The Very Large Crude Carrier (VLCC) fleet has grown at a staggering rate of 8% year to date in November. The 65 VLCCs delivered in the first 11 months of 2019 will mark the highest number of deliveries since 1976. A total of 19m DWT has been delivered …
Shipping number of the week: Most VLCCs delivered in 40 years Read More »
When words like ‘deterioration’, ‘uncertainty’ and ‘weak’ are used in connection with trade and investment flows by a body as eminent as the OECD, it’s a cause of great concern for shipping. In his analysis of the organisation’s latest Economic Outlook…
Trade outlook deterioration continues ‘unabated’ Read More »
Tanker owners had their moment in 2019, during these crazy few weeks of October, but with the market gradually retreating since, they are quickly returning to the grim reality of the current market fundamentals. In its latest weekly report, shipbroker …
Tanker Market: Mild Optimism Should be the Norm Ahead of 2020 Read More »
Fitch’s Sector Outlook: Negative We maintain a negative sector outlook for global shipping because of the forecast slowdown of global economic growth and a balance of risks skewed to the downside. All shipping segments have been demonstrating more prud…
Under an amended NYPE charter party incorporating the BIMCO non-payment of hire clause, the Club’s charterer Member deducted US$8,015.40 in respect of the vessel’s underperformance. This deduction was made from the 4th hire instalment. Whilst this hire…