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Tag Archives: Tops

Ship Recycling: Limited Activity Remains the Norm

The ship recycling market is still exhibiting limited activity all around. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the ship recycling market remained largely inactive across all major destinations this week, with no significant improvements or sharp declines. In India, the market remained unchanged from the previous week, with stable prices and no shift in the availability of imported scrap. However, anticipation is building around the Union Budget 2025, as industry participants expect potential measures to regulate rising steel imports, which ...

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Dry Weekly Market Monitor: Coal Dry Bulk Flows | U.S. – Europe Market Analysis

The total coal shipment volume from the U.S. to Europe in 2024 is estimated at 25.2 million tonnes, reflecting a decline from 2023, which recorded 26.4 million tonnes. This marks a 4.5% year-over-year drop in total coal exports, suggesting a potential weakening of European demand for U.S. coal, possibly due to factors such as regulatory changes, energy transition policies, or economic slowdowns. In 2023, the highest shipment volume occurred in January, surpassing 3 million tonnes, with relatively stable flows throughout the rest of the year. Data for January 2025 reveals ...

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Shipping lines braced for change as Trump’s tariffs target the EU

President Trump’s latest trade tariff salvo took aim at the EU, confirming his long-held promise to increase levies on exports to the US, as he seeks to redress trade imbalances and protect domestic markets. In the same breath, he added that a deal between the UK and US ‘could be worked out’, a statement that was as foreboding as it was vague. While this particular missive was light on detail, there is little doubt that the imposition of tariffs will trigger disruptions in the global shipping market, the ramifications of ...

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Container Ships Are Dominating Newbuilding Orders

Container ships have been dominating newbuilding ordering activity over the past week. In its latest weekly report, shipbroker Banchero Costa said that in the newbuilding front, “CMA CGM dominated the week with a $2,59 bln deal. Hyundai group will deliver 12 dual fuel LNG x 18,000 TEU container ship to the French owner within December 2028. Candler Schiffart placed an order for 2 x 12,000 dwt MPP at Jiangxi New Jiangzhou Shipbuilding, deliveries are expected by the end of 2027. Last relevant order was placed by Peter Dohle for 3 ...

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Chinese vessel orderbook tops $123 billion

To mark the Lunar new year, we take a look at the Chinese newbuilding orderbook, using VesselsValue data. The infographic highlights the Chinese orderbook by top Chinese ordering companies and insight into the ships currently being built at Chinese yards. Of the top Chinese companies ordering vessels last year, China Merchants Shipping ranks first, with contracts agreed for 28 new vessels—worth an impressive USD 4.4 bn. This investment is mainly in the Tanker and LNG sectors, which each accounted for a share of c.33%, but also included new orders for ...

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Ship waste, marine casualties and regulatory requirements as to shipment notification and consent

On 5 February 2025, the UK Supreme Court will hear the appeal in the MSC Flaminia. In brief, following a fire and explosions on board the Flaminia, the owners incurred various salvage and other expenses which they sought to claim from the time charterers, who were found liable for the owners’ losses arising out of the fire and explosions. The time charterers sought to limit their liability to the owners. The Admiralty Court and Court of Appeal found that they could not do so. The Supreme Court will now decide ...

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Shipping: More Demolition Activity Could Provide Relief

A rise in the subdued demolition activity could provide a significant relief to the shipping markets. In its latest weekly report, shipbroker Intermodal said that “building on our previous report, in which we analyzed the projected bulk carrier deliveries for 2025, and considering the current downturn in the freight market, an increase in demolition activity could serve as a positive development within the ship-owning industry. Among the two conventional sectors, the dry bulk market is currently experiencing a challenging environment, marked by weak demand and anticipated vessel deliveries that will ...

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New study shows that only targeted subsidy for e-fuels coupled with a GHG levy would ensure e-fuel early adoption

A new report from UCL Energy Institute Shipping and Oceans Research Group and UMAS reveals significant risk in some of the options the International Maritime Organization (IMO) is considering, for enabling shipping’s energy transition. The analysis comes at a crucial time as the IMO prepares for key negotiations in February and April 2025 to finalise the mid-term measures for reducing GHG emissions. The study finds that a fuel standard (the GFS – Global Fuel Standard) in combination with a flexibility mechanism, even with a multiplier that ‘boosts’ the credit given ...

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Decarbonisation: the shipping industry’s most pressing challenge in 2025

Navigating the future of sustainability in shipping through biofuels, ETS taxation and emissions certificates. In the last few years, heavy emitters have witnessed the development of decarbonisation solutions, with financial markets facilitating connections between low-carbon fuel producers and consumers, offering solutions for a rapid scale-up and comprehensive adoption. Heavy industry, including shipping, is responsible for approximately 40% of global CO2 emissions. While there exists no single solution to decarbonise heavy emitters, a combination of smaller ad hoc initiatives can add up to a broad shift away from fossil fuels across ...

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VLCCs Could be Set for a Stellar 2025

The VLCC tanker market could be primed for a very good year, in terms of performance. In its latest weekly report, shipbroker Gibson said that “VLCCs are enjoying a moment in the spotlight. A low orderbook and sanctions news have put a spotlight on the largest asset class in the tanker markets. However, the outlook for VLCCs has been promising before and freight rates have consistently underwhelmed. Is it finally time for VLCCs to shine? First, let’s have a look at the supply side. Just one VLCC was delivered in ...

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Dry Bulk Shipping: Capesizes Still Under Pressure

Capesize The Capesize market faced a subdued week, with the BCI 5TC steadily declining from $7,946 on Monday to reach $6,977 by Thursday. However, a modest recovery towards the weeks end lifted the 5TC to $7,252. The Pacific market remained under pressure, exacerbated by the Chinese New Year holidays, which significantly reduced fresh cargo availability. While a handful of miners were active, fixtures remained sparse, and rates softened. However, late in the week, the market saw a slight rebound as two miners re-entered the market, lifting the C5 index up ...

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Los Angeles wildfires – A catalyst for breakbulk shipping demand amid rebuilding efforts

The recent wildfire in Los Angeles is expected to drive up import demand for bulk and breakbulk commodities in the US, while export numbers could decline. Rebuilding the region will aid the need for construction materials, generating demand for bulk and multipurpose shipping. The wildfire has caused severe damage, affecting thousands of homes and businesses. AccuWeather estimates the cost of the disaster at $250 billion to $275 billion, while Goldman Sachs considers this one of the costliest natural disasters in US history. As an aftermath, the region will need massive ...

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Dry Bulk Shipping: Brazil’s Iron Ore Exports to China on the Rise

Demand for Brazil’s iron ore, most notably from China rose by 4.1% during 2024. In its latest weekly report, shipbroker Banchero Costa said that “2024 was another positive year for global seaborne iron ore trade. In Jan-Dec 2024, global loadings of iron ore increased by +2.3% y-o-y to 1,669.2 mln tonnes, based on AXS Marine vessel tracking data. This builds on the +5.1% y-o-y growth recorded in 2023. Exports from Australia increased marginally in Jan-Dec 2024 by +1.3% y-o-y to 927.4 mln tonnes. From Brazil, exports surged by +5.0% y-o-y ...

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Greek shipping magnates top tanker newbuild order rankings in 2024

A record number of new tankers were ordered in 2024 with 435 orders placed across the year, an increase of around 31% year-on-year according to according to Veson Nautical’s ‘2024 End- Of-Year-Report’. The report, compiled by Veson’s data and intelligence arm VesselsValue, states that the growth in the tanker newbuilding sector was driven by high demand, fleet renewal, and a focus on compliance with green regulations as well as continued elevated ton- demand for this sector and strong resale values. “The tanker newbuild sector was very active in 2024, especially ...

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Tanker – Weekly Market Monitor: Dirty Oil Flows and Tonne Days (Arabian Gulf – Far East)

January closed with weakening momentum in the dirty freight market, as the growth rate of demand tonne-days has yet to support a notable recovery. However, there are encouraging signs on the supply side, with vessel availability in the Arabian Gulf (AG) trending downward. Additionally, January saw an improvement in AG dirty oil shipments to Far Eastern destinations, with an 8% increase in December 2024 volumes compared to November and a significant 17% rise compared to January 2024. Examining the VLCC demand tonne-days growth from the AG to the Far East, ...

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