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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 10 of 2019 (listed alphabetically):
04th March – 08th March 2019 | Week 10
In the midst of troubled conditions for the dry bulk market and a continual slack being observed overall even after the annual Chinese New Year drop, the flow of news coming through seems to still be disheartening as to the future prospects of the freight market. Just this past week China announced that it will slash its GDP growth target for the year down to 6-6.5% from a hard target of 6.5% that it had over the past two years. In part this move seems to be more so triggered to offer Beijing flexibility in the policies it will issue, but at the same time reflects on the view that the economy is facing considerable pressure right now pinned between a difficult trade negotiation with the US and strong commitment to deal with both economic as well…..
Source: Allied ShipBroking
Week 10 | 08th March 2018
Refinery maintenance season is well underway. Scheduled turnarounds in North America may have peaked, but globally planned outages will peak this month, whilst works in Asia stay elevated through to May. High turnaround activity has already impacted both the crude and product tanker markets this quarter, however, evolution in global crude trade flows appears to be supporting tonne mile demand during what is typically a weak period. In the products sector, export volumes are now falling in line with seasonal trends but should be set for a strong rebound in the second half of 2019 as post…..
WEEK 10 (01st March to 08th March 2018)
Tufton Oceanic have sold their two Ultramax, “Malmo” 61/2010 & “Melbourne” 61/2011 both built in Oshima with DD 12/2020 & 02/2021 respectively, to far eastern buyers rumored to be Pacific Basin at levels USD 34 mill enbloc.
Polaris Shipping have committed their two Supramax “Solar King” 57/2013 & “Solar Jade” 56/2013 both built in Taizhou Sanfu with DD 12/2020 & 11/2020 respectively at USD 11,8 mill each.
Egon Oldendorff have sold their Handysize “Lucy Oldendorff” 32/2011 Taizhou Maple Leef, China with DD 01/2021 at an undisclosed price. Remind you that…..
Source: Advanced Shipping & Trading S.A.
WEEK 10 | Tuesday 12th March 2019
It has been noticed that the UAE met its compliance with the OPEC and non-OPEC production cuts for February, while it continues to make voluntary output adaptations.
The UAE energy minister Suhail Al Mazrouei stated that “In line with the OPEC & Non-OPEC agreement, UAE compliance for the month of February 2019 will meet, if not exceed, it’s obligations. This will help to bring balance…..