With prices in the ship recycling market staying near record levels of well above $600/LT LDT, some owners, especially from the tanker segment were tempted to cash in. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “prices soa…
Demolition Market Finding Some Footing as Wet Tonnage is Sold Read More »
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current market for seaborne transportation of crude oil is weak and has caused freight rates to drop to multi-year l…
Only 3 VLCCs sold for demolition in 2021 as secondhand prices tempt Read More »
Overview At its meeting held from 26 to 30 July 2021, the Legal Committee (LEG) of the International Maritime Organization (IMO) agreed on a unified interpretation of the test for breaking a shipowner’s right to limit liability under certain IMO conven…
IMO Legal Committee Agrees Unified Interpretation On Limitation Of Liability Read More »
The tanker market’s demise so far this year, is reflected in the S&P market as well. In its latest weekly report, shipbroker Intermodal said that “unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers mark…
Tankers Demand Falls in Line With Freight Market Read More »
Reefer container freight rates have risen sharply through 2021, but in contrast to dry cargo rates, are forecast to rise further in 2022, driven by catch up on North-South routes, according to Drewry’s recently published Reefer Shipping Annual Review a…
Reefer container freight rates to outgun dry cargo rates in 2022 Read More »