Bermuda-headquartered Nordic American Tankers (NAT) said that its tanker segment is on upswing mode following he strong market improvement for its Suezmax tankers."However, seeing is believing and if anyone had doubts, last week, the international shipbroking firm of Clarkson Platou Research reported the largest week-on-week increase in the history of their freight index,"pointed out the company.
The global autonomous ships industry is expected to generate $134.9 billion by 2030, witnessing a CAGR of 4.4% from 2020 to 2030.This projection is premised on an increase in demand for cargo transportation from marines and surge in operational safety of ships drive the growth of the global autonomous ships industry, according to a report published by Allied Market Research.
Newbuild MarketUnsurprisingly, across the offshore sectors, newbuild orders have been scarce to none. Oversupply is still a major problem for the industry and due to slippage, ordering vessels now would be counterproductive. Why order brand new vessels from a yard and wait several years for these to be delivered
Infrastructure continues to expand, and pricing incentives will continue to shift as the market matures. The LNG markets look like they may resemble the clean product tanker market in several years, which is highly arbitrage driven. We look to see an increased number of portfolio players working the spot market, which will drive the commoditization of the space and enable further demand.
NewbuildingMany Chinese companies have been stepping up in the bulker market with COSCO Shipping and Avic leasing placing orders at Chinese yards. Of the total 313 Bulkers ordered over the past year, nearly 40% have been Panamax vessels, demonstrating the hot market.Source: Vessels ValueSecond hand marketThe Bulker market as a whole has shown a softening in values over the past year.
NewbuildingSince the beginning of the year, 100 newbuild orders have been placed across the tanker sector. This is a considerable amount lower than the same period last year, when 140 vessels were placed. It is no surprise to see the Greeks lead the way with the highest number and largest vessels ordered, but hot on their heels are the likes of Eastern Pacific and Ocean Tankers
The tanker shipping market continued to be volatile during the first quarter of 2019, but at a higher level than in the corresponding quarter the previous year, said Concordia Maritime.After the sharp rise at the end of 2018, some tanker market segments have now slowed down again, said the international tanker shipping company.
Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its Seabreeze market report follows this convention with a description of the “feast or famine” conditions in the North Sea.
We recently met up with Kenneth Dastol, CEO & President, Zenitel Group, who provided some exclusive insight and analysis on the dynamic world of mobile communication trends in the maritime sector.Please give an overview of Zenitel Group today.The Zenitel Group is the leader of intelligent communication systems.
The product tanker market registered a robust recovery in the fourth quarter of 2018, partially reversing the downward trend observed in the first nine months of the year, said Capital Product Partners.The Marshall Islands' tanker company said in a stock exchange annoucement that the beginning of the quarter was weak in line with the previous quarters
Late 2018 saw the tanker market bubble upwards through late November, with daily vessel hires moving in the direction of, though not yet reaching levels not seen since late 2014-2015, when oil prices were in freefall and inventories building to the brim. A few pundits have suggested that we are seeing a “mini 2014” where lowered oil prices are coaxing another inventory build which would drive
Spending on the offshore service sector will outpace spending on the onshore shale sector this year, said Rystad Energy.According to Rystad's Oilfield Service Research report, service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal.