Shipping industry calls for release of Galaxy Leader crew still held captive

Today - Monday 19 February 2024 – marks the three-month anniversary since the Houthis seized the Galaxy Leader and its 25 seafarers in the Red Sea. The vessel, a roll-on/roll-off vehicle carrier, was seized on the 19 November. The maritime industry has joined together from around the world to express their concern for the seafarers who have been held hostage, and call on the Houthis to release the crew of the Galaxy Leader.

Tanker market report dated 21 December 2018

2018 has been a year of extremes. For most part, trading conditions have been very challenging amid a persistent oversupply of tonnage, with spot earnings often well below operating expenses. TCE returns for VLCCs trading on the benchmark TD3C voyage from the Middle East to China averaged just over $11,000/day during the 1 st nine months of the year. However, since early autumn, notable increases in loadings out of the Middle East and strong demand from Asian refiners for Middle East and Atlantic Basin crudes have contributed to a very impressive rebound in earnings, with TD3C averaging in Q4 at over $50,000/day. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Dry cargo market report dated 30 September 2022

Capesize: The Capesize market failed to push through to higher values this week as lower activity in the Pacific hampered efforts. The Capesize 5TC closed the week at $16,214.

Dry cargo market report dated 8 October 2021

Capesize: The Capesize market continued its bull rally this week as we move into the tail-end quarter of the year. The Capesize 5TC managed a high of $86,953 on Thursday before closing out the week on a softer note at $83,865. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.

Brunei, Seria - Weather and Sea conditions

Dry cargo market report dated 1 October 2021

Capesize: The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regathering, and then pushing on to $75,190 at weeks end. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.

Dry cargo market report

Demand

Japan’s dry bulk imports fall 4% amid weak steel demand

Having narrowly avoided a recession in the fourth quarter of 2022, the Japanese economy appears to be recovering. However, Japan’s demand for steel remains weak and as a result, the country’s bulk imports are estimated to have fallen by 4% y/y in the first quarter of 2023.

China’s manufacturing sector is struggling to keep up pace

Data released today on the condition of the Chinese manufacturing sector points towards weaker business conditions. HSBC/Markit China Manufacturing Purchasing Managers’ Index (PMI) is coming down from a seven-months high in February ...