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Take a look below at our Shiprbrokers’ Weekly Market Reports for Week 12 of 2018 (listed alphabetically):
19th March – 23rd March 2018 | Week 12
With the almost complete phase out of Tier II newbuilding slots on our door step, along with the plethora of emissions related articles seemingly published every other day, this week we will take a look at the pros and cons of different fuels, their emissions/byproducts, and conclude with possibly one of the best interim alternatives to the present emissions problem. Fuel oil(s) probably account for the largest percentage of marine fuels by weight consumed.
The reason for this is quite simple, it’s incredibly cheap while they are also quite energy dense (around .97 – 1.0 sg or tons per cubic meter) when compared to other alternatives…..
Source: Allied ShipBroking
Week 12 | 23rd March 2018
Iran – Last Chance Saloon?
May 12th is the next deadline for the US to waive oil related sanctions on the Iranian government. However, US president Donald Trump after the latest waiver on sanctions, pledged that this would be Iran’s “last chance” to comply with the nuclear accord. The original deal was approved in 2015 under the Obama administration following the International Atomic Energy Agency’s verification Iran’s compliance. Trump has always been a fierce critic of the nuclear pact which lifted many of the restrictions on Iran to trade internationally. He went on to say that if congress and the European signatories did not “fix the deal’s disastrous flaws”, the US would withdraw. The recent removal of Rex Tillerson as Secretary of State could…..
WEEK 12 (16th March to 23rd March 2018)
The trade war between the two giants China and the United States is brewing with China announcing plans to impose duties on U.S. goods worth USD 3 billion. The latter is being taken as a fight back to the U.S. President new duties on Chinese goods worth USD 60 billion. On March 1, the U.S. President announced a plan to boost domestic manufacturing by imposing tariffs of 25% on imported steel and 10 % on imported aluminum. Even though Europe managed to dodge the tariffs, European shipping community, and the maritime industry, in general, is worried what the latest…..
Source: Advanced Shipping & Trading S.A.
Week Ending: March 23, 2018 (Week 12 Report No: 12.18)
Weekly Market Analysis
This week has witnessed bulk carrier rates soften on the back of imposing US tariffs on steel and aluminum. Average 5 years TC for capesizes on the main routes has closed below $10.000 per day. The start of cyclonic activity on the Australia will interrupt the production, hence applying pressure to rates from Australia. Also of note is, to see the Chinese iron ore demand from Brazil, that will probably see an upward hike due to the cyclonic period in Australia; something that will provide further support to the rates for that route. In addition to the above, the reduced transatlantic activity, has applied further pressure to the capesize market. However as of latest, US has decided to exempt E.U, Argentina, Australia, Brazil apart from the already exempted Canada…..
Source: Golden Destiny
WEEK 12 | Tuesday 27th March 2018
The ship repair sector is again fully exposed to the harsh shipping market developments, trying to speculate changes in the days coming and assess the ‘bad’ days passed. With a relatively busy beginning of the year, shipyards around the world record some of the months to be already fully booked.
For Asia, being the usual busiest region for ship repairs, the schedule is al-most determined till the beginning of May this year. At the same time and despite the sudden change on demand for ship repairs, prices remain at the same very competitive levels. This is unlikely to be the case for the beginning of next year as most expectations indicate even higher demand…..