Since the start of March, Capesize values have surged across all age categories, but modern tonnage has seen the largest increase. These include values for 180,000 DWT vessels rising by c. 16.38% from USD 53.05 mil to USD 61.74 mil, the highest levels since August 2022. Tomini’s purchase from Mangrove Partners of two modern Newcastlemax’s …

Russian LNG Exports to Europe Remain High Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. Last month, Belgium imported the largest amount of Russian LNG, accounting for 38% of imports to the EU, while Spain ranked …

Ahead of the sanctions on Russian Clean products that came in to force on 5th February 2023, Russia to global Clean Tanker cargo miles continued to climb YoY. VesselsValue’s Trade data shows that Russia to global Clean Tanker cargo miles increased by c.26% YoY in January to c.38 billion MT NM. Overall, Russian oil exports …

Introduction   After 2021’s high S&P activity levels, 2022 was a more muted year. 2021 saw Bulkers and Containers take the spotlight, while 2022 had been the year of the Tanker. All sectors have appreciated in value, particularly for older tonnage where 20 year old vessels have increased in value by as much as c.142% in …

Introduction 2022 was another strong year for Gas and Container orders, but overall, 2022 orders fell short of the record breaking numbers seen in 2021. The number of newbuilding orders for 2022 reflected global geopolitical concerns, as well as an increasingly prominent green agenda. The shift to cleaner energy sources, energy security concerns, and the …

Introduction Tankers dominated the demolition market this year, accounting for approximately 43% of all cargo vessels scrapped. In comparison, the number of Bulkers scrapped was low, with 48 vessels accounting for 38% of the scrapped fleet, LPG vessels scrapped totalled 11% while the number of Container vessels sold for demolition accounted for only 7%, and …

What’s the story with Capesizes? Capesize earnings have fallen to the lowest levels since Q1 2020. Although we have come to expect a seasonal lull during the first quarter of the year, with the Lunar New Year celebrations now a distant memory, what is causing rates to fall further? Bulker market players take into account …

Two months on from the initial sanctions on Russian crude, we take a look at the impact that these restrictions have had on the Tanker markets. Additionally, we analyse the impact of the new round of sanctions on refined petroleum products that came into force on 5th February 2023. In the run up to the …

MRs Dominate Tanker S&P MR secondhand sales have dominated the Tanker sale and purchase sector so far this year, accounting for 35% of Tanker sales. Unlike the crude markets that saw record highs in the run up to the 5th December sanctions on Russian oil, before the February sanctions on Russian petroleum products came in …