Container service reliability across the three main East-West trades reached a new data series high in September, rising by 6.5 percentage points over August to the new record of 79.9 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.
Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain, according to the latest Container Forecaster report published by global shipping consultancy Drewry.
Ocean freight rates for cargo moving under contracts on the major East-West routes have seen a sharp reduction since the beginning of the year, according to Drewry's Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates.
The dry bulk shipping market will remain in recession due to contracting demand for iron ore and coal, and any recovery is not expected until 2017, according to the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
The product tanker market has enjoyed healthy returns in recent years on the back of structural changes taking place in trading patterns. However, impending fleet growth is expected to reduce the sector's earnings over the medium term, according to the Product Tanker Market Annual Report 2015 published by global shipping consultancy Drewry.
Rising global container port demand and ever larger vessels are driving terminal operators to make significant investments in additional capacity, according to the Global Container Terminal Operators Annual Report 2015 published by global shipping consultancy Drewry.
Breaking a run of six consecutive months of improvement, container service reliability across the three main East-West trades declined in July, falling by 4.0 percentage points from June to 73.3 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.
LNG carrier freight rates have come under severe pressure due to rising fleet supply and stabilising LNG demand, as Japan prepares to restart its nuclear power plants. Despite the general market belief that new LNG supply from Australian projects will provide ample employment to the growing fleet, there are immediate challenges on freight rates. This is due to 49 million tonnes per annum (mtpa) of Australian LNG cargo supply expected to hit the market over the next two years, according to the newly launched LNG Forecaster report published by global shipping consultancy Drewry.
A surge in crude tanker vessel capacity over the next two years will lead to a fall in ship-owner earnings from current highs, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.
The chemical tanker shipping market has been strongly supported by specialised trades and clean petroleum products (CPP) demand during the second quarter of the year. Although many newbuildings were delivered, the market has been able to absorb the extra tonnage, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.
