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Tag Archives: Tops

Shipbroker Expects Clean Tanker Market to Weaken Moving Forward

Shipbroker Intermodal is expecting weakness in the product tanker market moving forward. In its latest weekly report, Intermodal said that “as we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez”. The shipbroker’s Tanker Chartering Broker, Mr. George Vastardis noted that “looking towards the East of Suez and in particular the Middle Eastern Clean MRs over the previous week, we notice that quite healthy activity has pushed rates slightly up. This led to short hauls cross MEG ...

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Dry Bulk FFA: Supramax Markets Still Bearish

Supramax Index- Continues to be bearish but on MA support, upward moves that fail at USD 9,000 would imply further downside continuation. Q3 – A head and shoulders pattern has is confirmed and the neckline is acting as resistance. Caution on a close above USD 8,455 as this would suggest pattern failure. • Cal 18 – Technically bearish, we remain cautious due to oversold momentum. Technical sell levels on price failure between USD 8,655 and USD 8,940. • Q3 v Cal 18 – Behaved as expected last week. Another bullish ...

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In The Wake Of Giants: Boxship Fleet Deployment Trends

Trends in containership deployment are driven by several key factors, including trade growth, the ‘cascade’ of ships from one trade lane onto another, and infrastructure capabilities. In the midst of rapid growth in the ‘mega boxship’ fleet, and nearly a year on from the opening of the new expanded locks of the Panama Canal in June 2016, it is a good time to take a look at recent trends in boxship deployment. From The Top The 15,000+ TEU ‘mega boxship’ fleet has expanded rapidly in recent years, and stood at ...

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Orolia Primed for Leading Position in Automated Vessel Monitoring with Latest Acquisition

Last month, Orolia announced the acquisiton of Netwave Systems, a Netherlands company specialising in the VDR (Voyage Data Recorders) market. VDRs are mandated by the International Maritime Organization on-board every merchant vessel subject to the SOLAS Convention. In an exclusive interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Chris Loizou, Chief Business Development Officer of Orolia, discusses the scope behind Orolia’s latest acquisition and its future plans, as the company is increasingly looking to lead the industry in terms of high added-value services, like automated vessel monitoring. How does the ...

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Dry Bulk Market: FFA Panamax Index Oversold says Broker

Panamax Index Weekly Support – 6,459, 5,948, 5,122, Resistance – 8,388, 8,857, 9,403 The 200 period MA has been broken, as have the first two support levels. At this point we have seen no bullish rejection candles that our needed to suggest a technical bounce. Market buyers should remain on the sidelines before looking to enter. The stochastic remains in oversold territory making this a high risk area to enter fresh shorts, highlighted by the technical support at USD 6,459. A market pullback that rejects the 34 period EMA at ...

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Asian MR Market Shows Signs of Recovery

A new lease of life has been breathed into the ailing Medium Range (MR) tanker market in Asia. The MR market has been mired in a slump in recent months, with TC11 rates sinking to a multi-year low of $240,000 in April on the back of lower product exports from China and South Korea. The lumpsum rate for TC11 has since rebounded by $50,000 to $290,000 due an influx of activity in North Asia. Overall Chinese product exports touched a three-month low at 3.5 mmt in April, down by 22.6% ...

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Dry Bulk Market Recovery Hinging of Slower Fleet Growth

When all has been said and done, the recovery of the dry bulk market is down to a number of factors, with the prevailing one being the significant reduction of the dry bulk fleet’s growth. Thankfully for ship owners, this seems to be evolving to a much more stable trend, at least according to dry bulk ship owner Jinhui Shipping. In a recent outline of the course of the dry bulk market, the company noted that “the first months of 2017 marked a more encouraging market for dry bulk shipping, ...

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Dry Bulk FFA: Capesize Index Could Soon Be on the Rise Again

Capesize Index Support – 11, 414, 10,862, 9,468 Resistance – 13,214, 13,772, 15,301, 19,602 The index remains little changed from last week and has continued its sideways action on current support levels. Increased volume and open interest would suggest some accumulation is going on at these levels, and in freight this is often associated with bullish moves. The stochastic and shorter period MA’s remain neutral, though the 50 period MA remains in a bullish trajectory. This market needs technical confirmation that another upward move is upon us. The rising open ...

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Scorpio Tankers 2nd highest tanker fleet with new Navig8 vessels

Scorpio Tankers is to buy the 10 LR1/2s owned by Navig8 Product Tankers, as well as take over the 17 vessels on Bare Boat Charter to Navig8, VV has put together some quick stats. It’s interesting that Scorpio Tankers are buying now. 5 year old LR1 tanker values have been pretty flat since mid January 2017. Here is VesselsValue’s Fixed Age market value for a 5 year old LR1 vessel over the last 5 years: Navig8 Product Tankers owned 10 of the vessels involved in this deal, a mix of ...

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Newbuilding Prices Rising Trend Continues as Buying Interest Intensifies

The slumping days of the newbuilding ordering market seem to be over. Prices have been on the climb over the past few weeks, a trend which has continued unabated during the course of the past week as well. In its latest weekly report, shipbroker Allied Shipbroking noted that the fact that prices are moving upwards has also led to disruptions on buying interest as well, as many are waiting to see what best deals are on offer still. According to Allied, “one of the major factors that has influenced the ...

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Shipping industry’s CO2 proposal to IMO may be a good compromise

Pressure is growing on the International Maritime Organization (IMO) to deliver specific commitments to reducing greenhouse gas emissions. A proposal from the International Chamber of Shipping (ICS) and other shipping organisations offers a possible way forward. IBIA explains what’s going on. The IMO agreed on a ‘roadmap’ for its strategy to control greenhouse gas emissions from international shipping at the 70th meeting of its Marine Environment Protection Committee (MEPC 70) in October last year and it is expected to adopt this roadmap at MEPC 71 in July. The GHG subject ...

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BMT Smart: Fleet Performance Management Is No Quick Win

Fleet Performance Management (FPM) can drive efficiency improvements of up to 38%, but many ship owners and operators are finding that FPM is costing, rather than saving them money. The expectation that once you plug and play an FPM system the savings will be immediate, has set a precedent that in real terms, is simply unachievable. Peter Mantel, Managing Director of BMT SMART, a subsidiary of BMT Group, argues that FPM is a marathon, not a sprint and long-term collaboration is required to ensure a return on their investment. Mantel ...

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Tankers: VLCC-Capable Export Facilities Key to More US Crude Exports

With the startup of the Dakota Access Pipeline (DAPL) set for June 1, Bakken producers are only days away from gaining easier, cheaper pipeline access to the Gulf Coast. DAPL runs from North Dakota to the crude hub at Patoka, IL, from where the new Energy Transfer Crude Oil Pipeline (ETCOP) links volumes to Nederland, TX. Bakken producers are keen to explore new worldwide export markets and these pipelines offer them an economical way to get their crude at least into PADD 3. The 450,000 b/d DAPL promises to provide ...

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VLCCs: Secondhand values set to hot up

In February this year, the VLCC orderbook reportedly fell to its lowest level since 12 months earlier, with around 89 VLCCs on order. This is equivalent to around 11% of the VLCC fleet currently on the water (around 725 vessels). Firm orders for 22 VLCCs have been reported so far this year, plus a further seven optional vessels. As has been reported in the maritime press, nearly two-thirds of all the firm VLCC contracts came from Greek companies and almost all the newbuildings are to be built at Korean yards. ...

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Counting The Cost…OPEX Tops $100 Billion!

“Look after the pennies and the pounds look after themselves” goes the saying, a mantra the shipping industry has a long taken to heart. In this week’s Analysis, we review trends in ship operating expenses (OPEX) that have taken the total cost base of the shipping industry through the $100 billion barrier for the very first time. Watching The Pennies! Of all global industries, perhaps few have had the extreme cost focus of shipping over the past 30 years. During the 1980s recession, any operating “fat” was largely removed with ...

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