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Tag Archives: Tops

Dry Bulk Market: India’s Coal Imports a New Factor

India’s urge to increasse coal imports, could prove a boon for the dry bulk market. In its latest weekly report, shipbroker Banchero Costa said that “according to a recent Reuters article, India’s government has urged its local officials to step up coal imports over the next three years to build up inventories. The decision to boost imports underscores the severity of India’s fuel crisis as coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is seen rising at the fastest pace in nearly ...

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Decarbonising global shipping

COP26 focused global attentions on the urgency of net zero targets. Since, the International Maritime Organization (IMO) has come under pressure to go beyond its initial target of halving emissions by 2050, towards a commitment to zero emission shipping. Maritime transport is responsible for about 940 MT of CO2 annually and approximately 2.5% of global greenhouse gas (GHG) emissions. Without mitigation measures, there are concerns that shipping’s share of carbon could increase. International shipping is also on the rise: global maritime trade is expected to expand by nearly 50% by ...

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Shipping decarbonisation shout for new technologies: developing passive air lubrication

In 2019, the European Green Deal was adopted to make Europe the first climate-neutral continent by reducing the EU’s greenhouse gas (GHG) emissions by at least 50% by 2030 and reaching zero net emissions by 2050, compared to 1990s levels. To achieve climate-neutrality, the transport sector needs to reduce emissions by 90% by 2050. However, so far transport has been one of the slowest sectors in terms of emissions reduction (transportenvironment.org), and the next decade will be critical in the transition to a low carbon economy (based on energy sources ...

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Which Tanker to Buy? A Shipowner’s Conundrum

Investing in the tanker market is more than numbers these days. In its latest weekly report, shipbroker Gibson said that “tanker investments these days are not a straightforward decision. A prospective buyer is faced with a combination of price pressure, regulatory uncertainties, long term demand concerns and limited near term yard availability, all of which are making ordering newbuild tankers a complex undertaking. Thus far 2022 tanker orders have been limited. Between 2022 and 2023 59 VLCCs and 35 Suezmaxes are scheduled for delivery (90% of the current tanker order ...

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Shipping Fragmentation, Importance Deprioritise Decarbonisation

Global shipping’s fragmentation and the public’s less intense scrutiny of its emissions, along with its heavy debt burden and low margins, mean decarbonisation is a secondary issue for the industry, Fitch Ratings says. The sector’s environmental regulation is less mature than other transportation sub-segments, with a looser set of targets, while an existential threat to the shipping industry because of climate risks is remote given the sector’s role in world trade and the absence of viable alternatives. Seaborne trade accounts for 80% of global trade and will remain a fundamental ...

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Dry Bulk Market: Capesize Market on Positive Territory

Capesize The Capesize market had a positive week overall with the BCI and 5TC route average at 2003 points and $16,609, closing at 2,136 and $17,713. The first half of the week remained positive amid strong support from the Pacific. The C5 West Australia to China trade continued to climb from last week, but lost ground from the high of $12.245 gradually to below $12 by the weekend. It was reported that in first quarter of 2022, China’s iron ore imports from Brazil were down a massive 24% year-on-year, which ...

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EU Seaborne LNG Imports Growing With Tremendous Pace

The pace with which the EU has been importing LNG by sea is tremendous so far this year, as a result of the situation in Ukraine. In a recent report, shipbroker Banchero Costa said that “in 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share. It followed Mainland China with 20.2% and Japan with a 19.7% share. LNG imports into Europe seriously jumped in 2019, with the start of a number of projects. In the 12 months of 2019, ...

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Russia-China dirty tanker trade soars 94% y/y after Ukraine invasion

China is the world’s largest importer of crude oil and Russia is the second largest crude exporter. Much of the crude oil trade between the two countries, however, is piped and the short distance from Far East Russia to China also limits the impact on demand for crude oil tankers. Still, a change in the Russia to China dirty trade has the potential to impact tanker tonne miles demand as it could come at the expense of longer trade lanes. “Since Russia’s invasion of Ukraine, the Russia to China dirty ...

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Supply chain snarls and the war in Ukraine will change cargo flows

Both dry and liquid bulk shipping markets will be reshaped this year on the back of supply chain friction and the war in Ukraine, while supply chain problems are expected to “drag on through” 2022. Analysts at ING expect trade growth of between 1% and 2%, but with notable differences in dominant good flows. “The general trade outlook has deteriorated because of the war, but there are also mitigating effects as commodity flows are being redirected and routes are reshaped which is expected to turn into more tonne-miles. How this ...

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Shipping Weathers the “Storm” That is 2022

The shipping industry appears to be weathering the current “storm” of events, from the war in Ukraine, to the latest supply chain disruption in China. In its latest weekly report, shipbroker Intermodal commented that “just when we thought that the war in Ukraine will out stage Covid-19 pandemic, the Shanghai lockdown is making sure that this will not happen. Dry bulk and containers are still playing catch up after the 2020 and 2021 lockdowns, but we are starting to witness some effects of the current rather strict lockdown. Dry bulk ...

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The turbulent journey of the offshore supply vessel market

Looking back at the past five years in the oil and gas market and subsequently the offshore supply vessel (OSV) market, there have been distinct periods that have resulted in major shifts. 2017 to 2019 saw the industry climb out of the oil price crash that occurred in 2014. From late 2019 to 2021 the world battled coronavirus disease 2019 (COVID-19), which brought a number of variants and waves, leaving the OSV market uncertain when or if it will see a recovery. Vaccination programmes being rolled out globally, among other ...

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Xeneta Container Rates Alert: Demand, Disruption And Deft Carrier Strategies Fuel New Highs For Long-Term Ocean Freight Rates

April saw the third consecutive monthly climb in long-term contracted ocean freight rates, with shipping costs rocketing by 11.1% globally to stand 109.9% up year-on-year. The data, revealed in the latest Xeneta Shipping Index (XSI®) Public Indices for the contract market, demonstrates how supply chain demand, successful carrier strategies and continued COVID disruption in China are coalescing to “pile on the pain” for shippers worldwide. Up, up and away Xeneta’s XSI®, compiled from real-time data crowdsourced from leading global shippers, shows near universal long-term hikes across key trading corridors. European ...

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Containers and LNG Tankers Ruling the Newbuilding Market

The newbuilding market has been dominated by the container and LNG segments of late, but the dry bulk sector has also seen its fair share of action lately. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “in the dry market, clients of Almi Marine Management are reported to have placed an order at Dalian COSCO KHI for three firm 64k dwt ultramax bulk carriers, with expected delivery of two vessels in 1H 2024 and one further unit in 4Q of 2024. In Gas, Daewoo (DSME) has announced ...

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Container shipping: volume growth calms, tariffs remain strong

Strong rebound in container traffic pushes global ports far beyond pre-pandemic levels Container shipping has enjoyed a phase of strong demand. With the exception of Hamburg and Hong Kong, the 15 largest container ports in the world exceeded pre-pandemic traffic levels in 2021, with flows in Chinese ports like Tianjin, Qingdao, Ningbo and Shenzhen seeing double-digit increases compared to 2019. Container throughput in the largest US ports ended up being 20% larger amid surging demand for goods last year. Our general outlook on global shipping (including dry bulk and tanker ...

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Risks to muted steel recovery

Steel demand is set to grow by a marginal amount this year, but prospects for seaborne steel trade in 2023 look decidedly better – although the war in Ukraine is a significant downside risk in any forecasts. The World Steel Association’s (worldsteel) latest Short Range Outlook (SRO) for 2022 and 2023 forecasts that steel demand will grow by 0.4% in 2022 to reach 1,840.2 million tonnes after increasing by 2.7% in 2021. Growth of 2.2% is then predicted for 2023 with demand set to reach 1,881.4 million tonnes. But the ...

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