Seafarer pay failing to keep up with inflation
Recent reports have indicated that seafarer salaries are on the rise due to a labour shortage in the industry but the actual numbers behind the rise paint a far more complex picture. Survey results from close to 5,000 seafarers published earlier this month by Danica Crewing Specialists suggested wage increases have occurred this year on […]
How shipping can get its fair share of the best tech grads
Shipping has to revamp its image and look more lucrative and agile in terms of career opportunities and growth if it is going to get the cream of the crop coming from the next generation of tech students. The sector has yet to fully adapt its thinking about future talent needs or positions, as very […]
November 2024 Review
China’s yuan weakened and stock markets on the mainland and Hong Kong fell in the 24 hours following news that Donald Trump will become the 47th president of the United States, likely ushering in another period of trade wars between the world’s two largest economies. Global shipbuilding capacity is set to grow by a percent […]
Tankers underwhelm
As war rages in eastern Europe and the Middle East and as China continues its shadow boxing with Taiwan, voters in the US have made clear their distaste for continuing action as the world’s neocon policeman, voting instead for the America first tariffs and borders policy mix. Mr Trump’s drill baby drill policy promises another […]
Dry bulk fails to deliver
After a painful October, November presented capesize freight traders with some comfort as the C5 time charter average stabilised at $20,999 per day for the month to date after averaging $20,903 in October but falling by 49% over that month. Freight rates on capesizes sailing from Brazil to China added 11% in the first 22 […]
Container crisis deferred until next year
If you track the health of the liner industry by indices such as the Freightos Baltic liner index, then the 9% increase in the global average for moving a 40 foot box, to $ 3,590 as of November 22, looks like all is well. But many analysts fear that the strength of freight rates reflects […]
Analyst Abstract
Dry bulk More than 20 countries pledged no new coal power at COP29, the global environmental summit held this month in Baku. Tellingly, not one signatory hailed from Asia. Asian economies are taking more and more volumes of coal while the West pulls back from the commodity. According to data from AXS Marine, the volume […]
Containers stand out in muted S&P scene
Aside from the container sector where pricing remains firm, other sectors saw sales ease off this month in line with prices finally cooling. In dry bulk, activity picked up slightly in the second half of the month as some sellers elected to bite the bullet, accepting this lower price environment in order to get the […]
Investigating the price ratio between newbuilds and five-year-old ships
At last month’s Maritime CEO Forum in Monaco, John Michael Radziwill, who heads up C Transport Maritime, posited that normally shipping cycles work whereby orders flood in when the price of a five-year-old ship exceeds a newbuild cost. Right now, there’s still a gap, 83% for capes, 85% for panamaxes while supramaxes are at 97%, […]
Port of Melbourne releases sustainability report for 2024
The Port of Melbourne has published its 2024 Sustainability Report, outlining the progress made over the past year. As Australia’s largest general cargo and container port, located at the heart of Melbourne, sustainability is central to the Port’s purpose, strategy, and the achievement of its goals and priorities. In FY24, the Port of Melbourne reached […]