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Multipurpose vessel charter rates surpass 2008 peak with further to go

Multipurpose vessel charter rates surpass 2008 peak with further to go


12 Jul 2021


The continued easing of lockdown restrictions across the globe, combined with the capacity constraints in other sectors, mean that charter hire rates for the multipurpose and heavylift fleet are expected to continue to rise from their current peak for the remainder of the year, according to Drewry’s Multipurpose Shipping Forecaster.

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Who wants to be a (multi) billionaire?

Who wants to be a (multi) billionaire?


05 Jul 2021


05 Jul 21: Drewry’s latest Container Forecaster report includes a relatively small forecast increase for world port throughput in 2021-22 but huge upgrades for freight rates and carrier profits over the same period as the market faces an extended period of under supply.

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Methanol - a bright future as a marine fuel

Methanol - a bright future as a marine fuel


30 Jun 2021


30 June 2021: Drewry believes methanol can play a major role in meeting the IMO’s emissions reduction targets for the maritime sector for 2030 and zero-emission targets for 2050.

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Asia's summer, Europe's winter create explosion in LNG market

Asia's summer, Europe's winter create explosion in LNG market


29 Jun 2021


29 June 2021: The current LNG market scenario with high LNG demand in Asia and low storages in Europe indicates a ’summer with all attributes of winter’. The statement holds weight with spot LNG prices seven times higher than in 2020 while LNG shipping rates have doubled in June 2021 from last year.

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LPG Shipping Stocks - What lies ahead?

LPG Shipping Stocks - What lies ahead?


18 Jun 2021


The year 2021 has been volatile for the LPG shipping industry. VLGC rates hit a peak at USD 110,000pd in January but soon nosedived by more than 90% in February, with charter rates on the key AG-Japan route touching USD 6,000pd. The wild swings after subsiding in March-April resumed again in May.

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News

Officer shortfall to reach decade high by 2026

Officer shortfall to reach decade high by 2026
02 June 2021: Diminishing attractiveness of a career at sea, coupled with rising man-berth ratios and continued fleet growth will lead to the highest shortfall of officers to crew the world’s merchant fleet in over a decade by 2026, with important implications for both hiring and future manning cost inflation, according to Drewry’s latest Manning Annual Review and Forecast.

Reefer container freight rates soar but remain outgunned by dry box rates

Reefer container freight rates have risen sharply this year but remain far outgunned by the inexorable rise in dry box pricing, according to Drewry’s newly launched Reefer Shipping Forecaster report.

Drewry and Freightender partner to bring all-in-one ocean freight procurement e-solution to medium sized shippers

Drewry and Freightender announce they have entered a value-add partnership, combining Drewry’s industry leading ocean freight cost benchmarking and procurement support services with Freightender’s cloud-based, next generation procurement technology platform.

Multipurpose earnings rally at risk from overordering in competing sectors

The rapid recovery in earnings for multipurpose vessels is expected to slow from the second half the year as capacity constraints and supply chain disruptions in competing sectors ease, according to Drewry’s latest Multipurpose Annual.