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Tankers: VLCC Market Down Last Week

Clean LR2 LR freight levels in the MEG continued downward this week. The 75kt MEG/Japan TC1 index shed 54.44 points to WS190.56. The 90kt MEG/UK-Continent TC20 trip to the UK-Continent steadily came down from $6.12 million to $5.06 million. West of Suez, Mediterranean/East LR2’s remained level all week with little open market activity. The TC15 …

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Reefer shipping rates rise to be temporary as excess capacity plugs gaps

The recent rise in reefer shipping rates is expected to prove short lived, as the trade adjusts to the rerouting of vessels and excess containership capacity is deployed to support longer transit times. While the subsequent re-routing of cargoes continues to add some delays and complexity in repositioning reefer equipment, this is not expected to …

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Suez Canal shipping volumes drop 55% in a week as Red Sea crisis continues

Shipping volumes through the Suez Canal more than halved last week, while volumes on the alternative route around the Cape of Good Hope surged, as attacks by Houthi rebels on commercial vessels force major operators to divert away from the key global trade artery. Egypt’s Suez Canal shipping volumes in the week ending February 13 …

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