shipping market

Supply Outpaces Demand, But Demand Recovers in 2023’s Second Half

Credits: Viking Life-Saving Equipment
Highlights
  • Significant weakening of the underlying supply/demand balance with more downsides than upsides.
  • Freight rates, time charter rates, and second-ship values all under pressure throughout 2023 and 2024.
  • Head-haul and regional trade demand growth of 1-2% in 2023 followed by 5-6% in 2024. Negative y/y growth through the first half of 2023 but return to growth thereafter.
  • Risks remain and in our downside scenario we instead estimate growth of 0-1% and...

https://mfame.guru/supply-outpaces-demand-but-demand-recovers-in-2023s-second-half/

Maersk Predicts 2.5% Global Trade Contraction In 2023

Credit: guillaume-bolduc-unsplash
  • The ‘overconsumption of goods’ is now leading to a ‘sharp correction’ in demand, the Danish company said in a report.
  • A.P. Moller-Maersk A/S, a bellwether for global trade, said “muted” economic growth is set to push the world’s container shipping volumes down by as much as 2.5% this year.

Maersk sees global trade contracting as much as 2.5% in 2023, states a Money Web news source.

Shipping market has normalised after two years

The shipping market has normalised...

https://mfame.guru/maersk-predicts-2-5-global-trade-contraction-in-2023/

Bunkering Market in China Recovers with Bunker Fuel Demand

Beijing-based commodity market information provider JLC Network Technology Co. on Thursday (13 August) shared its JLC China Bunker monthly report for July, reports Manifold Times.

JLVJLC China Bunker Market Monthly Report (July, 2020)

Bonded bunker fuel sales rise in July

In July, China’s bonded bunker fuel sales grew to about 1.36 million mt, versus 1.18 million mt in June, JLC data showed.

Demand for bonded bunker fuel improved in July as the shipping market recovered with better control of the...

https://mfame.guru/bunkering-market-in-china-recovers-with-bunker-fuel-demand/

COVID-19 impacts food shipments around the global

Following the COVID-19 lockdown and the negative impacts that has brought upon the industries, food shipments around the global are facing rough times. According to Bloomberg, the port backups that have ceased food trade operations are getting worse.

In fact, officials at a major port for rice trade in Philippines told Bloomberg that the terminal was about to shut down as thousands of shipping containers pile up because lockdown measures are making them harder to clear.

With several ports slowing...

https://safety4sea.com/covid-19-impacts-food-shipments-around-the-global/

WTO: World trade could fall by up to 32%

The World Trade Organization (WTO) issued a report stating that global trade is expected to decrease by up to 32% this year due to the disruption of economic activity caused by the COVID-19 pandemic.

Roberto Azevêdo, WTO director-general, stated that “This crisis is first and foremost a health crisis which has forced governments to take unprecedented measures to protect people’s lives. The unavoidable declines in trade and output will have painful consequences for households and businesses, on...

https://safety4sea.com/wto-world-trade-could-fall-by-up-to-32/

COVID-19 impacts fleet development and demand

The impact of the COVID-19 pandemic on the shipping industry is obvious, not only decreasing demand growth prospects for the year across all segments, but also affecting fleet development.

Following BIMCO’s 2020 forecast revision, Peter Sand, BIMCO’s Chief Shipping Analyst, commented that the coronavirus has replaced the long waited 2020 sulphur cap; The demand outlook has weakened and uncertainty has increased across the board.

He added that this combination is reflected in fleet developments...

https://safety4sea.com/covid-19-impacts-fleet-development-and-demand/

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