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Last Updated: Nov 30, 2022 - 1:33:32 PM |
Business
What do crazy $500,000-per-day rates say about shipping demand?
Ocean shipping demand is traditionally measured in “ton-miles”: volumes multiplied by distance. So, here’s a paradox: Ton-miles for liquefied natural gas shipping have fallen in 2022, because most cargoes from the U.S. are being pulled to war-stricken Europe instead of going longer-haul to Asia. And yet, LNG shipping spot rates have skyrocketed to Guinness Book levels of up to $500,000 per day.
Nov 23, 2022 - 4:35:06 PM
Business
South Africa’s Ivor Ichikowitz: A ‘philanthropic’ arms dealer?
Close to the ANC, South African businessman Ivor Ichikowitz, who founded the Paramount group in 1994, has extended his networks to the rest of the continent as he presents himself as a defender of just causes.
Nov 22, 2022 - 12:50:14 PM
Business
Prime Time for Tankers as Sanctions Hit Russian Oil
Day rates for VLCCs, Suezmaxes and Aframaxes have surged above $100,000 per day, according to Clarksons, and the good times for tanker owners may be just beginning
Nov 22, 2022 - 12:45:34 PM
Business
Low ocean shipping rates here to stay as overcapacity looms
Carrier expectations of a rule-enforced ship-scrapping bonanza – and capacity reduction of around 10% – are “overblown”, according to consultant Alphaliner
Nov 20, 2022 - 12:21:26 PM
Business
Russia’s Defense Industry Growing Increasingly Turbulent
Moscow has actively tried to restore at least part of its arms lost in Ukraine after almost nine months of its bloody war.
Nov 19, 2022 - 4:36:34 PM
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