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2017 was a year of change. Much of it for the better, but a cautious approach is still needed for 2018 to maintain the progress already achieved.
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shipping of grains.
Oil tankers experienced a tough start to 2017 as freight rates for all crude oil and oil product tankers continued their decline following the brief lift at year-end. For one, VLCCs may not yet have bottomed out. By 7 April 2017, average earnings stood at USD 18,853 per day, down from USD 63,284 per day on 16 December 2016.
BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking at the Dry Cargo Conference taking place on 1-2 June 2017 at the RAI Exhibition and Convention Centre in Amsterdam, The Netherlands. Discounts for BIMCO members available.
The International Maritime Organization (IMO) is looking for suggestions for nominees for the annual IMO Award for Exceptional Bravery at Sea 2017.
Venezuela’s Challenges: The decline in Venezuelan crude trade to the US is one of the biggest consequences of the economic and political problems faced by the country. Between January and August 2017, crude shipments to the US averaged 0.69 million b/d, down by 175,000 b/d compared to the same period in 2015. The weekly tanker market report by Gibson Shipbrokers.
Dry bulk newbuilding activity has been the highlight of 2017 and a rather unexpected development The weekly newbuilding report by Intermodal Research & Valuations feature, include newbuilding prices for dry bulk-, tanker- and gas shipping segments. Additionally, recent newbuilding orders are listed by units, type, size, yard, expected delivery date and price.
If freight rates remain healthy, which most likely will be the case throughout 2017, second-hand prices will increase and most likely inspire further ordering. The weekly newbuilding report by Intermodal Research & Valuations feature, include newbuilding prices for dry bulk-, tanker- and gas shipping segments. Additionally, recent newbuilding orders are listed by units, type, size, yard, expected delivery date and price.
RATE RISE! It would not be surprising to see several more sales take place in a similar vein before 2017 ends (probably even higher). The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Questions and Answers related to ISO 8217:2017
