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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 47 of 2019:
18th November – 22nd November 2019 | Week 47
The tanker market is set to close off on one of its best years since 2015, with the events that started to transpire since mid-September having radically shifted the overall market prospects and ultimately led to a considerable jump in the average market conditions noted in the year so far. Granted that we are still in early days of this market shift and that for some segments the improvement is still in the process of balancing out some of the power earnings that were noted for much of 2018 and early 2019. Yet despite all this it does look that a foundation is being set for a much better…..
Source: Allied ShipBroking
Week 47 | 22nd November 2019
Fleet of the Future
New tanker ordering activity has been restricted in recent years, most notably back in 2016, when just 76 tankers over 25,000 dwt were ordered. Investment levels increased in the following two years, with around 200 units ordered in 2017 and 155 in 2018 but overall volumes still remained well below those seen earlier this decade. This year has seen a similar trend, with appetite for new tonnage staying on the low side. During the 1st ten months of 2019, just over 170 confirmed tanker orders have been placed. Of all segments, MRs (25,000 to 55,000 dwt) have seen the largest interest, with 77 tankers ordered. However, even this seemingly elevated number represents just 3.7% of the existing MR fleet on the…..
WEEK 47 (15th November to 22nd November 2018)
Nissen Kaiun have sold their Kamsarmax “KM Tokyo” 83/2010 Sanoyas, Japan (SS/DD 03/2020) at USD 16 mill. Previous similar sale was last month, when the one-year-older M/V “Mangarella” 83/2009 Tsuneishi, Japan was sold at levels USD 15,5 mill.
Chinese owners have acquired the Supramax “Lord” 52/2004 Tsuneishi Cebu, Philippines from an online auction that took place on 11th of November at Wuhan Maritime Court. The vessel, which was previously owned by…..
Source: Advanced Shipping & Trading S.A.
WEEK 47 | Tuesday 26th November 2019
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third quarter and will probably prove right those market specialists that predicted that tanker rates would be soaring coming into 2020 with the “IMO effect” ready to kick in.
The million dollar question is if this firm market recovery (both in asset pric-es as well as freight rates) is the beginning of a new cycle. What definitely helped boost earnings was the recent sanctions imposed by the USA to the Chinese Cosco tanker fleet that abruptly removed a significant amount of…..