The global shipping industry is currently wrestling with a significant escalation of geopolitical tension in the Middle East following the reported de facto closure of the Strait of Hormuz. While the UK Maritime Trade Operations (UKMTO) has clarified t…
Navigating a de facto closure Read More »
The tanker market is still experiencing significant uncertainty and shifts of trade routes, as the Hormuz Strait, remains largely closed. In its latest weekly report, shipbroker Gibson said that “the crisis in the Middle East shows no signs of abating….
Tankers: Hormuz Closure and The Bigger Risks for the Oil Market Read More »
Capesize The market experienced a volatile but ultimately firmer week, shaped largely by fluctuations in bunker prices. Early in the week, the market strengthened sharply as Brent crude surged above the $100 threshold, inflating voyage calculations and…
Dry Bulk Market: Capesizes Firming Up Read More »
Drewry expects about 25% of the total vessel demand to be for replacement tonnage by 2035. While over 550 LNGCs will be required by 2035, 140 LNGCs will be needed to offset the tonnage lost from accelerated demolitions. We expect 100 steam turbine carr…
Shrinking lifeline for steam LNGCs — Are TFDE/DFDE carriers next? Read More »
The tanker market has shown a strong rebound during the past month, according to OPEC’s latest monthly report. VLCC spot freight rates showed a strong performance in February, as fleet consolidation and rising tanker demand on long-haul routes tightene…
Tanker Market Rebounded in February Read More »