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.
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.
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.
CMA CGM released its annual numbers for 2017, which indicate a strong increase of 21.1% compared to 2016. Amongst the top operating sectors for 2017, CMA-CGM said that Maritime, inland and logistics development, along with Innovation and digitalization are highlights.
The new strategic partnership delivers an ocean freight procurement platform that is expected to enable medium and small scale importers and exporters to collaboratively achieve “big shipper” rates and terms direct with ocean carriers and benefit from shared intelligence for better commercial decisions.
A decrease in fleet growth can trigger the recovery from the second half of 2018 for VLGC owners, despite the fact that freight rates will not reach the levels seen during the bull run of 2014-15. 2017 was very challenging for VLGC shipping, because the large vessel supply pressured freight market.
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