The newbuilding market activity has kept rising over the past week. In its latest weekly report, shipbroker Intermodal said that it was “another busy week for the newbuilding market with several orders for both tankers and bulkers. There were a total o…
Newbuilding Market Picking up Pace Read More »
The onset of March has brought firmness in freight rates not only for large vessel size categories but also for smaller ones, with the Handysize NOPAC Far East route recording remarkable increases from the previous month. Meanwhile, in the Capesize Bra…
“In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y, due to a rise in orders for very large crude carriers – VLCCs. A notable 19 VLCCs were ordered, already surpassing the number of orders for this s…
Crude tanker newbuild contracting jumps 490% as VLCC orders gain pace Read More »
The ship recycling market is still in bearish mode, despite the fact that cash buyers are looking for more demo candidates. In its latest weekly report, Best Oasis (www.best-oasis.com), the world’s leading cash buyer of ships, said that “the ship recyc…
Ship Recycling: Stagnation is the Norm Read More »
Recent Houthi attacks on vessels passing through the straits of Bab al-Mandab on their way through the Red Sea mean that the shipping industry has moved beyond trade press reporting and onto front page news. While the causes of the current situation ar…
Red Sea movements and financial security Read More »