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A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing institutions and private practice lawyers from Asia, Europe and the US began work this week to develop a standard letter of quiet enjoyment (LQE) for use in long term charter and leasing structure financings.
Container rates have been sliding on all the major trading lanes since July 2010, with the exception of a small hiccough round the turn of the year
The 2015 has started off as a pretty challenging year for the container shipping industry. With volatile spot rates coupled with oversupply and ordering of ever bigger ships, shipowners across the board seem to have a lot on their plates.
The reshaping of global crude tanker markets continued in 2023. In 2022, sanctions shifted Russia’s exports from Europe to Asia while OPEC production cuts in 2023 increased the Americas’ share of exports. Brazil’s oil production increased by 12% year-on-year in 2023 while crude tanker exports rose 19%.
Yesterday’s sudden invasion of Ukraine will have major ramifications, not just for the energy markets, but also for the security of Europe. Broad sanctions have been enacted by the major economies of the world. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
As the Chinese Lunar New Year draws to an end, the container lines have already prepared themselves for a strong rebound. In fact they must have been
Demand: We see that the freight rate index levels from China show that rates to Europe have been very stable around 1,800 (index value) since April with a slight negative trend over the last three weeks. Spot prices from Shanghai have been equally firm at around USD 1,900 per TEU. Meanwhile, rates for containers heading for US West Coast continue to soar. Since early April the China Containerized Freight Index for the US West Coast has gone up by 20%.
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