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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 51 of 2019:
16th December – 20th December 2019 | Week 51
2019 has been a year full of surprises and quick shifts in market directions, leaving must utterly perplexed as to what the outcome has been now that we are but a few days away from the year close and with tomorrow being the last day of reporting for the year from the Baltic Exchange. But beyond all that has transpired over the past 12 months, the overall after taste looks to be a sweet one albeit only…..
Source: Allied ShipBroking
Week 51 | 20th December 2019
2019 in a glance
This year started on a positive note for tankers. Healthy earnings were seen in early 2019 supported by strong demand at the time, weather factors and flat fleet growth, following robust demolition activity back in 2018. However, as the year progressed, trading conditions started to deteriorate. Middle East OPEC crude production declined by over 2 million b/d between November 18 and June 19 due to the renewed OPEC+ efforts to balance the market and Iranian sanctions. Product tanker trade was negatively impacted by the extended seasonal cutbacks in refining runs during the 1st half of the year. Meanwhile, fleet growth accelerated, with plenty of tanker deliveries seen. Inevitably, spot earnings…..
WEEK 51 (13th December to 20th December 2018)
Greek buyers Alios Bulkers have acquired two Japanese Kamsarmaxes with Eco M/E, Orix’s “Aquila Ocean” 82/2018 Sanoyas, Japan (DD 03/2021) and Sugahara Kisen’s “Atlantic Samurai” 82/2019 Tsuneishi, Japan (DD 04/2022) at an undisclosed price.
Seacon have sold their Panamax “Qi Xiang 22” 76/2012 Shanghai, China (DD 04/2020) to Chinese buyers at a price of USD 14,5 mill. Remind you that…..
Source: Advanced Shipping & Trading S.A.
WEEK 51 | Tuesday 24th December 2019
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed in 2019.
In the tanker sector, 2019 is undoubtedly closing positively when compared to the previous two years. VLCC time charter earnings during October reached around $100,000/day, a level that has been sustained up until to-day. The one-year period was even quoted at $55,000/day at one point…..