European Maritime

by hellenicshippingnews… on 7 February 2025 at 10:00 pm

China’s LNG imports kept rising during 2024, following the trend of the previous years, but EU remains ahead. In its latest weekly report, shipbroker Banchero Costa said that “global seaborne LNG trade was increasing sharply until 2022, helped also by the events in Ukraine which forced Europe to diversify away from Russian pipeline gas. The …

by hellenicshippingnews… on 7 February 2025 at 10:00 pm

The crude oil freight market remains highly volatile, with recent spikes in VLCC rates on the MEG-China route. While tonne-day demand growth has yet to show signs of recovery, market sentiment appears to be firming, driven by uncertainty surrounding oil price fluctuations and China’s crude oil demand. Additionally, the impending implementation of U.S. tariffs on …

by hellenicshippingnews… on 6 February 2025 at 10:00 pm

Commodity markets have been mired with uncertainties at the beginning of 2025. In its latest weekly report, shipbroker Xclusiv said that “the start of 2025 has seen significant turbulence across the global commodity markets, driven by shifting trade policies, supply constraints, and geopolitical maneuvering. China’s iron ore and seaborne coal imports have started the year …

by hellenicshippingnews… on 6 February 2025 at 10:00 pm

Between September 2024 and January 2025, ship capacity in deadweight tonnes transiting through the Panama Canal was 10% lower than the 2019-22 average. Although there were no transit restrictions during this period, transits of dry bulk, LNG and, to a lesser extent, tanker ships have not recovered to their historical levels,” says Filipe Gouveia, Shipping …

by hellenicshippingnews… on 5 February 2025 at 10:00 pm

The ship recycling market is still exhibiting limited activity all around. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the ship recycling market remained largely inactive across all major destinations this week, with no significant improvements or sharp declines. In India, the market remained unchanged from the …

by hellenicshippingnews… on 5 February 2025 at 10:00 pm

The total coal shipment volume from the U.S. to Europe in 2024 is estimated at 25.2 million tonnes, reflecting a decline from 2023, which recorded 26.4 million tonnes. This marks a 4.5% year-over-year drop in total coal exports, suggesting a potential weakening of European demand for U.S. coal, possibly due to factors such as regulatory …

by hellenicshippingnews… on 5 February 2025 at 10:00 pm

President Trump’s latest trade tariff salvo took aim at the EU, confirming his long-held promise to increase levies on exports to the US, as he seeks to redress trade imbalances and protect domestic markets. In the same breath, he added that a deal between the UK and US ‘could be worked out’, a statement that …

by hellenicshippingnews… on 4 February 2025 at 10:00 pm

To mark the Lunar new year, we take a look at the Chinese newbuilding orderbook, using VesselsValue data. The infographic highlights the Chinese orderbook by top Chinese ordering companies and insight into the ships currently being built at Chinese yards. Of the top Chinese companies ordering vessels last year, China Merchants Shipping ranks first, with …

by hellenicshippingnews… on 4 February 2025 at 10:00 pm

On 5 February 2025, the UK Supreme Court will hear the appeal in the MSC Flaminia. In brief, following a fire and explosions on board the Flaminia, the owners incurred various salvage and other expenses which they sought to claim from the time charterers, who were found liable for the owners’ losses arising out of …

by hellenicshippingnews… on 3 February 2025 at 10:00 pm

A rise in the subdued demolition activity could provide a significant relief to the shipping markets. In its latest weekly report, shipbroker Intermodal said that “building on our previous report, in which we analyzed the projected bulk carrier deliveries for 2025, and considering the current downturn in the freight market, an increase in demolition activity …

by hellenicshippingnews… on 3 February 2025 at 10:00 pm

A new report from UCL Energy Institute Shipping and Oceans Research Group and UMAS reveals significant risk in some of the options the International Maritime Organization (IMO) is considering, for enabling shipping’s energy transition. The analysis comes at a crucial time as the IMO prepares for key negotiations in February and April 2025 to finalise …

by hellenicshippingnews… on 2 February 2025 at 10:00 pm

The VLCC tanker market could be primed for a very good year, in terms of performance. In its latest weekly report, shipbroker Gibson said that “VLCCs are enjoying a moment in the spotlight. A low orderbook and sanctions news have put a spotlight on the largest asset class in the tanker markets. However, the outlook …

by hellenicshippingnews… on 2 February 2025 at 10:00 pm

Capesize The Capesize market faced a subdued week, with the BCI 5TC steadily declining from $7,946 on Monday to reach $6,977 by Thursday. However, a modest recovery towards the weeks end lifted the 5TC to $7,252. The Pacific market remained under pressure, exacerbated by the Chinese New Year holidays, which significantly reduced fresh cargo availability. …

by hellenicshippingnews… on 2 February 2025 at 10:00 pm

The recent wildfire in Los Angeles is expected to drive up import demand for bulk and breakbulk commodities in the US, while export numbers could decline. Rebuilding the region will aid the need for construction materials, generating demand for bulk and multipurpose shipping. The wildfire has caused severe damage, affecting thousands of homes and businesses. …

by hellenicshippingnews… on 31 January 2025 at 10:00 pm

Demand for Brazil’s iron ore, most notably from China rose by 4.1% during 2024. In its latest weekly report, shipbroker Banchero Costa said that “2024 was another positive year for global seaborne iron ore trade. In Jan-Dec 2024, global loadings of iron ore increased by +2.3% y-o-y to 1,669.2 mln tonnes, based on AXS Marine …

by hellenicshippingnews… on 31 January 2025 at 10:00 pm

A record number of new tankers were ordered in 2024 with 435 orders placed across the year, an increase of around 31% year-on-year according to according to Veson Nautical’s ‘2024 End- Of-Year-Report’. The report, compiled by Veson’s data and intelligence arm VesselsValue, states that the growth in the tanker newbuilding sector was driven by high …