Market Reports News

Port Houston handled 3,430,212 TEUs through October of this year - 7% more than the same period last year. Container volumes in October specifically fell 15% compared to last October, reaching 309,623 TEUs.Despite this slight dip, volumes are expected to be solid through the end of this year. According to early market reports, activity is expected to surge in November and into the new year as users push volumes ahead of January’s labor contract expiration and the early Chinese New Year and factory closures in Asia.In October…

Markets remain precariously poised as Diwali holidays occupy the sub-continent markets and the industry heads into the final months of the 2023, says cash buyer GMS. Although several sales have reportedly registered into India at some impressive levels, sentiments and pricing here remains muted overall.“On the Eastern end and in the lead up to the Bangladeshi elections due in mid-January 2024 - disruptions, protests, and even strikes have embattled the country and as such, it is expected to become even more challenging to get lines of credit open and deliveries completed into Chattogram…

The region could be a key growth market for the oil and gas industry going forward, writes Joshua Belo-Osagie, Maritime Strategies International (MSI).Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia.In addition, the implications of Russia’s invasion of Ukraine have only reinforced some of these pre-existing dynamics…

The U.S. offshore wind segment shows no signs of slowing on its journey to deploy 30 gigawatts (GW) of offshore wind by 2030 and 110 GW by 2050. Based on current project activity we anticipate around 60 GW of offshore wind capacity to be installed by 2035.By 2035, we will see offshore wind turbines operating in the Atlantic and the Pacific and probably the Gulf of Mexico. We will also see an emergence of commercial scale floating wind farms around the end of the decade. Floating…

The oil market has recently been shaken up by geopolitical events, but volatility in the price difference between low and high sulphur fuel cannot be explained by that alone – the uncertainty is the chaos factor.The uncertainty of the upcoming IMO 2020 Sulphur cap regulation (IMO2020) is having a big impact on the bunker market. Whereas, the price for Marine Gas Oil Low Sulphur (MGO LS) has largely remained stable, the price for High Sulphur Fuel oil (HSFO) has been become increasingly more volatile in recent months.

American multinational energy corporation Chevron is working on integrating the hydrocarbon exploration company Anadarko Petroleum, even as it faces a higher rival takeover bid for the oil explorer from Occidental Petroleum Corp, said a report in Bloomberg.However, it is becoming increasingly difficult for Anadarko to justify sticking with Chevron's$30.9 billion takeover as its shares gain following Occidental Petroleum higher offer."The bidding war is breaking out over Anadarko, together using Occidental making an offer it says is about a 20% premium into Chevron’s deal announced earlier this month, some rare movement not often seen from the U.S.

Hartmann Reederei, the German ship-management company, has confirmed that two of its vessels – the 36,000 m3 LEG (liquefied ethylene gas) carriers Gaschem Beluga and Gaschem Orca – powered by the world’s first ME-GIE (-Gas Injection Ethane) two-stroke engines have collectively accumulated 10,000 hours of operations since entering operation at the end of 2017.The carriers were ordered by Hartmann and Ocean Yield of Norway, and constructed at Sinopacific Offshore Engineering (SOE)…

BIMCO’s Market Analysis Team launches a graph section, where BIMCO members can get an overview of a specific sector and how the supply side of that sector develops. “We have structured the data and made it easily available through our website. In this way our members will follow the most recent developments affecting their core interest. This gives them an unbiased and transparent tool for their decision-making process. The goal is to ease the way to rational strategic business decisions,” says BIMCO’s Chief Shipping Analyst Peter Sand.

India is scouting for new liquefied natural gas (LNG) contracts globally as part of a push to secure cheap supplies for its under-utilized gas-fired power plants, reports Bloomberg. Australia, Qatar and Iran could all act as potential suppliers of long-term LNG contracts, power minister Piyush Goyal said in Sydney. The global search for LNG comes as India’s gas-fired plants, which can generate nearly 25 gigawatts of power, run at less than a quarter of their capacity because of a shortage of the fuel at affordable prices. “I think gas needs to be between $5 and $5.50 landed at my power plant. That is what I’m looking for in the medium- to long-term,” Goyal said. In fact, a boom in LNG demand and projects is taking shape in India.

Not enough companies in the shipping industry are following joined-up risk management procedures, according to international accountant and shipping adviser Moore Stephens. The second annual Moore Stephens Shipping Risk Survey revealed a fall, when compared to last year, in the overall level of satisfaction on the part of respondents that sound risk management had contributed to the success of their organisations. The involvement of senior management in managing risk at the highest level also declined against last year. Respondents to the survey rated the extent to which enterprise and business risk management is contributing to the success of their organisation at an average 6.6, on a scale of 1 (low) to 10 (high), compared to 6.9 last time.

India's largest shipping company  Shipping Corporation of India (SCI) has earmarked Rs 900 crore ($134m ) capex for the current financial year even as business climate remains grim for the industry across globe mainly because of availability of low-priced assets in the market, reports Business Standard. SCI Chairman and Managing Director B B Sinha said that the demand situation is pathetic and so it is the right time to buy assets. "We have a capex plan of Rs 900 crore for 2016-17. We have invested some money already and negotiations are on to buy a few more vessels," he said. The state-owned company has recently purchased one offshore vessel and negotiations are on for another tanker.

Shin Yang Shipping Corp Bhd (Syscorp) has shifted the focus of its container shipping business to domestic routes in the face of continued volatility in the international container shipping market, reports the Star. The leading Malaysian shipping company has realigned its focus to domestic container shipping routes with some 95% of its 14 container ships deployed on routes within Malaysia, group financial controller Richard Ling said. “A majority of these container ships ply Sarawak, Sabah and Peninsular Malaysia ports,” he told StarBiz. However, domestic container shipping operation remains “very competitive” with reduced demand, Ling said, and this has squeezed the profit margins of shippers.

Nils S. Andersen chief executive of oil and shipping giant, Moller-Maersk says that his company was prepared to weather the storm to defend its 15 percent share of the global container shipping market, reports CNBC. Of late, the shipping industry has been dogged by overcapacity - following a boom in ship orders that coincided with the economic downturn - and the subsequent decline in freight rates, he said. But, he doesn't want other companies to leapfrog Maersk and to be more aggressive on investments. "So we are going to defend our market-leading position and that means we will expect to grow a little bit ahead of the market in most year," he said.

The economic news from China this morning were somewhat comforting but highlights that the economy activity in the world’s largest economy is certainly slowing down, reports BIMCO. Behind the headline GDP, other economic indicators such as industrial production, electricity consumption, credit growth and real estate investments suggest that things are still settling down at a slower pace going forward, from what have seen in recent years. All parts of the global shipping industry feels the impact as the Chinese economy changes in growth pace, size and composition.

The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. Shipping being a derived demand of global economic growth, will see lower demand in coming years, all other things being equal, than what was previously expected. This goes for all the major shipping segments, dry bulk, tankers and containerships. The Update of the World Economic Outlook from the International Monetary Fund (IMF) has just been released.

The expansion of the Chinese Manufacturing Industry continued in September at unchanged pace as compared to the month before, BIMCO reports. The manufacturing industry accounts for around 1/3 of the Chinese economy and is a relevant indicator to watch out for in the shipping industry. What goes on in the manufacturing sector affects demand for container shipping and dry bulk shipping primarily. China Manufacturing PMI is a leading indicator for economic activity and development in GDP.

New data on three of the key indicators followed by BIMCO’s shipping market analyst sheds light on near-term and future market developments. The news follow up on BIMCO market reports and comments to commercial developments for the three main shipping segments. 1. China’s industrial production (IP) grew by 9% in July over the same period last year, according to the National Bureau of Statistics in China. This is a minor decrease from 9.2% in June, which was a three-month-high.

The past week was a relatively quiet one in the world's deep-sea shipbuilding market, reports Clarkson Hellas S&P in its latest 'Weekly Bulletin'. Santoku Senpaku are understood by Clarkson Hellas to have declared two further options for 81,500 dwt Kamsarmax at Tsuneishi Zhoushan, taking the total series to five firm vessels. Delivery of the latest orders is planned for the later part of 2016 and into early 2017. Knutsen (in a 50/50 joint venture with NYK) have contracted two firm 176,000 cu.m LNG carriers at HHI. Both are understood to be for charter to Gas Natural Fenosa when delivered in 2016 and 2017. Additionally, West Africa LPG have ordered a single 38,000 cu.m LPG carrier at HMD, with delivery in the later part of 2016.

Clarkson Hellas notes that Oldendorff Carriers have declared their options for six 64,000 DWT Ultramax at Qingshan Shipyard and one 94,000 DWT self-unloader at Jiangsu New YZJ. Pricing was not disclosed, but delivery is reported to be from 4Q in 2016 for the Ultramax and due in 2Q 2015 for the self-unloader. From Japan, Namura have signed two 81,700 DWT Kamsarmax with the Taiwanese owner Wisdom Marine for delivery in 2016. In the larger sizes, Sincere Navigation have declared their option for one 250,000 DWT ore carrier, taking the series to two vessels. The vessel will be delivered in 2016.

China has banned shellfish imports from the US west coast, cutting off a US$270-million Pacific Northwest industry from its biggest export market, reports Shipping Gazette (China). The ban was imposed after recent shipments of geoduck clams from northwest waters were found to have high levels of arsenic and a toxin that causes paralytic shellfish poisoning. The restriction applies to clams, oysters and all other two-shelled bivalves from Washington, Oregon, Alaska and northern California. Canada was not mentioned in the ban.

Oceaneering International, Inc. announced it has commissioned the construction of a subsea support vessel from BAE Systems. The vessel is expected for delivery by the end of the first quarter of 2016. This vessel will be U.S. flagged and documented with a coastwise endorsement by the U.S. Coast Guard. It will have an overall length of 353 feet, a Class 2 dynamic positioning system, accommodations for 110 personnel, a helideck, a 250-ton active heave compensated crane, and a working moonpool.

Oceaneering International, Inc. has commissioned the construction of a subsea support vessel from BAE Systems, expected to be delivered by the end of the first quarter of 2016. The new ship will be U.S. flagged and documented with a coastwise endorsement by the U.S. Coast Guard. It will have an overall length of 353 feet, a Class 2 dynamic positioning system, accommodations for 110 personnel, a helideck, a 250-ton active heave compensated crane, and a working moonpool. Two 13,000 foot-rated Oceaneering work class remotely operated vehicles will also be provided.

June saw more enquiries than May, and more were converted into fixtures, but Drewry’s LNG freight index was stubbornly unchanged according to the latest LNG Insight. However, market sentiment remains positive as Cheniere took three vessels on mid-term charter, plus options. One vessel from Dynacom was also added to the first of the two ME-GI ships from Teekay, while Inpext also announced newbuildings for Ichthys. But sentiments were less positive in Africa, where the Nigerian Maritime Administration blocked ship movements from the Bonny Channel as its relationship with Nigeria LNG became even more tense. African supply has already suffered as North African suppliers have been facing feedstock problems.