(Drewry) - Many key drivers for dry cargo demand have reported a significant uptick in 2017, resulting in improving conditions for all vessels in the multipurpose shipping sector, according to the latest Multipurpose Shipping Market Review and Forecast report published by global shipping consultancy Drewry. This year started out well with most demand drivers for the … [Read more...]
Container Lines Praised for Capacity Management Skills
By Mike Wackett (The Loadstar) - Ocean carriers have this year shown themselves to be “well-skilled” in the art of capacity management, according to a Drewry report. It attributes their success in lifting rates to their ability to juggle supply-demand peaks and troughs. Drewry’s Global Freight Rate Index was 37% higher in the first five months of this year than in the … [Read more...]
Drewry: Scrapping to Determine Pace of Recovery for Tanker Shipping Market
(Drewry) - Recovery in the crude tanker shipping market is not expected until 2020 as weak trade growth and a bloated orderbook limit any rate recovery. But the timing of any market upturn will be heavily influenced by the level of scrapping, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry. The ongoing overcapacity in … [Read more...]
Survey Says, Shippers Want Partnership With Carriers
By Gavin van Marle (TheLoadstar) Shippers would prefer to be treated by container lines as partners rather than customers, according to a new survey. Shippers want to be partners with carriershe European Shippers’ Council (ESC) and logistics consultancy Drewry Supply Chain Advisors jointly surveyed hundreds of shippers around the world on series of 16 service attributes and … [Read more...]
Drewry: Light at the End of the Tunnel for the Multipurpose Shipping Market
(Drewry) - Following another poor year for multipurpose shipping with further erosion of rates making it the worst market in over 10 years, signs of recovery are now evident with momentum expected to build over the next few years, according to the latest Multipurpose Shipping Market Annual Review and Forecast 2017 report published by global shipping consultancy … [Read more...]
Spot freight Rates Soar on Backhaul North Europe to Asia Route
Spot container freight rates from North Europe to China increased by 45% this week, reaching a four-year high, according to the shipping consultancy Drewry. The “World Container Index assessed by Drewry” market reading on the route from Rotterdam to Shanghai jumped to $1,076 per 40ft dry container today, from $740 last week. “Our sources reported that ships are currently … [Read more...]
Drewry: Market Conditions Force Down Ship Operating Costs
(Drewry) - The cost of operating cargo ships has fallen for two successive years but is forecast to rise in 2017 and beyond, according to the latest Ship Operating Costs Annual Review and Forecast 2016/17 report published by global shipping consultancy Drewry. 2016 was another very difficult year for most shipowners and operators. Weak freight rates, declining asset values, … [Read more...]