Iran and Israel traded fire raising concern that the Middle East shipping crisis could escalate. Iran hijacked an Israeli-owned 15,000 teu containership, the MSC Aries, on April 13. Houthis, meanwhile, continued their attacks on merchant shipping, pushing further and further away from their shores...
Last month we wrote that, “If it’s a case of full steam ahead and damn the torpedoes, dry cargo shipowners are happy to pay up and take the risk.” Any ship they bought in March will not have delivered yet, but will the buyers therefore be relieved not to have experienced the 16% fall in …
Shadow tanker sales continue to proliferate, something one Asia-based broker compares to a house of cards stuck together with degradable glue. “They solidly support prices for now but one small change in policy or policing and the whole thing goes kerplunk,” he advises. Prices for tankers are...
https://splash247.com/secondhand-prices-getting-too-hot-to-handle/
Prospective buyers of secondhand tonnage have had pause for thought this month with prices now getting to the point where the numbers do not necessarily work, especially for modern tonnage with brokers anticipating a much slower second half of the year in the sale and purchase markets. Some big...
Oil prices have been notably steady in the context of worsening geopolitical tension as Iran began direct attacks on Israel in March. WTI was $80.63 on March 22 and $83.14 on April 21 while, over the same period, the OPEC basket price increased from $85.56 to $87.35. There was a short, sub-5% spike...
The wave of newbuildings which will swell the liner fleet to over 30m teu has been building in 2024. To date this year, 140 container ships of almost 925,000 teu have delivered into service, adding to the year-end fleet of around 6,050 ships / 28.1m teu. Eight ships of 81,800 teu have delivered to...
The risk of not having enough suitably skilled workers at sea going forward is something the industry is having to grapple with, casting its net wider and wider to fill the ranks. Crewing specialist Danica’s latest seafarer survey suggests the crew employment market has tipped in favour of...
At the start of Singapore Maritime Week the latest shipping hub survey was published. This one was authored by DNV and Menon Economics and to no great surprise given the timing of the publication the Southeast Asian city-state was crowned top once again. The ranking model created by DNV and Menon...
A combination of human skill and AI-powered tools will likely be in store for years to come when it comes to achieving the best outcomes in freight trading, finds Mads Frank Markussen, the head of research and market intelligence at Danish shipowner and freight trader Navi Merchants, part of...
Prices for private maritime security guards onboard have shot up this year, new analysis from sister title Splash Extra shows. With the Red Sea disruption created by the Houthis latterly combining with resurgent pirate attacks off Somalia, demand for armed guards has leapt in 2024, and with it...
https://splash247.com/prices-for-private-maritime-security-guards-shoot-up/