Ship owners have kept on contracting newbuildings and secondhand vessels, opting for larger tonnage. In its latest weekly report, shipbroker Allied Shipbroking said that “things in the newbuilding market continued on a relatively fair mode for yet anot…
Ship Owners Keep Investing in Bigger Ships Read More »
Surplus containers are piling up at warehouses as demand wears out, resulting in rising demurrage and detention charges, contributing substantially to the operational costs for shippers. These were a few inferences that were discussed during a recent w…
On 22 July, Russia and Ukraine signed an agreement with Turkey and the United Nations to allow grain exports from three ports in western Ukraine: Yuzhne, Chornomorsk, and Odesa. Combined, the three ports accounted for 65% of the country’s total grain e…
Grain agreement could see 65% of Ukraine’s seaborne capacity reopen Read More »
Low recycling prices for vintage tonnage are expected to hinder any increase in the number of units sold over the next few weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “we are trying to establish from where a concessi…
Summer “Lull” Ahead for Ship Recycling Read More »
The Russia-Ukraine war and sanctions on Russia’s refined products have created a void in the European market, which is counterbalanced largely by South Asia. The product tanker sector has been gaining from the ongoing geopolitical tensions as a sudden …
Geopolitical tensions redefine the new normal for product tankers Read More »