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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
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
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
Severe overcapacity in the market and recently agreed contract rates on the transpacific trade lanes keeps pressure high on the liner companies.
Some time ago, BIMCO expected the first signs of a solid recovery in the oil tanker industry to appear in the product tanker market. However, like other soon-to-arrive recoveries, the waiting time tends to increase as we approach the expected tipping point. This time around, global refinery throughput started the year strongly but entered a still running soft patch in May, high volumes but shorter hauls out of the US Gulf, and the steady inflow of new ships were part of the cocktail that prevented freight rates from taking off big time.
GDP growth and high trade multipliers have benefitted the shipping industry through higher trade volumes, but this could be as good as it gets.
What will the future bring? Overall demand growth is expected to be lower than in 2017, but still high enough to potentially improve the fundamental market balance.
The tanker market is – even more so than before – all about geopolitics.
In yet another turn of extraordinary events, the Baltic Dry Index (BDI) is now hovering around the lowest level in at least 20 years.
Throughout April, container shipping spot freight rates on the back-haul trade from North Europe to China were higher than those on the front-haul trade from China to North Europe.
