SHIPPING NUMBER OF THE WEEK

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August 2021

Only 3 VLCCs sold for demolition in 2021 as secondhand prices tempt

During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition.

US manufacturing of durable goods hits USD 270.5 bln record high

US manufacturing of durable goods, which has been lagging the wider recovery of the US economy, hit an all-time high in June when USD 270.5 billion worth of goods was produced.

July 2021

Secondhand container ship deals jump over 100% in H1 2021

During the first half of 2021, a total of 277 container ships have changed hands, a 103.7% jump from 136 ships bought and sold in the same period of 2020 (source: Vessels Value). 

June 2021

China processes all-time high 60.5m tonnes of crude oil in May

Chinese refinery crude oil throughput has reached its highest level ever, with total processed volumes up 12.0% in the first five months of this year compared to 2020, and up 10.9% from the same period in 2019.

San Pedro Bay ports struggle to keep up as record-breaking 1.9m TEU handled in May

The ports of Los Angeles and Long Beach continue their record-breaking start to the year, exceeding pre-pandemic records again and again.

…and the winner of EURO 2020 is…

If EURO2020 was to be decided by shipping-related factors, who would come out on top?

Nine months US corn exports already exceeding last season’s total by 5.9m tonnes

Many agricultural trades have been exceptionally strong in 2021 and several grain types have experienced record high exports. US corn exports are no exception.

May 2021

All eyes on US gasoline today; will demand exceed 9.2m bpd?

“Fill her up son, unleaded; I need a full tank of gas where I'm headed,” former Police-front man, Sting, sang back in 1999 on his solo album: “Brand New Day”. This country-inspired song could be the anthem for what is coming around next week, as Monday 31 May is Memorial Day in the US; the day that kicks off “the US driving season”.

US West Coast imports exceed 1m TEU in nine out of ten past months

The surge in US container imports continued in April when West Coast loaded imports amounted to 1.10m TEU.

Clean product tanker rates on US bound trade almost doubles after pipeline attack

The closure of the Colonial pipeline which runs from the US Gulf to the US East Coast, has caused a spike in oil product tanker rates on trades to and from the region.