15 Jun 2020
COVID-19 Slams Vehicle Carrier Market
COVID-19 has hit the vehicle carrier market hard. The world vehicle demand has dropped by c.35%. Consequently, shipping these vehicles has fallen considerably.The only order to take place earlier this year is one from NYK line for a large LCTC for $95 million.No deals have taken place since the beginning of the year, this is a figure we have not seen historically. A break of five months on the S&P side of things in the Vehicle carrier market.
15 Jun 2020
Market in Focus: Gas Ships
Liquefied natural gas (LNG) shipping hasn’t been able to avoid the negative impact of COVID-19 as gas demand fell during the first quarter of 2020.The residential sector recorded the largest drop in consumption this year compared to 2019 which wasn’t helped by the mild winter seen in the US. The shut-downs of major economies and more specifically shut-ins of cargoes due to the historically low gas…
12 Jun 2020
Market in Focus: Containershipping
The only orders to be placed since the beginning of the year are from OOCL and Great Horse China for a combination of 7 ULCV’s ranging in size. This is a drop of 86% compared to this time last year and can only be due to the Covid-19 outbreak.As the global lockdown intensified through March, rates and values across all sizes fell. We have seen the larger 8,500 TEU tonnage earnings fall by c.40% since the start of the year which has bought values down a considerable amount.
11 Jun 2020
Bulk Carriers Orders Down 30%
The number of Bulker orders were down 30% for 2020 YTD compared to the same period last year. From the 1st of January 2020 when the Chinese market and shipyards closed due to the pandemic, until today, we have only seen USD 1,037 mil spend in the Bulker NB market, down 35% for the same period in 2019. The Chinese government have now started up the economy again and most of the orders placed are by…
09 Jun 2020
Market Report: Tankers
Total number of Tanker orders are down by 26% for 2020 YTD compared to the same period in 2019. By comparing to 2018 YTD, this year there have been half the number of orders placed. This comes as no surprise as Europe and the US entered the lockdown phase of the pandemic earlier this year, only a month or so after the Chinese industry shut down. However, towards the end of May 2020 orders were placed for both VLCC’s and Suezmaxes by the Greeks…
24 Jun 2019
Market in Focus: Bulkers
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. The main reason for this is due to the drop off in rates throughout the first quarter of 2019.
21 Jun 2019
Market in Focus: Tankers
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 Singaporean owners…