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Take a look below at our Shiprbrokers’ Weekly Market Reports for Week 21 of 2018 (listed alphabetically):
21st May – 25th May 2018 | Week 20
Its looking as though June will turn out to be a “hot” month after all given the most recent trade news that have emerged in the Dry Bulk space. The US and China made a significant step back this weekend in reference to their most recent trade disputes. Washington announced that it plans to step back on its decision to impose US$ 150bn of import tariffs, while China on its side, also promised to “significantly increase” its energy and agricultural imports from the US. All this comes in the midst of the BDI having plunged to just above a “hair” margin above the 1,000-point…..
Source: Allied ShipBroking
Week 21 | 25th May 2018
Will History Repeat Itself?
Mexico’s energy sector could be radically overhauled if the current frontrunner in the July elections wins office. Candidate Andres Obrador has indicated that major reforms will take place
should his party take office. Information published by Reuters stated that Obrador is opposed to sending crude oil abroad. The report goes on to say that he would try to put an end to all crude oil exports within three years of coming into office, focusing instead on refined products. Obrador’s energy adviser said that the country needs to try to consume their own fuels and not depend…..
WEEK 21(18th May to 25th May 2018)
EU GDPR is coming into force on May 25th………assume now we have your approval to send you our report!!
US-listed shipowner Star Bulk Carriers have acquired Oslo-listed Songa Bulk whose fleet comprises of 15 modern bulkers (3 x Capesize bulkers, 10 x Kamsarmax bulkers, 1 x Ultramax bulker and 1 x Supramax bulker). Star Bulk will issue 13.7 mill new shares and pay USD 145 mill in cash for the fleet. China Merchants Bank Leasing will finance the cash portion of the transaction. In addition, Star Bulk have agreed to acquire 3 x Newcastlemax bulkers…..
Source: Advanced Shipping & Trading S.A.
Week Ending: May 25, 2018 (Week 21 Report No: 21.18)
Weekly Market Analysis
This week was marked by a healthier S&P activity with 12 units having changed hands, marking a 300% increase compared to the previous week. It is worth mentioning the increased numbers of Japanese built vessels, since 8 out of the 12 vessels sold were constructed in Japanese yards. Also the average age of vessels sold were the 9.6 years compared to the 11.3 years in the previous week. Also this week we have seen an increased number of demolitions with 6 vessels sold for scrap, compared to 1 vessel sold for demolition in the previous week. This is the highest number of demolitions since the beginning of the year, in the bulk carriers…..
Source: Golden Destiny