The conclusion of the P&I renewal season and rising risk exposure from Covid-19 confirms that marine insurance costs are hardening which will raise vessel operating costs just when earnings are expected to come under pressure as trade contracts. Th…
Shipowners face perfect storm of rising opex as earnings fall Read More »
On 21 February 2020 details were first published of an historic and unprecedented information-sharing agreement among the world’s three biggest open shipping registries – Panama, Marshall Islands and Liberia. The Registry Information Sharing Compact (R…
It’s fair to say that the oil market is experiencing one of its most challenging periods, with a ripple effect expected in the tanker market as well. In its latest weekly report, shipbroker Gibson said that “a week after the biggest deal in oil history…
Tankers Could Face Rocky Period Ahead Read More »
Members of OPEC and allies (OPEC+), agreed to a historic production cut of 9.7 million barrels of crude oil per day (m/bpd) to reduce the massive production overhang and set a price floor to limit the fall in oil prices. The production cut is however n…
OPEC+ Production Cuts Will End Profitable Crude Oil Tanker Journeys Read More »
Chinese steel stockpiles reached record highs amid the coronavirus outbreak, but are now steadily easing. This paints the picture of an increased construction activity and a growing seaborne demand for the key dry bulk commodity of iron ore. Demand ret…
Chinese steel stockpiles retreating, a positive indicator for iron ore demand Read More »