UNCTAD’s latest seaborne review has some forecasts to shock shipowners. Adam Kent, MSI’s Managing Director, comments on UNCTAD’s latest numbers placing them in context. Read more at Splash247.com
LNG spot rates take a dive
Spot rates fall from unprecedented heights as more ships are being released into the market.
Some of the floating storage off Europe is beginning to unwind, while the restart of the Freeport terminal in the US, which suffered an explosion and outage earlier in the year, has been pushed back, freeing up ships, said MSI’s gas analyst Andrew Buckland. Read more at LloydsList
Softer tone prevails in dry bulk market
Spot rates have been on a downward slope across all bulker segments mainly due to lower demand and an unwinding of fleet inefficiencies, with weakness expected into the first quarter of next year.
THE dry bulk market is firmly on a downward slope, with weakness expected to continue into the new year. “Headwinds will strengthen in the months ahead,” says MSI. Read more at LloydsList
Volatile tanker market sees rates go ‘completely bonkers’
Baltic Exchange tanker index at highest level for 18 years as rates respond to ship shortages.
VLCC spot market rates have been boosted by the decision by Opec+ countries to cut production, creating a rush for crude supplies to fill reserves, said MSI. Read more at TradeWinds
Shipyards look to plug the gap as two-horse newbuilding race runs its course
Shipyards banking on a decarbonisation-driven order boom must contend with present day realities, writes MSI Director Stuart Nicoll. Read more in Splash247.com
Optimism over reopening of China requires caution
Speculated relaxation of Beijing’s zero-Covid stance from March next year is likely to be progressive and take place largely within the country’s border.
A successful reopening will boost transportation demand and in the longer-run reduce supply chain disruptions, but reaching that destination is likely to be disruptive, according to MSI. Read more at LloydsList.
Bumpy road lies ahead for bulkers as emissions rules loom
There has been hope in the market that rules such as EEXI will help support bulker demand relative to vessel supply as the trading fleet reduces its speed.
But analysis by MSI suggests that any supportive effects will be offset by the unwinding of port congestion, which will release ships back into the market. Read more at TradeWinds TW+
Newbuild Prices Peak
Newbuild prices have peaked with MSI predicting they will drop by up to 10% in the coming 12 months. Read more at Splash247
Oodles of new LNG carriers but where are the supply trains?
Concerns about insufficient shipbuilding capacity for LNG carriers would be better redirected to liquefaction capacity. More than 200 large LNG carriers have been ordered since April 2021 at increasingly expensive prices, but investment in new LNG supply is not keeping pace. Read MSI’s Senior Gas Analysts opinions of the LNG market in TradeWinds.
About Turn In Used LNG Carriers Fortunes
As the charter market for LNG carriers approaches record levels of $500,000 per day, shipowners are increasingly interested in second-hand vessels that can be chartered immediately. Read MSI’s Senior Gas Analyst Andrew Buckland’s contribution to the article at Energia.gr