The seaborne soybean trade could be set for a challenging short-term period, as harvest delays seem to be affecting available for export supply. In its latest weekly report, shipbroker Intermodal said that “the short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progress, as well as tensions in diplomatic relations between China and the US which could result in trade disruptions. According to USDA, global production of soybeans for the 2022/23 season is forecast at 385.04 million tons, ...

Jannicke Eide-Fredriksen, Principal Consultant at DNV Jannicke Eide-Fredriksen has been working with ship recycling since 2008, including the development of DNV class services related to the Hong Kong Convention, recycling yard assessments and the preparation of Inventories of Hazardous Materials. For the past six years she has worked closely with the EU Commission, which DNV assists in assessing applications for the European list submitted by non-EU ship recycling facilities. That also involves on-site inspections of ship recycling facilities under the supervision of the Commission and in collaboration with the authorities ...

Container lines will counter excess capacity and slow demand growth by deploying multi-faceted strategies to reduce slot supply, according to the former chairman of two of the world’s leading carriers. Bronson Hsieh, former chairman of both Evergreen and Yang Ming container lines, told the latest episode of The Freight Buyers’ Club podcast (https://thefreightbuyersclub.com/podcast/exclusive-container-shipping-titan-bronson-hsieh-former-chairman-of-both-evergreen-shipping-and-yang-ming-shipping-part-1/), produced in partnership with Dimerco Express Group, that carriers “know how to arrange” supply-side reductions and would do everything in their powers to “control redundant capacity” (https://www.youtube.com/watch?v=LQZYt25-AyM). This will include laying up ships, mass blank sailings and ...

The tanker market could experience a healthy demand front during 2023. In its latest weekly report, shipbroker Gibson said that “oil prices have remained comfortably below $100/bbl over the past three months, with Brent largely trading between $80/bbl and $85/bbl, despite the imposition of the European ban on Russian crude and products imports. This relative stability is mostly attributable to the perceived success of the crude oil price cap and global coordinated SPR release last year. Urals exports have remained robust after the Dec 5th deadline, albeit travelling much longer ...

Capesize The average of the 5 Capesize timecharter routes were one step away from breaking through the $10,000 threshold upon closing on Friday after a week of continuous improvement. The BCI climbed over the 1,000-point benchmark on Thursday and despite the backhaul route remaining in the negative territory, positive trends were across the board. Amid the surge, East Australia coal to China – which was finally back in the market – reflected a daily hire of about $10,500 on the Transpacific round voyage. The China to Brazil round voyage, being ...

Introduction 2022 was another strong year for Gas and Container orders, but overall, 2022 orders fell short of the record breaking numbers seen in 2021. The number of newbuilding orders for 2022 reflected global geopolitical concerns, as well as an increasingly prominent green agenda. The shift to cleaner energy sources, energy security concerns, and the conflict between Ukraine and Russia have all contributed to an increase in the number and value of Gas carriers on the orderbook. The Cargo vessels in this report covers Containers, Bulkers, Tankers and Gas (LNG ...

India is now the third biggest importer of crude oil, with a market share of 11% of global crude oil imports. In its latest weekly report, shipbroker Banchero Costa said that “2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession. In the full 12 months of 2022, global crude oil loadings went up +8.7% yo-y to 2,049.8 mln tonnes, excluding all cabotage trade, according to vessels tracking data from Refinitiv. This was well above the ...

Ahead of the sanctions on Russian Clean products that came in to force on 5th February 2023, Russia to global Clean Tanker cargo miles continued to climb YoY. VesselsValue’s Trade data shows that Russia to global Clean Tanker cargo miles increased by c.26% YoY in January to c.38 billion MT NM. Overall, Russian oil exports have increased significantly to countries such as China, India and the UAE over the last year, with oil trade to India expanding by as much as 577%. Sanctions have also resulted in a reshaping of ...

Global piracy incidents reported to the International Maritime Bureau’s Piracy Reporting Centre’s might have dropped for the second year in a row, but hot spots for violent attacks against ships and crews remain. The IMB PRC’s latest annual report noted 115 reported incidents of piracy and armed robbery against ships in 2022, compared with 132 reports in 2021. The total incidents break down into 107 ships boarded, five attempted attacks, two vessels highjacked and one fired upon. But the drop is marred by an increase in the number of robbery ...

Russia’s invasion in Ukraine, a year and a few days ago, has had a profound impact on shipping. In its latest weekly report, shipbroker Xclusiv Shipbrokers said that “the disruption in oil and natural gas trade has been significant. Russia, the second largest oil exporter in the world, lost its largest customer, Europe. Most of Russia’s oil infrastructure was designed to send the oil west. European sanctions have forced Russia to turn towards east for a new oil consumer base, despite its infrastructures being inadequate to transfer major quantities. This ...

Introduction After 2021’s high S&P activity levels, 2022 was a more muted year. 2021 saw Bulkers and Containers take the spotlight, while 2022 had been the year of the Tanker. All sectors have appreciated in value, particularly for older tonnage where 20 year old vessels have increased in value by as much as c.142% in the Aframax sector. This was driven by the sanctions against Russia, with additional tonne mile demand stemming from the conflict and overall improved demand fundamentals globally. This report will provide a breakdown of the S&P ...

The first two months of 2023 have seen tanker market fortunes change rapidly, illustrating the volatility and upside that continues to persist as global trade patterns are reshaped. Sharp increases in spot earnings have been a feature of the first quarter so far, emphasising the volatility and upside that continues to persist as global trade patterns are reshaped. In its latest monthly HORIZON report*, MSI expects Asia, and in particular China, to dominate oil demand growth in 2023, but overall cargo volumes look set to be relatively restricted despite distance-driven ...

Ship owners have returned to shipyards this past week, with more deals in the container and LNG/LPG shipping segments. In its latest weekly report, shipbroker Allied said that “last week saw orders in line with the trends seen over the year so far. CMA CGM returned with an order for six methanol fueled 16,000 TEU container vessels, slightly larger than the twelve ordered at the end of last month. So far this year, CMA CGM has accounted for around half of container vessels contracted so far this year and around ...

2023 is set to be another interesting and potentially tumultuous year in shipping, and shippers and carriers are advised once more to favour agility in their supply chains. An expanding market and an increase in market capacity has been observed as one of the many important factors affecting the supply chain, and industry players will need to factor it into their preparations for the year ahead. Order books indicate that there will be an approximate increase of 8% in shipping capacity in 2023, resulting in a global fleet of 30 ...

Capesize earnings have fallen to the lowest levels since Q1 2020. Although we have come to expect a seasonal lull during the first quarter of the year, with the Lunar New Year celebrations now a distant memory, what is causing rates to fall further? Bulker market players take into account that each year, Q1 will be the weakest quarter for earnings, and this is usually due to a number of seasonal factors. The most notable is of course, the annual Lunar New Year celebrations. Prior to the holiday period this ...