Baltic Exchange tanker index at highest level for 18 years as rates respond to ship shortages.
VLCC spot market rates have been boosted by the decision by Opec+ countries to cut production, creating a rush for crude supplies to fill reserves, said MSI. Read more at TradeWinds
Shipyards banking on a decarbonisation-driven order boom must contend with present day realities, writes MSI Director Stuart Nicoll. Read more in Splash247.com
Newbuild prices have peaked with MSI predicting they will drop by up to 10% in the coming 12 months. Read more at Splash247
Oil supply constraints and likely price rises over winter suggest VLCC earnings gains could slow down over the next six months, according to Tim Smith, MSI’s London-based director. Read more at S&P Global
Watch Adam Kent’s presentation from the 21st Annual Marine Money Week Asia event in Singapore via YouTube, covering changing trade routes, supply side developments and how earnings and prices will develop.
Seatrade Maritime News Editor Marcus Hand caught up with Adam at the Marine Money Asia conference for a quick fire look at the tanker, container, and dry bulk shipping markets, and where they are headed. Listen to the podcast here Seatrade-maritime.com
Carbon taxes will increase, favouring energy efficient ships and requiring closer co-operation between owners and charterers, says Will Fray, Director, Maritime Strategies International. Read more in Safety4sea.com
China’s Asian neighbours are soaking up surplus crude volumes and creating new routes in the process, writes Tim Smith, Director, Maritime Strategies International. Read more in Splash247.com
Russia’s crude production is likely to face “significant challenges” in 2023 as the EU ban comes into effect, MSI director Tim Smith tells TradeWinds
Nearly six in 10 of all crude tanker voyages will be long or ultra-long-haul by 2026 in a boost for the earning prospects of VLCCs, according to new research.
The reshaping of global trade flows caused by Russia’s invasion of Ukraine is a key factor in the increasing voyage distances, said maritime research and forecasting consultancy Maritime Strategies International (MSI). Read more in Tradewinds
