Covid-19 has had a major impact on global energy markets, and a range of knock-on effects across the shipping industry. The offshore sector has been hit hard, and now faces its third downturn in just over a decade. The offshore markets are diverse and impacts have varied, and our Offshore Market Impact Tracker has been providing regular updates on indicators tracking the key developments.

For the full version of this article, please go to Shipping Intelligence Network.

The containership sector has long been one of the key areas of vessel “upsizing” in the world fleet, and 2020 so far has seen some new “landmarks”, with larger units than ever before sold for recycling. Vessels recently sold for scrap were once considered to be the “megaships” of their day, which highlights the extent to which things can change as time passes…

For the full version of this article, please go to Shipping Intelligence Network.

 

In challenging and volatile times such as the current Covid-19 crisis, tracking the shipping market im-pacts is crucial. Previous Analysis features have referred to “near-time” data, and statistics such as daily port call counts have helped monitor the health of shipping “activity”. Estimating seaborne trade flows on a more “current” basis can provide another helpful perspective.

For the full version of this article, please go to Shipping Intelligence Network.

Covid-19 has been a tough blow to the offshore sector. The sector has had a difficult last half decade, with the boom-times of >$100/bbl oil receding into the rear-view mirror. Although utilisation and dayrate levels began to tick up in 2019, the outlook was significantly weakened by Covid-19. Tracking the key indicators on how offshore markets are developing will be important as the downturn plays out.

For the full version of this article, please go to Offshore Intelligence Network.

In last year’s annual review, we profiled a strong expansion phase for the LNG market (12% trade growth in 2019). But this is also an industry with a long “stop-start” history and it looks like 2020 (driven by both Covid-19 and some pre-Covid drivers) will see recent growth stall. Despite these challenges, there remains encouraging long term growth potential and increasing opportunities from the bunkering market.

For the full version of this article, please go to Shipping Intelligence Network.

It has been reported in recent weeks that the first half of 2020 represented the lowest order volumes for the shipbuilding industry in over 25 years. In this week’s Analysis we look at the limited activity in more detail, the different units of measurement involved, previous order “droughts”, Covid-19 disruption and the outlook for an industry well used to “wild” swings in demand.

For the full version of this article, please go to Shipping Intelligence Network.

 

Covid-19 has led to a major “shock” to the shipping markets, and tracking the impacts has brought a range of metrics, including new “near-term” data, into close focus (see our Shipping Market Impact Tracker on SIN). One statistic, however, which has not received quite so much attention this year has been average vessel speed, but with half of the year completed it’s a good time for an update.

For the full version of this article, please go to Shipping Intelligence Network.

In these extraordinary times, the cancellation of school exams has been one of many unprecedented events. As we examine performance in our half year report, this is not an option for the shipping industry as it battles through the many challenges (and some upside) that Covid-19 has brought: a severe 5.6% drop in seaborne trade; a 10% drop in port activity; sharp declines in demolition and newbuild ordering.

For the full version of this article, please go to Shipping Intelligence Network.

Relations between the US and China have been back in the headlines recently, with tensions seemingly on the rise once more. For the shipping industry, the US-China ‘trade war’ was one of the key issues of 2018-19, and the ‘phase one’ trade deal in early 2020 was an encouraging sign that US-China trade could pick up. But with Covid-19 dominating trends in the year to date, how have volumes fared so far?

For the full version of this article, please go to Shipping Intelligence Network.

 

The Covid-19 pandemic has led to disruption across almost every sector of the shipping industry, and in this week’s Analysis we look at impacts in the ship repair market. After a positive 2019, yard closures, logistical difficulties and survey deferrals have all impacted activity levels while scrubber retrofitting has also declined sharply. Despite the immediate challenges, longer term prospects may be more positive.

For the full version of this article, please go to Shipping Intelligence Network.