Red Sea tensions drive down WAF Suezmax rates, disrupt Persian Gulf trade flows

Disruption in the Red Sea has led to an influx of westward ballasters into the Atlantic region from the Persian Gulf, which has in turn played a major part in driving down freight rates for Suezmax voyages loading in West Africa, according to sources. Platts, part of S&P Global Commodity Insights, assessed the freight rate …

Red Sea tensions drive down WAF Suezmax rates, disrupt Persian Gulf trade flows Read More »

A significant drop in the number of steel and energy cargoes crossing Suez from the Far East to Mediterranean

The second week of February began with a rebound in the Baltic Capesize Index, surpassing the 2,000 points mark, one of the highest points seen in the last two weeks. Meanwhile, smaller vessel size categories continued to trend downward. It remains to be seen whether there will be sustained firmness in the market just a …

A significant drop in the number of steel and energy cargoes crossing Suez from the Far East to Mediterranean Read More »

Container market grows a modest 0.2% y/y in 2023 as the fleet swells

“In 2023, the container market grew 0.2% year-on-year, ending at 173.8 million TEU. Compared to 2019, before the COVID pandemic hit, the market grew 1.5%. Container market growth has lagged behind overall economic development significantly, as the world economy has grown 10% since 2019,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO. Highlighting the challenge …

Container market grows a modest 0.2% y/y in 2023 as the fleet swells Read More »

Scroll to Top