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Tight bunker supply in Fujairah narrows spread to Singapore to minus $1/mt

The Fujairah-Singapore delivered bunker fuel spread narrowed to minus $1/mt from minus $7/mt last Friday, S&P Global Platts data showed. The spread is typically in the range of minus $6-minus $15/mt, and has narrowed this week as spot bunker fuel cargoes for delivery to Fujairah were tight due to inclement weather, trade sources said. Offers [...]

By | February 3rd, 2018|News|0 Comments

Global demand prospects are improving, so why is the MPV market yet to see that upturn?

All the economics suggest that the MPV market should be doing much better than it actually is. Demand growth is steady and significantly higher than fleet supply growth, so why are owners still chasing rates? It is all about the competition. Drewry has analysed the correlation between global general cargo growth and GDP growth at [...]

By | February 3rd, 2018|News|0 Comments

LNG Shipping’s Prospects Positive says GasLog after Rates Were 82% Higher on an Annual Basis

Rates for LNG tankers picked up considerably during the final part of 2017. In the LNG shipping spot market, TFDE headline rates, as reported by Clarksons, rose through the end of the fourth quarter, reaching a peak of $82,000 per day in late December, an increase of 82% from the same time in 2016. According [...]

By | February 3rd, 2018|News|0 Comments

West Africa Poised for Pressure

Suezmax demand outpaced all other sectors in 2017, growing from 2.35 trillion ton-miles to 2.59 trillion ton-miles, about a 9.8% change supported by increased Middle East flows to Europe and long-haul trading from the West (Southern Europe primarily) to the East. However, we observed weakness in the West African Suezmax trades into Europe amid higher [...]

By | February 2nd, 2018|News|0 Comments

Dry Bulk FFA: Capesize Index To Face Further Pressure

Highlights: The index has completed 2 impulse waves down, this could be a simple A,B,C correction, however with the stochastic still below 50 we have the potential to see a 3rd impulse wave down. Feb futures are starting to make higher highs, however the 8 period EMA remains below the 21 period EMA and at [...]

By | February 2nd, 2018|News|0 Comments

HMM to sign a long-term crude oil shipping contract with GS Caltex

HMM inked a long-term crude oil shipping contract worth KRW 190 billion with GS Caltex. Under the deal signed on February 1, 2018, HMM will transport a total of 19 million-ton crude oil from the Middle East to South Korea over a period of 5 years from July 1, 2019 to August 31, 2024. Accordingly, [...]

By | February 2nd, 2018|News|0 Comments

Dry Bulk: Is a More Cyclical Market with Smaller Volatility Back In Play

Ever since the collapse of Lehman Brothers almost a decade ago and the collapse of world trade which followed, the shipping industry has been plagued with a recurring theme: intense volatility of the freight market, with very steep ups and downs in what seems like a rollercoaster ride, which the industry hasn’t been accustomed to. [...]

By | February 2nd, 2018|News|0 Comments

Charterers take advantage of cheap Suezmax freight to send fuel oil to East

Pressure on Suezmax freight rates have led to a scramble to fix fuel oil cargoes on Suezmaxes to the East, according to fuel and shipping sources. VLCC have dominated fixing activity in West Africa, particularly after the outage at the Forties pipeline in December, which has left about 30-40 Suezmax vessels floating off the coast [...]

By | February 2nd, 2018|News|0 Comments

Fuel savings, lower emissions bring next generation weather routeing into the mainstream

Tidetech says optimisation against tides and currents in European coastal waters can deliver bigger fuel savings than a North Atlantic passage Hobart, Tasmania, February 01, 2018. Shipowners are embracing a new generation of weather routeing tools as they look to optimise vessel performance in the face of higher fuel costs and looming environmental regulations. Leading [...]

By | February 2nd, 2018|News|0 Comments

Shipping will make Viet Nam a ’tiger’

As Viet Nam’s maritime industry grows, it will have a profound impact on the economy, tourism and trading and ultimately boost economic growth. This was stated at a press meeting in Ha Noi on Tuesday, themed Cementing Viet Nam’s maritime capabilities at Asia Pacific Maritime (APM) 2018. APM 2018, which will be held in Singapore [...]

By | February 1st, 2018|News|0 Comments

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