Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned today that avoiding overcapacity and unsustainably low freight rates is still a major challenge ten years after the massive downturn of …
Oversupply Still Major Challenge Warns ICS Read More »
Has it been a good year for shipping? Shipping has faced another challenging year as excess yard capacity and the resulting surplus of ships has continued to weigh on spot and term market rates. However, green shoots are appearing, and several long ter…
Listed Shipping Companies Invest In New Ships Read More »
After a dismal 2018, tanker owners could harbor further hope for a freight rate market revival, as China’s thirst for crude oil imports is stronger than ever. In its latest weekly report, shipbroker Banchero Costa said that “as recorded at the en…
Strong Chinese Oil Imports Could Offer Boost to the Tanker Market Read More »
Financially vulnerable carriers could be pushed into M&A by the extra costs associated with the new low-sulphur fuel law. If that happens, how might competition on key trades be affected? Most of the major carriers have now reported full-year 2018 …
A number of factors have been coming into play, when it comes to determining freight rates in the product tanker market. In its latest weekly report, shipbroker Gibson said that “over the past few weeks, MRs trading out of Europe have continued to outp…
Product Tanker Rates Facing More Volatility Moving Forward Read More »