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Tag Archives: Tops

Dry Bulk Market: Freight Rate Prospects Looking Positive After Chinese Lunar New Year

Dry bulkers are hotting up price-wise, as the market’s prospects appear rosier than ever during these years of crisis. Shipbrokers are noting that, despite the Chinese New Year celebrations, which are typically negative for the freight market, the BDI (Baltic Dry Index) has managed to sustain a positive level, which means that heading up towards the spring wheat season of high demand, things can get even better. In turn, this has prompted more second hand acquisitions. In its latest weekly report, shipbroker Intermodal said that “the second month of the ...

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Bulkcarrier Deliveries: Still On The Slide

Against the backdrop of a shrinking orderbook, deliveries in the bulkcarrier sector have declined significantly since peaking in 2011, hitting their lowest level in deadweight terms since 2008 last year. In 2017 deliveries continued to fall, although it appears that improving market conditions led to the delivery of vessels that had previously been delayed, providing some support to bulker delivery volumes. Down The Track In total, 456 vessels of a combined 38.4m dwt were delivered into the bulkcarrier fleet in 2017, a decline of 64% and 62% in numerical and ...

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IBIA update: High sulphur bunker carriage ban on track for March 2020

It looks very likely that MARPOL Annex VI will be amended to make it an offence carry bunkers above 0.50% sulphur, and that the carriage ban will be enforceable as early as 1 March, 2020. The idea to make carriage, not just to use, of bunkers exceeding 0.50% sulphur content illegal was put forward in two near-identical proposals to an International Maritime Organization (IMO) meeting taking place at IMO’s London HQ from 5-9 February. The carriage ban proposal, while not universally welcomed, received majority support at the 5th session of ...

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Tanker Market: US Oil Exports’ Rise Bode Well for Ton-Mile Demand

Up until a couple of years back, the wording of US oil exports was a “blank form”, as the leading economy didn’t allow for the exports of its oil. However, with the relaxing of the rule from 2016 onwards, the floodgates have opened and the US is quickly turning into a major factor in the tanker market for the export trade as well. In fact, this trend has benefited shipping, since, in most cases, it’s translated into increased ton-mile demand. In its latest weekly report, shipbroker Allied Shipbroking noted that ...

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Lack of uniform international legal framework will hinder and fragment the adoption of green technology in shipping

Costs hindering implementation of energy management technology Over two thirds (68%) of global marine industry executives believe that a lack of uniform international environmental regulations will impede the adoption of green technologies in shipping, according to a new report from the Institute of Marine Engineering, Science & Technology (IMarEST) and global law firm Clyde & Co, that surveyed 220 marine industry executives from across the world. Clyde & Co explains that some international maritime conventions, which target environmental protection, do exist. One ongoing example is the global sulphur emissions limit, ...

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Offshore: Bet Your Bottom Dollar…But When?

Since the 2H 2014 offshore downturn, when investment in new exploration and development dried up, many offshore vessel owners will have tended to agree with the child heroine of the 1976 musical Annie: “It’s a hard knock life”. However after three years of setbacks and weak markets, some are now starting to see positives, as a few indicators show encouraging signs. But does that mean it’s time to invest? You Gotta Hang On… In any cyclical market, calling the bottom of the cycle is difficult, but key. Buying low and ...

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Demolition Market Could Heat Up For Tanker Units Soon

Things could start to heat up in the ships’ demolition market, as more and more tanker owners are contemplating selling their older units. On the back of this trend, should Pakistan elect to uplift its ban on tanker imports, as is widely rumored among the industry, the market could firm up pretty quickly. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as more larger tanker units are talked in the market this week, there are ‘stronger’ rumours emanating from Pakistan that the ban on importing tankers will ...

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Depressed outlook for long-haul routes in chemical shipping market

Chemical shipping freight rates will weaken through 2018 due to the depressed outlook on overtonnaged long haul routes, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. The global chemical trade grew by a little over 4% in 2017, while overall tonne-mile demand expanded by almost 5%. Despite continuing global economic growth, Drewry expects seaborne chemical trade to grow by 2.5% in 2018 and tonne-mile demand by 1.6%, reflecting a slowdown in long-haul trip growth. Increasing self-sufficiency in base chemicals in Asian countries is ...

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Dry Bulk FFA: Capesize Market On Pause Mode Ahead of the Chinese New Year Holidays

Little has changed in the Capesize index since last week, the higher high would suggest the technical could be firming. However, we remain below the shorter period averages with the stochastic approaching 70 implying more needs to be done for the technical to be considered as bullish. From a futures perspective we remain below Fibonacci resistance levels with the stochastics in overbought territory. Futures trends remain technically bullish but overstretched, suggested near term market pullbacks are due. Capesize Index Daily Resistance – 14,894, 16,039, 17,184 Support – 11,189, 11,087, 6792 ...

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Dry Bulkers’ Newbuilding Contracting Retreats After Recent Flurry

As the level of newbuilding contracting will be crucial for the sustained recovery of the dry bulk segment, it’s perhaps good news that the recent flurry of activity was met with a standstill over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “another interesting week in the Newbuilding market, with a considerable flow of new contracts coming to light. After a couple of weeks of heavy ordering being seen in the Dry Bulk sector, things changed rapidly, with new ordering ...

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Global Shipping Is On Course For Recovery In 2018, But All Eyes Are On Orderbooks

S&P Global Ratings believes that, in 2018, demand in the three main segments of the global shipping industry (dry bulk, tankers, and containers) will outstrip supply for the first time in several years. The lighter new vessel delivery schedule for 2018, compared with 2017, combined with our expectation of sustained imports of commodities, and longer distances travelled, point to rising charter rates across the shipping industry this year–with the exception of the container liner segment, which we forecast will see flat rates or a slight dip. What’s more, given the ...

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China Breaks New Ground… Again

Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the shipping industry to the greatest extent as both volumes and distances have increased. Iron ore imports breaks last year’s record China continues to ramp up its imports of iron ore with seaborne imports growing 4.7% in 2017 compared to 2016. ...

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VLCCs on Firmer Ground as Middle East Fixtures Rose by 82% on the week

The VLCC tanker market was on a high over the course of the past week, as a result of increased demand for cargoes from the Middle East. In its latest weekly report, shipbroker Charles R. Weber noted that “a strengthening of demand in the Middle East market this week halted the downward rate trend of the second half of January. A total of 35 fixtures were reported there, representing an 82% w/w gain and the highest tally in four weeks. Fixture activity in the West Africa market was less inspiring: ...

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Dry Bulk FFA: Capesize Index Remains on Bearish Territiry

Technically the index remains in bearish territory as it is below its medium term moving average. However, price action itself has now made a new high and this is a bullish signal. Downside moves that hold above the USD 11,189 support would be considered as technically bullish based on the recent market high. Below this support the market would be considered as bearish. Capesize Index Daily Resistance – 14,894, 16,039, 17,184 Support – 11,189, 11,087, 6792 The Capesize index has now traded above USD 14,065 and created a new market ...

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DNV GL in Greece: Showcasing new tools and services at the cutting edge of digitalization

In a Press Conference that took place recently at DNV GL’s Piraeus offices, Regional Manager, Mr Ioannis Chiotopoulos, and his management team presented DNV GL’s new and updated digital tools and demonstrated how the classification society was using these to achieve the best outcomes for its customers. “We are proud that our organization has become a pioneer in the delivery of digital classification and certification services,” said Mr Ioannis Chiotopoulos, Regional Manager South East Europe, Middle East & Africa. “We have already implemented a number of pilot and full-scale programs ...

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