Tanker capacity for diesel is already tight amid war fallout. With very few ships on order, future transport capacity could fall short.
Quarterly net losses could be around the corner for container lines, but EBITDA will stay high even if carriers dip into the red.
With virtually no new ships on order and demand strengthening, the tanker business seems poised for a bull run.
Shipping lines like Hapag-Lloyd have suffered sharp rate falls from the peak, but they’re nowhere near financial distress.
Charter rates are far below the peak but higher than pre-COVID as liners continue to sign new container-ship leases.
The Baltic Dry Index has fallen 91% since October 2021 to one of its lowest levels ever, yet shipowners remain confident.
The reversion in spot rates is pulling down contract rates, with a significantly delayed effect on ocean carrier earnings.
Russian crude restrictions are having the predicted effect on tanker trades, soaking up more vessel capacity as sailing distance lengthens.
Are falling commodity shipping spot rates the result of normal seasonality or a symptom of global economic malaise?
Sanctions on Russian crude exports have yet to boost tanker rates. Some question whether sanctions on Russian diesel will either.
