Seaborne crude oil flows keep on changing, with China having recently emerged as major buyer of US crude oil. In its latest weekly report, shipbroker Intermodal said that “the recent commitment from Russia and Saudi Arabia to production cuts, coupled w…
Tankers: Crude Flows Constantly Shifting Read More »
Drewry expects the global pool of container equipment to contract by 2% in 2023 as trade growth remains weak and owners dispose of more equipment. In 2023, Drewry anticipates global container handling activity to increase by just 1% to 870.7 mteu. Whil…
Carrier reliance on leased container fleet to support higher per diems and cash returns Read More »
Global long-term shipping rates sank to a two-year low in July, with the latest data from Xeneta’s Shipping Index (XSI®) showing a fall of 9.5% since June, adding to a deep collapse that started last year. Long-term valid contract rates have now lost 5…
The low water level of one of the main fuel distributions artery, the Rhine River, is causing significant disruption. In its latest weekly report, shipbroker Gibson said that “in Europe, besides contending with an intense heatwave, lower rainfall has i…
Low Rhine River Water Level is Taking its Toll in Ship Traffic Read More »
Capesize After a slow beginning to the week, the Capesize market experienced a surge on Wednesday with a rise of over $2,500 in a day on its five timecharter routes average. The week closed at $15,180 with +$3,222 week-on-week. Both fronthaul and trans…
Dry Bulk Market: Capesize Segment Edged Higher This Week Read More »