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Tag Archives: Tops

Demolition Market: After Pakistan, Here Comes China to Shift the Market Again

For weeks, the main story in the demolition market was about Pakistan. This time around the “tune” of the market is heading further more to the East. In its latest weekly report, shipbroker Clarkson Platou Hellas highlighted this very fact, by noting that “the main talking point in the recycling world last week has been the surprise announcement that China is to cease the permitting of international flagged ships for recycling into the country from the beginning of 2019. Obviously, Chinese flagged vessels will still be allowed to be dismantled ...

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The Good, the Bad, and the Ugly

Our COO Adrian Economakis presented recently on the ‘The Strength of Recovery in the Shipping Markets’. Using VV data we summarises the Good, the Bad and the Ugly of the shipping markets. THE GOOD Two years ago the Bulker and Container markets were in a sorry state, fast forward to today and the market has significantly improved, with upside remaining. Over the past twelve months Panamax container ships have seen a rebound in asset values of about 40 pc for a five year old ship over the past year . ...

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Dry Bulk FFA: Panamax Index Still Bullish

The index remains in bullish territory above the 8 and 21 period EMA’s on the weekly chart. We are seeing a momentum slowdown on the daily technical but remain bullish above the USD 10,995 low from last week. Below this level the technical picture becomes weaker as the market will have created a lower high. The June 18 futures (rolling front month) are stuck between two Fibonacci levels and have formed a neutral pattern. Technically neutral to bearish based on price action but oversold on the stochastic. Directional bias will ...

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Specialized Ships On the Shipbuilding “Menu”

Newbuilding ordering activity has shifted towards more specialized vessels according to shipbroker reports this week. Allied Shipbroking said that “it was yet another week with a fair flow of new order deals coming through, though this time around it was a case of more specialized units taking the lion share, with a hand full of tanker and containership units showing up at the same time, while the dry bulk sector was showing no fresh activity this time around. The overall messages being thrown are still fairly mixed, with the weaker ...

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The Trade War Is All About The Eastbound Transpacific Trade Lane

When two of the world’s top trading partners, get entangled in a stand-off, where the outbreak of a trade war could become the extended tool of intense negotiations, we’d better prepare for what may come. While hoping that it will never take place. The US is China’s largest trading partner measured by value – and China is the largest one-country trading partner that the US has. “The global shipping industry naturally gets concerned when two nations of huge importance to most shipping sectors get in the ring to fight a ...

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“Time is Fast Running Out” for Global Sulphur Cap says ICS Chairman

“Time is fast running out” for implementation by IMO Member States of the 0.5% global sulphur in fuel cap by 1 January 2020, says Esben Poulsson, Chairman of the International Chamber of Shipping (ICS). The IMO global sulphur cap for marine fuel is expected to see shipping’s bunker prices increase significantly. “While ICS fully supports the objectives of the IMO cap, the overnight introduction of this regulatory game-changer will have enormous implications for ship operations. It will be vital to get the implementation right.” “As well as concerns as to ...

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Tanker Market and Venezuela: Again…

The impact of Venezuela’s reeling oil industry on trade patterns on the tanker market has been well documented since the country’s “fall from grace” a few years back. Things are once again heating up, bringing shifts on the freight market. In its latest weekly report, shipbroker Gibson noted that “later this month the people of Venezuela will once again be heading to the polls to vote in Presidential elections. Whatever the outcome of the vote, the next government will be facing significant challenges over the next few years. The Venezuelan ...

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Dry Bulk FFA: Panamax Index Still Bearish

Highlights: The Panamax index remains in bearish territory and is now looking to test the long-term range support. The RSI and Stochastic are signalling a trending environment and we will need to see price action make a new high for the technical to be regarded as bullish. The May futures remain technically bearish. However, there are signs that momentum is slowing down based on price action and the 21 period RSI as we approach long the rolling contract support. The Q3 futures remains below its key averages which keeps the ...

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Greek Ship Owner Eletson Corporation Teams Up With Brightwell on Cashless Payments to Crew

Eletson Corporation is leading the way in adopting cutting-edge technology to improve the lives of their seafarers and increase payroll efficiencies. The introduction of Brightwell’s cashless facilities for masters and crew reduces the need for cash on board – and the associated costs and risks that come with it. Vasilis Hadjieleftheriadis, Vice President of Eletson, states “Cash on board vessels is both a risk and a cost to managers and owners alike. We’re delighted to work with Brightwell who offers a unique solution which benefits both us and most importantly ...

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Shipbroker Sees Upwards Correction on VLCC Rates

It’s been a mixed bag for the tanker markets this week, but more upside could be on the way. In its latest weekly report, shipbroker Affinity Research said that “in Suezmax markets, the TD20’s dramatic collapse was perhaps halted by busy WAF & Americas/East VLCC markets, which could firm & cause inquiry to return to Suezmaxes. West Africa can be considered flat at best. There is currently limited inquiry but prompt fixing & prospect of returning barrels holds the market to some degree. We also expect some potential upwards correction ...

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Dry Bulk Market: Capesize Rates On a Roll

Capesize A positive end to the week for the big ships with gains particularly in the East, on the key West Australia/China run and the majors and operators in the market. Rates nudged the high-$7.00s for mid-May dates, and with two of the major Australian miners allegedly fixing six ships apiece on one day. A very well described 180,000 tonner, open Xiamen, fixing a West Australian round at $20,000 daily, and a 175,000 tonner, agreed $16,400 daily basis Qinhuangdao, delivery 7 May for similar business. There was also increased activity ...

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The IMO’s 2018 climate agreement explained

How ambitious is this agreement? The IMO deal reached in London represents a significant shift in climate ambition for a sector that accounts for 2-3% of global carbon dioxide emissions. It sets an emission reduction pathway of “at least” 50% on 2008 levels by 2050 with a strong emphasis on increasing the cut towards 100% by 2050 if this can be shown to be possible. This is approaching the ambition of the UN’s 2015 Paris Agreement. While we can say this deal puts shipping on course for a 2C pathway, ...

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Low orderbook bodes well for Product Tanker Long-Term Prospects

Despite short-term lackluster performance, the existing fundamentals seem to indicate a brighter long-term future ahead for the product tanker market. According to the market outlook released this week by shipowner Capital Product Partners, “product tanker spot rates remained on average at similar levels to the previous quarter and overall below historical averages. Global refinery throughputs declined from the record levels seen in the fourth quarter of 2017, partly due to refinery maintenance in certain regions, reducing product export volumes and subsequent demand for product tankers during the quarter. Enquiries for ...

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Dry Bulk FFA: Capesize Bullish But With a Catch

The Capesize index is technically bullish but has the potential to produce a bearish divergence on the 21 period RSI and the stochastic above USD 18,192. A close below USD 16,890 would create a lower signalling a corrective phase within a bullish trending environment. The May futures remain technically bullish having created a fresh market high. However, like the index we are seeing a bearish divergence in the market indicating a potential weakening in upside momentum. A mixed technical picture on the Q3 futures as price action is technically bullish, ...

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Trading on “Highway H2O”

Every year in April, the Great Lakes of North America open up for seaborne trading as the winter ice melts. Maersk Tankers operates in the Great Lakes, bringing in products to support the region’s local industries and energy demands. The bi-national Great Lakes region is home to more than 100 million people and is of high economic, industrial and agricultural significance. To enable seaborne transportation to, from, and within the region, the 3,700 km-long St. Lawrence Seaway – also known as “Highway H2O” – runs between Canada and the United ...

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