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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 02 of 2020:
06th January – 12th January 2020 | Week 02
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the US and Iran. These events escalated considerably and once again brought to the forefront the possibility for further geopolitical instability and disruptions to the global economic ecosystem (including along with it the shipping markets). The shockwaves of the increased tensions between the two countries pushed oil price above the US$ 70 per barrel mark, while gold, the safe haven choice for investors, rose to a seven-year high…..
Source: Allied ShipBroking
Week 02 | 10th January 2019
The shape of things to come?
2020 is already turning out to be a highly volatile year. Most tanker freight markets have remained extremely firm over the first two weeks of January whilst geopolitical risk has ratcheted up once again. The US killing of General Soleimani, followed by Iran’s retaliatory action could have had major repercussions for the oil and tanker markets. However, aside from price impacts, so far no physical effect on the market has come to fruition and tensions appear to be cooling – for now. What happens next…..
WEEK 02 (03rd January to 10th January 2020)
Mitsubishi Corp have sold their Kamsarmax “Majestic Sky” 82/2014 Tadotsu, Japan (DD 04/2020) to Japanese buyers Sanko Steamship at a price of USD mid 21 mill.
Several Supramax vessels reported sold this week with Mitsuhama Kisen’s “Easter N” 59/2013 Kawasaki, Japan (SS/DD 05/2021) being sold to undisclosed buyers at region USD 15 mill whilst in November we had the sale of “Santa Helena” 58/2012 Shin Kurushima Onishi, Japan at USD 14,8 mill. Chandris has…..
Source: Advanced Shipping & Trading S.A.
WEEK 02 | Tuesday 14th January 2020
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the industry, but so far it seems that those who feared of major problems for global shipping have not been verified and it looks like we have avoided the destructive consequences. Lack of availability of the VLSFO, massive breakdowns of main engines from poor blends, detentions from non-compliance where just some of the warnings and the possible problems that…..