Tag: trade
Blank sailing trends will persist due to oversupply and import demand uncertainty, affecting capacity and trade routes
This analytical piece provides an in-depth examination of current trends in blank sailings across major shipping routes, encompassing the Transpacific, Transatlantic, and Asia-North Europe & Mediterranean trades. Shipping firms cancel or exclude planned journeys for various reasons, including seasonal demand shifts, trade imbalances, port congestion, labor disputes, adverse weather, or unforeseen events like the COVID-19…
Tankers: Diesel Trade Landscape Changed After Surge in Russian Diesel Imports
The diesel trade in ton-miles demand is a totally different “animal”, after Brazil has significantly increased Russian diesel imports. In its latest weekly report, shipbroker Intermodal said that “the diesel import landscape in Brazil has undergone a significant transformation with a surge in Russian diesel imports, impacting the energy and shipping sectors. Diesel prices in…
World Trade Report 2023 makes case for “re-globalization” amid early signs of fragmentation
The post-1945 international economic order was built on the idea that interdependence among nations through increased trade and economic ties would foster peace and shared prosperity. For most of the past 75 years, this idea guided policymakers, and helped lay the foundation for an unprecedented era of growth, higher living standards and poverty reduction,” WTO…
Tankers: Mexico’s New Refinery Will Change the Crude and Clean Tanker Trade
The crude and clean tanker market in the North American region will see its trade shift, from 2024 onwards, as a result of the operation of the new Olmeca (former Dos Bocas) 340,000 b/d refinery in Mexico. In its latest weekly report, shipbroker Gibson said that “despite being a major crude exporter and home to…
Xeneta container rates alert: Amid Record-Low Trans-Atlantic Trade Rates, Shippers Must Seize Opportunities Before Market Rebounds
Spot rates on the Trans-Atlantic fronthaul trade from North Europe to the US East Coast (USEC) are plummeting rapidly. According to Xeneta’s platform data, the monthly average rate for a 40-foot standard container (FEU) has dropped dramatically, falling from USD 5,298 (excluding Terminal Handling Charges) in January to a mere USD 809 in August. This…
Container Rates Alert: Spot rates rally on key Far East trade lanes after latest GRI moves
Spot rates for containerized ocean freight have climbed across three leading Far East export corridors after the latest round of General Rate Increases (GRIs) from carriers. The news, revealed by Oslo’s Xeneta, provides welcome relief for a segment that has been “up against the ropes” for much of 2023, fighting against declining demand and volumes,…
Reefer shipping remains resilient despite 2022 trade contraction
Reefer container freight rates continue to outperform the dry cargo trade, despite an unprecedented contraction in reefer seaborne trade last year, and this divergence is forecast to continue over the next few years, according to Drewry’s recently published Reefer Shipping Annual Review and Forecast report. The normalisation of the reefer trade and resultant freight rate…
Coal trade to return to 2019 levels
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. After a tumultuous few years marked by the Covid-19 shock in 2020 and the turmoil caused by Russia’s invasion of Ukraine in 2022, the coal markets have returned to more predictable and stable patterns…
