A rally in capesize rates looks set to be short-lived. Maritime Strategies International describes the current pick up in rates as “frothy”, suggesting that the bubble will burst by the turn of the year.
The warning came as owners saw spot earnings peak at $16,000 per day in November, the highest level since mid-2015. Read more… (SUBSCRIPTION)
MSI’s latest Tanker Freight Forecaster notes that October saw only the VLCC sector show any sizable movement, with spot earnings on TD3 increasing sharply to around $40,000 a day. Spot activity in other segments mostly moved sideways. Read more . . .
Addressing the Hansa Forum in Hamburg, Germany this week, MSI Senior Analyst James Frew warned that the industry will continue to face multiple challenges to a sustained recovery despite positive demand fundamentals. Read more . . .
In the light of the current oversupply, and a demand environment which fluctuates between uncertain and disappointing, the industry is taking what evasive action it can on the supply side. September 2016 saw the second-highest monthly total ever for container ship demolitions, whilst new orders were confined to just three ships totalling 6,000 TEUs. Read more . . .
Maritime Strategies International (MSI) Ltd is a dynamic and highly successful shipping consultancy business. Currently in a period of rapid growth, we are now looking for a Shipping Market Analyst specialising in ‘wet’ commodity trade – oil and gas tanker shipping to join our team. More information