European Maritime

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

With the holiday period now firmly behind, VLCC tankers are starting to show some moderate demand. In its latest weekly report, shipbroker Affinity said that “after a rather quiet festive period, VLCC lists have replenished somewhat and some owners are now starting to get impatient once again with the lack of volume – not implying …

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

Drewry expects LNG shipping to normalise further in 2025 as fleet growth continues to outpace liquefaction build-up, preventing any recovery in rates. Although demand will recuperate, erratic weather conditions, LNG prices, competition from other sources of energy and efforts towards carbon neutrality will dictate the LNG appetite, with demand varying regionally. Moreover, global LNG supply …

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

Demand for second hand dry bulk carriers has been high throughout 2024. In a recent weekly report, shipbroker Intermodal said that “the dry bulk sale and purchase activity continue to demonstrate remarkable strength this year so far, achieving the second-largest volume of transactions in the sector’s history for the first ten months of the year, …

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

The VLGC market will navigate a complex landscape in 2025, shaped by a mix of positive and negative factors, such as robust LPG trade and ample fleet supply, which will take rates below 2024 levels. This market will be characterised by surplus vessel availability despite fewer deliveries next year, limiting any potential upside in rates. …

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

EU has remained a leading importer of seaborne crude oil during 2024. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been another positive period for crude oil trade, despite the high oil prices and risks of economic recession. In Jan-Dec 2023, global crude oil loadings went up +4.7% y-o-y to 2186.8 …

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

Product tanker earnings will moderate in 2025 as demand fears and improving supply weigh on rates. The journey of the humble product tanker has been full of surprises with rates surging since the start of the Russia-Ukraine war. Owners benefitted hugely from the surge in tonne-mile demand, but earnings started to fall in 3Q24 when …

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

Leading research and consultancy provider Maritime Strategies International (MSI) forecasts that tanker contracting in 2024 will reach its second highest level ever. The first 11 months of 2024 saw near-record levels of tanker contracting, with 55m dwt ordered second only to the super-cycle year of 2006. MSI’s proprietary market model for 10,000dwt+ tanker orders has …

by hellenicshippingnews… on 2 January 2025 at 11:00 am

As we enter 2025, it’s worth reflecting on the course of the tanker market during 2024, as well as giving an insight into what to expect in 2025. In a recent weekly report, shipbroker Xclusiv said that “the tanker market in 2024 exhibited remarkable resilience, achieving sustained profitability amidst considerable market volatility across various vessel …

by hellenicshippingnews… on 2 January 2025 at 11:00 am

Crude tanker owners will continue to enjoy attractive earnings in 2025 amid economic and geopolitical uncertainties, as slow fleet growth and increased long-haul trade will keep tonnage utilisation high. While VLCC rates will benefit from a surge in long-haul trade and a stagnant fleet, the mid-size tanker market will soften because of an influx of …

by hellenicshippingnews… on 2 January 2025 at 11:00 am

The new rules form part of the EU’s persistent drive to reduce GHG emissions within the European airspace and they will introduce a new set of obligations and compliance requirements for the shipping sector. From a practical perspective, the key concern for maritime stakeholders operating in Europe will be to understand in what measure the …

by hellenicshippingnews… on 30 December 2024 at 10:00 pm

Challenges around the matter of green ship financing are still persisting, five years after the introduction of Poseidon Principles. In its latest weekly report, shipbroker Intermodal said that “half a decade has passed since the introduction of Poseidon Principles to the ship financing sector, a set of guidelines aimed at advancing the financing of environmentally …

by hellenicshippingnews… on 30 December 2024 at 10:00 pm

The dry bulk market is poised for an upside in earnings as global and regional environmental regulations will reshape vessel supply. The higher earnings are coupled with higher fragmentation in the freight market as vessel movement will continue to adapt to comply with the regulations. Resilience in commodity demand While the outlook for GDP growth …

by hellenicshippingnews… on 30 December 2024 at 10:00 pm

Shipping must be open to sharing the risks associated with emissions reduction to enable the uptake of energy savings devices and technologies (ESDs/ESTs) and digital applications. The responsibility of investing in and driving the uptake of new solutions must be borne by all relevant stakeholders and not sit solely with the shipowner. This extends not …

by hellenicshippingnews… on 29 December 2024 at 10:00 pm

Despite the year end, newbuilding activity has remained elevated over the past week. In its latest weekly report, shipbroker Intermodal said that “this week witnessed significant activity, especially in the dry and containership sectors. In total 28 new buildings were contracted, mostly by Chinese groups. In the dry front, Chinese owner COSCO placed an order …

by hellenicshippingnews… on 29 December 2024 at 10:00 pm

Restech pneumatic line throwers use compressed gas instead of explosives, making them safer, more precise, and more cost effective than their pyrotechnic counterparts. Pyrotechnic, or rocket-propelled, line throwers have existed in maritime for centuries and remain a common feature in the industry today, but there are good reasons why users have pushed for a practical …

by hellenicshippingnews… on 27 December 2024 at 10:00 pm

The global ship recycling market remained subdued as the year ends, mirroring the trend set for the most part of 2024. In a recent weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “this week, the ship recycling markets across the four major destinations continued to face challenges, with little improvement …