The rise in freight rates, as a result of the crisis in the Red Sea, is expected to incentivize owners to refrain from selling their older ships for recycling. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “market conditions …
Red Sea Crisis Could Further Limit Ship Recycling Activity Read More »
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the International Energy Agency’s Coal 2023 report. The changing dynamics of coal consumption, production, …
Coal trade continues to head east Read More »
On 23 December, a Gabon-flagged oil tanker and a Norwegian-flagged oil tanker were attacked by a drone in the Southern Red Sea. The United States Central Command attributed the incident to Yemeni Houthi rebels, marking their 14th and 15th such attack s…
The Houthi Reaction to the Gaza Conflict Could Threaten the Global Economy Read More »
The tanker market is expected to benefit from improving global economy conditions and increased Asian oil demand growth as we head into 2024. In its latest weekly report, shipbroker Xclusiv said that “despite the negative outlook for economic growth se…
Tankers: 2024 Shaping to Be A Solid Year for Growth Read More »
In the fourth quarter, the Israel-Hamas conflict led to increased geopolitical tensions, especially within the oil sector, reshaping dynamics within the industry. After the end of September, freight rates firmed in October, influenced notably by Russia…
Geopolitics and Crude Freight Market Read More »