Tag: China
VLCC Tonne days growth from AG to China has decreased to the lowest level since the end of 2022
During the first week of October, the VLCC MEG China rates experienced a downward revision, amid hopes of a recovery. Looking at the demand, growth rates are still significantly lower than what they were the previous year leading to a negative sentiment in the crude freight market. Moreover, there are concerns about oil demand as…
Product Tankers: Clean Product Exports from the Middle East and China on the Rise
The product tanker market hasn’t seen the benefits of increased Middle East clean product exports, rate-wise. In its latest weekly report, shipbroker Gibson said that “this year has seen a major increase in the Middle East clean product exports to Europe, with flows, mainly gasoil and jet, averaging at 0.82mbd for the year to date,…
China Leading Iron Ore Imports in 2023
China’s iron ore imports have increased so far in 2023, helping sustain dry bulk market rates. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been so far a positive year for global iron ore trade. In Jan-Jul 2023, global loadings of iron ore increased by +3.9% y-o-y to 892.6 mln tonnes,…
Crude oil flows from AG to China have been fluctuating at a lower level since the last peak in mid-April
In the last days of July, the outlook for crude oil freight rates showed signs of weakness as the growth of demand in tonne days continued to decline. Additionally, the daily 25-day moving average of crude oil flows from Arabian Gulf countries to China has been consistently decreasing since its peak in mid-April. During July,…
Iron ore and coal dry bulk flows to China daily (25d MA) above year-earlier level
The third week of July sustained the downward trend of freight market rates of the previous days of July, however, signs of an upward trend were recorded in the Panamax Continent to Far East rates. On the supply side, the number of ballast ships increased significantly across all vessel size categories implying that freight rates…
