Oil demand growth is expected to slow to 1.6 million barrels per day (bpd) in 2023, down from the 2.1 million bpd anticipated for 2022, according to the International Energy Agency (IEA). Making the predictions in its seminal World Energy Outlook 2022,…
Economic headwinds’ stunt oil demand Read More »
The demise of the Chinese real estate market has caused a ripple effect in the dry bulk shipping market. In its latest weekly report, shipbroker Allied Shipbroking said that “the dry bulk shipping market has been on an overall downward trajectory since…
China’s Real Estate Slump is Hitting the Dry Bulk Shipping Market Read More »
Values for five year old VLCCs are currently at the highest levels since 2009. For example, 320,000 DWT, 5YO are currently valued at USD 95.74 mil, up 33.12% from the start of the year from USD 71.92 mil in January. Overall, Tanker sales have risen thi…
Tanker values at 13 year high Read More »
Contracting of bulk carriers spiked in 2021 and reached 48.4 million DWT, driven by a positive congestion driven cycle which brought an opportunity for investment. However, in the first ten months of 2022 only 11.7 million DWT were contracted as concer…
Bulk carrier deliveries could hit 19-year low in 2024, boosting contracting Read More »
More newbuilding ordering activity was notable this past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “a positive week for the newbuilding market took place, with the LNG sector seemingly being the main driver right…
Newbuilding Market Draws More Investment Read More »