Shipping rates from China to the US have “finally slumped” with spot rates halved on some routes due to power cuts and Covid-19 outbreaks in China, according to an industry report. Read more in The Institute of Export Trade News
Author: MSI
Container Spot Rates Stay High in China’s Golden Week, But Some Bargains to Be Had
China’s Golden Week holiday this month saw container spot rates from Asia to the US ease back, while short-term rates to Europe ticked up a few percentage points. Read more in G Captain
SHIPPING: Global tankers Q4 freight, earnings to rise as demand strengthens
Global tanker rates are likely to recover in the fourth quarter of 2021… Read more in S&P Global
How supply chain chaos and sky-high costs could last until 2023
Supply chain woes and port congestion are now getting attention at the central-bank level, given their effects on inflation. Federal Reserve Chairman Jerome Powell recently lamented, “It is frustrating to see the bottlenecks and supply chain problems not getting better. In fact … [they are] apparently getting worse.” Read more in Freight Waves
Abnormal supply and changing demand: is this an ‘end to the trend’ for tankers?
For both tanker supply and demand, deviation from the trends of the last two decades is likely to be pronounced, writes MSI director – Tanker Markets and Energy Tim Smith. Read more in Riviera
‘Real optimism’ as VLCC rates to China hit highest level since January
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
Chinese player seeks redress in Greece over failed supramax sale
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
Capesize rates shrug off China concerns to set new high
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
Shipping stocks hammered as China fears intensify
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
Secondhand bulker prices almost double in 2021
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