A surge in European LNG imports and feeble Asian LNG demand led to increased vessel supply in the West of Suez, curbing LNG shipping rates. In January 2021, vessel rates reached a high of $350,000pd along with the surge in LNG spot prices. However, LNG…
Gas starved Europe deflates LNG shipping rates Read More »
The tanker market didn’t receive any positive news from yesterday’s OPEC decision to stick with its planned output increase of 400,000 b/d for March, despite rising market uncertainties stemming from the latest geopolitical tensions. In its latest week…
Tanker Market Won’t Benefit from OPEC’s Latest Decision Read More »
The world fleet of LNG carriers is expanding fast. A record 85 newbuilding contracts agreed at substantially higher prices in 2021 will boost today’s 610 deep sea trade LNG ships and we expect another year of record contracting in 2022. Ten more LNG ca…
LNG fleet seriously exposed to CII impact Read More »
Rates from North Europe to the US East Coast have increased dramatically over the past year, similar to any other main trade lane. With disruptions hitting container shipping globally, the non-major trade lanes have also experienced reverse cascading &…
The ship recycling market has increased its pace over the past week, with prices rising across the board. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “market levels continue to firm without any significant sales to report i…
Ship Recycling Market Picks Up Speed Read More »