Market Watch Archives - Page 88 of 142

Boxship Demolitions Abandoned Amid Spike in Freight Rates

14 January 2021

Containership demolition virtually dried up in December as shipowners and carriers deployed all available tonnage to meet surging demand across trades, says an article published in the loadstar.

Huge spikes in Ocean freight rates

Huge spikes in ocean freight rates in the second half of last year and corresponding hikes in charter hire rates enabled previously uneconomic smaller containerships to become sought-after by carriers desperate to plug gaps in their networks and take advantage of the...

https://mfame.guru/boxship-demolitions-abandoned-amid-spike-in-freight-rates/

Scorpio Bulkers Announces Its $18.65m Vessel Sale

14 January 2021

Scorpio Bulkers has sold an ultramax bulk carrier to an an unaffiliated third party, says a press release published on their website.

The Vessel value

Scorpio has sold the 2017-built ultramax SBI Libra, which has been on long-term charter from Ocean Yield, to an unnamed third party with delivery scheduled this quarter.

Scorpio says it has sold the vessel for $18.65m, while Ocean Yield says that Scorpio declared an option to sell the vessel netting the Norwegian company $20m. According to...

https://mfame.guru/scorpio-bulkers-announces-its-18-65m-vessel-sale/

New Challenges For Shippers In 2021

13 January 2021

Scheduling ‘slidings’, ad-hoc port omissions and short-notice network structural changes are replacing blankings as the new challenges for shippers in 2021, says an article published in the loadstar.

Maersk and MSC latest Advisory

The latest advisory on “service adjustments” comes from 2M partners Maersk and MSC, relating to the transpacific tradelane.

MSC said it had decided to make some“additional structural changes” on its transpacific network until further notice.

And Maersk said: “Due to...

https://mfame.guru/new-challenges-for-shippers-in-2021/

Fierce Bidding Wars In Order To Secure Equipment And Space

13 January 2021

Major forwarders are engaged in fierce bidding wars in China, in order to secure equipment and space to North Europe, says an article published in the loadstar.

And several carriers are reported to have opened first- and second-round tenders with the highest bidders for guaranteed shipment this month.

Inviting Offers For Available Slots

According to Chinese forwarder contacts, carriers are inviting offers for available slots on end-January sailings from Shanghai, Ningbo, Qingdao and Yantian, with...

https://mfame.guru/fierce-bidding-wars-in-order-to-secure-equipment-and-space/

Increment Of Container-Ship Orders Does Not Bode Well For Future Freight Rates

13 January 2021

Q4 2020 container-ship orders were the highest since Q3 2015, reports Freight Waves.

A jump in newbuilding orders

In virtually any ocean shipping market, a big jump in newbuilding orders is a headwind for future freight rates. More capacity spread among competing owners strengthens the negotiating hand of cargo shippers.

According to Alphaliner, container-ship orders spiked in Q4 2020. Orders totaled to 673,500 twenty-foot equivalent units (TEUs), the highest quarterly tally since Q3 2015.

That’s...

https://mfame.guru/increment-of-container-ship-orders-does-not-bode-well-for-future-freight-rates/

Tanker Report – Week 1

12 January 2021

A relatively quiet start to 2021. On the new 2021 Worldscale schedule, flat rates fell about 17%. To compensate, fixing rates reflected an upward adjustment on the first working day of the year, but have since eased, reports Baltic Exchange.

VLCC

In the Middle East, 280,000mt to US Gulf via the Cape/Cape routing is assessed almost a point down at WS21 level, while 270,000mt to China is rated two points lower since Monday at WS40.5. In the Atlantic, rates for 260,000mt West Africa to China fell...

https://mfame.guru/tanker-report-week-1/

Scorpio Bulkers Announces Its $22.25m Vessel Sale Deal

11 January 2021

Scorpio Bulkers Inc. has announces the sale of a Kamsarmax vessel, says a press release published in their website.

Sale of vessel

Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) announced that the company has entered into an agreement with an unaffiliated third party to sell the SBI Lynx, a Kamsarmax bulk carrier built in 2018.

Value & delivery

The sale value is approximately $22.25 million. Delivery of the vessel is expected to take place in the first quarter of 2021.

Did you subscribe to our...

https://mfame.guru/scorpio-bulkers-announces-its-22-25m-vessel-sale-deal/

Crude Oil Production Cut Down Slows Down Tanker Recover To Second Half

11 January 2021

According to a Freight Waves article written by their Senior Editor Greg Miller, Analysts have warned that the tanker recovery will be a distant dream as rates are unlikely to recover before the second half of the year over crude oil production cut down

“It feels a bit like someone stole our clothes while we were enjoying a swim,” mused the analyst team at Fearnleys. They were quoting a political saying and referring to what just went down in the tanker market.

Saudi Crude Production Cut...

https://mfame.guru/crude-oil-production-cut-down-slows-down-tanker-recover-to-second-half/

Soaring Container Rates Put European Shippers in Distress

11 January 2021

European shippers and freight forwarders call on the EU Commission to intervene in the container sector.
Both the stake holders are worried about overheated market seen in the past many months.
They feel that the shipping lines’ behavior is harmful to smaller shippers in particular.
The shipping lines have previously rejected such criticism.

A recent news article published in the Shipping Watch written by Christian Carlsen, deals with the challenges faced by European shippers and freight...

https://mfame.guru/soaring-container-rates-put-european-shippers-in-distress/

Baltic Exchange Hits Highest Index in Nearly 3 Months

10 January 2021

Baltic Exchange’s main sea freight index jumped 11% on Friday as high Chinese coal demand drove up capesize rates, reports Baltic NewsDesk.

Coal demand and Capesize rates

The Baltic Exchange’s main sea freight index jumped about 11% to its highest in nearly three months on Friday as high Chinese coal demand drove up capesize rates.

The Baltic dry index leaped 158 points, or nearly 11%, to 1,606, its highest since Oct. 14, 2020.

The main index was up about 17.6% for the week, its highest jump since...

https://mfame.guru/baltic-exchange-hits-highest-index-in-nearly-3-months/

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