Tanker owners could be hit with lower demand for their vessels in a few weeks’ time. In its latest weekly report, shipbroker Intermodal said that “as everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch…
Tankers Could Face Headwinds in May Read More »
We’re operating in uncharted waters. The current and potential effects of the COVID-19 outbreak are difficult to assess and predict, but the way companies plan for uncertainty and respond to events is often watched by the financial markets. As COVID-19…
COVID-19: Top 5 Financial reporting considerations for the Shipping Industry Read More »
The recent cut in oil production by OPEC and its non-OPEC allies (OPEC+) is insufficient to balance the oil market, considering a sharp decline of 23 mbpd in demand in 2Q20 because of the COVID-19 outbreak. OPEC+ has finally managed to reach a historic…
Tanker rates will hit the roof if producers outside OPEC+ fail to curb output in 2Q20 Read More »
Demand for new ships’ acquisitions is diminishing by the day, as ship owners are refraining from more investments. The negative impact of the COVID-19 pandemic on the global economy and world trade, is now expected to trigger the “worst global recessio…
Ship Owners Are Turning Their Backs on More S&P Deals Read More »
INTERCARGO’s 2018–2019 Benchmarking Report is published during a time of much uncertainty in the dry bulk market. The Baltic Dry Index had reached a high above 1,770 points in August 2018, before retreating down to 600 points in February 2019. It then …