Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefined and refined oil products of all types. As such there is a now growing demand for oil tankers to be used as floating storage. Potential is…
Floating storage of oil cargoes Read More »
With the global economy expected to be in recession mode from the second quarter onwards, expectations for a shipping industry rebound in 2020 are practically non-existent, with the sole silver lining being the low oil price environment, which has temp…
Shipping Is Just Waiting for the Inevitable Read More »
PMI readings for April indicate a massive weakening of global manufacturing. The manufacturing PMI readings serve as a bellwether for container shipping volumes for the months ahead, and recent data suggest that 2020 will be a stress-test for container…
China’s New Export Orders index at 33.5 – container shipping demand in free fall Read More »
A slump in oil demand on the back of Covid-19-enforced global lockdowns has sent the crude and tanker trades into a tailspin. With the world effectively awash with surplus oil and crude prices at historically low levels, commodity traders have been cli…
Oil storage not a quick fix Read More »
Shipowners are looking for ways to exploit the current market uncertainty. As such, shipbrokers are reporting a number of deals both in the newbuilding and the S&P market. In its latest weekly report, shipbroker Allied Shipbroking said that “it was…
Newbuildings and S&P Deals Make for an Interesting Reading Read More »