Market Watch

Rising oil tanker charter rates, driven by global shipping disruptions, are prompting oil shippers to shift towards longer-term shipping charters. Factors such as geopolitical tensions, sanctions, and logistical challenges are contributing to increased sailing times and heightened shipping costs, driving up demand for vessels, says an article published on reuters web site.

• Rising oil tanker charter rates, propelled by global shipping disruptions, are prompting oil shippers to shift...

https://mfame.guru/long-term-leases-surge-amid-tightening-tanker-supply/

In the dry bulk market, Capesize vessels witnessed steady demand with healthy volumes of enquiries for various dates, particularly in the first half of April, while activity in East Australia remained relatively subdued. Panamax rates surged due to a shortage of ships and robust demand, especially from the North Atlantic and East Coast South America regions, leading to increased rates and positive sentiment. Supramax market stabilization was noted, with rising demand in the US Gulf and East...

https://mfame.guru/weekly-dry-bulk-market-overview-capesize-panamax-and-supramax-insights/

Based upon initial feedback to The Loadstar, there appears to have been only a handful of shippers, forwarders and NVOCCs that came away from the S&P Global TPM24 conference in Long Beach, California, last week with new transpacific contracts, says an article published on loadstar website.

• Feedback from the S&P Global TPM24 conference indicates limited success in securing new transpacific contracts, with only a few shippers, forwarders, and NVOCCs able to do so.
• Some parties are waiting...

https://mfame.guru/transpac-carriers-shippers-response-to-new-contract-offers/

• The recent Red Sea conflict, marked by the first fatal Houthi attack on a commercial vessel, has led major container shipping companies to divert routes around the Cape of Good Hope for crew and cargo safety.
• This shift has resulted in a significant surge in global container spot rates, exceeding 200% in a matter of weeks.
• However, the initial uncertainty-driven spike has been followed by a decline, with the Drewry World Container Index falling by 4.54% and the Freightos Baltic Daily Index...

https://mfame.guru/carriers-pricing-power-amid-red-sea-conflict-challenges-and-trends/

https://mfame.guru/impact-of-ukraine-and-middle-east-conflicts-on-maritime-trade/

• The recent sinking of the Rubymar in the Red Sea due to a Houthi missile attack has brought heightened maritime risks in the Middle East, potentially influencing tanker rates and insurance premiums.
• Despite no immediate price hikes, the incident highlights the vulnerability of vessels in the region.
• The article explores the implications for tanker rates, insurance premiums, and the potential environmental impact, emphasizing the need for strategic considerations in navigating these waters.

https://mfame.guru/sinking-of-rubymar-amplifies-maritime-risks-impacting-tanker-rates-and-insurance-premiums/

War-risk premiums may have increased by as much as 900% since the Houthi attacks on shipping in the Red Sea began.

This is one of several troubling predictions in a United Nations Conference on Trade and Development (UNCTAD) report released yesterday.

UNCTAD said that, according to some sources, from below a level of 0.1% of the value of a vessel, during the final weeks of last year, war-risk premiums had jumped to as much as 1% of vessel value by the start of this month.

Meanw...

https://mfame.guru/red-sea-disruptions-drive-up-war-risk-insurance-premiums/

War-risk premiums may have increased by as much as 900% since the Houthi attacks on shipping in the Red Sea began.

This is one of several troubling predictions in a United Nations Conference on Trade and Development (UNCTAD) report released yesterday.

UNCTAD said that, according to some sources, from below a level of 0.1% of the value of a vessel, during the final weeks of last year, war-risk premiums had jumped to as much as 1% of vessel value by the start of this month.

Meanw...

https://mfame.guru/red-sea-disruptions-drive-up-war-risk-insurance-premiums/

• Shipping rates, particularly for Very Large Crude Carriers (VLCC), surged in February, reaching their highest levels since November 2023.
• Tensions in the Red Sea region and attacks on commercial vessels have led to disruptions, causing vessels to opt for longer routes around Africa and impacting global trade.
• The United Nations Conference on Trade and Development (UNCTAD) issued a warning about potential long-term consequences, emphasizing threats to global supply chains and increased costs.
• Mo...

https://mfame.guru/shipping-rates-experience-volatility-amid-red-sea-crisis-in-february/