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Tag Archives: Tops

Shipping: Commodities’ Pricing Trends During First Half of 2017 a Mixed Bag Says Shipbroker

The shipping industry is directly linked with the prices of raw materials and commodities like oil, iron ore and coal, since they are the key ingredient to the products’ trading and as such, their transportation. As such, the evolution of pricing trends this year is key to understanding future demand for shipping services. In its latest weekly report, shipbroker Intermodal said that “having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodities acted during ...

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Shipping’s Half Year Report – Any Better This Year?

In last year’s half year shipping report, we reported on an industry that “must do better”. With the ClarkSea Index averaging $10,040 per day in the first half (up 2% y-o-y but still 14% below trend since the financial crisis) there are still many subjects (sectors) struggling for good grades as our Graph of the Week shows. But are there some that are showing a bit more potential? Don’t Rest On Your Laurels! A year on from record lows, bulker earnings remain below trend (defined as the average since the ...

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Crude oil tanker owners take advantage of low newbuilding prices

A prolonged period of weak contracting activity has forced shipyards to drop their newbuilding prices to levels not seen in decades. Crude oil tanker owners have decided to take advantage of the situation, despite the weakening earnings sentiment in their segment. The collapse of oil prices back in 2014 was undoubtedly great news for oil tankers. After years of stagnation, seaborne crude oil trade started to grow by over four per cent per annum. An increased demand for transport considerably improved ship earnings, which resulted in a wave of newbuilding ...

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Tanker Market Sentiment Weakens in June

Dirty tanker market sentiment was generally weaker in June, as average spot freight rates dropped on all reported routes. On average, dirty tanker freight rates declined by 17% from the previous month and spot rates for all classes went down. These negative developments came as the market suffered from limited activity prior to the summer months, while the increase in vessel supply remained a main influence on freight rate movements. Clean spot freight rates had a mixed performance, with some routes showing higher freight rates; however, these were relatively minor. ...

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Dry Bulk FFA: Supramax Market Looking for Upwards Momentum

Supramax Index Weekly Support –7,412 6,934, 6,680, 5,769 Resistance – 8,149, 8,282, 8,950 The Supramax index remains in range and below its 200 period MA. Although within its range there are signs that the upward move could have upside continuation. Price action on the daily chart is once again moving higher. A close above last week’s high of USD 8,149 would produce a higher low within the range, targeting USD 8,950 resistance. The daily chart has a swing high resistance at USD 8,282, a close above this level would confirm ...

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Liberia hails BWMC amendments as good for shipping and environment

The Liberian Maritime Administration has welcomed an agreement reached by the IMO Marine Environment Protection Committee (MEPC) on an implementation schedule for the Ballast Water Management Convention (BWMC) which broadly incorporates the terms of an amendment initially proposed by Liberia. It was decided at the 71st session of the MEPC (MEPC 71) in London that ships built after 8 September 2017 should have a ballast water management system (BWMS) installed upon delivery. Existing ships, however, will have until their first or second MARPOL Annex I IOPPC renewal survey after 8 ...

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Tanker Market: Low oil prices to be a “constant” moving forward says shipbroker

The low oil price environment which has been established over the past couple of years seems set to continue, according to the latest analysis from shipbroker Allied Shipbroking. In its latest weekly report it said that “it’s been another turbulent week for crude oil as the supply glut continues to overshadow the market causing many to wonder if a balance could be reached any time soon. With prices still persistently sticking to levels below US$ 50 per barrel and futures contracts still seeing further losses, it seems as though there ...

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IMO sulphur monitoring data analysis shows increase in average residual fuel sulphur content, product stem sizes down in 2016

The yearly average sulphur content of tested residual fuel oils increased to 2.58% in 2016, up by 0.13% from 2.45% in 2015, according to data provided to the International Maritime Organization (IMO) from four providers of sampling and testing services. Of the 143,141 samples tested, 0.53% exceeded the current 3.50% sulphur limit applying outside emission control areas (ECAs). The share of samples testing at or below 0.50% sulphur, meanwhile, was 1.81%. The sulphur distribution showed that 3.25% of the samples tested in the 0.50% to 1.00% sulphur range, 3.86% tested ...

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Dry Bulk FFA: Panamax Market Analysis

Panamax Index Weekly Resistance – 9,174, 9,803, 11,065 Support – 8,496, 7,931, 7,886, 6,281 Support held last week on the Panamax index, however we remain below the USD 9,174 resistance. Prices action remains above both the 50 period MA and the 8 period EMA and has now started to move higher. If the index remains at these levels (USD 8,803) then we will have a higher low in the market. This would suggest that we should test the upside resistance at USD 9,174 in the near term, with longer term ...

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Falling Capesize Rates Could Trigger More Scrapping Activity

The market for ships scrapping has been rather slow over the course of the past few weeks for a number of reasons, chief of which the shipowners’ reluctance to part with some of their older ships, but also because of the confusion reigning the demolition market at the moment. However, things could well be starting to pick up, as the continuous fall of the Capesize market, could trigger more sales. In its latest weekly note, the world’s leading cash buyer of ships, GMS said that “renewed sense of purpose and ...

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Asia Clean Tanker Market Outlook Q3 2017: MRs Are The Only Bright Spot

While the situation may not be as dire as the crude tanker sector, newbuilding deliveries are expected to continue to keep a lid on product tanker rates in Asia over Q3. The pace of deliveries is expected to pick up in 2H, bringing the net fleet growth for 2017 to 3-4%. Around 30% of expected LR2 newbuild deliveries and 25% of expected LR1 newbuild deliveries this year have taken place so far. On the demand side, higher June and July naphtha inflows from the West on the back of a ...

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IBIA: MEPC 71 – summary of key outcomes

IBIA has been fighting the corner for our members at the International Maritime Organization this week as its Marine Environment Protection Committee met for its 71st session. As the meeting draws to a close this Friday, here is a quick summary of some of the outcomes we expect is of most interest to our members. 2020 sulphur limit: MEPC 71 agreed to the draft justification and scope prepared by its Sub-Committee on Pollution Prevention and Response (PPR) to add a new item to the working agenda of the Committee with ...

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Shipowners Hunt for Newbuilding Discounts

Shipowners are actively looking for more bargains in the newbuilding markets ahead of the summer lull. In its latest weekly report, shipbroker Allied Shipbroking noted that “activity has continued to hold at a fairly good pace these past weeks, with a lot of interest seemingly centered around the ability to secure any discounted slots for older vessel designs. With the main driver being the pricing aspect, it is difficult to see how this positive trend in buying interest could continue for much longer. Prices being quoted by shipbuilders are likely ...

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Greece As A Shipping Cluster Needs More Work To Succeed says EY Report

Over the last decades, the global shipping industry has been one of the major factors of the globalization process. At the same time, the shipping industry is itself being transformed by growing international trade, market integration and the shifting balance of economic power from developed economies to rapidly growing lower wage economies. As shipping-related economic activities are also becoming more globalized, cities and states have to compete to attract international maritime companies. Traditional shipping clusters in Europe are being successfully challenged by countries and cities in the developing world, primarily ...

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Nearly three quarters of cargo ships over 20,000 gt compliant with ECDIS deadline

Almost three-quarters of cargo ships over 20,000 gross tonnage are already compliant with the SOLAS-mandated Electronic Chart Display and Information System (ECDIS) deadline of 1st July 2017, according to the latest figures published by the United Kingdom Hydrographic Office (UKHO). The UKHO estimates that a further 3,828 cargo ships over 20,000gt are yet to make the transition to using an ENC (Electronic Navigational Chart) service and therefore do not yet meet SOLAS (Safety of Life at Sea) regulations on ECDIS carriage. The amendment to SOLAS Chapter V regulation 19.2 requires ...

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