Do you think that the industry will be ready to meet the 2020 deadline? The industry will rush to meet the deadline, now that they know for certain that there will be no extension. The first step is for companies to create a ship implementation plan because after 1 Jan 2020 owners will not be … [Read more...] about Scrubbers: A shipping executive’s view
According to US secretary of state- Mike Pompeo during an address on the November 4, the goal is “depriving the regime of the revenues that it uses to spread death and destruction around the world”. He continued that the ultimate aim is to compel Iran (currently the world’s sixth largest exporter of … [Read more...] about Impact of US sanctions on the tanker market
Rates are looking healthier, led by the VLCC’s the Baltic Dirty tanker index has spiked, world scale has reached 100 and on the period front there has also been an improvement in the levels of activity since the start of the month. Alibra has reported VLCC one-year TC rates for October averaging at … [Read more...] about Will VLCCs lead the tanker market to recovery?
Compliance options are to install scrubbers, to switch to LNG or another compliant fuel or face non-compliance and any penalties that this could entail. With some reports indicating that the penalties for non-compliance are low compared and potentially cheaper than the economic incentives such as … [Read more...] about Bulk carrier scrubber orders outpace tankers
The hurricane has closed ports in Virginia, the largest coal exporting district in the US and this will likely have an impact on dry bulk markets. As with most hurricanes it is proving unpredictable and it will likely cause considerable disruptions to the freight infrastructure in this area. … [Read more...] about Hurricane Florence could prove catastrophic for some US commodities
Almost 80.0% of the overall VLCC orderbook is scheduled to arrive this year and next, which could pose a problem if charter markets do not improve dramatically in the short term. VLCC earnings have, generally speaking, been on a downward trajectory since last year, although in the past two months … [Read more...] about VLCCs, Place your bets!
Trump is expected to announce import tariffs today on Chinese consumer and tech products, with China poised to retaliate against the US agricultural sector worth $14 billion annually. But what of the iron ore market globally? Steel products are the single biggest category of US dry bulk imports with … [Read more...] about Trade War and Iron Ore markets
This week, a shipping company announced that it is working on a deal that will be paid in Bitcoin, which is believed to be an industry first. But does Bitcoin have a future in shipping? Firstly, what is Bitcoin? It is digital and seen as an alternative currency. Unlike the notes or coins, it … [Read more...] about Does Bitcoin have a future in shipping?