With the US market not able to fully service the European continent, more crude oil VLCC cargoes have started flowing out of the Middle East market. In its latest weekly report, shipbroker Gibson said that “in recent years we have seen a remarkable inc…
VLCC Market: More Flows Towards Europe From the Middle East Read More »
In the third week of August, downward pressure continues on the VLCC MEG route to China, while Saudi Arabia’s crude oil exports to all destinations are expected to decline significantly over the summer compared to the previous two years. As shown…
Xeneta believes long-term ocean freight rates may have started bottoming out after around a year of persistent, often dramatic monthly falls. The Oslo-based benchmarking and market analytics company says the latest General Rates Increases (GRIs) from c…
Lower values of China’s dry bulk exports have triggered shifts in major routes. In a recent weekly report, shipbroker Xclusiv Shipbroking said that “China, the world’s second-largest economy suffered a sharp decline in exports and imports in July…
China’s Dry Bulk Trade Volume on the Rise Read More »
Ship recycling is a complex and hazardous process as ships contain a wide range of hazardous materials and have intricate structures that include numerous compartments, systems, and components; also, ship recycling can have significant environmental re…
Navigating the recycling challenges of ship owners Read More »