Despite the fact that ship owners appeared to be pushing for higher VLCC rates over the course of the past week, a rebound in freight rates wasn’t able to be materialized, as a result of abundant tonnage availability. In its latest weekly report,…
Shipping confidence dipped very slightly in the three months to end-August 2018, according to our latest Confidence Survey. The average confidence level expressed by respondents was down to 6.3 out of a maximum possible score of 10.0, this compared to …
Confidence slips marginally on geopolitical factors Read More »
The new International Maritime Organization (IMO) Low Sulphur Regulation will be effective from 1 January 2020 and will require all shipping companies to reduce their Sulphur emissions by 85%. This new regulation aims to reduce the environmental impact…
CMA CGM estimates low-sulphur rule will cost $160 per container Read More »
With a rebound proving to be elusive in the VLCC tanker segment, it seems that all prospects for the realization of such a recovery hinge on older units being sold for scrap. In its latest weekly report, shipbroker Gibson pointed out that “robust scrap…
Tankers: It’s All About Demolition Activity In The Hunt For VLCCs’ Rebound Read More »
The ongoing weakness in Turkish economy and corresponding depreciation in Lira is making the country’s imports expensive. From the beginning of the second quarter, the Lira has depreciated by more than 50% against the US dollar and in addition, Turkey …