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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 40 of 2019:
30th September – 04th October 2019 | Week 40
We have entered the 4th quarter of the year and the dry bulk market has already experienced a sharp downward correction. Yet, it is hardly a surprise, given that the peak numbers noted one month back wouldn’t be exactly considered as levels that could be sustained in the long-run. Furthermore, this came rather attuned with the slowdown in global trade, with recent figures pointing to the lowest growth rate figures noted in the last decade. The ongoing US-China trade tensions have come once…..
Source: Allied ShipBroking
Week 40 | 04th October 2019
With most crude tanker markets surging to multi-year highs, many have questioned whether the clean sector should expect to experience the same fortunes. The last few days have seen product tankers firm both East and West, in some cases considerably. Now, many are questioning whether this recent firming the start of a more sustainable trend or merely a short-term blip?
Great faith has been placed in IMO2020, particularly in terms of its impact on distillates trading. However, can owners still realistically expect this seismic event to transform prospects in the clean…..
WEEK 40 (27th September to 04th October 2018)
Fukunaga Kaiun have sold M/V “Dolce” 76/2007 Imabari, Japan (DD 07/2020) to Greek buyers SwissMarine for USD 11,5 mill. Another Greek buyer, this time Monte Nero Maritime, paid for GENCO’s “Genco Thunder” 76/2007 Jiagnan, China (DD 09/2020) USD 10,4 mill while in the end of August, the one-year-older M/V “Underdog” 74/2006 Hudong-Zhonghua, China was sold for USD 8,5 mill.Finally M/V “Chance” 76/2004 Tsuneishi Fukuyama, Japan (SS/DD freshly passed) owned by Transmed Shipping has gone to undisclosed buyers at a price…..
Source: Advanced Shipping & Trading S.A.
WEEK 40 | Tuesday 08th October 2019
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market during the past year, would continue throughout the year.
This is supported from the oil price, which during the past month has been trading at levels steadily above $55/barrel and having reached higher levels during the year. This is in contrast to past years, when oil prices were ranging between $43-$46/barrel, and even lower during the period 2015-2016, when oil price was less than $30/barrel with most notable the historical low…..