hellenicshippingnews..., Author at Russia Trading

Tankers and a Long-Term Hormuz Strait Disruption: Is Selective Access Here to Stay?

hellenicshippingnews... — Thu, 02 Apr 2026 21:00:59 +0000

The pressure on the oil and shipping markets from the Hormuz Strait situation could very well remain, long after the war in Iran ends. In its latest weekly report, shipbroker Xclusiv said that “the Strait of Hormuz is no longer simply a chokepoint. It is gradually being reshaped into a controlled corridor where access is conditional, selective, and increasingly political. What began as a wartime disruption is now evolving into a structural shift, with Iran attempting to formalise its influence over one of the most critical arteries of global energy trade. The introduction of an “approved passage” system, whether through formal coordination, diplomatic channels, or reportedly even financial arrangements, signals a transition from disruption to governance, albeit one that challenges long-standing norms of free navigation”.

Source: Xclusiv

According to Xclusiv, “traffic data already illustrates the scale of the shock. Transits have collapsed, and what little activity remains is heavily skewed towards “non-hostile” nations. Asian-linked flows dominate, while Western-linked cargoes are effectively absent, reinforcing a fragmentation of global trade routes along…

Dry Bulk Carriers and Containers Domination Newbuilding Orders

hellenicshippingnews... — Tue, 03 Mar 2026 22:00:59 +0000

More dry bulk newbuilding orders have been placed this week, with Greek owners not shy of contracting more ships. In its latest weekly report, shipbroker Banchero Costa said that “in the bulk sector, Japan’s Imabari shipyard secured an order for 2 x 181,500 dwt capesize vessels from Greek-owner Navios Maritme. The price for each vessel is $67.1 mln and the duo will be delivered Q4 2029. In the tanker sector, UK-based Zodiac Maritime placed an order of 1 x 157,200 dwt suezmax to PVSM Vietnam. The price for the vessel is $78.67 mln and delivery is scheduled for January 2027. South Korean company Woolim Shipping placed an order of 3 x 13,000 dwt tankers to K Shipbuilding in Korea. The price for each vessel is $30 mln and deliveries iwll span from Q3 2027 until Q3 2028. In the container sector, Hong Kong’s Manqiang Shipping placed an order of 4 x 1,900 teu carriers to Yangzijiang Shipyard in China. The price for each vessel is $29.5 mln and delivereis will span from June 2028 until April 2029”.

Source: Banchero Costa

Meanwhile, in a separate note, shipbroker Xclusiv said that in the S&P market, “this week’s dry bulk activity was spread across all sizes, with…

Tanker Market is Dominated by Geopolitics

hellenicshippingnews... — Sun, 01 Feb 2026 22:00:59 +0000

The tanker markets have been shaped by geopolitics over the past year, more so than …trivial things like supply and demand. In its latest weekly report, shipbroker Gibson commented that “geopolitical developments dominated tanker markets last year, with a wave of sanctions primarily targeting Russia, secondary measures aimed at entities trading Russian and Iranian crude, the brief Israel-Iran conflict, Trump’s inauguration, US trade wars, and the US-China port-fee standoff among the key events. So far, this year is proving just as “eventful” as 2025”.

According to Gibson, “recent developments in Venezuela have come as a major surprise, triggering a sharp reset in the country’s crude flows. Exports have shifted away from Chinese independent refiners operating via dark tonnage towards mainstream vessels, with most volumes for now remaining within the Atlantic Basin. While the picture is still evolving, initial barrels are likely to be directed mainly towards the US market. This has already contributed towards a sharp rally in Aframax rates, which reached multi-year highs in recent weeks”.

“Tensions surrounding Iran are also re-igniting. Although…

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Dry Bulk Shipping to Gain Momentum in 2026 If Peace is to Prevail

hellenicshippingnews... — Wed, 31 Dec 2025 22:00:59 +0000

A peace agreement between Russia and Ukraine, however challenging, could offer significant momentum in the dry bulk shipping market, besides its obvious humanitarian benefits. In its latest weekly report, shipbroker Intermodal said that “while the war in Ukraine remains unresolved, any meaningful de-escalation arising from ongoing peace discussions would extend well beyond energy markets and materially reshape Ukraine’s grain export landscape. Indeed, the latest U.S.-backed peace discussions involving Ukrainian, European and Russian representatives signal that a negotiating track is at least active again, even if the outcome remains uncertain. For shipping, that matters because the biggest swing factor for Ukrainian corn and wheat is no longer agronomy alone, it is the cost, reliability and scalability of the export route map”.

According to Mr. Yiannis Parganas, Head of Research Department with Intermodal, “USDA’s December WASDE keeps Ukraine firmly positioned as a relevant supplier, but trims expectations. Ukraine’s coarse grain exports are pegged at 25.5 MMT (down from 27.59 MMT the month before) on a lower production outlook (35.58 MMT vs 38.58 MMT…

Slow Activity for the Ship Recycling Market

hellenicshippingnews... — Wed, 03 Dec 2025 22:00:59 +0000

The ship recycling market is still seeing sub par levels of activity. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the Indian market remains cautious this week as persistent and unpredictable dollar fluctuations continue to affect local sentiment, keeping buyers hesitant. Purchasing interest for new units, particularly larger vessels, remains limited, with negotiations becoming increasingly difficult under current currency volatility. Two new sales appear to have been concluded; however, most of the tonnage being circulated still consists of sanctioned or “dark fleet” vessels. Overall, buyers continue to proceed carefully, preferring further clarity on the dollar before committing to additional tonnage”.

Meanwhile, in Bangladesh, “market conditions have weakened sharply, with local buyers remaining extremely cautious amid tightening liquidity in the money market. Several newly built green-recycling yards have halted operations due to the absence of incoming vessels, while many existing compliant facilities remain down or fully occupied. A notable gap persists between melting scrap and plate prices, further…

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Tankers: China’s Crude Import Policy and Strategy

hellenicshippingnews... — Thu, 23 Oct 2025 21:00:59 +0000

The seaborne crude oil trade routes are constantly evolving and China is at the center of things. In its latest report, shipbroker Xclusiv said that “analysing trade flow data from Signal Ocean Platform, it is noted that year to date, China imported approximately 362.2 million tonnes of crude oil, excluding volumes from countries under international sanctions such as Venezuela, Russia, and Iran. The figures underscore a continued recovery in Chinese crude demand, supported by resilient industrial activity and robust refining margins. Saudi Arabia retained its position as China’s leading crude supplier, contributing 16.6% of total imports, followed by Iraq (13.9%) and Brazil (9.8%). The diversification of supply sources highlights China’s strategic effort to balance its import mix between the Middle East and emerging producers in Latin America. For comparison, during the same period in 2024, China imported 335.5 million tonnes of crude—an 8% year-on-year increase in 2025”.

According to the shipbroker, “Saudi Arabia also led supplies last year with a 17.1% share, trailed by Iraq (14.6%) and Oman (8.6%). The slight decline in Saudi Arabia’s market share this…

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Dry Bulkers in High Demand

hellenicshippingnews... — Tue, 23 Sep 2025 21:00:59 +0000

Demand for second hand dry bulk carriers was quite high last week. In its latest weekly report, shipbroker Xclusiv said that “the dry S&P activity was strong this week, with the Ultramax/Supramax sector taking the lion’s share, as almost half of the sales were in that segment. On the Newcastlemax sector, the “Mineral Cloudbreak” – 205K/2012 HHIC was sold to Hong Kong buyers for USD 39 mills, while the Capesize “Wakayama Maru” – 182K/2013 Koyo was sold to clients of Asyad for USD 37 mills. On the Kamsarmax sector, the “Nord Taurus” – 82K/2016 Imabari changed hands for USD 27.5 mills. Moreover, the Panamax “Alpha Loyalty” – 76K/2007 Tsuneishi was sold to Chinese buyers for USD 10.25 mills basis DD due, while the “Eirini P.” – 77K/2004 Tsuneishi found new owners for USD 8.5 mills. On the Ultramax sector, the “CMB Teniers” – 63K/2021 Shin Kasado and the “CMB Van Dijck” – 63K/2020 Shin Kasado were sold to clients of HMM for excess USD 65 mills. Moreover, on the same sector, the Scrubber fitted “Elizabeth M II” – 63K/2020 Nantong Xiangyu changed hands for USD 30 mills, while the Electronic M/E “Bulk Castor” – 67K/2015…

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Tankers: Is a return to normal on the Cards?

hellenicshippingnews... — Sun, 24 Aug 2025 21:00:59 +0000

A potential peace in Ukraine could, in theory, return the tanker market to some sort of normalncy. In its latest weekly report, shipbroker Gibson said that “tanker tonne miles (crude/DPP/CPP) grew 5.4% in 2022 following the invasion and by 7.2% in 2023 after the implementation of the European/US embargo on Russian oil and oil price cap framework. Whilst not all of this growth was attributable to the war, the majority was, particularly in 2023. Tonne mile growth has since slowed, gaining just 1% in 2024, and contracting 4% for the year to date”.

However, “it remains heavily debated whether trade flows might return to “normal” in the event of a peace deal. The current leaders of the UK, France, and Germany, as well as the Baltic and other EU States might try particularly hard to prevent a swing back to Russian energy trade, especially in the event of a “bad deal” for Ukraine. Yet, with President Trump effectively ruling out Russia giving up all its territorial gains, as well as Ukraine joining NATO, concessions appear to already be on the table. If it is assumed that any deal is likely to involve sanctions relief, then some normalization in trade flows is…

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LPG Shipping: China’s Imports Steady Through the Year

hellenicshippingnews... — Fri, 25 Jul 2025 21:00:59 +0000

LPG imports from China, the world’s leading importer have been marginally higher so far in 2025. In its latest weekly report, shipbroker Banchero Costa said that “global LPG (liquified petroleum gas) trade has been steadily recovering in the past three years, following a very disappointing 2021. Total seaborne exports of LPG in JanDec 2024 increased by +4.4% y-o-y to 148.9 mln tonnes, according to vessel tracking data from LSEG. This follows the +2.4% y-o-y growth recorded in 2023, and the +4.4% y-oy growth in 2022. The first 6 months of 2025 have been even better, with global loadings increasing by +6.6% y-o-y to 77.3 mln tonnes, from 72.5 mln t in the same period of 2024. In Jan-Jun 2025, LPG exports from the USA increased a very healthy +8.2% y-o-y to 34.9 mln tonnes. The USA now account for 45.1% of global LPG exports. LPG exports from the GCC declined by -4.9% y-o-y in Jan-Jun 2025 to 18.4 mln tonnes. This included 6.8 mln tonnes from the UAE, 4.9 mln t from Qatar, 3.1 mln t from Saudi Arabia, 2.9 mln t from Kuwait, 0.5 mln t from Oman. Shipments from the GCC accounted for 23.8% of global exports. Exports from Iran surged by +36.6% y-o-y to 4.7 mln tonnes, and…

Ship Recycling Market Subdued Again

hellenicshippingnews... — Wed, 25 Jun 2025 21:00:59 +0000

The ship recycling market is trying to find a renewed sense of footing, as the transition towards HKC-compliance is underway, while geopolitical tensions flared once more, negatively impacting the market. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “this week offered little change across key ship recycling markets, with conditions remaining largely flat and sentiment subdued. Seasonal pressures in India continued to weigh on activity, as the advancing monsoon dampens steel demand, keeping end users on the sidelines. No improvement in market tone has been observed, and outlooks remain pessimistic in the short term. Bangladesh remains inactive as buyers wait for the 26th June enforcement of the Hong Kong Convention.

Source: Best Oasis

Only a limited number of HKC-compliant yards are available, and all are currently occupied with previous tonnage. With no capacity to take new vessels, the market is expected to stay quiet until the second half of next month. In Pakistan, activity remains limited as recyclers take a wait-andwatch approach despite temporary regulatory allowances for non-HKC-compliant transactions….

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