There are signs of stabilization in the crude oil exports routes from Kuwait, after the fall witnessed over the last 18 months. In its latest weekly report, shipbroker Banchero Costa said that “2020 was overall a very negative year for crude oil trade. Total loadings in the 12 months of 2020 were do
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. The change could finally unlock the full potential of digital trade documents, while at the same time keeping English law at the forefront of global commer
Ten years after we launched our online Maritime asset valuations and market information services, we’ve now expanded coverage into commercial passenger aircraft. “Similar to what we did in Shipping ten years ago, we are the first to bring a daily updated, truly automated valuation model (AVM) to the
Gulf Coast fuel oil production has recovered to pre-hurricane levels, and supply remains limited in Panama. US Gulf Coast refineries have ramped up fuel oil production to levels not seen since late August, before the region was battered by two damaging storms. Gulf Coast production dropped off drast
A scarcity in obtaining finance for environmentally-friendly retrofits and upgrades is hindering shipping’s decarbonization process. In its latest weekly report, Intermodal said that “IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon pr
1. Introduction The aim of this Report is to provide the technical perspective on the ways of reducing Greenhouse Gas (GHG) emissions from the maritime transport in line with the initiatives of the “Fit for 55” package. This Report intends to inform discussions regarding the reduction of the GHG emi
Container shipping: In 3Q21 and early October, container shipping stocks saw a sell-off triggered by the risk of worsening container ship demand largely due to power shortages in China. Moreover, the risk of a cost-push from the rising oil prices has added to the concern. Despite the concerns, the d
Newbuilding ordering activity has continued apace, with more orders being placed last week, especially for dry bulk carriers. In its weekly report, shipbroker Clarkson Platou Hellas said that “in tankers this week, Dalian Shipbuilding announced taking order for a firm 115k dwt Aframax tanker from Ch
Grain and soya trade has grown briskly during the past two years but recent expansion has mainly reflected much higher grain imports into China. What are the prospects for global trade and related bulk carrier employment in the year ahead? Rising import demand in a number of countries has been a fea
RightShip, the world’s biggest third party maritime due diligence organisation and safety experts, has argued that the IMO’s Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) to reduce greenhouse gas (GHG) emissions slated for 2023 may be too slow to enforce change by
Wet tonnage has continued to dominate the demolition markets, which are expected to heat up in the weeks to come, at least in terms of prices offered, thanks to a rapidly rising price for steel. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “strike whilst the iron is hot!
Maritime shipping, the lifeblood of global trade that is usually hidden from public view, has been thrown into the headlines due to global supply chain disruptions caused by the pandemic. Long delays at ports around the world, skyrocketing freight prices, and the occasional massive ship stuck in a s
Top Asian economies may need to spend the most decarbonizing shipping, but industry experts say they are well positioned to create business opportunities from these climate efforts. Taking a look at China, Japan, and South Korea, which together account for roughly a third of the world’s CO2 emission
Prices for dry bulk carriers could soon rally, following hot on the heels of the latest rally of the dry bulk market freight rates. Despite last week’s correction, shipbrokers appear to be quite optimistic regarding a renewed rebound in asset prices as well. In its latest weekly report, shipbroker A
There is no doubt that ammonia and methanol are in the race to be the most viable zero-carbon bunker fuels in the global shipping industry. When you consider the rapid acceleration of the world’s transition to a greener future and that shipping facilitates 90% of the world’s traded goods, the import
Following four years of growth, Macquarie Group’s Shipping Finance business’ loan book has recently passed $US1 billion. The business, which specialises in providing finance to small and medium sized shipowners, has now financed over 190 vessels globally, with a total market value of more than $US3
A carbon levy for shipping could be the answer, in order to fund the make the transition to greener shipping fuels. In its latest weekly report, shipbroker Gibson said that “heads of state haven’t even got on their respective planes to fly to Glasgow for the meeting of world leaders to discuss clima
Capesize The week ended on a negative note with continuous downward momentum in both basins. The BCI broke the barrier of 10,000 points upon opening on Monday and closed at 7767 by Friday, whilst the average of five time charter routes declined from $82,722 to $64,417 throughout the week. The Pacifi
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s always difficult to point to individual stories that are impacting freight, the below is an overview of how shipping is being affected in the various corners of t
The dirty tanker market remained soft in September amid a continued imbalance between tonnage supply and demand, keeping rates at low or even loss-making levels, OPEC said in its latest weekly report. However, there has been a definite pickup in sentiment amid hopes for a good – or certainly better
