An upturn in iron ore prices on the back of promises from Chinese President Xi Jinping to take more effective measures to achieve the country’s economic and social development goals has proven to be just a blip. When Xi made his comments on June 23, ir…
Iron ore stuck in downward spiral Read More »
The existing supply/demand imbalance of the LNG market is expected to continue unabated in the coming months, with producers expected to face significant challenges to keep the market well supplied. In its latest weekly report, shipbroker Intermodal sa…
LNG Market Still Facing Serious Challenges Read More »
China’s crude oil imports have doubled from 2011 to 2021 and now account for 20% of global seaborne crude oil volumes. While China’s January to May 2022 seaborne crude oil imports are down 2.2% y/y, a 51.4% m/m boost in imports from Russia has helped l…
China’s seaborne import of Russian crude jumps 51.4% in May Read More »
It’s been another bumper month for long-term contracted ocean freight rates, as the cost of securing container shipments climbed by 10.1% in June. Following on the heels of a record 30.1% hike in May, this now means rates stand 169.8% higher than this …
Xeneta: Long-term shipping rates shrug off uncertainty to rise again Read More »
Ship owners have sped up their newbuilding contracting activity, opting for more modern tonnage. In its latest weekly report, shipbroker Allied Shipbroking said that “the impressive performance of the newbuilding market continued for yet another week. …
Newbuilding Activity Picks Up Pace Read More »