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SHIPPING NUMBER OF THE WEEK
Over the past three months, dry bulk newbuilding contracting has been 70% below the yearly average. Declining freight rates in recent months, a cloudy outlook and high newbuilding prices contributed to the slowdown, and contracting in 2024 will likely fall short of 2023 levels.
July 2021
Secondhand container ship deals jump over 100% in H1 2021
During the first half of 2021, a total of 277 container ships have changed hands, a 103.7% jump from 136 ships bought and sold in the same period of 2020 (source: Vessels Value).
June 2021
China processes all-time high 60.5m tonnes of crude oil in May
Chinese refinery crude oil throughput has reached its highest level ever, with total processed volumes up 12.0% in the first five months of this year compared to 2020, and up 10.9% from the same period in 2019.
San Pedro Bay ports struggle to keep up as record-breaking 1.9m TEU handled in May
The ports of Los Angeles and Long Beach continue their record-breaking start to the year, exceeding pre-pandemic records again and again.
…and the winner of EURO 2020 is…
If EURO2020 was to be decided by shipping-related factors, who would come out on top?
Nine months US corn exports already exceeding last season’s total by 5.9m tonnes
Many agricultural trades have been exceptionally strong in 2021 and several grain types have experienced record high exports. US corn exports are no exception.
May 2021
All eyes on US gasoline today; will demand exceed 9.2m bpd?
“Fill her up son, unleaded; I need a full tank of gas where I'm headed,” former Police-front man, Sting, sang back in 1999 on his solo album: “Brand New Day”. This country-inspired song could be the anthem for what is coming around next week, as Monday 31 May is Memorial Day in the US; the day that kicks off “the US driving season”.
US West Coast imports exceed 1m TEU in nine out of ten past months
The surge in US container imports continued in April when West Coast loaded imports amounted to 1.10m TEU.
Clean product tanker rates on US bound trade almost doubles after pipeline attack
The closure of the Colonial pipeline which runs from the US Gulf to the US East Coast, has caused a spike in oil product tanker rates on trades to and from the region.
Tonne mile demand triples as March witnesses US coarse grain madness
Record high US seaborne exports of coarse grains in March of 9.2 million tonnes took total Q1 exports to 21.3 million tonnes.
April 2021
BIMCO sees Brazil’s iron ore exports up 14.4% in first four months despite disruption scares
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
