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Despite floods in November, the Australian wheat production estimate for the 2022/23 marketing year (July 2022 to June 2023) has been increased by the United States Department of Agriculture (USDA). Australian wheat exports could rise 9.8% this marketing year driven by strong harvests and strained global supplies.
Newbuilding contracting activity was steady during the past days. In the tanker realm, Euronav returned to DH Shipbuilding for the construction of two Suezmax vessels.
Weak economic activity, a 10.5% increase in domestic coal mining, and a recovery in coal imports from Mongolia via rail alleviated coal shipments to China in 2022.
In the newbuilding segment, orders surfaced across almost all sectors, with crude orders once again abstaining from the newbuilding list after the recent MOL and Euronav contracts.
The shipbuilding activity bounced back last week. A plethora of newbuilding orders were placed with emphasis on container vessels, followed by LNG carriers.
The shipbuilding market activity appeared quiet last week, which is more or less expected, due to the continuous lockdowns and operations disruption in China.
The global XSI ® increased by 3.9% in Feb-2022 to 247.76 points. This month-onmonth rise reverses the decline reported in January and ensures the benchmark is 87.9% higher than the equivalent period of 2021. Since the end of last year, the index has appreciated by 0.2%. The monthly containership report discusses recent containership freight rate movements and market developments. Brought to you by Xeneta.
Reported activity on the newbuilding front remains firm for yet another week, with containers once again being the most popular sector, while after almost two months of inactivity, a fresh tanker contract emerged last week.
The newbuilding market activity saw a decreased number of materialized deals last week, as only three orders came to light. More specifically, Swedes owner Erik Thun has ordered another LNG/LBG 17,999 chemical tanker at Jinling shipyard followed its partner Furetank similar order in late January.
Last week, the newbuilding contracting activity saw a huge volume of Container units across all type of sizes. The exceptionally positive conditions in the boxship sector, continue to strengthen owners’ interest after their historical profits during 2021.
