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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).
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.
The ports of Los Angeles and Long Beach continue their record-breaking start to the year, exceeding pre-pandemic records again and again.
If EURO2020 was to be decided by shipping-related factors, who would come out on top?
Many agricultural trades have been exceptionally strong in 2021 and several grain types have experienced record high exports. US corn exports are no exception.
“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”.
The surge in US container imports continued in April when West Coast loaded imports amounted to 1.10m TEU.
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.
Record high US seaborne exports of coarse grains in March of 9.2 million tonnes took total Q1 exports to 21.3 million tonnes.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.