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.
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 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.
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.
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.
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.
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- Maritime Health
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World's largest LNG container ship named ''CMA CGM Jacques Saade''25/09/2020
IMarEST issues guide on scrubber challenges25/09/2020
450 coronavirus positive seafarers, quarantined onboard for weeks25/09/2020
First lock gate for the new IJmuiden sea lock at Port of Amsterdam installed25/09/2020