The tanker market has been facing geopolitical turbulence once again. In its latest weekly report, shipbroker Gibson said that “it has been another turbulent week in the oil and tanker markets. Whilst U.S. tariffs on Canada and Mexico were postponed for a month, the 10% tariff on all Chinese products took effect on February 4, with Beijing swiftly retaliating, imposing a 10% tariff on U.S. crude exports and a 15% duty on LNG and coal exports starting February 10, whilst some other measures were also implemented. Later in the week, ...

Greece is one of the maritime industry’s global powerhouses. Greek shipowners control over 20% of the global fleet and account for 60% of the EU-controlled fleet. The industry’s contribution to the Greek economy makes up 7% of the country’s GDP and while Greek shipping’s enduring influence may be rooted in its historical legacy, its continued operational excellence and adaptability to market prevailing circumstances make it an undeniably important market for global trade at large. It is for these reasons, and no coincidence, that the Greek market is at the heart ...

Capesize The Capesize market experienced a generally softer week, with the 5TC declining to $6,733 by Thursday then edging back up to $6,964 by the end of the week. Despite the Pacific showing signs of strength with a healthy cargo flow and tightening of tonnage early in the week, reported fixtures struggled to push levels higher. The C5 index hovered around the upper $6s to settle at $6,71 by weeks end. In the Atlantic, the North saw continued oversupply of tonnage, particularly on transatlantic routes, where limited cargo led to ...

China’s LNG imports kept rising during 2024, following the trend of the previous years, but EU remains ahead. In its latest weekly report, shipbroker Banchero Costa said that “global seaborne LNG trade was increasing sharply until 2022, helped also by the events in Ukraine which forced Europe to diversify away from Russian pipeline gas. The last two years, however, have seen a significant slowdown in the growth levels. In Jan-Dec 2023, global shipments of LNG increased by just +1.4% y-o-y to 408.7 mln t, based on Refinitiv/LSEG vessel tracking data. ...

The crude oil freight market remains highly volatile, with recent spikes in VLCC rates on the MEG-China route. While tonne-day demand growth has yet to show signs of recovery, market sentiment appears to be firming, driven by uncertainty surrounding oil price fluctuations and China’s crude oil demand. Additionally, the impending implementation of U.S. tariffs on the energy sector adds to the instability. Recent reports confirm that the U.S. has decided to pause the planned tariffs on Canadian and Mexican oil, which were initially set to take effect in early 2025. ...

The FuelEU Maritime regulation is set to reshape the shipping industry, imposing stringent targets for reducing greenhouse gas (GHG) emissions from vessels operating within the EU and EEA. This regulatory landscape presents both challenges and opportunities for shipping operators. A white paper from DNV considered the complexities of FuelEU Maritime compliance, analysing the various strategies available to ship operators. Using the case study of an 80,000 dwt bulk carrier, DNV explored the financial and operational implications of different approaches, from paying penalties to embracing low-GHG fuels and leveraging the regulation’s ...

Commodity markets have been mired with uncertainties at the beginning of 2025. In its latest weekly report, shipbroker Xclusiv said that “the start of 2025 has seen significant turbulence across the global commodity markets, driven by shifting trade policies, supply constraints, and geopolitical maneuvering. China’s iron ore and seaborne coal imports have started the year on a weak note, with January arrivals dropping to multi-month lows. However, the two commodities are experiencing diverging price trends—while iron ore remains stable, thermal coal has fallen to its lowest level in nearly four ...

Between September 2024 and January 2025, ship capacity in deadweight tonnes transiting through the Panama Canal was 10% lower than the 2019-22 average. Although there were no transit restrictions during this period, transits of dry bulk, LNG and, to a lesser extent, tanker ships have not recovered to their historical levels,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO. Between June 2023 and September 2024, transits through the Panama Canal were restricted due to low water levels in the Gatun Lake. There were restrictions to both the total number of ...

As the maritime industry seeks to align with global sustainability targets, EU regulations such as FuelEU Maritime and the EU Emissions Trading System (ETS) are catalysing significant changes in operational and technological strategies. These regulatory frameworks are drivers that encourage the industry to innovate and operate more sustainably. EU regulations setting the course for decarbonisation The path to a climate-neutral EU by 2050 is paved with ambitious policies. The European Green Deal sets the overarching agenda, aiming to transform the EU into a modern, resource-efficient economy. Within this framework, the ...

The ship recycling market is still exhibiting limited activity all around. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the ship recycling market remained largely inactive across all major destinations this week, with no significant improvements or sharp declines. In India, the market remained unchanged from the previous week, with stable prices and no shift in the availability of imported scrap. However, anticipation is building around the Union Budget 2025, as industry participants expect potential measures to regulate rising steel imports, which ...

The total coal shipment volume from the U.S. to Europe in 2024 is estimated at 25.2 million tonnes, reflecting a decline from 2023, which recorded 26.4 million tonnes. This marks a 4.5% year-over-year drop in total coal exports, suggesting a potential weakening of European demand for U.S. coal, possibly due to factors such as regulatory changes, energy transition policies, or economic slowdowns. In 2023, the highest shipment volume occurred in January, surpassing 3 million tonnes, with relatively stable flows throughout the rest of the year. Data for January 2025 reveals ...

President Trump’s latest trade tariff salvo took aim at the EU, confirming his long-held promise to increase levies on exports to the US, as he seeks to redress trade imbalances and protect domestic markets. In the same breath, he added that a deal between the UK and US ‘could be worked out’, a statement that was as foreboding as it was vague. While this particular missive was light on detail, there is little doubt that the imposition of tariffs will trigger disruptions in the global shipping market, the ramifications of ...

Container ships have been dominating newbuilding ordering activity over the past week. In its latest weekly report, shipbroker Banchero Costa said that in the newbuilding front, “CMA CGM dominated the week with a $2,59 bln deal. Hyundai group will deliver 12 dual fuel LNG x 18,000 TEU container ship to the French owner within December 2028. Candler Schiffart placed an order for 2 x 12,000 dwt MPP at Jiangxi New Jiangzhou Shipbuilding, deliveries are expected by the end of 2027. Last relevant order was placed by Peter Dohle for 3 ...

To mark the Lunar new year, we take a look at the Chinese newbuilding orderbook, using VesselsValue data. The infographic highlights the Chinese orderbook by top Chinese ordering companies and insight into the ships currently being built at Chinese yards. Of the top Chinese companies ordering vessels last year, China Merchants Shipping ranks first, with contracts agreed for 28 new vessels—worth an impressive USD 4.4 bn. This investment is mainly in the Tanker and LNG sectors, which each accounted for a share of c.33%, but also included new orders for ...

On 5 February 2025, the UK Supreme Court will hear the appeal in the MSC Flaminia. In brief, following a fire and explosions on board the Flaminia, the owners incurred various salvage and other expenses which they sought to claim from the time charterers, who were found liable for the owners’ losses arising out of the fire and explosions. The time charterers sought to limit their liability to the owners. The Admiralty Court and Court of Appeal found that they could not do so. The Supreme Court will now decide ...