The recent improvement in VLCC rates offers genuine hope for a prolonged recovery for owners, analysts believe.
But other voices in the sector warn that all is not as rosy as it appears, and massive scrapping is needed to boost earnings long term. Read more in TradeWinds
A budding Chinese owner has been frustrated in his attempt to buy his first ship after sellers allegedly failed to deliver the supramax as agreed earlier this year. Read more in TradeWinds
While that is the case, MSI expects weaker rates to emerge before the end of the year due to growing fears of a potential slowdown in China that may impact trade. Read more in Lloyd’s List
Maritime Strategies International (MSI) cautioned, “Signs are mounting that suggest underlying consumption of raw materials in China is under threat.” Read more in American Shipper
More than 550 dry bulk vessels changed hands in first half of 2021, Maritime Strategies International data shows, which is a big jump from the 600 vessels involved in sales and purchase transactions in both 2020 and 2019. Read more in Lloyds List
Champagne corks are popping but adjust for the impact of China’s port delays and the outlook shows greater fragility writes Will Fray from Maritime Strategies International. Read more in Splash247