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Demand for second hand dry bulk carriers has gone up, as was expected after the boost in sentiment over the past few months. In its latest weekly report, shipbroker Banchero Costa noted that “the week 37 in the second hand market has been dominated by the bulk segment with numerous sales. The “Azul Challenge” (203k/04 ... […]

BIMCO expects the fundamental market balance to deteriorate in 2019 which will do nothing to improve freight rates as the 2020 sulphur cap nears. Demand drivers and freight rates Earnings for Capesize vessels have continued their rollercoaster ride, reaching their highest level since the end of 2013, at USD 36,101 per day on 2 September ... […]

Yesterday’s IUMI (International Union of Marine Insurance) conference in Toronto, Canada heard from Rama Chandran, chair of IUMI’s Ocean Hull Committee who reported zero change in the sector’s global premium base in 2018. Global hull premiums were recorded at USD 7 billion which represented 24.4% of the total marine underwriting premium base. The regional split ... […]

More tanker market turbulence should be expected in the coming weeks, as a result of the latest drone attacks, this time on Saudi Arabia’s oil facilities. In its latest weekly report, shipbroker Banchero Costa said that “on Saturday, September the 14th, a reported drone attack occurred on Saudi Arabian oil processing facilities at Abqaiq and ... […]

Even with the sulphur cap expected to give a boost to the tanker market, high fleet growth will put pressure on earnings. Demand drivers and freight rates Rising geo-political tensions have led to disruptions to the tanker shipping industry and all other ships trading in the Persian Gulf. Tensions have risen following the expiry of ... […]

Speaking at yesterday’s IUMI (International Union of Marine Insurance) annual conference in Toronto, Canada, Sean Dalton, Chair of IUMI’s Cargo Committee reported a 2.5% increase in 2018 global premiums to USD 16.6 billion. However, the increase was largely attributable to growth in global trade and exchange rate fluctuations. Dalton characterised the marine cargo market as ... […]

The rebound of the dry bulk market over the course of the past few months, has triggered a flurry of investment in second hand tonnage. In its latest weekly report, shipbroker Intermodal noted that “we are going through one of the rare instances where we see optimism building in the dry bulk industry and, as ... […]

Global growth in container volumes has picked up slightly in the second quarter of the year, with growth in the first seven months reaching 1.2%, compared to the just 0.8% in the first quarter. Demand drivers and freight rates Despite this rise, the growth figure remains substantially below what the industry has been used to, ... […]

When Jason Pomeroy was a young boy, several formative experiences left a lasting impression on him and went on to play a role in his career choices. “A distinct memory is walking with my father when I was eight years old around St Paul’s Cathedral in London and whispering into the curvature of the wall ... […]

The turmoil in the global economy is taking its toll in the tanker market, with demand for oil expected to take a turn for the worse. This is expected to have a negative impact in demand for crude oil tankers as well. In its latest weekly report, shipbroker Gibson said that “global oil demand looks ... […]