Container Shipping Market Overview & Outlook September 2024
LONDON : The disruption caused by ships being rerouted via the Cape of Good Hope remains the key ship demand driver. As a result, ship demand is forecast to grow three times faster than
Strong Dry Bulk market fuels 42% drop in ship recycling
LONDON : “Between January and August 2024, the number of recycled ships has dropped 42% y/y, the second lowest level in 16 years. The market has seen high freight rates and strong demand, delaying
Coal shipments to India jump 10%, but growth could slow : BIMCO
LONDON : “Between January and August 2024, coal shipments to India rose 10% y/y, outpacing an 8% y/y increase in domestic coal mining. Thermal coal shipments were a key driver, supported by strong electricity
Product tanker contracting hits 18-year high after 17% rise year on year
LONDON : “During the first seven months of this year, 194 product tankers larger than 10k deadweight tonnes (DWT) have been contracted with a combined capacity of 13.3m DWT. This is a 17% increase
US grain exports seen rising 12%, but sailing distances could shorten : BIMCO
LONDON : “In 2024, grain exports from the US are expected to rise 12% from 2023, driven by a rebound in maize shipments. During the first seven months of 2024, shipments have risen 6%
India’s crude oil imports from Russia surge 1000%
NEW DELHI : India now sources 40% of its crude oil imports from Russia, with year-to-date volumes averaging 1.6 million barrels per day (mbpd), according to BIMCO. This marks a staggering 1000% increase compared to
India now depends on Russia for 40% of its crude oil imports : BIMCO
LONDON : “During the past three months, India has relied on Russia for 40% of its seaborne crude oil import. Year-to-date, volumes have reached an average of 1.6 million barrels per day (mbpd), an
Container ship fleet expands by 11%, fastest growth in 15 years : BIMCO
LONDON : “Since the beginning of the year, the capacity of the container ship fleet has increased by 1.6m TEU. Compared to one year ago, the capacity has risen 11% to 29.5m TEU, the
