Tag: shipping finance

Baltic Exchange’s main sea freight index posted its biggest monthly percentage gain in five months, supported by higher rates across vessel segments.

BIMCO has released the Shipping Overview & Outlook for the first quarter of 2023 (Q1) including key highlights of container, tanker and bulk markets.

The American Club has reported encouraging year-on-year growth in premium and tonnage over the recent renewal period. Increases in both metrics were experienced across all of the Club’s insurance lines, strengthening its position for 2023 and beyond.

Greenwashing -the practice of companies making false or exaggerated claims about their environmental credentials in order to build a sustainable brand image- is nothing new. But what does this mean as sustainable finance and ESG investing are gaining more and more ground in shipping and beyond?

The Baltic Exchange’s main sea freight index, climbed to the highest in more than a week on Tuesday as shipping rates for all vessel segments increased.

On Friday 24 February, one year has passed since Russia’s invasion of Ukraine. During that year, dry bulk exports from Ukraine have dropped 77.8% compared to the same period a year earlier, causing a decline in global dry bulk volumes, according to BIMCO.

Mr. Peter Sand, Chief Analyst, Xeneta, says that this year brings several challenges to the carriers but opportunities to the shippers and explains how the ongoing global supply chain crisis will evolve in the coming years, according to Xeneta data.

Despite LNG carriers accounting for a mere 1.45% of the total cargo fleet, the overall value of LNG sale and purchase transactions accounted for nearly 12% of all cargo transactions that took place in 2022, up from 3% in 2021, according to VesselsValue data as of February 2023.

Malaysian shipowner MISC , which recorded a 40% year-on-year (y-o-y) earnings jump for the fourth quarter of its 2022 financial year (4Q22), expects a promising outlook in its operating segments in financial year 2023 (FY23) and an upbeat on LNG and tanker shipping earning, despite some softening.

In 2022, Chinese shipyards reached a market share of 47% and for the first time exceeded the combined market share of Japanese and South Korean shipyards, says Niels Rasmussen, Chief Shipping Analyst at BIMCO.