The tanker market, expectedly, is roaring to higher levels, especially for those few braving a crossing of the Hormuz Strait. Still, most are now trapped and the option of floating oil storage is beginning to look more realistic by the day. In its late…
A major oil supply shock in Asia economies is about to occur, amid the war in Iran and the effective closure of the Hormuz Strait. In its latest weekly report, shipbroker Banchero Costa said that “in Jan-Dec 2024, global crude oil loadings declined mar…
Tanker rates have risen to levels rarely seen as the Hormuz Strait, a key gateway for crude oil exports is effectively shut. In its latest weekly report, shipbroker Xclusiv said that “the crude tanker tape has shifted from strong to structurally tight …
Tankers: Geopolitical Stress Moving Prices and Rates Higher Read More »
The ship recycling market in Southeast Asia are also subject to the Gulf Region war escalation. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the Indian market came off during the week, with pri…
Ship Recycling Market Taking a Hit From Geopolitical Uncertainty Read More »
More dry bulk newbuilding orders have been placed this week, with Greek owners not shy of contracting more ships. In its latest weekly report, shipbroker Banchero Costa said that “in the bulk sector, Japan’s Imabari shipyard secured an order for 2 x 18…
Dry Bulk Carriers and Containers Domination Newbuilding Orders Read More »