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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 19 of 2019 (listed alphabetically):
06th May – 10th May 2019 | Week 19
Taking into consideration the much-touted market improvement that is expected during the latter half of the year as part of the previously discussed IMO 2020 implications, questions are brewing over the current status of the crude oil market. Since the start of the year, oil prices have followed a rising path, with global developments curbing oil supply, as part of the Iran sanctions, the situation in Venezuela and OPEC agreement on output cuts. However, price trends and general sentiment have changed somewhat during this past week, due to increasing concerns regarding world…..
Source: Allied ShipBroking
Week 19 | 10th May 2019
Orderbook in Focus
One of the forward looking indicators of how healthy (or unhealthy) the tanker supply/demand balance could be in a couple of years is the tanker orderbook. Limited new tanker ordering activity over the past three years has undoubtedly been a welcome development for owners. The only exception to this general trend was robust investment in new VLCCs back in 2017 and to an extent in 2018. This year also started strong for VLCC contracting, with 12 fresh orders placed in January; however, the interest in new tonnage has completely dried up since then. MRs (40,000 to 55,000 dwt) have also seen stronger investment this year, with 40 orders placed since January. This compares to just 59 MR orders for the whole of 2018. Ordering…..
WEEK 19 (03rd May to 10th May 2018)
NYK Line have sold their Post Panamax “Shin Sapporo Maru” 91/2002 Oshima, Japan with DD 07/2020 to Chinese buyers at levels USD high 8 mill. Remind you that “Tatsuki Maru” 92/2002 Imabari Marugame, Japan was sold back in March to clients of Aswan Shipping for USD 8 mill.
KN Maritime have committed their Ultramax “Loch Ness” 61/2016 Shin Kurushima, Japan with DD 05/2021 to Greek buyers Neptune Lines at a price of USD 23 mill. Remind you that in March, “African Loon” 61/2016 Tadotsu, Japan…..
Source: Advanced Shipping & Trading S.A.
WEEK 19 | Tuesday 14th May 2019
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Iranian oil to continue their imports. China is the world’s No1 oil importer and a major buyer of Iranian Oil. The May 1 deadline coincided with the US trade representatives traveling to Beijing and while in April Trump was tweeting that whilst there are still differences, the two sides are closer to a trade deal; the move of eliminating the waivers could be linked to the trade talks and most probably even served as an irritant be-
tween Beijing and Washington. Making China’s energy imports challenging…..