Search results for: Oversupplied

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  • 4 April 2019

    Avoiding overcapacity and unsustainably low freight rates is still a major challenge, ICS Deputy Secretary General said.

  • 28 November 2016
    Business & Finance

    The withdrawal of Hanjin Shipping’s tonnage has not been enough to rectify the Asia-Mediterranean trade’s supply-demand imbalance and the new alliance schedules for next year do nothing to address this issue, according to shipping consultancy Drewry. Westbound volumes rose by 1.8% in the third quarter and the growth rate for the year to date is […]

  • 8 June 2017

    The oversupply of tonnage in the shipping industry should be left to sort out itself, it was concluded at a panel debate on Ship Oversupply and Accelerating Sustainable Recycling, held on June 6 in London, UK. Over the past eight years, the world fleet has grown by 50 percent in tonnage terms, which has become […]

  • 3 September 2015

    In a new global gas analysis, Wood Mackenzie remarks that despite the outlook for global LNG demand looking increasingly subdued, the number of LNG projects proposed to take a Final Investment Decision in 2015 and 2016 has not reduced significantly, in contrast to the 45 upstream oil & gas projects which have postponed FID so far in 2015.

  • 3 July 2017

    Low freight rates should be the best incentive for owners to take the bitter pill and scrap some of the outdated tonnage in order to bring the necessary ease to the heavily oversupplied market, according to BIMCO’s Chief Analyst Peter Sand. Freight rates have experienced a solid rebound from the 2016-lows, with rates for all trade […]

  • 2 February 2017
    Business & Finance

    The expected expansion of the chemical shipping fleet in 2017, driven by the large number of orders placed in previous years, will continue “squeezing rates on major routes over the next two years,” shipping consultancy Drewry said. Time charter rates weakened in 2016, especially for larger tankers, and freight rates on major long-haul routes dropped. Although […]

  • 14 November 2017

    The recovery of the tanker market forecast to start next year and give the much-needed boost to company earnings seems to be far-off due to the lingering effect of tonnage oversupply. According to Fitch Ratings, a glut of new vessel deliveries and limited scrapping of older ships means the global tanker market will remain oversupplied in […]

  • 6 November 2017
    Business & Finance

    The shipping industry has to face the music when it comes to becoming compliant with the new environmental regulations, such as the Ballast Water Management Convention (BWMC) and the IMO’s 2020 Sulfur Cap, as highlighted by Polys Hajioannou, Chairman & CEO of Safe Bulkers in an interview provided by Capital Link. Namely, shipowners have to install the necessary BWM equipment […]

  • 10 June 2015

    Just 12 months ago, the Chinese gas market looked set to continue its relentless pace of growth, which averaged over 15% annually during the previous decade.

  • 20 June 2016

    The latest research by McKinsey Energy Insights (MEI) predicts the LNG oversupply could last until 2024, meaning few projects could reach financial investment decision in the next 12 to 18 months.

  • 12 June 2017

    In an oversupplied market carriers have proved to be fairly adept in manoeuvring capacity around, creating fertile conditions for rate increases, according to shipping consultancy Drewry. After five months of 2017 Drewry’s Global Freight Rate Index stands 37% higher than it was in the same period last year as carriers adapted to the conditions, formulating a […]

  • 4 October 2017
    Business & Finance

    With weaker demand in the fourth quarter and a steady stream of new vessel deliveries, the supply overhang of surplus containerships is not expected to end soon, according to Alphaliner. As a further 1.6 million TEU of new ships are due to be delivered in 2018, the overall capacity increase is unlikely to be absorbed […]

  • 17 June 2014

    Kogas resorted to swapping a combined 120,000 tonnes from two LNG cargoes with Taiwanese CPC Corp, due to expected oversupply in the off-season. This deal sees CPC receive two cargoes initially destined to KOGAS from Malaysia’s Petronas LNG. Kogas will later receive the two swapped cargoes during the winter season, reports Reuters. According to traders in […]

  • 10 June 2015

    Just 12 months ago, the Chinese gas market looked set to continue its relentless pace of growth, which averaged over 15% annually during the previous decade.

  • 14 January 2015

    Strong westbound growth for both Middle East and Indian Subcontinent regions is helping to offset oversupply, UK shipping consultant Drewry said. Container shipments from Asia to the Middle East and Indian Subcontinent started the fourth-quarter in brisk fashion with year-on-year growth of 4.8%, according to data supplied by Drewry’s Container Trades Statistics (CTS). This latest monthly […]

  • 18 August 2014
    Business & Finance

    Although the Caribbean market for Aframaxes has taken a precipitous tumble last week, other tanker segments have maintained healthy spot rates suggesting that vessel oversupply could be moderating in the general sense, Poten & Partners reports in their latest  ‘Tanker Opinions’. “Since ordering momentum continues, due in large part to a feeling that the market is coming […]

  • 7 May 2015

    Spring has arrived in Northern Europe, but the brighter weather has not coincided with brighter prospects for OSV owners in the North Sea, Seabrokers write in their April newsletter. The downturn that has been experienced in the market showed no signs of abating in April, with average spot fixture rates well down on the comparable […]

  • 12 September 2011

    UK prompt gas prices plunged on Monday morning amid a glut of supply as demand fell 30 percent below seasonal average levels… (reuters) [mappress] Source: reuters, September 12, 2011;

  • 17 May 2016
    Business & Finance

    Due to the ongoing oversupply in the pressurised market, the LPG sector has seen a further slide in average rates for smaller and older vessels in the past twelve months as the rolling average dropped off about 15% from the end of Q1 2015 for the smaller vessels, whilst the larger vessels have held broadly stable, according to pressurized […]

  • 8 November 2016
    Business & Finance

    Softening seaborne trade and rising fleet growth are expected to depress chemical shipping freight rates over the next few years, according to shipping consultancy Drewry. Spot rates collapsed in the third quarter as some charterers who usually fix their cargoes on contract took advantage of low spot rates. This situation also weighed on time charter […]

  • 21 October 2014

    Asian spot prices fell in the first half of October as the region struggled to absorb abundant supply of liquefied natural gas from the Pacific basin amid weak demand fundamentals, reveals the ICIS East Asia Index (EAX). The November ’14 East Asia Index (EAX) was assessed at $13.950/MMBtu on 15 October, having shed $0.775/MMBtu from a […]

  • 25 August 2011

    The dry bulk shipping market is being hit by an oversupply of vessels and slower world trade… (channelnewsasia) [mappress] Source: channelnewsasia, August 25, 2011