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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 06 of 2019 (listed alphabetically):
04th February – 08th February 2019 | Week 06
2019 will be a significant year for the fleet development in the tanker segments, as sentiment in the market has improved and expectations are now more bullish than a year ago, despite the recent freight market correction. All this has translated into 141 new contracts being reported in 2018 and a total orderbook of 518 for both crude and product carriers. This increased appetite amongst owners in both the crude and products space has mainly focused up till now in the VLCC and the…..
Source: Allied ShipBroking
Week 06 | 08th February 2018
Banning the Trade
On the 23 rd of January the US president recognised Venezuela’s national assembly speaker Juan Guaido as interim president of the country and called Maduro’s government “illegitimate”. Soon afterwards, Washington announced tough sanctions against PDVSA, designed to halt US imports of Venezuelan crude. The government stopped short of placing an outright ban; instead, refiners will be able to continue to receive Venezuela’s crude until the 28 th of April as long as payments are placed in to a blocked account. Sanctions have already caused chaos and confusion. Reuters reported earlier this week that over a dozen of tankers involved in oil trade with Venezuela were anchored in…..
WEEK 06 (01st February to 08th February 2018)
Eurotankers Inc have committed their Suezmax “Eurohope” 159/1999 Daewoo with SS/DD 04/2019 to Undisclosed buyers at levels USD 12,8 mill. Note that the two-year-younger “Four Smile” 160/2001 Samsung was sold in January to Turkish buyers Karadeniz for USD 11,5 mill.
Zodiac Maritime have sold their two LR1 “Kings Road” 75/2012 Stx & “Abbey Road” 75/2013 Stx with DD 10/2020 & 02/2021 respectively to Pakistan National Shipping Corporation for USD 60,7 mill enbloc. Please note that the same buyers bought “Red Eagle” 75/2011 Sungdong back in October at a…..
Source: Advanced Shipping & Trading S.A.
WEEK 06 | Tuesday 12th February 2019
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentiment changes in the blink of an eye. Regulations, tariffs, sanctions, you name it, all play their part. For some, volatility provides opportunities and possibilities to speculate and invest. For others volatility only prolongs the uncertainty and adds to the fatigue. Either way this is the current reality and there are no signs that things will change and become more…..