Latest Maritime News
April 28-May 12, 2020
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What Have We Learnt From COVID-19 So Far?
The markets, particularly for shipping, oil and stocks, have been highly volatile over the last few months and the news cycle endless. In these times of uncertainty, real time and objective data is critical to understand and take advantage of the ever evolving situation. Below are three thoughts on what we have recently learnt from our data over this time, and one comment on how the world may finally be perceiving cargo shipping in a new positive light.
- Shipping demand can be used to predict the stock markets.
- When it comes to the fate of the Tanker market, politics really does trump oil demand
- Asia, particularly China, is amazingly nimble for a heavyweight
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Oil Prices Fall Due to Oversupply Concerns Amid COVID-19
Oil prices have declined as worries due to persistent supply glut and economic gloom caused by the Coronavirus (COVID-19) outbreak combined to reduce support from output cuts at some major producers.
US West Texas Intermediate (WTI) crude futures fell $0.17, or 0.7%, to $24.57 a barrel, at 0431 GMT, while Brent crude LCOc1 futures were down 29 cents, or 0.9%, to $30.68 a barrel, Reuters reported.
Both Brent and WTI futures witnessed gains over the past two weeks as countries started easing lockdown restrictions.
Investors are concerned that easing of lockdown restrictions by some more countries to support oil prices may bring back Coronavirus infections in northeast China and South Korea.
Continue reading here
(
Source: Offshore Technology)
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Shipbuilding Rebounding After COVID-19
Commercial shipbuilding is showing further signs of recovery as the global community learns to manage during the COVID-19 pandemic. Shipbuilding was one of the many industries hard hit by the spread of the virus with work and supply chains disrupted, new contracts ceased, and existing work was put in jeopardy.
Work is beginning to resume at shipyards that had been impacted by the virus. New projects and contracts are getting underway, including a broad range of individual projects vital to local economies and infrastructure. A number of these types of projects began in recent days
.
Continue reading here
(Source: The Maritime Executive
)
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Container Charter Market Goes 'Boom to Bust' in Just Four Months
Ocean carriers are scrambling to cut costs as the demand for liner services continues to plummet, and the off-hiring of chartered tonnage is top of their agenda.
Hapag-Lloyd chief executive Rolf Habben Jansen said yesterday that the carrier would return a further “small double-digit number” of ships from the 129 it has on time charters.
Representing 40% of its fleet capacity, Hapag-Lloyd’s chartered fleet is relatively low compared with that of several of its carrier peers.
MSC has some 75% of its 556-ship fleet on charter, ONE charters 68% of its 219 vessels and CMA CGM has 62% of its 474 ships on hire
.
Continue reading here
(Source: gCaptain)
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COVID-19 Demand Update: Oil Seen Down 10.9%, Jet Fuel Down 33.6%, Road Fuel Down 11.1% in 2020
Rystad Energy's weekly comprehensive COVID-19 report calculates the effect of the novel Coronavirus in our lives and offers updated estimates for global fuel markets.
As a result of recent developments, with travel restrictions, quarantine obligations and new government policies announced daily around the world, we are making frequent updates to most of our estimates.
Below are some of our forecasts from the just-published ninth edition of the report. Please note that some historical numbers may differ from week to week as governments revise their official figures.
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(Source: Bunker Ports News)
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IMO Endorses New Protocols to Lift Barrier to Crew Changes
The need for ships to change crews and for seafarers to fly home at the end of their periods of service have emerged as two of the biggest challenges facing the shipping industry as a result of the COVID-19 pandemic. Now, IMO Secretary-General Kitack Lim has endorsed a series of protocols designed to address these issues.
Drawn up by a broad cross-section of global industry associations representing various sectors of the maritime transport industry, the protocols set out general measures and procedures designed to ensure that ship crew changes can take place safely during the COVID-19 pandemic.
At their heart is a call that, provided shipping companies broadly comply with and adhere to measures applicable to them, governments and their relevant national authorities should, for their part, do everything possible to allow crew changes to happen.
Continue reading here
(Source: Professional Mariner)
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Current Price Indications
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Clipper Oil offers a weekly update with the latest positions of the high-seas fuel tankers working throughout the Pacific and all other oceans.
To view the latest positions of our high-seas tankers, please click
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.
To be added to our weekly high-seas tanker email distribution list, please click
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Worldwide Wholesalers of Marine Fuels & Lubricants
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USA Headquarters
2040 Harbor Island Drive
Suite 203
San Diego, CA 92101 USA
Tel: +1-619-692-9701
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8 Eu Tong Sen Street
#23-86, The Central
Singapore, 079624
Tel: +65-6646-5367
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bunkers@clipperoil.com
www.clipperoil.com
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