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Tag Archives: Tops

Newbuilding Orders Still Scarce As 2019 Edges Closer

Newbuilding contracting was once again far from brisk over the course of the past week, following the trend set recently. In its latest weekly report, shipbroker Allied Shipbroking said that “limited newbuilding activity this past week for the dry bulk sector, as sentiment seems to have been negatively affected by the current market volatility and poor freight rate performance. Two new orders (for 2 Supramax and 2 Kamsarmax respectively) were the only bulk carriers orders that were reported last week, ordered in Japanese and Chinese shipyards respectively. Concerns for temporary ...

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Fitch Ratings: Demand Risks Weigh on Global Shipping Sector Outlook

The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings says. Higher fuel costs and sulphur regulation will also put pressure on shippers. Partly offsetting an unfavourable environment are emerging signs of better capacity management by shipping companies, which is key to a sustainable balance and freight rates that support consistent profitability. We expect better fundamentals in container and dry bulk, while capacity growth will weigh on tankers. The key risk to shipping is an escalation of protectionist measures that would ...

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No Scrubs: More Ports Declare Ban on EGCS Discharges

Singapore has joined the list of ports that will ban the use of open loop scrubbers in their waters. Exhaust gas cleaning systems (EGCS) – more commonly referred to as scrubbers – are an accepted equivalent measure in complying with the IMO 2020 global sulphur cap. The use of scrubbers has split the shipping industry. Ports around the world are looking at the impact of scrubber use in their waters. A number of ports and regions have already stated that they will not allow the discharge of washwater from scrubbers. ...

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The questions to weigh before ordering a newbuilding tanker

Placing a newbuilding order is a complex enough procedure on its own merit, given the fact that a ship owner has to accurately predict the market a few years down the line. But in today’s business environment, these decisions have additional layers of complexity, after the latest regulatory regulations on reducing shipping emissions. In its latest weekly report, shipbroker Gibson said that “ordering a new tanker is undoubtedly a big decision. More often than not the investment is driven by robust industry earnings, although at times the main reason is ...

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Trump’s trade war sees US soybean exports heading south

But a weaker Q4 for smaller dry bulk tonnage should be followed by a stronger Q1 and Q2 as seasonality returns amid trade disruption London, 3 December 2018. Two months into the current US soybeans trading year, the impact of president Donald Trump’s trade war is becoming more apparent, according to the latest Dry Bulk Freight Forecaster from Maritime Strategies International*. US exports between September and October have dropped by 41% year-on-year, but whilst there is a significant drop in exports to China (down 96% yoy), there is an increase ...

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Digitalization is key for sustainable shipping success

With the international push to achieve more sustainable shipping and more stringent shipping regulations, the shipping industry—from designers and builders to shipyards and ship owners—faces increasing pressure to improve fuel efficiency and reduce emissions. The shipping industry will also need to address ways to eliminate the release of waste (such as oil spills), manage ballast water in a way that doesn’t disrupt local ecosystems and reduce noise pollution that harms marine life. The shipping industry must move away from traditional approaches to digital simulation to meet sustainable system requirements. By ...

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The Dry Bulk Market Moving Forward: 2019 To be A Mixed Bag If China’s Economy Doesn’t Pick Up Steam

The effects of an ongoing trade war are starting to have an impact on the dry bulk market, while the gradual halting of demolition activity also had an adverse effect on freight rates. Still, 2018 has to be seen as a positive year for the market. In an exclusive interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com) Mr. Ralph Leszczynski, Head of Research with shipbroker Banchero Costa said that “the ballast water regulation and IMO 2020 rules will lead to a pick up in demolition activity. Higher bunker costs should exacerbate ...

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Nordea: Global economy looks to shipping as trade war reverberates

There are numerous barometers out there that offer a window to the global economy. The oil price is one. Gold is another. Those of an FX bent might prefer EUR/USD, USD/JPY or even GBP/USD, although the UK’s Brexit travails may have marked that particular pair as a rather unreliable narrator of potential shockwaves ahead. And then there’s the not quite so sexy. Bond yields probably fall into that category. So too does shipping. You rarely see the latter hog the headlines, but with something like 90% of global trade borne ...

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Dry Bulk Market: Capesizes Had a Roller-coaster Week

Capesize A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week closed out. The West Australia/China rates nudging $9.00 by Tuesday having closed out the previous week at near $6.00 and finishing in the mid $7.00 with rumours of a lower price agreed. The Tubarao/China rate whiplashed from $15.00 to $18.00 to $15.00 in a week – and some expecting it to go lower. Vale made a last-minute appearance in the market, fixing at ...

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Aframaxes Are Now the “Darlings” of the Tanker Market

The Aframax tanker class is becoming the latest “success story” in an otherwise turbulent year for the wet market. In a recent analysis, shipbroker and tanker market specialist Charles R. Weber noted that “the recent rallying of the dirty tanker market has seen Aframax average earnings jump to nearly a three‐year high of ~$33,875/day during November.    The resulting premium of Aframax earnings to LR2 earnings – which at $18,155/day is also at a near three‐year high – has reignited discussion around the ability for LR2s to opportunistically migrate from ...

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Trade War Leading To Headwinds For The Fragile Dry Bulk Recovery

The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which are 43% lower than in the same period last season. Down from 21 million tonnes of accumulated exports by 23 November 2017 to 11.9 million tonnes by 22 November 2018. A loss of 122 Panamax (75,000 tonnes) or 183 Supramax (50,000 tonnes) loads. “Tonne mile demand is further hurt as not only are the volumes of US soya bean exports lower than last year, ...

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Shoring up early principles

For some time the question of whether the Monroe v Ryan [1935] 2 KB 28 authorities apply when there is neither a loadport Expected Ready to Load Date (“ERTL”), nor Estimated Time of Arrival date (“ETA”), has been open. The question of course touches upon the allocation of risk before a vessel enters into its chartered service, particularly where Owners have agreed to take on, or are already engaged in, a preceding fixture. The Court of Appeal has affirmed that the duty arises even without the ETRL/ETA, and the Parties ...

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Lackluster Dry Bulk Market to Persist to the End of 2018

Is it the trade war, or a shift in market fundamentals (supply-demand)? Whatever the case, the recent freefall of the dry bulk market came as a surprise or maybe not?. In its latest weekly report, shipbroker Allied noted that it was “a month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shifting rapidly from a state of extreme bullishness to bearish in no time at all. Not long-ago, statements like robust sentiment, modest orderbook, sustainable fleet development, robust global economic ...

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Bulk Carrier S&P on the up despite market low point

In recent weeks we have seen a steady increase in Sale and Purchase (S&P) activity, despite the downward pressure that the dry market has been experiencing both on the spot and period front. The sentiment for the short-term also seems to be positive with interest in sale and purchase expected to continue until the end of the year. Dry time-charter rates plunged to the lowest point of the year last week, with the one-year time charter rate for capes in the Atlantic at $14,800/pdpr, a fall of almost 30% from ...

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LNG: The Fuel Choice of Today

A push for cleaner burning fuel in the far east has led to increased demand for Liquified Natural Gas (LNG). LNG shipments have historically represented a small fraction of global energy shipments by sea in the past. Converting the light Methane molecules to a liquid form require highly specialised and costly liquefaction equipment. In the past the difficulty of transferring cryogenic fuel around by sea has limited uptake of projects. Shoreside pipelines cost less. The changing global demand is shifting trading back into the sea lanes though. The demand in ...

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