Freight prices

Tanker Freight Charges Are Expected To Rise Quickly

Credit: Tomas Williams/Unsplash

According to the maritime group Bimco, freight prices for petroleum and goods will increase quickly in 2023 and 2024, mirroring the spike in rates that occurred in 2008, when they frequently exceeded $100,000/d.

Financial crisis

According to Bimco, demand for product tankers will increase by 4.5–5.5% in 2023 and 2-3% in 2024, while demand for crude tankers would increase faster than supply by 2.5–3.5% in both 2023 and 2024. Also, due to the EU embargoes on Russian...

https://mfame.guru/tanker-freight-charges-are-expected-to-rise-quickly/

The Next Energy Threat Is From Surging Costs of Shipping

  • Rise in international freight prices
  • Ship scarcity is a big threat 
  • Shipowners are demanding their ships back

Costs for transporting energy are rising as a lack of ships to transport necessary fuels this winter results from Europe’s rush for supply.

Costs over twice 

As the situation in Ukraine shows no signs of coming to an end, ships are transporting liquefied natural gas, diesel, and petroleum to Europe from farther afield than usual to replace Russian energy supplies. According to maritime...

https://mfame.guru/the-next-energy-threat-is-from-surging-costs-of-shipping/

As Peak Season Is Underway, Maritime Industry To Face Congestion

  • U.S. Supply chains around the world continue to be vulnerable to interruptions or disruptions and it’s expected to take long into next year until there is a stabilization in freight rates.
  • Heading into Golden Week, the eight-day holiday in the first week of October in China, more sailings are expected to be cancelled as manufacturers will be shut down so less trade will move out of the ports.
  • The next phase of the IMO program to reduce carbon emissions in maritime will take vessels out of...

https://mfame.guru/as-peak-season-is-underway-maritime-industry-to-face-congestion/