China’s July crude oil imports hit 4-year low and drops 9.2% y/y

China is the world’s largest importer of crude oil, accounting for approximately 25% of global crude import volumes. The country’s crude imports are also equal to about 25% of global seaborne crude oil volumes which contributed to about 30% of dirty tanker trade tonne miles in 2021 according to Signal Ocean statistics. From 2010 to 2020, China’s crude imports grew at an average annual rate of 8.5% and have been the key demand driver for both crude oil and crude tanker demand.

Container market grows a modest 0.2% y/y in 2023 as the fleet swells

In 2023, the container market grew 0.2% year-on-year, ending at 173.8 million TEU. Compared to 2019, before the COVID pandemic hit, the market grew 1.5%. Container market growth has lagged behind overall economic development significantly, as the world economy has grown 10% since 2019.

Nikolaus H. Schües elected BIMCO President

BIMCO has elected Nikolaus H. Schües, CEO and owner of Reederei F. Laeisz, as President at the organisation’s g eneral meeting in Hong Kong on Thursday 25 May 2023.

Crude oil tonne miles out of the Gulf of Guinea down 5.9% so far in 2022

Gulf of Guinea crude oil exports have year-to-date contributed 13.7% of VLCC’s tonne miles demand and 16.5% of Suezmaxes. A 13.5% y/y drop in Nigerian year-to-date crude oil output has been the main drain on demand and caused a 5.9% decline in tonne miles. A further decline in Gulf of Guinea exports can be expected from mid-2023 when Nigeria’s Dangote refinery begins operation – requiring a sizeable portion of the country’s crude oil – and possibly add to rate volatility.

Cargo volumes in Red Sea area drop 21% due to attacks on ships

During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number of ships arriving in these ports significantly declined as merchant shipping increasingly avoided transiting through the region due to concerns over attacks on ships by the Houthis.

15+15 webinar - Regulaciones: EEXI, CII y SEEMP, su impacto en la Decarbonización del Transporte Marítimo en Latinoamérica

Para el desarrollo de este Webinar contaremos con la participación del Ingeniero Ervin Vargas Wilson y el Ingeniero Martín Rousseaux, del MTCC-Latin America, quienes abordarán los siguientes temas: Estrategia de reducción de gases de efecto invernadero (GEI) de la OMI Medidas Técnicas: EEXI – Índice de Eficiencia Energética de Buques Existentes EEXI – Cálculo 3. Medidas Operacionales: CII – Indicador de Intensidad de Carbono SEEMP III – Nuevos requisitos para el Plan de Gestión de Eficiencia Energética del Buque 4. Futuras medidas basadas en el mercado y requisitos técnico

Nikolaus H. Schües elected BIMCO President

BIMCO, the world’s largest shipping association, has elected Nikolaus H. Schües, CEO and owner of Reederei F. Laeisz as President at the organisation’s general meeting in Hong Kong on Thursday 25 May 2023.

Myanmar, Republic of the Union of, Sittwe - Entrance

Korea, Republic of, Yeosu - Radio

France, Port Saint-Louis - Radio