14 February 2012
... paving the way for a growth scenario, as the dark clouds just won’t go away before that happens. As the world continues to deal with severe economic challenges – a very fragile world economy and high volatility in the financial markets – the IMF slashed its forecast for global GDP growth across the board.
22 May 2012
Crude oil tanker tonnage in the size range from Aframax to VLCC is now recycled at the age of just 21, a level not seen since 1995. The poor freight market now increasingly impacts the segment of more mature tankers, effectively reducing the room for more demolition to balance the market.
22 June 2011
A fundamentally weak oil demand that is negatively affected by the high oil prices is hampering demand for both crude and product tanker tonnage. The weak demand is set to stay around according to IEA, which projects limited growth in 2011 of 1.5% against the 3.3% rebound growth in 2010.
13 December 2011
By looking at the JPMorgan Global Manufacturing & Service PMI, it is clear that global growth is under pressure, as PMI output reaches the lowest level since mid-2009. The PMI data shows that global private sector output expanded at the weakest rate since the recovery began in August 2009. At 51.4, down from 52.0 in September, the output index indicated only a modest increase in economic activity.
13 December 2011
Overall, it’s noticeable that record numbers of fixtures and demand for tonnage only produce a short-lived spike at rather low altitudes – making little impact on stretched owners’ financial accounts. Ship owners without a solid cash balance and a strong, or at least sustainable, cash flow will find it increasing difficult to continue in this business at the present level and volatility.
09 October 2011
2011 started out with a lot of optimism fuelled by a surprisingly better-than-expected growth in the second half of 2010. As the year has progressed it has turned into a paradise lost rather than the sustainable recovery we were all hoping for. Since the January issue of World Economic Outlook was released, IMF has reduced the growth expectations for the Global GDP and now expects only 4.0% growth in 2011. If this forecast holds true, it will be the slowest global growth since 2003 – if you discard the crisis-years of 2008 and 2009. Slashing not only its 2011-estimate, the 2012 outlook has been further lowered, cutting a 0.5%-point off the previously expected 4.5%. Growth is not only slowing down, it is also more unevenly distributed. The growth in advanced economies is now set for 1.6% as compared to an estimate of 2.4% 20 months ago. In contrast, Emerging and Developing economies are up 0.1 to reach 6.4 as compared to 20 months ago.
17 March 2011
We all feel shocked and entirely devastated by the terrible disasters that have hit Japan and the escalation in their effects on the Japanese society
18 March 2020
The coronavirus pandemic is impacting global shipping demand for 2020 negatively.
23 March 2020
Amid massive market uncertainty, BIMCO has analysed the potential implications of a pandemic for the commercial shipping markets and Chief Shipping Analyst, Peter Sand, will deliver the insights in a string of webinars in the coming weeks.
06 February 2020
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. This especially holds true for the commercial shipping markets, which remain heavily reliant upon China, both on the import and export side.