Weekly Outlook

The latest updates from the tanker market reveal varied trends across different vessel classes, reflecting ongoing dynamics in global shipping.

July has seen a gradual increase in stems in the VLCC market, following a relatively light June with fewer than 140 cargoes. Rates have shown signs of stabilization around WS 50 for TD3, despite a recent decline in offers from Chinese charterers.

The Suezmax market remains active in the West, buoyed by a steady...

https://mfame.guru/current-trends-in-the-global-tanker-market-insights-across-vlcc-suezmax-and-aframax-segments/

• The VLCC (Very Large Crude Carrier) market has seen a slight upward trend as May comes to a close, with rates from the Middle East Gulf to China rising approximately 15% since the start of the month.
• Despite this improvement, the market’s stability remains uncertain due to its volatile nature.
• Fluctuations in vessel supply continue to influence market prices, with anticipation of upward pressure as June cargoes come into play.

Rising Chinese SPR (Strategic Petroleum Reserve) inventories and...

https://mfame.guru/breakwaves-insights-on-the-tanker-market-may-21-2024/

The introduction highlights the purpose of the Cancelled Sailings Tracker, which provides insights into blank sailings announced by different shipping alliances compared to the total number of scheduled sailings. It also mentions the availability of an annual subscription to Container Capacity Weekly Insight for more detailed analysis.

This section provides an overview of the weekly analysis of cancelled sailings across major East-West trade routes such as...

https://mfame.guru/understanding-cancelled-sailings-trends/

A quiet week for the VLCCs as a lot of under the radar activity have resulted in TD3C sliding 3-4 points from WS 66.15 to WS 62.70. Charterers have done well in keeping a lid on the requirements being worked as owners have been satisfied with fixing last done, or slightly less depending on the voyage/counterpart/terms. The April MEG count lacking about 20 cargoes or so to compare with the last couple of months, and the tonnage list should be more than enough stacked to absorb the remaining...

https://mfame.guru/tanker-market-update-atlantic-surge-and-mediterranean-momentum/

• The correction in dry bulk is here as spot rates look for a bottom – Although the excitement in dry bulk shipping remains unabated, Capesize spot rates have now declined by about 40% from recent highs, but remain above comparable last year’s levels, at least at the time of writing. As we have discussed lately, the fundamentals of the dry bulk sector did not warrant the recent elevated spot rate levels, and it was the disruptions in vessel supply, especially in the Atlantic market, that led to...

https://mfame.guru/chinas-economic-resilience-impact-on-dry-bulk-shipping/

Similar to last week, the Capesize started positively but it was soon paused. The Capesize 5TC struggled in the negative territory in the rest of the week, breaking the $30,000 threshold and eventually settling at $28,875 on Friday. After the cyclone across Western Australia, C5, the West Australia to Qingdao trade continued its turbulent journey by reaching over $13 mid-week before ultimately closing at $12.171. C3, the Brazil to Qingdao trade hovered at the level of $30 but ultimately...

https://mfame.guru/capesize-market-turbulence-amidst-cyclone-aftermath/

Across the major East-West headhaul trades: Transpacific, Transatlantic and Asia-North Europe & Med, 48 cancelled sailings have been announced between week 14 (1 Apr-7 Apr) and week 18 (29 Apr-5 May), out of a total of 650 scheduled sailings, representing 7% cancellation rate.

During this period, 46% of the blank sailings will occur on the Transpacific Eastbound, 33% on the Asia-North Europe and Med and 21% on the Transatlantic Westbound trade.

Over the next five...

https://mfame.guru/analysis-of-cancelled-sailings-and-impact-of-baltimore-bridge-collapse/

In the closing days of March, there has been a discernible softening of momentum in the Capesize Brazil to North China rates, following an upturn recorded in the previous week. Nevertheless, the recent momentum remains notably firmer than levels observed a month ago. Notably, the larger vessel size categories continue to exhibit strength, with a continued decrease in the number of ballasters for Capesize and Panamax vessels in Southeast Asia and Africa. Furthermore, the end of the month has...

https://mfame.guru/tonne-day-growth-analysis-assessing-momentum-across-vessel-categories/

Middle East

The AG VLCC market is ending the week on a firm footing as we continue to see Charterers even at this late stage taking tonnage off March dates. The April programme should come out over the weekend but we have only seen a few COA’s and Basrah questions so far, so this should increase owners expectations that next week will be busy hence creating an uptick in rates. Today we are calling 270,000mt AG/China run at ws 75 and 280,000 AG/USG is now at the ws 48 level.

The list in...

https://mfame.guru/fueling-the-economy-a-deep-dive-into-crude-oil-shipping-trends/