Saudi Arabia, Ras Tanura Terminal - Ballast
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Peru, Port of San Nicolas - Entrance
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Supply/demand balance
Houthis continue to attack ships in the Red Sea and the Gulf of Aden, and there is no end to the conflict in sight. We therefore base our forecasts on the assumption that rerouting of ships away from the Red Sea and the Suez Canal towards the Cape of Good Hope may impact the market throughout 2024,... Please follow the link to continue reading.
Demand shocks drive ship recycling to lowest level in 20 years
BIMCO's Shipping Analyst looks at the shipping number of the week. This week: Demand shocks drive ship recycling to lowest level in 20 years
Demand
We forecast that container volumes will grow 3-4% in both 2024 and 2025 and thus slightly faster than the global economy. We expect head-haul and regional trades to grow marginally faster than the total. As volumes during the first half of 2023 were relatively weaker than normal, we expect the 2024... Please follow the link to continue reading.
Macro environment
According to the International Monetary Fund’s (IMF) estimates, the global economy should grow 3.1% in 2024 and 3.2% in 2025, slightly higher than the 3.0% estimated for 2023. China is forecast to continue to suffer from its ongoing real estate sector crisis, seeing growth slow from 5.2% in 20... Please follow the link to continue reading.
Egypt, Suez Canal - Pilotage
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Denmark, Aabenraa - Harbour
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Macro environment
Houthi attacks on ships in the Red Sea continue and many shipowners therefore continue to avoid the area. As no resolution to the conflict is in sight, we assume that the attacks may impact shipping throughout 2024 and that ships may be able to return to normal routings in 2025. According to the In... Please follow the link to continue reading.
Denmark, Gulfhavn - Harbour
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