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Tag Archives: Tops

Too much capacity can hinder the dry bulk market’s recovery in 2018

The dry bulk market looks to be on a tight rope as it balances its way out of the doldrums. Overcapacity will still linger on as 2018 is about to enter the foray. In an exclusive interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), BIMCO’s Chief Shipping Analyst Peter Sand says that demolition levels are set to fall, compared to 2017, as rates are improving, while trade levels aren’t expected to return to the height of the current fourth quarter, before the third quarter of 2018. The second half of the ...

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Plenty Of Gifts For Container Shipping This Year…

The festive season is coming closer, and for many of us the time to get the seasonal shopping done is running out. For the containership sector, however, the peak shipping season was back in the summer, giving us a chance to reflect already on how consumer and manufacturing trends have left box shipping looking back on a busy year in terms of volumes. Gifts In Boxes It is currently projected that growth in global seaborne box trade will accelerate to 5.2% in full year 2017, up from 3.9% in 2016, ...

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Increased disclosure required under IFRS 15: are you ready?

New accounting standard IFRS 15, Revenue from Contracts with Customers, introduces more detailed requirements for presentation and disclosure than the standards it replaces. Shipping company financial statements do not currently disclose many of these new elements, so attention needs to be given to how this information is obtained and whether accounting systems and processes need to be amended or updated. In terms of presentation, IFRS 15 requires companies to show revenue from contracts separately from other revenue sources. Voyage charter income would therefore need to be presented separately from time ...

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Ship-repair market next boom cycle expected during the second half of 2018

The current state of the ship-repair market can be described as rather slow. In its latest report, Interyards SA said that “moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already matured and is ready to balance the highly volatile demand for ship repairs, facing slack or busiest periods with remarkable tolerance. The last very busy period for the shipyards was during the last Chinese New Year. Despite the fact that we are two months ...

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New Year celebrations for chemical tankers?

Styrene plant turnarounds will increase China’s dependence on imports, which along with price arbitrage will aid rates for chemical tankers over the next few weeks. China imports 40% of its requirement China is the net importer of styrene with an annual demand of about 10 million tonnes, of which around three to four million tonnes are covered by imports. Between January and October 2017, China imported 2.53 million tonnes, of which 49% (1.23 million tonnes) came from Northeast Asian countries. South Korea is the dominant exporter of styrene to China. ...

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Dry Bulk FFA: Panamax Index Looking Bearish

Panamax Index- Technically bearish below USD 12,579 as we approach the Bollinger band after 10 consecutive up days on an overbought stochastic suggesting momentum could be weakening. However a close above USD 12,579 would put the index back into bullish territory (if not overbought) and increase the probability of a higher low forming on a market pullback. • Dec – This technical is pretty dangerous. Upside moves would be counter trend based on the MA’s and suggest upside is limited, meanwhile a fresh low would create a bullish divergence. Caution. ...

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Ships demolition market picks up

Shipowners have been looking to offload more of their older ships over the course of the past couple of weeks, according to the latest reports from shipbrokers. Clarkson Platou Hellas said that “as we now approach the period of Advent, observed in many Christian churches as a time of expectant waiting and preparation for the celebration of the Nativity, we could also use this in relation to the current market conditions as it seems that some strong confidence has returned to the market again and enabled a small flurry of ...

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Dry Bulk FFA: Capesize Market Looking Bullish For the First Quarter of 2018

Capesize Index appears to be technically bullish above USD 20,626. However at USD 13,000 above the 200 period MA we are starting to look over extended. • Dec – A bullish trending environment but a large mean reversion gap with the 50 period MA is a concern. Market sellers should remain cautious with price action above the longer term means, even if we do see a lower high and lower low. • Cape Q1 18 – Over extended and starting to correct, recent market pullbacks have been short lived in ...

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VLCCs See Counterseasonal Drop in Demand

The Asian VLCC market has been facing unrelenting downwards pressure in recent weeks, with rates for the benchmark AG/Japan route plunging by w15.5 points m-o-m to w54.5 as of today. This translates into $7.99/mt, which is 44% lower than that of the year before. A smaller December loading program in the AG as well as build-up of tonnage in key loading areas weighed heavily on market sentiment, dashing owners’ hopes of a winter spike. Lower cargo demand can be attributed to an expected ease in Chinese crude imports in December ...

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Britannia P&I Club Switches Focus in The Greek Shipping Market

Britannia P&I Club is firmly establishing its presence in the Greek shipping market for P&I Clubs. This was made even more evident with the recent establishment of a local office in the Greek market, expected to open its doors in 2018, with the aim of providing a claims handling service, alongside the obvious fact of acting as Britannia’s public face in Greece. In an interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Dale Hammond, Director, FD&D and claims director for the Club’s Greek membership says that the renewed focus on the ...

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Case Study: Improper navigation results in contact with anchored vessel

The incident Shortly before completing his night watch, the 2nd Officer (2/O) on the tug had observed an anchored vessel at a range of about 3 to 4 nautical miles (nm) on the port bow. The closest point of approach (CPA) at that time was noted to be 0.5nm with the tug crossing the bow of the anchored vessel. At that same time, a passenger vessel was crossing the bow of the tug from port to starboard. The statement made by the 2/O explained how, once the passenger vessel crossed ...

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TT Talk – Containers: trading risks

Visionary though he was, it is unlikely that Malcom Mclean could have foreseen the extraordinarily varied uses that containers increasingly have. Apart from being a core tool for trade, the ‘humble box’ has also now become something of an architectural icon, used in all sorts of places – from edgy pop-up bars to trendy shopping centres, from start-up business villages to practical new hotels, from short-term accommodation to luxury designer housing. Trade for transport Companies involved in container buying, selling for transport must comply with relevant regulations. Container safety is ...

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Shipowners are Ramping Up Newbuilding Orders as 2018 nears by

Ship owners are contracting newbuilding vessels left and right over the past week, as 2018 and the Holiday Season are just a couple of weeks away. In its latest weekly report, Allied Shipbroking said that it was “another week with plenty of activity being reported in the Newbuilding market, after many weeks of high volatility and sluggish fresh interest noted. At this point, both of the main sectors driving the market, namely the Dry Bulks and Tankers showed a fairly healthy appetite in placing new orders. It is true that ...

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Fitch: Shipping Recovery Remains Elusive Despite Green Shoots

Fitch Ratings’ sector outlook for global shipping remains negative as we do not expect a material improvement in market fundamentals in 2018 due to lingering overcapacity. Both container and bulk show signs of a revival, but the longevity of this trend remains uncertain due to limited adherence to capacity discipline in the sector. Improving market sentiment and a focus on scale and vessel size have stimulated new orders. The supply and demand dynamics are likely to support container, bulk and LNG rates, but tanker rates could remain under pressure. The ...

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BMT Report: Oceanfoil Aerofoil Technology Achieves Average 14% Fuel And Emissions Savings

Analysis from leading ship designer and marine technical support engineers, BMT, has revealed that the wingsail technology, pioneered by maritime, design and technology company Oceanfoil, could achieve an average fuel consumption and emissions saving of 14% on a mid-sized tanker vessel and up to 20% in certain wind and sea conditions. The assessment considered a system of four Oceanfoil wingsails over the course of a year on a 183 metre, 50,000 tonnes deadweight (dwt) Panamax vessel operating in the north Atlantic. The results put renewable wind energy for ship propulsion ...

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