Please select a reason for contacting BIMCO from the list above to find the best contact number
SHIPPING NUMBER OF THE WEEK
Since the European Union sanctioned Russian oil exports in 2022, crude oil and dirty and clean petroleum products (CPP) have found new buyers. India and China have taken most of the crude oil and dirty products while Türkiye and Brazil have emerged as the main buyers of CPP. Year-to-date, Brazil’s import of Russian CPP has increased by 135% year-on-year.
April 2022
Container ship orderbook hits 6.5m TEU for the first time since 2008
The container ship orderbook hit a post-financial crisis low just below 2m TEU in October 2020. In the eighteen months since then, liner operators have seen record profits and a large percentage of these have been poured into newbuilding contracts.
March 2022
VLSFO premium of USD 200/tonne increases scrubber advantage
The spread between very-low sulphur fuel oil (VLSFO) and high-sulphur fuel oil (HSFO) has widened following Russia's invasion of Ukraine. The HSFO price, however, could rise if Russian volumes coming into the market start declining due to sanctions.
Indonesian coal exports jump 11.5% to second-highest level on record
Due to supply concerns at domestic power plants, Indonesian authorities banned coal exports during January 2022, removing around 30% of global coal volumes from the bulk market as a result. This caused Newcastle coal futures to increase by more than a third and added strain on coal inventories across Asia. The ban was lifted in February.
US appetite for Far East imports to face test as February retail sales fall 0.5%
During the pandemic retail sales and personal savings have been increasing in tandem and supported US consumer demand for imports from the Far East. Now, retail sales appear to be receding and the question is whether the past two years’ savings will be enough to support continued high import volumes as consumer sentiment is dropping and the war in Ukraine continues.
October 2021
Singapore’s September bunker sales fall to 15-month low
Bunker sales in the world’s largest bunkering hub fell to 3.94 million tonnes in September, the lowest level since June 2020 and a 6.7% drop from September 2020.
Us soya bean inspections nearly double week-on-week to 1.6m tonnes
After a slow start to the US soya bean export season, partly due to disruption from Hurricane Ida, US soya bean inspections ahead of exports have jumped to 1.6m tonnes in the week ending 7 October. This represents a 90.9% jump from the week before and is the highest level seen since the start of February 2021 which marked the end of the main export season of the 2020/2021 marketing year.
September crude oil tanker demolishing hits 39-months high at 1.9m DWT
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answer is “yes”.
September 2021
Iron ore spot freight rates spike 163% to lift Capesize earnings
As the average length of the journey increases, partly due to port congestions in China, soaking up capacity and pushing up spot rates, shipowners will likely be enjoying high freight rates until the end of the year.
Transatlantic container shipping spot rates jump 210% on last year
For almost three months now, the spot freight rate for containerised goods shipped by sea from North Europe to the US East Coast has been 210% higher than last year (1 July – 23 Sept).
Chinese coal imports from Australia drop 98.6% as restrictions bite
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian coal have started to hurt, according to Oceanbolt.
