European shipowners welcome the outcome of yesterday’s trilogue negotiation and the provisional agreement on the EU ETS maritime. The Parliament and the Council have embraced the calls of the industry stakeholders to earmark EU ETS revenues back to the…
Long-term ocean freight rates suffered a steep month-on-month decline in November as subdued spot prices, weak demand, and ongoing economic uncertainty caught up with contracted container agreements. The latest data from the Xeneta Shipping Index (XSI®…
The ship recycling market has remained subdued over the course of the past week, solidifying the general market negativity of the past few weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the steel markets continue to fa…
Rate Uncertainty Rules the Ship Recycling Market Read More »
Highlights The Baltic Exchange Dry Index (BDI) remained low in the fourth quarter due to congestion easing and weak demand in China. The IMF forecasts the global economy to grow by 2.7% in 2023 and by 3.2% in 2024, following a downward revision. In its…
Dry Bulk Market: Slight improvement in supply/demand balance despite weakness in China Read More »
As the latest EU sanctions on Russian oil are coming into force in early December, we take a look at how the nearing sanctions are impacting values and trade within the Tanker and LNG markets. From the 5th of December, sanctions and price cap mechanism…
Russian Oil Sanctions are Approaching: What Does it Mean for Tankers and LNGs? Read More »