Container shipping dominates the headlines, but in its shadow, dry bulk shipping is posting its best first half in a decade. Dry bulk, which is notorious for abruptly losing momentum, is still going strong. Read more in Freight Waves
Month: June 2021
The Ongoing Effects of Chaos in Yantian
Following recent disruption due to the emergence of COVID-19 cases, Hutchison Ports, which operates Yantian International Container Terminal (YICT), has announced that the terminal will resume normal operations from midnight on Thursday 24th June. Read more
Healthy outlook for the product tanker market
MSI, in its latest Horizon Monthly (Oil Tankers), noted on the demand side US oil products continue to rise. In May, imports rose 12% month-on-month to 2.6M b/d. The main drivers were diesel and jet fuel imports. Read more in Riviera Maritime Media
Crude oil tanker market in the doldrums
While commodity traders and brokers are talking up crude oil demand, this is not translating into an improvement in the tanker markets. Read more in Riviera here
Mercuria to quickly flip vintage VLCC for strong gain in buoyant secondhand market
Mercuria Energy Trading is about to flip a vintage VLCC for a strong gain after upgrading the vessel in a bullish secondhand market. Read more in TradeWinds
Transpacific holds key to boxship deployment and cascading trends
The container line industry has collectively ordered a staggering volume of newbuilding tonnage since the fourth quarter of 2020. The transpacific trade will play a role in how this capacity is absorbed into the market. Read more in Lloyd’s List
Changing Iron Ore Supply puts emphasis on smaller vessels
Recent months have seen global steel demand accelerate to record highs, as parts of the world emerge from COVID restrictions and lockdowns. Read more in Dry Cargo International