After over two years of record-high freight rates and historic disruption, 2023 has began with most industry stakeholders expecting a mixed bag for the various shipping segments. Fitch Ratings has revised its outlook for shipping to deteriorating from neutral, reflecting the challenges facing Container Shipping. The rating agency forecast that Tankers and Dry Bulk will remain stable, with the former the most
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Newbuilding contracting activity is picking up pace with ship owners’ buying interest continuing to focus on gas carriers and more specifically LNG units, according to Allied Shipbroking. In its latest weekly report, the Greek-based broker said that it sees a flow of orders being made on behalf of the major Qatar LNG Project that is in the works. “It seems that the
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The ongoing Russia-Ukraine conflict has led investors to rush to safe-haven assets. They are selling assets with high price volatility such as equities, commodities, and high-yield bonds, preferring safer harbors such as gold acquisitions. The crisis’s effect on the shipping industry has been mixed: tanker, LNG and LPG shipping equities have trended up while other sectors have remained flat or declined, according
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The Baltic Exchange’s dry bulk index rose 5.7% to 1,503 on Tuesday (Feb. 8), its highest since January 19th, amid strong demand across all its vessels segments. The index, which provides a benchmark for the price of moving the major raw materials by sea, is issued daily by the London-based Baltic Exchange and is a composite of three sub-indices that measure different sizes of
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Luka Koper, the operator of Slovenia’s Port of Koper expects to end 2021 with 996 thousand TEUs handled, which represents a new historic record, the port operator said on Thursday (Dec. 30), On Wednesday (Dec. 29), the Container terminal of the Port of Koper beat the previous container throughput record of 988,501 TEUs set in 2018. “This is an important milestone, especially
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Asia loses LNG flows to Europe, as an increasing number of US LNG cargoes are being sent to the Old Continent and the Atlantic basin to take advantage of wide premiums, Platts reported citing traders and market sources. The price spread between Asian and European spot prices nears $15/MMBtu. This week alone, at least five LNG cargoes headed to Asia were diverted
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The top 10 publicly listed container shipping companies are on track for a record $115 billion to $120 billion in profit in 2021. The prediction is based on estimated Q4 earnings derived from company forecasts together with shipping intelligence provider Alphaliner estimates. “The 10 lines have already generated nearly $80 billion in EBIT in the first nine months of the year,” Alphaliner
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