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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 31 of 2019 (listed alphabetically):
29th July – 02nd August 2019 | Week 31
Demolition activity in the dry bulk sector had seen considerable increases since 2016, allowing us to even see a peak of as many as 60 units being recycled in a single month. The trimmed freight levels back then had created a strong push for owners to offload less competitive tonnage in order to curb their losses. This trend has started to slow down since 2017 having seen almost half the activity than what was being noted back in 2016 and 2015 with only 227 units being sold to the breakers. This was by no measure however the bottoming out of this trend, with demolition activity figures dropping to a fraction of even that number in 2018 with only 71 units be broker up. This year so far, we are witnessing an increase once more in the number of vessels…..
Source: Allied ShipBroking
Week 31 | 02nd August 2019
Historically, there has been a strong correlation between tanker spot and time charter rates, with period rates tracking (with some time lag) developments in the spot market. However, this year TC and spot values have moved in opposite directions. Spot earnings on benchmark trades gradually cooled over the course of this year, with returns in the clean tanker market reaching in July their lowest level this year. Crude has performed somewhat better, but TCE returns have been weak nonetheless. In contrast, time charter rates have firmed, reaching in July their highest level since 2016/17. The biggest uplift has been…..
WEEK 31 (26th July to 02th August 2018)
Several Kamsarmax sales have been reported sold with BTWS fitted M/V “Nord Destiny” 84/2008 Sanoyas Hishino, Japan (DD 12/2020) going to the hands of Greek buyers at levels USD 14,25 mill. Remind you that the two-years-older “Red Lotus” 83/2006 Tsuneishi Tadotsu, Japan (also BWTS fitted and DD passed on 05/2019) was sold in July at USD 12,3 mill.
Following the sale of M/V “GH Frankel” 63/2012 Yangzhou Dayang, China in June at USD 16,9 mill, Messrs Great Harvest Maeta have also sold her sister vessel…..
Source: Advanced Shipping & Trading S.A.
WEEK 31 | Tuesday 05th August 2019
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of Norway. A month later a second attack took place, involving 2 tankers passing near the straits of Hormuz. The above incidents were followed by the detention of an Iranian VLCC in Gibraltar by the British Royal Marines, the “Grace 1”, which was carrying crude oil to be discharged in Banyas, Syria. It should be noted that the discharging of crude oil cargo in Syria is a breach of EU Sanctions. Following this, British ships were threatened when passing the Straits of Hormuz /Gulf of Oman, thus resulting in many tankers which were supposed to load inside Arabian/Persian Gulf, not proceeding…..