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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 23 of 2019 (listed alphabetically):
03rd June – 07th June 2019 | Week 23
Having officially entered the summer season, we have started to see some hopes being raised of better market conditions to come for dry bulkers. This view is primarily being driven by the market patterns noted during the previous 3 years, with a typical upward drive usually starting to take shape in and around early June. Taking the performance and trends of the market for the first 5 months of the year as a guide and stacking that against the typical seasonal patterns noted over the…..
Source: Allied ShipBroking
Week 23 | 07th June 2019
China officially increased tariffs up to 25% on $60 billion of US products from 1 st June, following the US decision to increase tariffs on $200bn/year of imports from China to 25% from 10 th May. Chinese imports of nearly every US energy commodity now face a tax of up to 25%. Crude is exempt, but China’s imports of US crude have fallen dramatically anyway since the 2 nd half of 2018. Despite the trade conflict, US crude exports continue to grow. The loss of trade to China is being offset by higher shipments to other Asia Pacific countries and Europe. Similarly, Chinese crude imports continue to increase, with US barrels…..
WEEK 23 (31st May to 07th May 2018)
U-Ming Marine Transport have sold their Panamax “Cemtex Wisdom” 78/2004 CSBC, Taiwan with SS/DD 06/2019 to Chinese buyers for USD 7,1 mill. Please note that her sister vessel “An Ho” 78/2004 was sold last month for a price of USD 6,5 mill.
Ocean Line Holdings have sold their BWTS fitted Panamax “Ocean Favour”
72/1998 Sasebo, Japan with DD 12/2021 to Middle Eastern buyers at…..
Source: Advanced Shipping & Trading S.A.
WEEK 23 | Tuesday 11th June 2019
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, ranging from MRs to VLs, changing hands, an increase of around 21% compared to the same period last year.
After a strong start in the first quarter, the freight market went through a significant softening particularly in the case of the crude carriers while the smaller/clean sizes performed significantly better. Overall sentiment remains bullish for the rest of the year, both in terms of freights as well as…..