Tag: shipping market

The Baltic Exchange, the world’s independent source of maritime market data, has issued its report for the last week, 4 – 8 March 2024, to provide information of the bulk market performance.

The Poseidon Principles for Financial Institutions has announced an expansion with Swedbank being its newest signatory. 

The Q1 2024 Shipping Market Overview & Outlook from BIMCO has been released which features an analysis of the tanker shipping market regarding supply and demand.

Windward AI explores the impact of route deviations due to the ongoing Red Sea attacks and deceptive shipping practices on the maritime landscape. 

The latest IEA Oil Market Report (OMR) notes that Global oil demand growth is losing momentum, with annual gains easing from 2.8 mb/d in 3Q23 to 1.8 mb/d in 4Q23. 

Two weeks after Xeneta reported that ocean freight shipping spot rates from the Far East into Europe may have peaked during the Red Sea crisis, it is now observed that trades into the US have followed a similar pattern.

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, examines the state of the container market in 2023 which has lagged overall economic development significantly in terms of growth. In addition, the fleet capacity continues to swell, challenging liner operators. 

The Q1 2024 Dry Bulk Shipping Market Overview & Outlook from BIMCO has been released which features an analysis of the dry bulk shipping market regarding supply and demand.

As U.S. Energy Information Administration (EIA) forecasts average annual crude oil prices in 2024 and 2025 will remain near their 2023 average because they expect that global supply and demand for petroleum liquids will be relatively balanced over the next two years.

According to Energy Information Administration (EIA), the price of Brent crude oil averaged $83 per barrel (b) in 2023, down from $101/b in 2022, a difference of $19/b after rounding.