In the normal course of trade, situations may arise whereby shipowners are subjected to commercial pressure to take certain actions – involving additional risks – in return for receiving a Letter of Indemnity (LOI) from their charterers, sh…
Enforceability of LOIs – a practical guide Read More »
Global crude steel production posted its first drop in more than three years in September, reflecting a global economic slowdown. The World Steel Association counted 151.5m tonnes of production for the 64 countries that report to it last month, a 0.3% …
Steel production dip Read More »
The operation of the new Dangote refinery in Nigeria is bound to affect the West African tanker market. At this point, it’s only a matter of when, not if. In its latest weekly report, shipbroker Gibson said that “a few months ago it was reported that t…
Tankers: The Nigerian Factor Read More »
Capesize The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, the Capesize market closed the week down at $24,637. The Atlantic Basin saw stronger gains initially as many s…
Dry Bulk Market: Capesize Market Slightly Higher Read More »
The EU’s demand for palm-based biodiesel is expected to decrease in the long term due to the region’s ban on the use of palm oil in biofuels. The overall volume of biodiesel carried by chemical tankers grew at a CAGR of 7.9% during 2013-18 and is forec…
EU ban on palm-based biodiesel to negatively impact Europe-Asia vegoil trade Read More »