DNV sees bullish growth in the bulker market in the coming years

Growing global demand for commodities and an extremely low newbuild activity between 2019 and 2022 have set the stage for bullish growth in the bulker market in the coming years, according to Oslo-based DNV. The world’s leading classification society and a recognized advisor for the maritime industry says bulker owners are taking advantage of these favourable market conditions and starting to invest. According

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Crude oil tanker market to remain healthy past 2030

The International Energy Agency (IEA) in its latest report Oil 2024, suggests world demand for oil will peak in 2029 at 105.6m barrels per day and start its decline thereafter, something that has got analysts discussing what this means for crude oil tanker markets. According to UK shipbroker Gibson “firstly, for the crude tanker sector, although peak demand is in sight, the

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Fitch highlights deteriorating 2024 outlook for shipping sector

US-based Fitch Ratings released last month its Global Shipping Outlook 2024. The leading provider of Credit Ratings, Research and Analysis for the global financial markets, maintained its deteriorating outlook for the shipping sector, mainly reflecting the continuing challenges for the container shipping, which could lead to year-on-year (yoy) worsening of the results. Fitch forecasts that tankers and dry bulk will remain stable

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Baltic overall index rises to two-week high on higher capesize rates

The Baltic Exchange’s main sea freight index which measures the cost of shipping goods worldwide, hit a two-week peak on Thursday (Sept. 8), surging about 5.6% helped by a jump in capesize vessel rates. The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, jumped 155 points, or nearly 15%, to 1,189. “Volumes remain consistent for

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China, Greece explore deeper cooperation on shipping and trade

Chinese and Greek representatives of public and private sectors explored potential to boost bilateral cooperation on shipping and trade during an investment event on Tuesday (April 25). Organized by Shanghai’s Pilot Free Trade Zone Lingang Special Area at the premises of Piraeus Port Authority S.A., (PPA) a member of China’s COSCO Shipping group, the event was attended by Chen Jinshan, a member

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What 2023 holds for the global shipping industry

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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