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GMS Week 41 – RESISTANCE!

After a brief spike in the markets (which saw a few vessels sold at increasingly firm numbers, some of which even crept past the USD

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SSY ATLANTIC CAPESIZE INDEX 14 October 2019

After four consecutive weeks of decline, the SSY Atlantic Capesize Index resumed upward movement, rising by 530 points week-on-week to 9,866 points. There were increases of $3,500/ day and $1,750/day in the

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SSY PACIFIC CAPESIZE INDEX 14 October 2019

The SSY Pacific Capesize Index rose by 250 points week-on-week to 6,648 points. Although well below the recent peak of 8,307 points achieved in September, this was still up by 881 points on the year-ago

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Breakdown of weekly ship sales by type 7th – 13th October 2019

In the following table you will find the total ship sales for last week.

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Best Oasis Weekly Recycling Market Report, Week 41 2019

India Market: Ship plate prices in the local market at Alang are at flat levels to it’s previous weeks. On the other hand imports of containerized

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US Crude Exports Lead Tanker Demand to New Heights

With just a few years gone past since the opening of the US crude exports market, it has already managed to become one of the most important drivers of crude tanker demand. In its latest weekly report, shipbroker Gibson said that “without a doubt, the key driver of the growth in crude tanker demand this year has been US crude exports. Aframaxes have been by far the biggest beneficiaries of rising exports, both in terms of STS demand and actual trading. Volumes traded on Aframaxes averaged around 1.15 million b/d ...

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Dry Bulk Market: Capesize Market on the Mend

Capesize The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to China C5 route lifted early in the week, it once again topped out to soften by Friday. Opening the week at $9.168, the route lifted to $9.518, before closing at $9.227 by week-end. Out of Brazil, C3 managed to trade up from $22.018 to $27.782, mainly off the remaining October loading dates. C3 cargo liquidity into November is said to be less certain, with bids ...

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The impact of sanctions on the maritime world

In the past two years, the use of international economic sanctions has returned to the forefront of international relations and global geopolitical landscape. Driving this trend has been the United States’ (US) return to an aggressive foreign policy during the Presidency of Donald Trump. This has involved the re-imposition of sanctions previously lifted in countries such as Iran, Myanmar and Cambodia, and targeting new sanctions at countries deemed hostile to the Trump Administration. The United Nations (UN) and European Union (EU) have also continued with their own sanctions programmes. Effect ...

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Asia tankers: Q4 freight outlook positive on geopolitics, strong fundamentals

Asian tanker rates — both clean and dirty — have spiked since last month on strong fundamentals and geopolitical factors and the sentiment is likely to be firmer still in the fourth quarter, market participants and analysts said Wednesday. Attacks on Saudi oil installations and US sanctions on subsidiaries of China’s Cosco Shipping last month have seen supply squeezed and rates for most vessel sizes have hit their highest levels this year. To be sure, while the spike in bunker prices also raised operating costs, the recent downward correction coupled ...

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Tanker Market Rides on a High

VLCC In the last few weeks we have mentioned huge market improvements. This week’s activity puts those improvements into the shade. In the Middle East Gulf, rates have shot up around 100% from a week ago. 280,000mt to the US Gulf, via Cape to Cape, is now rated at WS 90 level, while 270,000mt to China last rated at WS 175. However, we hear rates have moved on to WS 205 and possibly higher still. In West Africa, rates for 260,000mt to China have risen to the WS 160 level. ...

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Asian oil buyers grapple with rising costs as global freight rates jump

Asian oil refiners are grappling with a jump in global freight rates that shows no sign of abating, driving up costs of crude imports from all regions in the fourth quarter, industry officials said. The cost of shipping crude from the Americas, Europe, Africa and the Middle East to Asia has surged over the past two weeks as companies shunned nearly 300 tankers on fears of violating sanctions against OPEC members Iran and Venezuela. Higher freight rates and a jump in crude premiums after the Saudi oil attacks in mid-September ...

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Weber Weekly Tanker Report Week 41 2019 – Spot Market Summary

Rates in the VLCC sector continued their resounding surge upwards, reaching what are arguably some of the highest levels on record. Returns

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Feature: Christmas comes early for tanker owners as freight rates skyrocket

Decade-high freight rates have been a boon for tanker owners but it is starting to squeeze trading houses, charterers and refiners, with analysts and market sources questioning how long the trend will persist. The spike in bunker fuel prices has been boosted by the nearing of the International Maritime Organization’s 0.5% sulfur cap, along with attacks on Saudi Arabian oil installations and US sanctions on subsidiaries of China’s Cosco Shipping. These factors have pushed freight rates to record highs, tightening tonnage in all vessel sizes and regions. The US clampdown ...

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Gibson tanker report – The Flood out of the US

Without a doubt, the key driver of the growth in crude tanker demand this year has been US crude exports. Aframaxes have been by far the

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U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said. The move has taken roughly 3% of the global oil tanker fleet out of the market, according to industry sources and data on Refinitiv Eikon, sending rates soaring to secure tankers to ship oil, particularly to Asia. “Freight rates are going through the roof and people are getting very nervous with the cost of shipping,” a crude oil trader in Asia ...

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