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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 34 of 2018 (listed alphabetically):
13th August – 24th August 2018 | Week 33-34
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarter rally takes shape, one can’t but wonder what is install for the market this Autumn and if we could well see a firm rally take shape this time around. The truth of the matter is that much of the optimism that was being shared amongst market participants at the start of the year has seemed to have dissipated during the past couple of months as events started to unfold. These events, though most not directly connected to shipping markets, have had a significant impact on almost all aspects of the shipping market. Not all have been negative, though…..
Source: Allied ShipBroking
Week 34 | 24th August 2018
Chinese DragOn Demand
For nearly two decades spectacular growth in Chinese crude imports has been the key driver behind rising crude tanker demand. Even in recent years shipments continued to increase at a very impressive rate, despite slowing economic growth, up on average by 0.85 million b/d per annum in 2016/17. Robust trade was supported by strong demand from the independent refiners, stockpiling into commercial and strategic inventories as well as the decline in domestic crude production. However, the dynamics could be changing. According to China’s General Administration of Customs, total crude imports increased year-on-year by 0.5 million b/d between January and July 2018, down notably from growth rates seen over the previous…..
WEEK 34 (17th August to 24th August 2018)
Slow activity with Singapore holiday reducing trading and making a bit fragile market but essentially numbers agreed were still steady. Australian miners were largely sidelined and very little trading from Brazil. The Mothership (formerly the Royal Chorale 177,544 2006) went to Louis Dreyfus for 22 to 28 months trading from September in China at $19,900 daily. Period trading included a rarely reported period ship in the Atlantic with Oldendorff booking the Cosco relet…..
Source: Advanced Shipping & Trading S.A.
WEEK 34 | Tuesday 28th August 2018
The ship repair sector is again forming a new pattern to respond to the evolving challenges in the market. The relatively busy first half of the year is followed by a busier second half, with the months from July till October almost fully booked for many shipyards around the globe. Yards, especially on the competitive regions of Asia and Black Sea, speculated this increasing demand from the beginning of the year and most of them enforced an in-crease on the prices, which in some areas reaches the very extreme…..