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Take a look below at our Shiprbrokers’ Weekly Market Reports for Week 43 (listed alphabetically):
19th October – 23rd October 2015 | Week 43
Weekly Shipping Market Update
The tanker market has been the great success story this year for the shipping market after having moved from a heavily underperforming market over to level of earnings that would have never been imagined a few years back. Yet through all this euphoric sentiment there are still a whole lot of underlying troubles in the background and while we just recently managed to break through the US$ 100,000 per day barrier on some VLCC routes, recent trade fundamentals point to severe cracks in the underlying assumptions of high volume trade.
The drop in oil prices that has been the main underlying reason for the recent boost in trade seems to have already over shot its market…..
Source: Allied ShipBroking
23rd October 2015
IRANIAN COME BACK
The world is gradually getting used to the idea that Iranian sanctions will be lifted. Over the past few months further progress has been made in terms of legislation. Firstly, the US Congress failed to block the Iran nuclear deal reached in summer 2015. Secondly, the same deal has been approved by the Iranian parliament. The latest news is that on the 18th of October US authorities approved conditional sanctions waivers for Iran (known as Adoption Day). These waivers will only take effect after Iran complies with its commitments and this is verified by the IAEA (Implementation Day). How quickly will this happen? According to several senior US officials, the Implementation Day…..
WEEK 43 (17th October to 23rd October 2015)
Source: Shiptrade Services S.A.