22 February 2023
On Friday 24 February, one year will have passed since Russia’s invasion of Ukraine. During that year, dry bulk exports from Ukraine have dropped 77.8% compared to the same period a year earlier, causing a decline in global dry bulk volumes. Seaborne exports have been restricted to agricultural goods and even those have been limited.
16 June 2022
President Alberto Fernández recently pledged that Argentina would seize the opportunity to help meet global wheat demand while taking advantage of the high prices following Russia’s invasion of Ukraine. A poor harvest, however, could change the picture.
23 June 2022
In October 2020, the order book for new container ships bottomed out at 8.4% of the combined trading fleet. For ships smaller than 8,000 TEU, the order book bottomed out one month later at 3.7% of the trading fleet, and only accounted for 18.2% of the total container order book. Interest in the smaller segments, however, is bouncing back after months of hibernation.
15 December 2022
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.
07 February 2024
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.
24 March 2022
Due to supply concerns at domestic power plants, Indonesian authorities banned coal exports during January 2022, removing around 30% of global coal volumes from the bulk market as a result. This caused Newcastle coal futures to increase by more than a third and added strain on coal inventories across Asia. The ban was lifted in February.
29 September 2022
On 26 September, soymeal prices in China surged 8% to CNY 5,500 (USD 739) per tonne compared to Monday last week. Following a jump in demand ahead of China’s national day on 1 October some crushers have had to stop production due to a shortage of soybeans. This could signal a recovery in imports after months of lacklustre demand and high soybean prices which have caused a 6.2% y/y drop in soybean imports so far in 2022.
03 November 2022
High energy prices in Europe have shifted aluminium production to China. Due to China’s increasingly depleted bauxite reserves, this shift has resulted in an increase in bauxite shipments, benefitting the capesize segment. Guinea, the world’s largest exporter of bauxite, accounts for around half of traded volumes and has seen a 14.9% increase in bauxite shipments so far in 2022.
10 January 2024
In 2023, shipyards delivered 350 new container ships with a total capacity of 2.2 million TEU, beating the previous record from 2015 when 1.7 million TEU was delivered. The 2023 record is now likely to be beaten already in 2024.
25 August 2022
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.