So far MSI’s expectations of a substantial and abrupt decline in tanker markets have played out. In its latest HORIZON Monthly report MSI forecasts Q3 average Aframax one Yr T/C earnings to be $19.9,00/day, illustrating how close the market has moved toward those dramatic predictions. Read more in the Maritime Professional here
Month: August 2020
Tanker market downward trend to continue: MSI
The downward trend of the tanker market is expected to continue for the remainder of 2020 according to analysts Maritime Strategies International (MSI). Read more in Seatrade
Borealis aims at younger fleet with latest boxship buy
UK-based boxship and bulker owner adds younger vessel to sisterships in its portfolio. Read more in TradeWinds
Record low resale price for feeder boxship pair reflects tough times
Zhoushan Changhong International Shipyard has been trying to hive off to 1,756-teu newbuildings by dropping the price to less than $18m each. That sets a benchmark low for modern eco-feederships and reflects the difficulties the yard had in finding buyers. Read more in TradeWinds
Another positive: Boxship charter market staging swift V-shaped recovery
The rebound in the containership charter market continues at breakneck speed, as optimism grows for the long-term prospects for other major shipping markets. Read more in TradeWinds