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  • Light at the End of the Tunnel for Ship Recycling
    by hellenicshippingnews.. on 3 June 2020 at 21:00

    The ship recycling market seems to be geared to come back to life after a prolonged period of hiatus. In its latest weekly report, shipbroker Clarkson Platou Hellas, commented that “with various reports this week suggesting the lockdown across the Indian sub-continent were set to be lifted after the Eid celebrations, there have been further ... […]

  • Dry bulk trends as we enter summertime: The Baltic Dry Index has hit 1–month high on firmer demand for bulk carriers offering some relatively optimistic signs
    by hellenicshippingnews.. on 3 June 2020 at 21:00

    Capesizes supported by firm iron ore demand The capesize segment is seen supported by the robust steel production in China, the world’s largest steelmaker. This, in turn, has increased demand for the raw ingredient of iron ore and therefore has been assisting the capesize carriers, both on the physical and paper side. Indeed, capesize earnings ... […]

  • The Future of Bunker Hedging
    by hellenicshippingnews.. on 3 June 2020 at 21:00

    Last week the CEO of a large bunker trader wrote a great piece about how small and mid-sized shipping companies are not actively hedging their bunker exposure using derivatives. Bunker prices have risen $90 in the last month. To put this into context, in late April if a shipowner fixed an end-May cargo requiring 1,000mt ... […]

  • Newbuilding Market of “Two Worlds”
    by hellenicshippingnews. on 2 June 2020 at 21:00

    Ship owners have reentered the newbuilding market, but only for the segments which have shown the most potential. In its latest weekly report, shipbroker Allied Shipbroking said that “the vast difference in sentiment being noted between the dry bulk and tanker sectors was perfectly depicted last week in the newbuilding market. On the one hand, ... […]

  • DNV GL launches new certification in infection prevention for the maritime industry
    by hellenicshippingnews. on 2 June 2020 at 21:00

    DNV GL, the world’s leading classification society, has launched a new certification in infection prevention for the maritime industry. The release of this custom certification aims to help the maritime industry resume operations better prepared for COVID-19 or other emerging pathogens. Genting Cruise Lines is the first customer working towards the CIP-M certification for their ... […]

  • EU grants €7.5 million to research: Autonomous ships meet automated ports
    by hellenicshippingnews. on 2 June 2020 at 21:00

    The project “Advanced, Efficient and Green Intermodal Systems” (AEGIS) will develop new and more competitive systems for waterborne transport. Inland and short sea ships and their ports are critical parts of Europe’s transport system. With stricter requirements to decarbonization and reduced noise and pollution from the transport sector, the importance should only increase! However, the ... […]

  • China’s Iron Ore Imports Could Offer Some Respite in the Dry Bulk Market
    by hellenicshippingnews.. on 1 June 2020 at 21:00

    A boost in dry bulk demand, mainly from China, would go a long way into alleviating fears of a new crash in the dry bulk market. In fact, signs over the first few months of the year had been encouraging. In a recent report, shipbroker Banchero Costa said that “iron ore trade remains remarkably resilient ... […]

  • Grain and soya trade: a bright outlook
    by hellenicshippingnews.. on 1 June 2020 at 21:00

    Events in the past few months have darkened the outlook for many seaborne dry bulk commodity trades in 2020 and later. Uncertainty about future global trends, both in the near and longer term, has been greatly intensified by the economic recession resulting from the coronavirus pandemic. Yet grain and soya trade looks well placed to ... […]

  • Dip in demand: US to push methanol cargoes towards Asia and Europe
    by hellenicshippingnews.. on 1 June 2020 at 21:00

    A slump in methanol demand is forcing the US to push more methanol cargoes to Asia and Europe. Therefore, we expect freight rates for coated MR2 tankers to improve on these routes. The coronavirus (COVID-19) pandemic has hit the global economy harder than expected with countries applying various degrees of lockdowns to prevent its spread. ... […]

  • Tanker Newbuildings Hard to Come By
    by hellenicshippingnews.. on 31 May 2020 at 21:00

    New tonnage in the tanker market could become scarce in the next few years, in what appears to be a silver lining amid the pandemic. In its latest weekly report, shipbroker Gibson said that “setting aside the exceptional volatility in tanker rates, Covid-19 outbreak and the dramatic changes in world oil markets, one of the ... […]

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