In the last days of July, the outlook for crude oil freight rates showed signs of weakness as the growth of demand in tonne days continued to decline. Additionally, the daily 25-day moving average of crude oil flows from Arabian Gulf countries to China…
The product tanker orderbook to fleet ratio has surged from 5.4% in December 2022 to 9.3% in June 2023, driven by a remarkable 337% y/y rise in contracting during the first half of this year. A spike in freight rates and product tanker demand is likely…
Contracting Of Product Tankers Jump 337% In The First Half Of 2023 Read More »
The last days of July are still quiet, with a weaker sentiment of freight rates in all size classes, while all eyes are on the Black Sea grain market after Russia decided not to extend the agreement that allows the safe shipment of Ukrainian grain thro…
July’s Spikes In The Number Of Ballasters With Rates Dropping Throughout The Month Read More »
An upturn in global coal trade looks likely in 2023, after a pause last year. Trade volume may approach the peak seen four years ago. But pessimism about the longer term trend still overshadows the view ahead, amid an international push to reduce green…
Coal trade looking brighter Read More »
At the start of the year, Microsoft’s Chief Executive Satya Nadella declared that “the age of AI is upon us.” The statement followed the company’s multi-billion investment into OpenAI, the research company that’s home to AI ‘superstar’ ChatGPT. With al…