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Production cuts which were enacted at Tangshan, Tianjin, handan, wu’an, Shandong and Henan before the last week of the National Day holiday

As the fourth quarter gets into full swing, a degree of stability finally seems to be emerging in the subcontinent markets as a couple of sales

ShipsFocus Weekly Chemical Shipping Report, Week 38 2019

Steep declines in fronthaul iron ore spot voyage rates saw the SSY Atlantic Capesize Index fall by 522 points weekon- week to 11,135 points. The Atlantic round-voyage rate (180k dwt) was almost unchanged at

Further falls in spot voyage rates across the basin saw the SSY Pacific Capesize Index drop to a five-week low of 7,147 points, down by 834 points week-onweek, though still marking an annual gain of almost 2,000

With big changes coming in the refinery landscape in the future, ship owners active in the clean tanker market stand to benefit from longer ton-mile demand. In its latest weekly report, shipbroker Gibson said that “over the next 5 years, the global refinery landscape will continue to evolve, with the IEA projecting that over 9 million b/d of new capacity will be added, roughly twice the level of refined products demand growth over the same time period. With over two thirds of new capacity being added East of Suez, pressure ...

Recently Clarksons Research published the executive summary from their forthcoming semi-annual report ‘Shipping Review & Outlook’, which will be soon be available on the Shipping Intelligence Network. Introducing the summary, Steve Gordon, Managing Director of Clarksons Research commented, “Despite a range of economic “headwinds”, our overall earnings indicator, the ClarkSea, has continued to trend upwards this year, increasing 12% y-o-y (2018: up 13% y-o-y). In the tanker sector (up 75% ytd, albeit from a low base), our projections, recent Middle East disruption aside, suggest underlying improvements over the next twelve ...

Capesize The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at the beginning of this past week, it was unable to build any upward momentum and broke to the downside midweek. Brazil to China C3 opened the week at $25.89 to close out Friday at $23.705, while West Australia to China C5 opened at $10.923 to close at $9.145. Trade activity was moderate throughout the week in the Atlantic, while quieter in the Pacific. Bunker pricing for ...

The World Shipping Council (WSC), BIMCO, the Cruise Lines International Association (CLIA), and the International Parcel Tankers Association (IPTA) calls on International Maritime Organization (IMO) member states to fully implement the new global marine fuel sulphur cap mandated through the IMO. As of January 1, 2020, the maximum sulphur content of fuel consumed at sea will be limited to 0.50%, unless an exhaust gas cleaning system is used. The new rules, including the January 1, 2020, implementation date, have been known for a long time, and the industry has worked ...

VLCC The attack on Saudi Arabia led to volatile bunker prices and owners capitalised on this with Middle East Gulf rates for 280,000mt to US Gulf basis Cape to Cape now being rated up four points at WS 31 level, whilst 270,000mt to China gained around 15 points to WS 69 region. Rates for 260,000mt West Africa to China followed suit and last seen here was at WS 71, up almost 14 points. The market for 270,000mt US Gulf to China now sits at between $8.05 to $8.1 million in ...

Refinery outages in Saudi Arabia following weekend attacks on its oil facilities could deal a blow to the shipping industry’s preparations for the biggest switch in fuel standards in decades. Saudi Aramco, the state-run oil company, shut an estimated 40% of its refining capacity, roughly 1 million barrels per day (bpd), following Saturday’s missile and drone strikes on a major oilfield and the country’s largest processing plant. It remains unclear how long refinery output will be curtailed. The outage has crimped global supplies of diesel, which Saudi Arabia regularly exports ...

Rates in the VLCC sector continued their upward surge this week, eastbound levels pushing towards year-to-date highs, as WS levels

If you’re an owner in ocean shipping, you can hear the crickets on Wall Street. The pullback of activity in the U.S. capital markets this year has been staggering. Many of the equity analysts that covered ocean shipping at U.S. investment banks are no longer at those jobs. The question-and-answer periods at the end of quarterly conference calls have become very short because few analysts are left to pose questions. Shipping executives are compensating by spending more time filling out their conference calls by reading lengthy scripts about market conditions. ...

Over the next 5 years, the global refinery landscape will continue to evolve, with the IEA projecting that over 9 million b/d of new capacity will

China has taken fewer shipments of iron ore from Iran over August and September, according to Refinitiv Eikon data, as additional export tariffs due to be imposed by Tehran have dampened risk appetites in the world’s biggest steelmaker. Iran’s deputy minister of industries said earlier this month that exports of all steelmaking raw materials will be slapped with a 25% tariff to meet demand in domestic steel industry, according to Iranian state-backed media Press TV on Sept. 9. The tariffs, which will cover various products from Iran’s iron mills, including ...