Global trade growth looks set to plummet from 10.1% in 2021 to 4.3% in 2022, with further slippage to 2.5% in 2023, according to the latest International Monetary Fund’s World Economic Outlook (WEO). While this is noted as higher growth than in pre-pan…
Hard reining in of trade growth Read More »
The dry bulk market has failed to impress over the past few weeks, with the gloom now starting to translate to asset values as well. In its latest weekly report, shipbroker Allied Shipbroking said that “it is a fact that conditions in the dry bulk mark…
Dry Bulkers Values Enter Bearish Territory Read More »
Excluding intra-EU trade, the European Union’s average monthly clean oil product imports amounted to 10.0 million tonnes in 2019 but declined to 9.3 million tonnes in 2020 and 2021. Due to the high import volumes in July to October, the 2022 year-to-da…
EU clean oil product imports up 18.3% y/y on increased Asian volumes Read More »
More VLCCs managed to secure employment in August, as higher demand for crude spurred by stronger refinery processing and robust refined products cracks in the Atlantic Basin boosted utilization rates significantly. Demand for shipping crude oil increa…
The ship recycling market is “hungry” for more vintage tonnage, which is rather scarce at present, while the industry’s focus is now shifting towards decarbonization. In its latest weekly report, shipbroker Clarkson Platou Hellas noted that “the main t…
Lack of Tonnage Keeps Hampering the Ship Recycling Market Read More »