EU Tanker Import Tonne-mile Demand up 12% due to Ships Avoiding Red Sea Area(BIMCO)
During the first quarter of 2024, tanker import volumes to the EU fell 4% year-on-year due to a 1% increase in the clean tanker trade but a 5% fall in…
Container Volume Growth Forecast (BIMCO)
We forecast that container volumes will grow 3-4% in both 2024 and 2025 and thus slightly faster than the global economy. We expect head-haul and regional trades to grow marginally faster than the total. As volumes during the first half…
IMO progressing with mid-term measures to cut ship emissions
IMO is advancing discussions on legally-binding ‘mid-term’ measures to help the maritime industry achieve net zero shipping, as set out in the 2023 IMO Strategy on the Reduction of GHG Emissions from…
February 2024 Tanker Shipping Market Overview
For crude tankers, we forecast that the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing distances, create the foundation for the improvement despite…
Crude tanker construction contracts jump 490% as VLCC orders surge
Since the start of the war in Ukraine, freight rates for crude tankers have spiked and stayed strong during the first two months of 2024. The Baltic Exchange Dirty Tanker…
January 2024 Dry Bulk Shipping Market Overview
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for both 2024 and 2025…
Ship Recycling to Lowest Level in Last 2 Decades
During the first quarter of 2024, only two million deadweight tonnes (DWT) ship capacity were recycled. This marks the ninth consecutive quarter with recycling levels below three million DWT. The…
Dry Bulk Shipping Market Overview Q4 2023 (BIMCO)
Average haul could increase by between 0.5% and 1.5% in 2023 and between 0% and 1% in both 2024 and 2025. From 2024 onwards, there may be a decrease in…