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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 33 of 2019:
Week 33 | 16th August 2019
The Balancing Act
In recent months, the IEA has on many occasions expressed concerns about the health of the global economy. As such, it is unsurprising the latest downgrade by the international Monetary Fund of its outlook for global GDP growth in 2019 and 2020 prompted similar downward revisions to oil demand. This month the IEA has revised its expectations for growth in world oil consumption by 100,000 b/d, down to 1.1 million b/d in 2019 and 1.3 million b/d in 2020. Some trading houses are even more bearish, predicting just 800,000 b/d growth this year.
During the 1 st half of the year global demand increased by only 600,000 b/d. The bulk of incremental growth came out of China, with the country’s oil consumption increasing by 500,000 b/d. In contrast, demand in…..
WEEK 33 (9th August to 16th August 2018)
Following the last month’s sale of M/V “Eternal Grace” 77/2006 Imabari Marugame, Japan at USD 9,6 mill, this week Ludwig Mowinckels Rederi sold her one-year-older sister vessel “Heina” 77/2005 Imabari Marugame, Japan (SS/DD 05/2020) for USD 10,2 mill.
In the Ultramax sector, Nisshin Shipping have agreed to sell their two Ultramax sister vessels M/V “Hanton Trader III” 64/2014 Jiangsu Hantong, China (SS/DD 11/2019) & M/V “Hanton Trader I” 64/2014 Jiangsu Hantong, China (SS/DD passed 05/2019) to Oman Shipping…..
Source: Advanced Shipping & Trading S.A.
WEEK 33 | Tuesday 20th August 2019
The well known to the world by now Iranian tanker Grace I, seized by British royal marines in Gibraltarian waters in July based on intelligence of carrying oil to Syria, has left Gibraltar. The Grace I which now is renamed and freshly repainted as the Adrian Darya 1, set sail under Iranian flag from Gibraltar around 11pm on Sunday and is believed to be heading to off Kalamata port here in Greece arriving around…..