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China’s Consumers Haven’t Been This Confident in Two Decades

With things looking up across China’s economic dashboard, sentiment among consumers and households is the strongest in more than two decades. The consumer confidence index climbed to 114.6 in July. That’s up from last May, when it dipped below 100, the line separating optimism and pessimism. “The strong job market and the associated robust income growth have supported consumer confidence,” said Robin Xing, the chief China economist at Morgan Stanley in Hong Kong. “Consumer confidence is further driven by the unleashed consumption potential in lower-tier cities,” he said, citing their ...

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Tanker Market Rates 13/09/2017

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Dry Bulk Market is Sizzling Hot on Coal and Iron Ore Trade Boom

Ship owners of dry bulk carriers are cheering the latest surge of the Baltic Dry Index (BDI), which reach a 34-month high on Monday. However, market observers and shipbrokers alike are warning that there’s still quite some way to go, before one can declare that the market is back to its former form. In a tweet yesterday, BIMCO’s Chief Shipping Analyst, Mr. Peter Sand, noted that it would take the BDI to reach 1,200 points, before profitability is achieved for dry bulkers across the board. Similarly, in its latest weekly ...

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Dry Bulk FFA: Capesize Index Due for a Correction

Capesize Index Support – 16,819, 15,493, 13,340 Resistance – 21,558, 27,866 Resistance at USD 21,558 Support 16,819 Weekly stochastic in overbought territory Daily stochastic in overbought territory The oversold stochastic on the daily has resulted in an upward move last week, and new highs were achieved. Technically bullish, both the weekly and daily stochastics are now in overbought territory. This is not a sell signal as price remains the lead indicator, however it does warn that the index is starting to look a little overextended once again. A close below ...

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A New Record: Containership Secondhand Sales

The volume of secondhand boxship sales reported in the first eight months of 2017 totalled 0.75m TEU, having already accelerated beyond the previous annual record level of 0.64m TEU set in 2015. March 2017 saw a new record monthly total, alone equivalent to about 40% of the full year 2016 sales capacity total. How has the boxship sale and purchase sector evolved over time to reach this magnitude? Reaching New Levels In TEU capacity terms, reported containership secondhand sales in the first eight months of 2017 increased by over 60% ...

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Which Sector should we invest in drybulk shipping, Kamsarmax?

Sentiment in dry sales & purchase market have been a bit improved recently and more dry bulkers physically has been under new ownership now, comparing last month. Most of all, kamsarmax newbuilding activities are noticeable this year and number of newbuilding orders made in last 3 weeks. Total 78 newbuilding orders made upto 5th September this year and that includes 44 kamsarmax bulkers, which consists 56% of total orders. (Please note that 44 was a total number of newbuilding orders in 2016.) Feasibility study of Kamsarmax Bulkers Wonder what made ...

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Freight rates up as Asia steps in to meet America oil products demand

With Asia turning out to be an important supplier of clean products to the Americas in the wake of Hurricane Harvey, the pattern of trade is changing and is pushing up freight rates in the bargain, market participants said. Amid a production-and-supply squeeze from the US, contracts to move gasoline and jet fuel from North Asia and Singapore to product-hungry South America, Mexico and the US West Coast have increased significantly. “The whole of South America and West Coast Mexico will have supplies from here and the market is very ...

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Baltic index drifts away from near three-year highs

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, snapped a six-day winning streak on Tuesday, weighed down by weaker rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended down 11 points, or 0.81 percent, at 1,344 points. It had touched near three-year highs on Monday. The capesize index broke a five-session gaining streak to close down 89 points, or 3.16 percent, at 2,724 points. Average daily earnings for capesizes, which typically transport ...

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ABS, GasLog Study Advances New Method to Predict LNG Boil-off Rate

ABS, a leading provider of classification and technical services to the marine and offshore industries, and GasLog LNG Services Ltd. (GasLog) have completed a joint development project demonstrating a new approach to evaluating LNG boil-off rate (BOR). GasLog is an international owner, operator and manager of LNG carriers, providing support to international energy companies as part of their LNG logistics chain. “By expanding the application of computational fluid dynamics (CFD) analysis to simulate the LNG BOR in cargo tanks, owners are able to better predict boil-off gas and account for ...

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Danish investors in bankrupt OW Bunker to sue IPO banks

A group of 24 Danish institutional investors in OW Bunker said on Tuesday it would sue Carnegie Investment Bank and Morgan Stanley , accusing both of misleading them about the 2014 listing of the now bankrupt marine fuel oil supplier. The investors, including two of Denmark’s largest pension funds, ATP and PFA, say they lost 767 million crowns ($123 million) after buying OW Bunker shares “on the basis of a prospectus which was insufficient in material aspects”. Denmark’s OW Bunker was valued at $1 billion when it floated in March ...

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New report examines future of autonomous maritime systems

Maritime activity over the next decade will be dominated by unmanned surface and underwater vessels, according to a report on the future of autonomous maritime systems launched today. Written and researched by Lloyd’s Register, QinetiQ and the University of Southampton, the report is a follow-up to Global Marine Technology Trends 2030, looking at how technology trends will impact upon the regulatory and social aspects of maritime operations. Tim Kent, Technical Director, Marine and Offshore, Lloyd’s Register, said: “Networks of autonomous surface and underwater vessels are set to radically change the ...

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Allied Shipbroking – Weekly SnP Statistics Report Week 36

Allied Shipbroking – Weekly SnP Statistics Report Week 36

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Avoiding the GDPR iceberg – data protection in the shipping industry

Businesses now have less than nine months to prepare for the EU General Data Protection Regulation (GDPR), which overhauls a data protection regime dating from 1995. The GDPR becomes effective across the European Economic Area (EEA), including in the UK, from 25 May 2018. It will also apply to a large number of businesses established outside of the EEA. With large potential fines (the greater of up to 4% of global turnover or 20 million Euros), risk of claims from individuals and reputational damage, businesses need to make the necessary ...

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Intermodal Weekly Market Report Week 36 2017 Broker’s insight

Some thoughts on North Korea, US & China. The trade volume between North Korea and China is more than $5 billion per year.

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Guidance for Carrying Cargo in Non-operating Refrigerated Containers Issued

Two leading container industry bodies, the Container Owners Association (COA) and the Cargo Incident Notification System (CINS), supported by the leading freight transport insurer, TT Club have published an in-depth guide for those seeking to use refrigerated containers in non-operating mode to carry commodities not requiring temperature control. The Guidelines give extensive advice on the risks involved and correct packing to protect both container and cargo. The use of ‘non-operating reefers’ (NOR) is common practice in the industry and has significant impact in reducing empty re-positioning costs for container operators. ...

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