It is common for vessels that trade through the Malaca and Singapore Straits to receive instructions to wait “OPL Singapore” for voyage orders. “OPL” stands for “Outside Port Limits”. However, under the UN Law of the Sea Convention (UNCLOS), Malaysia, …
Double-check where you can anchor – lessons from the AFRA OAK decision Read More »
Tanker ordering activity was the main trend in last week’s newbuilding orders, while bulkers keep dominating the S&P market. In its latest weekly report, shipbroker Banchero Costa commented that “not many orders reported during this week, but tanke…
Newbuilding Orders Slow Down, as S&P Deals Accelerate Read More »
Supply/demand balance Houthis continue to attack ships in the Red Sea and the Gulf of Aden, and there is no end to the conflict in sight. We therefore base our forecasts on the assumption that rerouting of ships away from the Red Sea and the Suez Canal…
BIMCO: Tanker Shipping Demand to Rise by 10.2% in 2024, Compared to 2022 Read More »
Ocean freight container shipping spot rates are set to exceed the level seen at the height of the Red Sea crisis when the latest round of increases hit the market on 1 June, according to the latest data released by Xeneta today, Thursday. Peter Sand, X…
A lack of tonnage is still hampering the ship recycling market, with market participants on the lookout for more vessels. In its latest weekly report, Best Oasis (www.best-oasis.com), one of the leading cash buyer of ships, said that “this week, ship r…
Lack of Tonnage Still an Issue for Ship Recyclers Read More »