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Tag Archives: Tops

Shipping: Freight Rate Market Uncertainty to Dominate 2025

Uncertainty is bound to be the mainstay of 2025, when it comes to the freight market direction, both the dry bulk and the wet ones. In its latest weekly report, shipbroker Xclusiv said that “the dry bulk market has witnessed a sharp decline in freight rates across various vessel segments in the lead-up to the Year of the Snake, coinciding with the traditional Chinese New Year shutdowns across businesses and industries. Capesize rates have taken a significant hit, with the 5TC Average closing the week at 8,156 USD/day, a 29% ...

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BIMCO Dry Bulk Market Report: Return to the Red Sea would weaken market

We expect a weaker supply/demand balance in 2025 and 2026 than in 2024, even if ships do not fully return to the Red Sea. In this report, we are working with two different demand scenarios, depending on when ships can fully return to the Red Sea. For our main scenario, we assume ships may gradually return to the Red Sea over the first half of 2025. In this scenario, the ceasefire agreed between Israel and Hamas leads toward an end to the conflict in Gaza and the Houthis are not ...

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Peace at Red Sea unlikely to scramble LNGCs to change course

The ongoing truce and ceasefire agreement between Israel and Hamas has sparked speculation over the resumption of ships’ passage through the Suez Canal. Although the truce seems to bring some respite to regional tensions, the complete functioning of the Suez Canal will be a mixed bag for LNG shipping. While the resumption of transit via the Suez Canal could accentuate the role of Qatari LNG exports to Europe, cargoes from the US to Asia will likely continue transiting the COGH, conforming with shipping economics. Meanwhile, the risk associated with the ...

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Global Ship Recycling Market Still Under Pressure

The global ship recycling market has been under pressure during the start of 2025, following the overall trend of 2024. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the global ship recycling market continues to struggle, with weak demand and declining prices across all key destinations. In India, conditions worsened as cheap imported steel flooded the market, preventing any recovery. Bangladesh saw recyclers buying at lower prices amid stalled development and political uncertainty, with demand unlikely to improve even with LC availability. ...

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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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Dry Weekly Market Monitor: Capesize Market Insights

The momentum in the freight market has weakened as we approached the end of January and the onset of the Chinese New Year. The prevailing oversupply situation continues to significantly pressure market sentiment, compounded by a decline in demand for tonne-day growth. In the Capesize segment, we have observed a clear downward trend in tonne-day growth for shipments from Brazil to China, with the performance of the BCI (Baltic Capesize Index) dropping nearly 50% compared to the levels recorded at the same time last year. As the freight market continues ...

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Shipping: More S&P Deals Coming Through

More and more deals are being reported in the S&P market, as things are starting to heat up. In its latest weekly report, shipbroker Banchero Costa said that “in the Ultramax segment NORD MAGELLAN 63,000 dwt 2020 Iwagi built (SS due 2025 BWTS fitted) was reported sold to Meghna Group for $29,2 mln, $3,3 mln less than ERIN MANX 63,000 dwt 2020 Tsuneishi built that changed hands back in November. After offers were invited last week, the Supramax JASMINE 56,000 dwt built 2012 Mitsui built (SS due 2025 BWTS fitted) ...

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Charting the 2025 maritime regulatory landscape

Below, we look at several of the more important domestic and international regulations with amendments that enter into force in 2025. We encourage members and clients to ensure that their crew and shore staff are familiar with them prior to their entry into force. It is believed that there is a global trend for environmental regulations to become stronger every year, so it will be necessary to continue investigating these trends. 1 January 2025 MSC.539(107): IMSBC Code amendments (07-23) These amendments were initially voluntary, effective 1 January 2024, but became ...

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BIMCO: Grain shipments to China drop 51% amid low demand

“In January, grain shipments to China are estimated to fall 51% y/y, partly due to a decline in import demand for soya beans caused by low crusher margins. Although Chinese soya bean production decreased 1% y/y in 2024, inventories are high after a surge in imports in the first half of the year. Import demand for maize and wheat has also declined due to record high harvests in China in 2024,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO. As the world’s largest grain importer, China has for a long ...

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Global Demolition Activity in 2024 Down to 368 Units

The global demolition activity declined to 368 units being demolished during 2024, versus 449 in 2023 and a further 414 in 2022. In its latest weekly report, shipbroker Intermodal said that “in June 2025, the Hong Kong Convention (HKC) is set to enter into force, establishing a regulatory framework for shipowners and shipyards towards an environmentally sound and safe ship recycling. Although the convention was initially adopted in 2009, the entering-into-force criteria were met in June 2023 following ratification by Bangladesh and Liberia. In brief these criteria include (i) at ...

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The Red Sea crisis – not the sole reason for higher ship operating costs

The re-routing of merchant ships around Cape of Good Hope instead of crossing the Bab-al-Mandab has not only led to significant changes in trade patterns and tonne-mile demand, but has also resulted in certain operational challenges, especially regarding the procurement of certain Stores and Spares items. The Port of Suez had been used as a main procurement hub by many vessel operators crossing the Suez Canal with their ships before re-routing. For these operators, the current number one alternative is South Africa, where prices can be significantly higher, albeit – ...

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Five ways to cut emissions from shipping

Shipping generates 3% of global greenhouse gas emissions. This could increase to 10% if current trends continue, according to Transport & Environment – a non-profit organisation dedicated to decarbonising transport in Europe by 2050. To alter course and reach the International Maritime Organization’s net zero target around 2050, shipping must adopt major changes and embrace large-scale innovations. Here are five ways the industry could respond. 1. Slow down at sea The simplest, quickest way to minimise emissions is to reduce a ship’s speed. This practice is known as slow steaming. ...

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Tankers and the Trump Presidency

The tanker market could be impacted by the shape of the US policies moving forward, under the new Trump presidency. In its latest weekly report, shipbroker Gibson said that “following a very impactful end to the Biden era, the oil and tanker markets expected Trump’s second stint in the White House to start where Biden left off. Yet, for all the jaw dropping executive orders issued on other unrelated topics, the shipping and energy markets so far seem to have missed out on any immediate impact. However, even if the ...

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Dry Bulk Shipping: Capesize Market Under Pressure

Capesize The Capesize market endured a challenging week, with a steadily declining trend across the board. The BCI 5TC shed $2,852 over the week, closing at $8,156. In the Pacific, miner activity remained sparse, with only one miner consistently present. Fixtures from West Australia to China hovered in the low $6.00 range early in the week but slid to $5.85 by the end of the week. While cargo volumes appeared stable, limited demand and increasing tonnage weighed heavily on sentiment. The South Atlantic showed initial promise midweek, driven by fresh ...

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The shipping sector must reach net zero by 2050. Here’s how scalable maritime green fuels will help

The maritime industry represents a backbone of global commerce, with approximately 100,000 shipping vessels traversing the oceans at any given time, connecting continents and forming logistical networks. However, in light of the impending climate crisis, the sector confronts a pressing challenge: the International Maritime Organization (IMO) has mandated a reduction in carbon intensity by 40% by 2030 and achieving net-zero emissions by 2050. It is evident that this can only be accomplished through a transition to scalable green fuels. Green methanol or blue/green ammonia One promising substitute for fossil-based maritime ...

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