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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 04 of 2019 (listed alphabetically):
21st January – 25th January 2019 | Week 04
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for demand of several major trading commodities. The annual data of this Asian giant were revealed just a few days ago, sparking concerns for the economic state of the country. China’s GDP expanded in the previous year by 6.6%, a rate that may sound impressive compared to other OECD countries, but it is the lowest pace the country has seen since 1990. In addition, the latest quarterly growth figure stands at 6.4%, the weakest rate since the global financial crisis. With China accounting for one-third of global growth, it is no surprise that the International Monetary Fund revised its global…..
Source: Allied ShipBroking
Week 04 | 25th January 2018
Refinery Ramp Up
According to a recent IEA report, 2019 is expected to see the largest wave of refinery capacity additions since the 1970’s. The Agency expects that 2.6 million b/d of new capacity will initiate operations this year. In terms of pure volumes, this is of course a bullish sign for the product tanker market, but what really matters is how global product flows shape up.
Asia accounts for the bulk of the new additions. The new 400,000 b/d Hengli and Zhejiang Petrochemical plants should support higher export…..
WEEK 04 (18th January to 25th January 2018)
Augustea Group have sold their Post Panamax “A Navigation” 93/2010 Jiangsu New Yangzijiang with DD 02/2019, to Chinese buyers at USD 14,9 mill for conversion. Note that back in November we had the sale of “Scandinavian Express” 93/2010 Cosco Dalian at levels USD 15,5 mill.
Interocean Shipping have committed their Supramax “Sea Confidence” 52/2005 Oshima with DD 09/2019, to Chinese buyers at levels USD 9 mill. Note that the two years older “Tigris” 52/2003 Tsuneishi Fukuyama was sold back in December for USD 8,7 mill.
Baltic Indices (Friday Closing Values) AEC Holdings have sold their Handysize “Aec Belief” 33/2004 Shin Kurushima Onishi with DD 09/2019 to undisclosed buyers at levels USD 9,2 mill. Note that…..
Source: Advanced Shipping & Trading S.A.
WEEK 04 | Tuesday 29th January 2019
With 2018 over, we can definitely say that last year met the positive expectations everyone had after four years of continuous challenges for the off-shore market, which witnessed a number of structural changes throughout this rather extended period.
The fact that an increasing number of offshore projects materialized during
2018, allowed the re-activation of more than a few laid up offshore units. Additionally, the commitment of OPEC and non-OPEC producers to support prices through production caps has also supported expectations for steadier oil prices going forward as well, giving more confidence to the…..