Drewry presented a positive outlook on the dry bulk market, as it expects charter rates to improve, driven by moderate increases in vessel demand and low growth in vessel supply. This is caused by restrained new ordering and a thin orderbook, according to Drewry’s latest edition of the Dry Bulk Forecaster.
Respondents to the annual Shipping Risk Survey by Moore Stephens rated the extent to which enterprise and business risk management is contributing to the success of their organisation at an average 5.9 out of a possible score of 10.0, compared to 6.8 in the 2017 survey.
Chinese Cosco Shipping Ports (CSP) has set its eyes to make the Port of Piraeus, Greece’s major port, the largest port in the Mediterranean in one and a half years, at the same time that freight traffic is expected to increase by 35% within this year only.
Iran will react with equal countermeasures if Washington tries to block its oil exports, Reuters reported in July. In response, US has recently said it is full prepared to keep regional commerce flowing through the Arabian Gulf and committed to ensuring the safety of the region.
In a recent analysis, Mr. Peter Sand, BIMCO’s Chief Shipping Analyst, explainsthe latest developments of demand and supply in tanker shipping, concluding why a record poor tanker market with a growing fleet is prolonging the crisis.
G20 international merchandise trade, seasonally adjusted and expressed in US dollars, decreased in the second quarter of 2018 following eight consecutive quarters of growth, according to recently-published international trade statistics by OECD. G20 exports declined by 0.6% and imports by 0.9%.
Amid the industry’s hot debate on how to achieve compliance with the upcoming environmental regulations, and on how these rules are expected to affect companies financially, the world’s largest container ship company, Maersk, said that the 2020 sulphur cap will add about USD2 billion to its annual fuel bill.
For a third consecutive year, Fitch Ratings reaffirmed the Panama Canal Authority’s ‘A’ investment grade rating with a stable outlook for its “stable performance in terms of cargo volumes, the solid competitive position and the well-diversified cargo mix of the Canal.
Comprising the Maritime Silk Road and the Silk Road Economic Belt, the One Belt One Road concept, introduced in 2013 by the Chinese government, focuses on connectivity and cooperation between Eurasian countries on all fronts, infrastructure, trade, and joint investments.
Maersk called Brazilian exporters to stop overbooking as this practice leads to delays when shipping goods transported in containers. In addition, Maersk said that overbooking damages exporters as well, as costs are raised, while many exporters do not find space in ships.
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