Sowing the Seeds of a Food Crisis

Introduction The economic environment for global trade has profoundly shifted in the past year. Recovering demand from the pandemic has collided with supply side constraints in many industries, inflation and interest rates are rising, and the Ukraine war, together with sanctions on Russia have disrupted global commodity flows. Amid the myriad uncertainties, perhaps the most …

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Posidonia Then and Now: A Look into the Greek Fleet

To celebrate the much awaited return of Posidonia after 4 years, we take a look at how the Greek fleet has developed since the last event in 2018, using VesselsValue data. From 2018 to 2022, the value of the Greek owned fleet increased by 92%. This is a considerable increase considering the fleet only grew …

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Car Carrier Bidding Wars Spark All Time Rates Boom

Bidding wars for Car Carriers are driving rates up to record highs never before seen in the sector. Eastern Pacific’s Lake Wanaka (4,902 CEU, May 2008, Xiamen Shipbuilding Ind) was fixed for 1 year at 50,000 USD/Day to Volkswagen in March. A premium of 10,000 USD/Day compared to the larger, younger Lake Geneva (6,178 CEU, …

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Consolidation is King – Tidewater and Swire Pacific Offshore

Tongues are wagging in the Offshore sector this week, as one of the longest running rumours in the market has finally come true. Tidewater Marine (USA) has acquired Swire Pacific Offshore (Singapore) for USD 190 mil, the company’s biggest powerplay since its acquisition of GulfMark Offshore back in 2018. But why SPO, and why now? …

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Diesel Vacuum in Crisis – Struck Europe Sucks In MRs

Demand for Clean Tankers has shifted up another gear, as the Ukraine crisis intensifies. As Russian troops amassed at the border with Eastern Ukraine last month and hostilities commenced on February 24th, the MR Atlantic Basket (an average of freight rates on key routes in the Atlantic Basin) climbed steadily from a January 25th low …

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Newbuild Report 2021

Introduction 2021 was a record breaking year for the Maritime industry. The spread of three major Covid-19 variants had substantial repercussions for Shipping: labour shortages, port congestion and volatile oil demand, to name but a few. Responding to the fast changing nature of global trade, the newbuilding orders of 2021 have reflected a world littered …

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Trade Report 2021

Introduction and Overview The Shipping markets saw unprecedented volatility during 2021 with time charter rates reaching all time highs in the Container and LNG markets, and decade highs in the Dry Bulk markets, before giving up a large portion of those gains at year end. The Tanker markets have truly been a story of two …

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Russian Naval Drills Impact Black Sea Trade Flows

Despite ending a blockade of Ukraine’s Black Sea ports, Russian naval manoeuvres in the early part of February have visibly impacted traffic in the region. Ukrainian officials denounced Russian naval drills off its Black Sea coast last week, saying the presence of warships made navigating the busy trade route “impossible”. Traders were more cautious in …

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What’s happened to the Teras Offshore Liftboat fleet?

Teras Offshore, once a notorious ‘‘big boy’’ in Singapore’s offshore oil & gas market and owning a varied fleet of Liftboats, Jack-ups and small AHTs, has recently been forced to close its doors for good and put an end to years of suffering and losses. On the 30th of December, the company officially announced it …

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