SSY Market Review - Shipping, Commodities and Energy

Sep 16 2021


The latest SSY market report - which includes comprehensive insight and analysis on shipping, commodities and energy markets.

Highlights include: 

 

* August was the strongest month for the Baltic Exchange Dry Index since 2010, and
September is poised to see an even higher monthly average, if current firm levels can be maintained.

 

* Oil tanker newbuild ordering (of 10,000 dwt and above and excluding chemical tankers) started 2021 strongly, with 11M dwt ordered across 1Q21, up 3.63M dwt y-o-y.

 

* While crude tanker rates remained weak in August, the majority of markets have recovered slightly from the lows seen in July, with easing bunker prices providing some relief to earnings.

 

* Chemicals | It was another frustrating month in the US. Strong domestic demand and a shortage of product to export meant another month in which owners struggled to fill their ships.

 

* August as a month saw the LNG market feel very subdued on a prompt basis, which notably less spot fixtures than in July.

 

* It has been another active month in the dry bulk sale and purchase market with a continued level of activity being conducted despite the normally slower summer months.

 

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Sea Cargo Charter - ship recycling - CO2 from tank cleaning - fixing damaged propeller blades