bluVerve strives to bring you the most relevant information at your fingertips, be it your own company data or general market reports.
Take a look below at our Shipbrokers’ Weekly Market Reports for Week 35 of 2019:
26th August – 30th August 2019 | Week 35
Clouds have started to gather on the global economy as of late, with the chances of a recession taking shape having been heightened considerably. The fresh escalation noted in the trade war saga between the US and China, the unresolved Brexit situation and the poor growth rate figures from key economies such as EU, China and India have already deteriorated the already wounded sentiment in global markets. Without a doubt, the US and China trade dispute has been the main influencer for increased fears of a looming recession. During the G7 summit, the US president, Donald Trump, verbally attacked…..
Source: Allied ShipBroking
Week 35 | 30th August 2019
Deal or No Deal
If Boris Johnson gets his way, the ever-impending event that is Brexit will soon be upon us. Little has been said about the impact on the wider international tanker market, with the UK being a relatively small piece of global tanker trade; however, Brexit will have an impact, most notably on regional trade between the UK and EU. For 2019 to date, 57% of UK clean petroleum product (CPP) exports have gone to the EU, currently subject to zero tariffs. However, if the UK crashes out of the EU without a deal, British CPP exports to the EU would be subject to non-EU country tariffs of 4.7%. For imports, the UK may consider…..
WEEK 35 (23rd August to 30th August 2018)
A busy week for Panamax sector with Grace Ocean Investement selling their BWTS fitted “Clipper Victory” 77/2015 Imabari Marugame, Japan (DD 06/2020) to Greek buyers for USD 20,75 mill. Moreover, Vita Management sold their Panamax “Vitagrace” 76/2001 Kananashi Toyohashi, Japan (DD 08/2019) to Chinese buyers at a price of USD 6,5 mil, a sale comparable with that of the one-year-younger M/V “Banzai” 74/2002 Namura & Sasebo, Japan which took place two months ago at levels USD 7 mill. Finally, Zenobia Management’s M/V “Underdog” 74/2006 Hudong-Zhonghua, China (DD 03/2020) was sold for USD 8,5 mill whilst last month the two-year-younger M/V “Ogna” 76/2008 Jiangsu Rongsheng, China had…..
Source: Advanced Shipping & Trading S.A.
WEEK 35 | Tuesday 03rd September 2019
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market in the second half of this year has buoyed optimism amongst the people in the industry. Yet if you are to ask most shipowners if they are optimistic you will get a “yes…but…” reply.
On the dry bulk ship supply side (>20,000dwt), the world fleet has increased by 241 vessels year-on-year corresponding to a growth of about 2,4%, while…..