freight

Shipping Industry Facing Historic Capacity Crunch Due To Blank Sailings

  • Freight forwarders to Asia facing tightest capacity crunches due to labor shortage.
  • CMA CGM is set to blank 23 North Europe-Asia sailings from now until 2 June.
  • It is due to recent demand slowdown in the context of the coronavirus situation.
  • An emergency space surcharge of €50 per 20ft and €100 per 40ft has been imposed.
  • It is for all shipments from North Europe, UK and Scandinavian ports to all Mediterranean and North African ports.
  • Many carriers have declared the situation as a force majeure...

http://mfame.guru/shipping-industry-facing-historic-capacity-crunch-due-to-blank-sailings/

Coronavirus Creates a New Demand for Product Tankers

  • Product-tanker spot rates have risen when freight rates are collapsing.
  • LR2s with a capacity of 80,000-119,999 DWT is now around $26,000 per day.
  • MRs with a capacity of 25,000-54,999 DWT are now earning $15,000-$18,000 per day.
  • Scorpio Bulkers reported a net income of $12 million for the fourth quarter of 2019 versus a net loss of $17.7 million.
  • Attacks on the Saudi facilities cut that country’s products exports by 600,000-1 million barrels per day.
  • Coronavirus outbreak in China is having a...

http://mfame.guru/coronavirus-creates-a-new-demand-for-product-tankers/

Japan’s Busiest Port Registers Declined ‘In and Out’ Freight Volumes

Freight volumes in and out of Japan’s busiest port, the Port of Tokyo, have declined in the first six months of 2019 compared to the first six months of 2018, new comprehensive data shows, reports American Shipper.

Decreased activity at Port of Tokyo

The Port of Tokyo is Japan’s busiest container port with just under 4.6 million twenty foot equivalent units of throughput. 

According to recently released data from the Tokyo metropolitan government, both import and export freight volumes at the Port...

http://mfame.guru/japans-busiest-port-registers-declined-in-and-out-freight-volumes/

US crude exports wane on tight Brent-WTI spread but low freight keeps door open

A tight spread between international crude benchmarks Brent and West Texas Intermediate has depressed US crude export flows during the past four weeks, according to sources and data from US Customs and S&P Global Platts Analytics. However, low freight rates have created opportunities to move US crude cheaply.

The US exported 2.35 million b/d for the week ending April 5 – the lowest outflow since January 25, when 1.94 million b/d was exported, according to weekly data from the US Energy...

https://blogs.platts.com/2019/04/17/us-crude-brent-wti-freight/

Bipartisan commitment to National Freight and Supply Chain Strategy

Shipping Australia has joined with other industry associations represented at the ALC Forum held in Melbourne this week to welcome commitment from both the sides of politics to progressing the National Freight and Supply Chain Strategy.

The Deputy Prime Minister said “Good progress is being made in partnership with all levels of government and it will be a key item of discussion at the next COAG Transport and Infrastructure Ministerial Council Meeting.”

Commenting on the Strategy during his...

https://shippingaustralia.com.au/bipartisan-commitment-to-national-freight-and-supply-chain-strategy/

Is 2017’s impressive freight forwarding growth continuing in 2018?

Transport Intelligence (Ti) has published a short update to its Global Freight Forwarding market report, following half-year figures for 2018. The data showed growth of 4.9%, year on year with air freight forwarding up 5.3% and sea freight rising 4.3% – perhaps better than some expected. The numbers indicate full-year growth in the market of 4.1%, down considerably from last year’s 8% growth. But, as Ti notes, this is primarily …

The post Is 2017’s impressive freight forwarding growth continuing...

https://theloadstar.co.uk/2017s-impressive-freight-forwarding-growth-continuing-2018/

LIBOR: Shipping’s elephant in the room

The shipping industry’s vessel loans are typically taken on the basis of a premium over LIBOR. LIBOR has been experiencing upward pressure since early 2017, as major central banks have moved to a tightening stance. The three-month LIBOR has risen to 2.3% as of April 2018, the highest rate seen since November 2008, the early days of the financial crisis.

As LIBOR increases, stresses on shipping industry balance sheets, cash flows and earnings also rise. With rates still at relatively low levels...

http://blogs.platts.com/2018/05/03/libor-shipping-elephant-in-the-room/

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