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  • Middle East Tensions to Impact the Tanker Market
    by hellenicshippingnews... on 23 April 2024 at 21:00

    The tanker market is bound to be further impacted by the escalation of the Middle East tensions. In its latest weekly report, shipbroker Xclusiv said that “news of an Israeli strike on Iranian territory, potentially escalating tensions in the Middle East, sent shockwaves through global markets. Geopolitical uncertainties loom large, capable of swiftly altering the ... […]

  • Dry Bulk Market: Capesize C3 Route South Atlantic Overview Supply
    by hellenicshippingnews... on 23 April 2024 at 21:00

    According to the Capesize C3 South Atlantic overview provided in the image below, during the third week of April, there was a notable 4% decrease in ballast vessels bound for the South Atlantic, coupled with a significant surge of 72 vessels waiting to load. Analysis of forthcoming arrivals in the South Atlantic over the next ... […]

  • Iron ore shipments up 3.8% despite weak Chinese demand
    by hellenicshippingnews... on 23 April 2024 at 21:00

    “In the first quarter of 2024, global iron ore shipments rose 3.8% y/y on expectation of strong Chinese steel production which, however, failed to materialise. Iron ore supply has grown faster than Chinese demand which could lead to weaker shipments ahead,” says Filipe Gouveia, Shipping Analyst at BIMCO. During the start of the year, Brazilian ... […]

  • LNG Shipping: High Supply Suppresses Rates as Trade Routes Shift
    by hellenicshippingnews... on 22 April 2024 at 21:00

    LNG shipping is undergoing major shifts since the start of 2024. In its latest weekly report, shipbroker Intermodal said that “during Q1 of 2024, the LNG shipping market experienced major disruptions and shifts that significantly altered global trade routes and market fundamentals. The year commenced with logistical challenges, particularly highlighted by persistently low water levels ... […]

  • IBIA and BIMCO team up to collaborate on fuel and maritime challenges
    by hellenicshippingnews... on 22 April 2024 at 21:00

    IBIA – The International Bunker Industry Association and BIMCO have signed a Memorandum of Understanding (MoU) to collaborate on some of the monumental challenges and opportunities within the areas of bunker, marine energy and maritime sectors and help facilitate shipping’s decarbonisation efforts. The parties have agreed to leverage their respective expertise and resources to develop ... […]

  • New requirements for vessels with engine or shaft power limiters
    by hellenicshippingnews... on 22 April 2024 at 21:00

    New requirements will come into force from 29 April at the ports of Melbourne and Geelong for vessels equipped with a mechanical or software-based engine or shaft power limiter in accordance with IMO requirements. As stated in the Ports Victoria Operational Instruction (OI) No.01-2024, the IMO has adopted measures under the MARPOL Convention requiring certain ... […]

  • Crude Tanker Market Fundamentals Looking Healthy
    by hellenicshippingnews... on 21 April 2024 at 21:00

    The crude tanker market could be set for a positive future, as ton-mile demand is about to increase. In its latest weekly report, shipbroker Gibson said that “earlier this month the IEA released its monthly oil report, offering for the first time their analysis of how oil markets could shape up in 2025. The agency ... […]

  • Dry Bulk Market: Positive Week for Capesizes
    by hellenicshippingnews... on 21 April 2024 at 21:00

    Capesize The Capesize market witnessed an eventful and generally positive week. Early in the week, a subdued start led to cautious attitudes among market participants, with slight declines in the BCI 5TC and C3 index. However, a notable turnaround occurred midweek, as sentiment improved markedly, particularly in the Pacific market. Increased coal demand from East ... […]

  • Is the decline in global piracy over?
    by hellenicshippingnews... on 21 April 2024 at 21:00

    A global resurgence Global piracy and armed robbery incidents increased by 4% in 2023 compared to 2022, according to the International Maritime Bureau’s Piracy Reporting Centre (IMB PRC). While this does not appear to be a substantial overall change, a closer look at the figures do reveal some alarming trends. First and foremost, the resurgence ... […]

  • Canadian Coal Exports on the Rise in 2024
    by hellenicshippingnews. on 19 April 2024 at 21:00

    Canada has emerged as one of the exporters with the biggest increase in seaborne coal exports during 2023, with the upwards trend maintaining momentum in 2024 as well. In its latest weekly report, shipbroker Banchero Costa said that “global coal trade has really picked up pace in recent months, and is now fully back to ... […]

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