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Fitch Ratings updates oil and gas price assumptions
Jun 19, 2024 · Fitch Ratings has maintained most of its oil and gas price assumptions, reflecting broadly unchanged market fundamentals. Our base-case oil price assumptions have not changed. While Brent crude oil prices reached USD90 a barrel in April due to increased tensions in the Middle East, prices declined once the concerns had abated. OPEC+’s decision, announced in […]
Baltic index extends losses on weaker capesize, supramax rates
Dec 20, 2024 · The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, extended losses to a 17-month low on Thursday, dragged down by weaker rates across capesize and supramax vessel segments. The index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 52 points to 976 points, […]
Oil Supertanker Rates on China Routes Double Since Sanctions
Jan 20, 2025 · The cost to hire an oil supertanker on key routes to China has doubled since the US imposed sanctions on Russia, showing the extent to which the move has upended the global shipping market. The sanctions have jolted a freight market that was, until recently, dealing with softer demand due to supply curbs, a tepid […]
Navigator Holdings completes expansion of ethylene export …
Jan 8, 2025 · Navigator Holdings, the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, announces the completion of the expansion of its existing ethylene export terminal joint venture owned 50/50 by Navigator and Enterprise Products Partners L.P. at Morgan’s Point, Houston, previously announced on November 15, 2022, with additional information on March 9, […]
Baltic index extends decline on lower rates across vessels
Jan 16, 2025 · The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, inched lower for a second consecutive session on Wednesday, dragged down by weaker rates across all vessels. The index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 17 points at 1,063 points. The […]
Containership contracting spree now exceeds 10 million TEU
Aug 28, 2024 · “When only six ships with a capacity of 4,746 TEU were contracted in the fourth quarter of 2023, many might have thought that the container ship contracting spree that began in 2021 had finally cooled. However, the appetite for new ships remains high and year-to-date contracting already exceeds the 2023 full year total. That brings […]
USTR finds China’s shipbuilding dominance hurts US, is actionable
Jan 20, 2025 · The U.S. Trade Representative’s office on Thursday said it has found China’s targeted dominance of the global shipbuilding, maritime and logistics sectors is “unreasonable” and is “actionable” under U.S. trade law. The findings of a USTR probe, first reported by Reuters on Tuesday, did not include a specific recommendation of penalties against Beijing, leaving next …
Dynacom orders 10 new vessels - Shipping Herald
Jun 14, 2023 · According to broker reports, Dynacom has placed orders for two very large crude carriers at New Times Shipbuilding and eight 85,000 dwt bulk carriers at Huangpu Wenchong Shipbuilding. The VLCCs will reportedly cost the shipping company about USD 115 million each and the bulkers come at a cost of USD 37 million per vessel. The vessels are expected to be delivered from 2025 to 2027.
Hapag-Lloyd orders 24 new container ships - Shipping Herald
Nov 7, 2024 · Hapag-Lloyd has signed two contracts with two Chinese shipyards for a total of 24 new container ships. Of these, 12 newbuildings – each with a capacity of 16,800 TEU – will be built by Yangzijiang Shipbuilding Group. These units will be used to expand the capacity of services that are already in place. An additional […]