Tag: freight rates

Although tonnage supply growth in the crude tanker market is expected to be low next year after surging in 2017, this will not be enough to push tonnage utilisation rates higher as demand growth is expected to be sluggish, Drewry notes. A slowdown in global oil demand growth and a likely decline in China’s stocking activity will keep growth in the crude oil trade moderate next year.

Drewry said that the World Container Index, which is a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, has showed an increase and provided a two-year spot freight rate trend for the index.

With global demand for seaborne trade still uncertain, freight rates continued to be determined by the way supply capacity management was being handled, UN Conference on Trade and Development informed on its latest report.

In a report published by McKinsey, the consultant company tries to depict how the future of shipping will look like in 50 years and what shipping companies can do to adapt to the new reality.

Recovering demand for multipurpose shipping combined with improved market conditions for competing sectors will result in rising market share for the multipurpose shipping fleet and a recovery in freight rates in 2018, according to global shipping consultancy Drewry.

Contract freight rates, paid by Beneficial Cargo Owners to move their products by container, have increased for a 4th consecutive quarter, according to Drewry consultancy. Drewry reiterates its previous warning to BCOs that they need to re-think their contract negotiation strategy.

International transport and logistics executives using container shipping are facing the biggest shift in their ocean provider base for 20 years and must adapt their procurement and contract strategy, according to Drewry Supply Chain Advisors.

The UK Department for Transport has published its Annual UK Port Freight statistics, which shows that overall total freight tonnages handled by UK ports declined by 3% in 2016. Despite this, there has been growth in unitised traffics and trade with European countries.

The labour dispute at the Port of Gothenburg has led to an unprecedented fall in container volumes. During the first six months of the year, the number of containers shipped fell by 22 per cent, the biggest decrease ever in the history of the port, particularly noticeable in June, with volumes down by 60 per cent.