West Africa Market Harbors Positive Potential for MODU Operators

The region could be a key growth market for the oil and gas industry going forward. Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia writes Joshua Belo-Osagie from MSI. Read more at OEdigital.com

Containership charter hire rates still hitting new heights, but are expected to soften

Daily hire benchmarks being smashed in all sizes as ocean carriers, niche shipping lines and forwarders competed for the same vessels. The only dilemma keeping shipowners awake at nights is whether to take the huge daily hire rates on offer for short to medium periods, or bank the still- elevated rates from carriers for much longer periods reports MSI. Read more in Canadiansailings

Lack of free tonnage keeps charter market insulated against freight rate falls

While a softening in consumer demand has weakened global freight rates, the containership charter markets are largely insulated, due to the absence of open tonnage and the duration of time charters.

Although there are signs of the red-hot charter market cooling, particularly in the smaller sizes, and some loss of appetite for multi-year fixtures, MSI’s suggests there is no immediate signs of major corrections. Read more in The Loadstar