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Tag Archives: Tops

Newbuilding Ordering Activity Picks Up on Renewed Ship Owners’ Demand

Demand for newbuildings has slowly started to climb, as shipyards have started to increase their prices. It’s a sign that some ship owners have attempted to catch this trend in its beginning and procure vessels at the near historically-low levels of pricing, before more shipbuilders increase their prices. In its latest report, Allied Shipbroking said that “the newbuilding market has been seeing some slow sparks of life, though this is not the main driver behind the recent price hikes that have been noted on the offers from shipbuilders. The combination ...

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Dry Bulk FFA: Capesize Index is starting to show signs of holding within the support zone

Capesize Index Support – 10,862, 9,468, 6,570 Resistance – 13,772, 15,301, 19,602 Little has really changed on the index technical since last week. We noted that we were entering a support zone with the stochastic above 50, making this a dangerous area to enter a market short. Monday’s index was up nearly US$ 600 suggesting the downside momentum has started to slow. We have circled the candle as it is still very narrow. We maintain our view that market buyers need to see a bullish candlestick at these levels before ...

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A twist in the tail: DNV GL adds asymmetric stern to ECO Lines hull optimization service

Computational fluid dynamics (CFD) allows to assess the details of the flow. The colors denote the pressure distribution on the hull. A vessel with an asymmetric stern has a twisted aft shape that is designed to account for the differing flow conditions on each side of the propeller. The idea emerged in the 1960s, but due to the difficulty of manually developing the optimal shape, this design failed to make a large impact at the time. DNV GL has revisited the idea and, using high-fidelity computer fluid dynamics (CFD) in ...

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Tanker Market: Demand for Larger Tonnage On the Up

It seems that the recent surge of interest from ship owners regarding the acquisition of more modern tonnage was based on some interesting developments from the demand side of the market. In its latest weekly report, shipbroker Charles R. Weber said that “demand for VLCC and Suezmax time charters of at least six months heated up to unseasonable heights during March and April, after a very slow start to the year. The trend came as time charter rates corrected from temporary support received amid the strong final months of 2016, ...

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Dry Bulk FFA: Panamax Index Could Enter Correction Mode If Rates Fail to Stabilize in the US$ 9,400 to US$10,000 Range

Panamax Index Weekly Support – 7,237, 7,027, 6,459 Resistance – 9,400, 10,000, 11,084, 12,987 We continue to see lower pricing on the Panamax index and we are now nearing the 200 period moving average support at US$ 7,237. The stochastic is showing a bearish cross and at 71, this would suggest that current support levels could come under pressure in the near term. Having broken the US$ 8,857 support last week we have now created a lower low, highlighting the current technical weakness. The more major technical support levels to ...

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Growth in chemical tanker fleet trading in chemicals and vegoils to outpace CPP fleet

Demand for methanol and vegoil will moderately support global seaborne trade causing the shipping fleet trading in chemicals and vegoils to expand, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. The orderbook contains 144 stainless steel vessels totalling 3.4 mdwt for delivery by 2020, almost 22% of the existing capacity for such vessels; 63 of these vessels are in the size range of 25,000-40,000 dwt, while in the existing fully stainless steel fleet, there are 143 vessels in the size of 25,000-40,000 dwt ...

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30 VLCCs Ordered So Far in 2017 as Tanker Newbuildings Are Too Attractive To Be Ignored For Shipowners

More and more ship owners are actively looking to secure more tanker newbuildings, especially VLCC tonnage. In its latest weekly report, shipbroker Gibson noted that “the lull in new tanker orders last year coupled with accelerating pace of deliveries reduced the size of the orderbook, raising hopes that the rapid growth in fleet size witnessed currently will come to an end in 2018/19. However, the dynamics of the newbuilding market are starting to change again this year, with a notable increase in shipowners’ appetite for new VLCC tonnage. So far ...

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Upbeat crude oil tanker demolition goes against general trend

Four VLCCs have been sold for demolition since October 2016. Matching the number of VLCCs sold for demolition in the preceding two years. Most recently the 1999-built double-hull VLCC, with the framing name “Good News”, returned USD 15.5 million to the shipowner, as demolition prices have reached levels not seen since first half of 2015 (USD 400 per ltd). BIMCO’s Chief Shipping Analyst Peter Sand says: “January struck an upbeat tone for demolition in all sectors, but the overall pace of fleet renewal, via demolition, has slowed down since then. ...

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S&P Liquidity: The Shipping Market ‘Chameleon’?

Many of shipping’s asset markets appear to offer a fairly reasonable level of liquidity most of the time, but just like the “Karma Chameleon” in the 1983 No.1 song, sometimes this can “come and go” due to a variety of factors. Recently, it appears that S&P market liquidity has been coming on strong in the main volume sectors, and once again there appear to be a number of different drivers behind the changes… You Come And Go… As in all economic asset markets, liquidity can change its hue according to ...

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Chemical Tankers: Edible Oil Markets On a Downward Path, No Support Expected

Ship owners active in the edible oil sea transportation will have little to look forward to over the summer months, as news from various geographical fronts are less than ideal for the support of freight rates. In a recent weekly note, shipbroker Intermodal noted that “the overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports from S. America, which has provided owners with firm rates on the back of a busy CPP market until mid-April, there ...

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Tanker Ships Values Dropped in April, As Softer Rates Make Them Less Profitable

Tanker values have softened throughout April, except modern MR values which have firmed. This table shows the monthly % change in value from 1st to the 30th April 2017 for Tanker vessels, by year of build.   VLCC Values have softened. Samsung Heavy Industry has taken 8 Newbuild VLCC orders. 4 of which have been confirmed by BW Group and the other 4 units rumoured to Marinakis. Good News (314,300 DWT, 1999, Mitsui) sold for demolition for USD 400/LDT with delivery to Bangladesh. Many older VLCC’s circulating the market however ...

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The Arundel Castle – Definition of ‘Within Port Limits’

The recent case of Navalmar Uk Ltd v Kale Maden Hammaddeler Sanayi Ve Ticart As (The Arundel Castle) [2017] EWHC 116 (Comm) discussed the meaning of “within port limits” in an amended Gencon 94 charterparty form in relation to laytime and tendering notice of readiness. Facts The “Arundel Castle” found the port of Krishnapatnam congested upon her arrival and could not proceed straight to berth. Instead, the port authority directed the ship to an anchoring area. Owners tendered notice of readiness from the anchorage and the matter ended up in ...

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Tanker Market Bound For Further Softening If Opec Cuts Are To Be Maintained Says Shipbroker

The tanker market is faced with slow demand growth, which has led to a softening of the freight rate market over the course of the past few months. In its latest weekly note, shipbroker Allied Shipbroking said that “despite the efforts being made by oil producing nations and especially efforts being made by OPEC members, we have seen limited gains in terms of pricing for crude oil in the year to date. Despite most expectations that were being made during the end of 2016 of the average price of crude ...

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Dry Bulk FFA: Capesize Index Entering A Support Zone Says FIS

Capesize Index Support – 10,862, 9,468, 6,570 Resistance – 13,772, 15,301, 19,602, The Capesize index continues to retreat from recent highs and is trading at US$ 11,414. We have now entered into a support zone between US$ 12,345 and US$ 9,468. A 42% retreat in price would signal a bear market on any media outlet, however no lower highs keep us in a corrective phase, rather than a bearish trending market. The stochastic remains above 50, technically it remains in bullish territory. Volume as always in freight is declining on ...

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Capesize and Supramax Values On the Up Says VesselsValue

Bulker values have been variable this month. Capesize and Supramax values have firmed whilst Panamax and Handy vessels have stabilised in older tonnage. This table shows the monthly % change in value from 1st to the 30th April 2017 for Bulker vessels, by year of build. Bulker values have been variable this month. Capesize and Supramax values have firmed whilst Panamax and Handy vessels have stabilised in older tonnage. This table shows the monthly % change in value from 1st to the 30th April 2017 for Bulker vessels, by year ...

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