After posting another record year of profits, worldwide recessionary and inflationary pressures are now chipping away at ocean carrier fortunes. As far as rates are concerned, our analysts suggest that shippers and freight forwarders will be able to do a little window shopping this year, reports Logistics Management.
Global recession hits container marketGlobal ocean carriers reached the top of the bullish market in 2022 by realizing high profits largely due to...
Asian spot liquefied natural gas (LNG) prices jumped to a more than four-month high this week, tracking firmer gas prices in Europe and the United States, and as major cities in North Asia face warmer-than-usual weather potentially boosting demand, reports Reuters.
Bullish marketThe average LNG price for September delivery into northeast Asia LNG-AS was estimated at...
https://mfame.guru/asian-lng-hits-4-month-high-amid-soaring-u-s-gas-prices/
With oil prices taking a turn upwards and demand expected to pick in the second half of the year, shipbrokers are examining whether this trend is a sign of a more bullish market ahead, which could benefit tankers as well, reports Gibson shipbrokers ltd.
Robust oil demandIn its latest weekly report, shipbroker Gibson said that oil prices are back above $60/bbl, their highest level since January 2020, before the Wuhan lockdown.
The report added, “In normal times rising prices typically suggest...
Very low sulfur fuel, which was a key source of support for refiners in 2020, is likely to see increased supply in 2021, as other transport fuels return to pride of place in the refining slate, reports Platts.
This may prove a boon to the shipping sector which faces choppy waters in 2021.
Oil output to soarThe...
https://mfame.guru/bunkers-to-face-optimistic-2021-amid-boost-in-vlsfo-supply/