*VLCC Hopes Dwindle* Looking at the paper TD3C, last week, saw a market that started badly, weakening as each day progressed. The lengthening of the list combined with no real enquiry or demand saw rates continue to slide with no apparent immediate solution. Spot has slipped below WS30 for the first time in around …
Tag archives: WF
Gone With the Wind – Ship Shape Commodity Weekly
Dominating the news this week has not been the hopeless story of a Southern girl’s love for a married man, but rather the twin storms in the Gulf of Mexico. The bluster behind this story left oil and tanker markets in a spin with impending disruption and shutdowns. As of late Thursday, Hurricane Laura …
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Tanker News Update 26/8/20
*Houston we have a Problem With Hurricane season well underway, the Gulf of Mexico is under threat from a double hit, with both Marco and Laura over the weekend, having the potential to turn into a fully-fledged hurricane. Fortunately for Texas and Louisiana Marco didn’t reach the required 75mph wind speed to class as …
Tanker News Update 19/8/20
*Pirates of the Middle Eastern Gulf The United Nations Convention for the Law of the Sea (UNCLOS) defines piracy as: (a) any illegal acts of violence or detention, or any act of depredation, committed for private ends by the crew or the passengers of a private ship or a private aircraft, and directed- …
Tanker News Update 14/8/20
*Tanker Traffic As mentioned around the turn of the month after suffering the worst rainfall in 100 years, Chinese ports are still flooded, but now with over 40 VLCCs. The current figure stands at 83 tankers in waiting, though peaked early last week at 91, with a 2019-built 320dwt siting in Qingdao for two months. …
FIS CASTAWAY – EPISODE 19
What is going on with this iron ore market? How come freight is flying again? Why is nothing moving on oil? Memes aside, join the team to discuss the week’s movements and idiosyncrasies. Available now on the FIS website (www.freightinvestorservices.com/media ) Spotify https://open.spotify.com/show/7yMLsm5s8tLtrCQr7bG8wD?si=FW6Rvj9HRjClAx3vRjq8iw And Apple https://podcasts.apple.com/sg/podcast/fis-castaway/id1507094242 Disclaimer: This podcast is a marketing communication and is not based upon …
Secret Iranian Oil
China and Iran recently signed a 25-year trade deal not surprising given that one is a major OPEC producer and the other one of the world’s largest importers of crude. The deal is worth $400billion, including oil quotas and gives China ‘first dibs’ on Iran’s exports. This would produce a large trade flow from …
Ship Shape – FIS Commodity Weekly 31/07/20
Ouch Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you didn’t come last in the 38,000-person London Marathon, you came second last. That kind of incredible fall is the reason for the huge drops in demand for …
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FIS CASTAWAY – EPISODE 18
This week geopolitics takes centre stage as the team discuss escalating China-US tensions weighing on markets, along with outlining current market trends in all of FIS’s markets. Available now on the FIS website (www.freightinvestorservices.com/media ) Spotify https://open.spotify.com/show/7yMLsm5s8tLtrCQr7bG8wD?si=FW6Rvj9HRjClAx3vRjq8iw And Apple https://podcasts.apple.com/sg/podcast/fis-castaway/id1507094242 Disclaimer: This podcast is a marketing communication and is not based upon detailed analysis …
Tanker News Update 29/7/20
*Chinese Flooding China is currently experiencing its worst floods in 100 years with record rainfall levels since June. Areas straddling the Yangtze river banks are at risk of severe flooding if they haven’t already. Sinopec owns multiple refineries along the river so increased rainfall could cause serious issues. Potentially manifesting into catastrophic issues if the …