Global trade patterns have changed dramatically in the last two decades. Emerging markets now account for 42% of world exports, up from 19% in 1990, or 52% excluding intra-EU trade. Asia has firmly established itself as the centre of the “made in the world” vertical global supply chain, with China emerging as a mega-trader. Trade is increasingly “unbundled” with countries no
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it is apparent that the market is rising, claimed BIMCO in its latest market analysis for the April/May period. For this period, BIMCO believes that the level of Capesize TC average rates will hover around USD 12,000-22,000 per day. Panamax TC
The International Union of Marine Insurance (IUMI) has released its Spring Statistics which found the percentage of total hull losses have fallen to a record low. The figures which are the most comprehensive study into hull, cargo and energy insured losses available reported the frequency of total losses for ships above 500 GT increased marginally in 2012 compared to preceding
DNV GL presents a novel approach that overcomes challenges of assessing on board energy efficiency in a consistent manner. As a result, priorities for improvement can be determined accurately. In a new report released today, DNV GL answers the question: How can a ship manager identify the biggest sources of useful energy that are currently being wasted on their ships?
Ship owners have returned to yards around the world with an equal appetite for dry bulk carriers, tankers and containers, according to the latest shipbroker reports. According to figures compiled by Piraeus-based shipbroker Golden Destiny, over the course of the past week there've been a total of 61 vessels ordered, with an aggregate deadweight of 4,113,700 tons,
Terminal operators in Europe will soon face new pressures from mega-alliances, but have yet to show that their hinterland cargo can be delivered efficiently under the conditions envisaged. The FMC’s recent approval of the P3 alliance suggests that its services will become reality in all three proposed East-West routes by the middle of the year. Whatever shippers think of the
World’s largest (deepsea) Ro/Ro carriers
Dynamar has issued a brand new report of the subject on Deepsea Ro/Ro Shipping. It is a unique publication, focusing on two different types of roll-on/roll-off ships operating in intercontinental waters: Conventional Ro/Ro Vessels, and Vehicle Carriers. Among the many features covered, this publication
The tanker market is still waiting for Iran's crude export cargoes to start flowing in the international scene at levels enough to make a difference, in terms of freight rates. According to the latest weekly report from shipbroker Gibson, "just over two months ago, the sanctions imposed on Iran in 2010 as a result of its nuclear development programme, were temporarily lifted
Few service adjustments were made by ocean carriers between December and March, but major changes lie ahead in 2Q14, and not just from the P3 alliance.
Asian cargo discharged through ports along the East
The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) met for its 66th session from 31 March to 4 April 2014, at IMO Headquarters in London. The Committee adopted amendments to the MARPOL Convention to set a date for the implementation of “Tier III” standards within emission control areas (ECAs) and to make
China's importance as a consumer of raw materials for the shipping markets, both dry bulk, as well as tanker, is undoubtable. The rise of China's trade over the past decade or so has been instrumental towards altering the landscape for the shipping industry as well. According to a recent report from Poten & Partners, for the most part of the past decade, "China has been
The rapid rise in container and dry bulk trade within Asia has provided strong support to global trade in the last decade. Of the 9.9bt of estimated world seaborne trade in 2013, more than 10% was intra-Asian trade of containers and key dry bulk commodities. Since 2003, world seaborne trade has risen by 50%, and the doubling of intra-Asian trade of containers and selected dry
As part of the European Union’s drive to streamline and standardise the reporting formalities for ships arriving in and/or departing from ports of the Member States, it has introduced wide-ranging legislation. EU Directive 2010/65/EU, commonly known as the ‘Reporting Formalities Directive’ mandates that Member States must adopt a “Single Window” system as soon as
Edible oil trade isn't the "bread and butter" of the tanker market trade, but could very well turn into an important factor of the market. In a recent report, Katerina Restis, member of the Tanker Chartering department of shipbroker Intermodal provided a useful insight on the subject. According to her, "palm oil originates from West Africa, and there is evidence of its use as far as back
The biggest containerships are now worth about USD 150 million as they emerge from the shipyard, while it would not be an exaggeration to suggest that on a fully laden voyage they might be carrying up to USD 1 billion’s worth of cargo. A great deal of that cargo is carried on deck, up to 9 or 10 high containers, which is about the limit that container strength will support.
The findings of the fifth Annual Review of the Hellenic Observatory of Corporate Governance (HOCG) about the presence of the Women in the Board of Directors (BOD) of Greek Maritime Listed Companies were presented by Mrs Aspasia Pastra and Dr Dimitrios Koufopoulos at the World Maritime University. The Conference Maritime Women: Global Leadership 2nd International
Things are ever so susceptible to change in the tanker market, with the recent developments in terms of the China-Pakistan agreement to create an "economic corridor" between the two nations, being yet another factor, which could lead to changes in tanker demand. According to the latest weekly report from shipbroker Gibson, "Pakistan's President Hussain predicted
The European Community of Shipowners’ Associations, representing the interests of the national shipowners’ associations of the EU and Norway, and CLIA Europe, representing Europe’s cruise industry, welcome the proposal for a revision of the EU Visa Code as a first important development for visa facilitation for seafarers. Seafarers are a critical part of
A survey of London solicitors by ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts. ITIC gave a panel of London solicitors – all of whom had previously been instructed on cases involving ITIC members – a hypothetical claim scenario involving a broker which had been cut out of commission. The solicitors were asked to
In a recent note, ship owner Euronav said that the tanker market for VLCCs and Suezmaxes could face improving conditions in the coming months and years. According to the company, the main reason for this is the diminishing orderbook. "Given the market for tankers in the past couple of years and the difficulties faced by most owners to secure financing, not many