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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 01 of 2019 (listed alphabetically):
31st December – 04th January 2019 | Week 01
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neither optimistic nor pessimistic according to most analysts. Economic shocks and unexpected events cannot be fully predicted, but let’s recap some key points being seen. With regards to economic growth expectations, figures remain positive for 2019, but according to most, growth will drift to lower levels than it did in 2018. UBS forecasts a figure close to 3.6% for the global economic growth this year, 0.2% lower than the last year, due to tighter monetary policies and political challenges among the world’s major economies. The same trend is projected for the US from Goldman Sachs, reducing the US economy growth forecast for the first half of 2019 to 2% from 2.4% estimated…..
Source: Allied ShipBroking
Week 01 | 04th January 2018
Chinese Products Push
Late in 2018, China issued a raft of additional refined product export quotas to cope with a domestic oversupply of fuel. These additional volumes were partly responsible for the strength of the Asian product tanker market towards the end of 2018 and the persistent weakness in the Asian oil products markets. For many the question is therefore: what will Chinese refined product export volumes look like in 2019, and can they help sustain the regional product tanker market?
So far, the Government has issued 18.36 million tonnes of quotas in the first round, vs. 16.24 million tonnes for the same period of 2018 (+13%), pointing to a stronger start to the year, at least in terms of volumes. However, in the immediate term, January exports may be lower than in December, given…..
WEEK 01 (28th December to 04th January 2018)
Quayside Maritime Partners have sold their two Supramax “North Quay” 57/2010 Ningbo Beilun Lantian, China & “Salford Quay” – 57/2011 Taizhou Sanfu, China with DD 04/2020 & 05/2021 respectively to undisclosed buyers for USD 19 mill enbloc.
Jinhui Shipping & Trans have committed their Supramax “Jin Zhou” – 50/2001 Japan with DD 05/2021 to undisclosed buyers for a price of USD 7,38 mill. Note, one months ago “Condor” 50/2000 Japan was sold for…..
Source: Advanced Shipping & Trading S.A.
WEEK 01 | Tuesday 08th January 2019
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resembles that of a ship sailing, for the past decade, in shallow and tidy waters trying to avoid groundings. It was caught on a grounding two years ago, but is now freed by the rising tide. The Captain is of course relieved to be able to set sail. But this relief must be tempered by the urgency to sail toward deeper seas before the receding waters beach the…..