Weekly Market Reports – Week 44 (2019)

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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 44 of 2019:

Allied ShipBroking Logo

Allied ShipBroking

28th October – 01st November 2019 | Week 44

Market Analysis

With the dry bulk market having shown a gradual downward correction over the past couple of weeks, a gradual pessimism seems to be creeping back into the market. Yet, when you look at the numbers a bit more closely it seems as though the market has been plagued by a bearish outlook for some time now, while few seem to have been convinced by the impressive market rally during late summer and the impressive 10-year high peak in freight rates noted during early September. In fact, given that we are still seeing average freight rate figures for Capesize bulkers still holding at levels well above the US$ 24,500 per day mark (a level which is well above US$ 5,000 per day…..

Source: Allied ShipBroking

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Gibson Logo

Gibsons

Week 44 | 01st November 2019

The Wind of Change

A few months ago it was reported that the construction of the 650,000 b/d Dangote refinery in Nigeria will not be completed until the end of 2020, a year later from the original plans due to problems importing steel and other equipment needed for the refinery. The plant, located at the Lekki Free Zone (in close proximity to Lagos), will be the largest single train refinery in the world. It will be complimented by the petrochemical and fertilizer projects, served by the refinery by-products as raw materials. According to Dangote’s chief operating officer, the refinery tank farms are scheduled for completion by the end of this year. These tanks will be connected to five single point mooring buoys (SPMs), which will…..

Source: Gibsons

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Advanced Shipping & Trading

Advanced Shipping & Trading S.A.

WEEK 44 (25th October to 01st November 2018)

Shunzan Kaiun have sold their Newcastlemax “Azul Integra” 203/2004 Universal, Japan (SS/DD 12/2019) to Chinese buyers Xin Yuan Ocean for a price of USD 15,8 mill. Remind you that in September, her sister vessel “Azul Challenge” 203/2004 Universal, Japan was sold for USD 16,4 mill.

After the acquisition of the Panamax “Genco Thunder” 76/2007 Jiangnan, China at USD 10,4 mill last month from GENCO, same Greek owners are now buying…..

Source: Advanced Shipping & Trading S.A.

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Intermodal

WEEK 44 | Tuesday 05th November 2019

With less than two months before the end of the year, the shipping and
refining industries have already taken measures and invested to accommo-
date the IMO 2020 regulations. As the implementation date for the 0.5%
sulphur cap approaches, the U.S. EIA expects that the swing in petroleum
product pricing will be most acute in 2020 and the effects on prices will be
moderate after that. However, the regulations will inevitably affect…..

Source: Intermodal

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