. According to the latest report from US-based Mcquilling Services, "rates have languished at levels most thought had been consigned to history as tonnage remained abundant
More than 250 top-level delegates attended trade association Interferry’s 38th annual conference in Malta to debate the major factors affecting ferry operations around the world. Under a new format mixing presentations with panel discussions and audience input, the event underlined the diversity of political, technical, operational and commercial issues challenging
The news this week that a longshoremen’s strike had effectively stopped cargo operations at the port of Baltimore, a major hub for foreign car imports into the US, underlines a new warning by The Strike Club. Strikes by stevedores continue to dominate the list of perils causing delays, reports the mutual insurer after a recent analysis of its claims files. In the 2012-2013
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchmark, the Baltic Dry Index stood yesterday at 1,960 points, having shedded just five points over the previous session. The biggest gainer was the Supramax market, with the respective index rising by 87 points to reach 1,206. The Capesize
With three months remaining in 2013, and contracting activity already up 53% in dwt on year end 2012, this year has brought a welcome uptick in ordering with 1,307 contracts placed. This month we take a closer look at contracting trends in the year so far.
Taking a Bigger Slice of the Pie:
The International Chamber of Commerce’s International Maritime Bureau (IMB) has revealed that piracy on the world’s seas is at its lowest third-quarter level since 2006, but warns of the threat of continuing violent attacks off the East and West coasts of Africa. The latest IMB Piracy Report, published today, shows 188 piracy incidents in the first nine months of 2013, down from
Hellenic ship owners have regained the world "crown" when it comes to second hand vessel acquisitions, as well as newbuildings, during the nine month period of 2013. According to figures compiled by shipbroker Intermodal, during the January – September period, Hellenic ship owners have acquired 271 second hand vessels for a total of 3.23 billion euros
International accountant and shipping adviser Moore Stephens has welcomed a decision by the European Commission to keep
in place in their current form the guidelines relating to state aid to
maritime transport, which include EU tonnage tax regimes. The decision
follows an EC review of the guidelines and has been formally
communicated to the European Community Shipowners’
By a quirk of fate, the contrasting roles played by the Masters at the centre of two of the most famous maritime incidents of recent times are being portrayed almost simultaneously in front of global audiences. That of the Master of an American containership trying to prevent a hijack in 2009 before being dramatically rescued by the US Navy is depicted in a Hollywood film,
Newbuilding ordering activity was lacklustre last week, as shipyards in China were returning to their normal operations after the week-long holiday. As a result, orders were scarcer, but activity is expected to pick up in the coming weeks, as more and more owners will be looking to finalize deals they've been negotiating, especially as the year draws to a close. According to
One of the key hurdles to the increased global use of ships fuelled by Liquefied Natural Gas (LNG) is the lack of harmonisation of bunkering operations. “DNV GL is therefore today launching a Recommended Practice for authorities, LNG bunker suppliers and ship operators which provides guidance on how LNG bunkering can be undertaken in a safe and efficient manner,” says
Carriers continue to kill time in the transatlantic
There was little for ocean carriers to get excited about in the Transatlantic between July and September, although change is in the air due to the approaching introduction of P3’s new services in 2Q 14.
Eva Tzima Research Analyst
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research analyst, Eva Tzima, "since the beginning of 2013, there has been a lot of debate as for what the future might hold for the trade of coal. The majority of coal production is used
Hellenic shipping is one of the key sectors of the Greek economy, contributing annually
€13.4B on country’s GDP (2010 data), while employing over 165,000 people.
• The direct contribution of the core Hellenic shipping cluster is estimated to be €7.6B
Whilst commercial sense dictates that more vessels will be layed up or idled next year, few are predicting it. Although ocean carriers appear to have much to gain by laying up more vessel capacity in order to increase freight rates, the jury is still out on the extent of what will happen in practice. As recently made clear by Maersk Line’s ceo Soren Skou at Reuters Investment Summit,
Europe's ailing refinery industry is bringing major changes in traditional product tanker routes, as exports from the continent are diminishing. The effects are expected to be noticed even more in the upcoming winter season. According to the latest weekly report from shipbroker Gibson, "recently, Europe’s energy demand has come off the ‘back burner’ and into focus as we
Greece is a major player in the international maritime industry, with more than 4,300 ships (10% of all vessels sailing and No1 in European Maritime) and 15% percent of the world's total moving capacity, the largest worldwide. Maritime industry is considered as one of the key growth factors and most important sectors of the Greek economy with significant contribution to GDP that
Sale and purchase is a classic element of the shipping industry. A significant volume of secondhand sale transactions are concluded each year, with over 11,000 ships reported sold since start 2004. But some sectors have more liquid markets than others. Liquidity is the degree to which an asset can be bought or sold in the market, and liquid assets can be more easily converted