Container Rates Soar to 7-Year Highs

Introduction The Container market is recovering well from the global pandemic and we have witnessed rates within the sector soaring to 7-year highs. A strong rebound in demand has created a shortage of supply. One of the largest increases in rates has been seen in the 8,500 TEU sector where 1-year time charter rates have …

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Using Data to Save Money on Your Next Yachting Holiday

The New Rules Recently, both Malta and France have important updates relating to VAT due on both long and short term Superyacht charters (or leases). In France, the previous fixed rate reduction of 50%, bringing VAT down from 20% – 10%, is no longer accepted. Instead, the holiday maker (charterer) qualifies for a tax reduction …

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Remaining constant in a changing world

The shipping industry is in an interesting position. COVID-19 is wreaking havoc across the world, causing regional and national lockdowns, transforming the way in which ordinary people go about their daily lives, and forcing industries to rethink their usual practices. Despite this ongoing situation, the shipping industry still has to function in order to ensure …

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The Road to Recovery

It has been a tough few years for the Vehicle Carrier market. We have seen charter rates for 6,500 CEU vessels fall by more than 40% to $10,000/day in 2020, demand for global light vehicles flatlined in 2018 then collapsed in 2020, and as a result values have come under significant pressure. The industry entered …

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The Future for Offshore Renewables

Global renewable energy could help a post COVID-19 economic recovery according to the International Renewable Energy Agency (IRENA). According to IRENA offshore wind costs have fallen by 29% between 2010 and 2019 from £124 per Mwh to £88 per Mwh (megawatt hour). This lowering of costs can be attributed to increases in turbine technology including …

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Half Year Round Up – Trade

So far, 2020 has been an unsettling and volatile year for the shipping industry as a whole, particularly related to the effects of the COVID-19 pandemic. Very early on, 2020 was looking to be a positive year for many routes and sectors, but this was short lived as COVID-19 quickly disrupted the global supply chain. …

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Half year review – demolition

Overview Heading into March 2020 the recycling market had made significant ground and was looking strong. However, the COVID-19 pandemic hit hard and fast, crashing local steel plate prices and forcing tight restrictions, which in turn, for the first time led to yard lockdowns. The first 8 weeks of 2020 saw 67 vessels scrapped, this …

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Half year review – vessel values and S&P activity

Bulkers Value Analysis The COVID-19 pandemic has had a dramatic effect on the Bulker sector causing a deterioration in rates, values and number of second-hand transactions.  Capesize Bulkers have been the worst affected, primarily as China is the major epicentre of Capesize trade. In the early part of the year, imports into China were near historical lows …

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