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The Maritime Safety Committee (MSC 103) meeting of the International Maritime Organization (IMO) was held remotely from 5 to 14 May. A very comprehensive list of issues were discussed at the meeting, one of which was new requirements for water level detectors on non-bulk cargo ships. The new requirement was up for adoption.
This week, despite the rapidly escalating Covid-19 crisis across much of Asia, steel plate prices continue their upward trajectory once again for the second running week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Friday 7th saw the unexpected closure of the 8,851km Colonial Pipeline linking US Gulf Coast (USG) PADD3 refineries with PADD 1 facilities along the Atlantic coast following a cyber-attack. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
Despite the overall negative performance in the tanker freight market, SnP activity for the respective sector remains healthy. The weekly sale and purchase report by Intermodal Research & Valuations features secondhand sales market prices for crude oil- and oil product tankers, dry bulk carriers, container ships and gas tankers. Secondhand asset values refer to Japan Blt vessels.
Following the strong volumes of newbuilding contracts that we have been witnessing since the beginning of 2021, shipbuilding activity was significantly softer last week, with non-conventional units monopolizing the owner’s interest. The weekly newbuilding report by Intermodal Research & Valuations feature, include newbuilding prices for dry bulk-, tanker- and gas shipping segments. Additionally, recent newbuilding orders are listed by units, type, size, yard, expected delivery date and price.
In the first four months of 2021, the amount of oil product tanker capacity that has been sent for demolition has already reached the total amount of demolished capacity in each of 2019 and 2020 due to unfavourable freight rates. If that pace continues for the rest of the year, an 11-year record is set to be broken.
Despite the escalating Covid-19 crisis unfolding across the sub-continent, markets still remain firm as we head into Eid holidays next week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
There is no doubt that the green revolution is underway and arguably Europe is its epicenter. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
BIMCO Shipping-KPI will during the next couple of weeks reinstate a core feature of the system, whereby users can export their performance data in a customised, consolidated report.
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