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Drewry: Reefer container trade expands and supports freight rates

Despite moderating perishable seaborne trade growth, continued modal shift will sustain expansion in the containerised reefer trade and freight rate development as well, Drewry’s latest Reefer Shipping Annual Review and Forecast 2018/19 report, noted. Perishable reefer trade is expected to moderate slightly over the next five years to near 3% a year.

MSI: Charter and freight markets aligned during July

After a new pattern at the start of the year, July saw a modest realignment between charter and freight markets. This comes as liner operators react to cost pressures and the industry awaits the affects of the potential trade war between the US and China, the latest Container Shipping Forecaster from MSI noted.

Freight forwarders keeping a ‘close eye’ on tariffs

Freight forwarders will be keeping a close eye on tariff developments, which will be worrying for US importers and logistics providers, as they could be hit hard should President Trump come through with his threats, according to online freight forwarder iContainers.

2018 extremely negative for crude oil tanker market

Crude oil tanker earnings have never been this bad. Earnings for Very Large Crude Carriers in the first half of 2018 were as low at USD 6,001 per day, with a Suezmax tanker earning USD 10,908 per day and an Aframax making USD 9,614 per day. In addition, the total crude oil tanker fleet has not increased at all in 2018.

Container shipping requires change for higher rates

The growing imports of loaded containers into the US East Coast continue to be a focal point for the container shipping industry, according to a recent research analysis by BIMCO. Growing by 10.4% in Q1-2018, the first three months saw 215,000 TEU more entering the USEC than in Q1-2017.

Olefin trade not helping LPG shipowners, says Drewry

The freight market for S/R (Handysize) vessels will remain under pressure throughout 2018, on account of strong fleet growth and weak olefin trade, according to Drewry. The market has been under pressure since 2017, but olefin trade growth has averaged 3.1% annually over 2012-17, down from 4.0% during 2007-12.

Baltic Exchange unveils new Code for freight market

The Baltic Exchange announced introduction of a modernised code of conduct for shipowners, charterers and shipbrokers using the physical shipping and freight derivatives markets, in line with today’s greater focus on fairness & competition, anti-bribery & corruption and benchmarking related issues than before.   

WoodMac: Marine fuel cost to rise from 2020

Global marine fuel costs are likely to rise by 25%, or $24 billion, upon the IMO sulphur cap gets in effect in 2020, Wood Mackenzie consultant said. As explained, the cost will rise as the upcoming regulations will a switch to other fuels, which are low-sulphur but cost more, such as MGO and ultra low sulfur fuel oil.

Container shipping sees slow and steady recovery, says Drewry

The container shipping market in 2018 and 2019 will see a healthy demand growth that will outpace the fleet, resulting in a better supply-demand balance and slightly higher freight rates and profits for carriers, according to the global shipping consultancy Drewry.

UK shipping to face many changes in the future

According to the report “Future of the sea”, the shipping industry is a vital part of the UK economy, as 95% of imports and exports are carried by sea. The UK maritime sector is the largest in Europe, worth an estimated £14.5 billion. Growing population and development will increase the demand for the transport of goods and the drive to mitigate against climate change will put pressure on the shipping industry to lower CO2 emissions.

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