Tag: Year
Xeneta: Long-term ocean freight rates plunge by more than 60% in year of decline, but changing fortunes appear imminent
Long-term ocean freight rates slid once again in August, marking the 12th consecutive month of declines for beleaguered carriers. According to the latest real-time data from the Xeneta Shipping Index (XSI®), contracted rates fell 7.8% in August, meaning prices have now dropped 62.7% since this time last year. The world’s busiest routes – exports from…
Three countries began importing liquefied natural gas this year, and more will follow
Global liquefied natural gas (LNG) import capacity is set to expand by 16%, or 23 billion cubic feet per day (Bcf/d), by the end of 2024 compared with 2022. Our estimate is based on trade press and data by the International Group of Liquefied Natural Gas Importers (GIIGNL). In the first seven months of 2023,…
Drewry: Dry Bulk Equity Index Down 15.2% This Year
The Drewry Dry Bulk Equity Index dropped 15.2% YTD as a 28.5% slump between March and May was more than enough to offset an 18.4% jump in the first two months of 2023 and a 5.7% gain in June and July. Sell-side pressure in the aftermath of the banking crisis, a contraction in China’s manufacturing…
