The superior efficiency of electric deck systems makes them an increasingly attractive solution for bulk carrier operators amid rising costs and evolving regulations, says MacGregor. As a world-leading provider of maritime cargo- and load-handling solutions, MacGregor offers an extensive portfolio of shipboard equipment for multiple vessel types. In the bulk carrier segment, its hydraulic cranes, hatch covers, and deck machinery – including anchor windlasses, mooring winches, and steering gears – are popular solutions with proven high standards in performance, safety, and reliability. Yet with rising costs and evolving regulations emphasising ...

The dry bulk market is witnessing a “euphoria” phase of past times, with freight rates and asset prices on the rise over the past few weeks. In its latest weekly report, shipbroker Xclusiv said that “the dry bulk market has exhibited significant strength over the past year, with an upward trend fostering optimism among both owners and charterers. The Baltic Dry Index (BDI) reflects this positive sentiment, with a 72% increase from 1,183 points on June 27, 2023, to 2,031 points on June 27, 2024. Similar positive trends are observed ...

This week’s chart illustrates the increase in monthly soybean export volumes from Brazil to China starting from the beginning of 2022. It highlights the gradual increase observed this year, with June’s volume reaching a new peak of over 10 million tons, surpassing a similar peak recorded at the end of March last year. This year’s trend shows a persistent upward trajectory compared to the first six months of the previous year, which saw a decline following the March peak. Typically, we observe an increase in Brazilian soybean exports in the ...

Dry bulk market players are putting earnings potential over asset values as they seek to capitalise on an exuberantly positive mood according to new analysis by MSI. Q1 2024 saw 250 sales recorded – the second highest quarterly total over the past 10 years – and age was no barrier to buyers with cash on hand. MSI’s assessment of Capesize five year old prices – included in its latest quarterly sector report – reached an astonishing $60m in May, almost 20% higher than at the start of the year and ...

Conditions in the ship recycling market have been quite challenging over the past week. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the ship recycling industry faced a challenging landscape this week. In India, the market is experiencing a significant downturn, with minimal demand and a shortage of vessels, leading to a standstill in new deals and weakening international competitiveness. In Bangladesh, the market saw lack of demand, causing local prices to drop by 500 to 1,000 Taka ($5.85 to $11.70 USD) ...

Clarksons Research have today released their latest Green Technology Tracker, including first half 2024 data points, charting the progress of alternative fuel uptake and investments in energy saving technologies across the global shipping fleet. Summarising the latest Tracker, Steve Gordon, Global Head of Clarksons Research, commented: “Investment into alternative fuel continued in first half 2024, accounting for around one third of all newbuild orders and 41% of all tonnage placed and with orders announced for vessels capable of using either LNG (109 orders, 51 excluding LNG Carriers), methanol (49 orders), ...

The recent IEA report forecasting a decline in oil demand by the end of this decade has raised concerns regarding the outlook of the product tanker market. This fall is mainly driven by a shift towards electric vehicles and more efficient engines, affecting demand for gasoline and diesel, comprising more than half of the share in refined products. As a result, product tanker market is bound to rebalance in the long-run, leading to fleet adjustments and reduced orders. Gasoline demand is projected to reduce by 0.2 million barrels per day, ...

Supply for both the dry bulk and tanker markets could be on the rise in the coming months and years, not only as a result of robust newbuilding ordering activity, but also because of a lack of demolitions. In its latest weekly report, shipbroker Intermodal said that “building upon our prior analyses which explored the sales & purchase, and contracting activities within the dry bulk and tanker sectors for the year 2024, it would be prudent to extend our examination to include the demolition activities of these sectors to gain ...

The International Energy Agency’s (IEA) Oil 2024 report outlines a period of significant transformation for the global oil market through to 2030. While oil has historically fuelled economic growth, the report predicts a slowdown in demand growth, particularly in developed economies, as clean energy technologies and electric vehicles (EVs) gain traction. This trend stands in stark contrast to the anticipated surge in oil production, especially from non-OPEC+ countries, potentially leading to a substantial oil surplus by 2030. The report suggests a global peak in oil demand by the end of ...

The introduction of the EU’s Emissions Trading System (ETS) into shipping has brought significant changes, deeply impacting financial operations, day-to-day management and commercial transactions. Frontline, a global leader in tankers, explains how DNV’s Emissions Connect is helping them to navigate this complex environment. Growing moves to decarbonize the maritime industry are being accompanied and advanced by its rapid digitalization. Following the expansion of the EU ETS into shipping in January 2024, the importance of accurate, reliable data has never been higher. DNV’s Emissions Connect offers a comprehensive solution that ensures ...

A boost in ton-mile demand has kept older MR tankers afloat. In its latest weekly report, shipbroker Gibson said that “MR tankers, the workhorses of both the clean and occasionally dirty product markets form the largest segment of the tanker industry. They are essential for the overall functioning of the market, making a detailed analysis of MR supply crucial for understanding tanker market dynamics. MRs are ageing fast, with the numbers between the ages of 15 to 19 years accounting for nearly 30% of the existing fleet. This raises concerns ...

Capesize The Capesize market experienced an eventful week despite starting off quietly with the BCI 5TC dropping by $409 to $25,650 on Monday. However, the market turned around midweek with a surge in activity, especially in the Atlantic. Demand from South Brazil and West Africa to the Far East for July loaders drove a tightening of the ballaster list, significantly boosting rates resulting in the BCI 5TC increasing by $1,288 to $26,082. Brokers reported by Wednesday and Thursday that approximately 18-20 fixtures had been concluded, substantially reducing the number of ...

The European Union Emissions Trading System (EU ETS) stands as a cornerstone in the global endeavour to mitigate climate change, and its extension to the maritime sector earlier this year has already begun to accelerate the shift towards greener shipping. Expanding EU ETS to cover shipping is integral to the EU’s Green Deal, and requires shipping companies to adapt rapidly to stringent carbon regulations. In the pursuit of compliance, leveraging robust data is one of the best ways for the industry to steer its decarbonisation efforts efficiently and sustainably. EU ...

Canadian iron ore exports to China and the EU have been rising. In its latest weekly report, shipbroker Banchero Costa said that “2023 was a very positive year for global iron ore trade. In Jan-Dec 2023, global loadings of iron ore increased by +5.1% y-o-y to 1,631.9 mln tonnes, from 1,552.2 in the same period of 2022, based on AXS Marine vessel tracking data. The trend remained positive in JanMay 2024, with loadings growing by +5.3% y-o-y to 672.1 mln tonnes. Exports from Australia increased marginally by +1.6% y-o-y in ...

This week’s data highlights a declining trend in VLCC tonne days growth (left chart), coinciding with weakening AG-China freight market rates throughout June and a reduction in tonne day growth from the AG to China. This weaker outlook was also depicted in last week’s chart, illustrating the impact on ballast speeds. Notably, the recent decline in growth of VLCC dirty tonne days from the AG to Far East (right chart) has hit a year-low and represents the lowest growth rates observed since 2022 and 2023. The final week of June ...