Matthew Gore’s Post

As the original wave of container terminal privatisations from the 1990s and 2000s approach the end of their initial terms, Drewry finds that changes in market forces have shifted the risk/reward balance for Port Authorities towards retendering the concession in certain market conditions. However, globally the general preference is to renew or extend with the incumbent operator. Read more at: https://lnkd.in/e5mwxPEU #shipping #ports #portoperations #terminals #containers

Tanker Shipping companies under our coverage have thus far reported strong financial results in 2Q23. Euronav, Teekay Tankers and DHT Holdings reported their results, wherein the TCE revenue of these companies moved up on average by 145.2% YoY on the back of higher TCE rates across vessel classes. Read more at: https://lnkd.in/efAnkVy2 #shipping #maritimeresearch #shippingstocks

The number of container ships transiting the Panama Canal rose in December, despite the total number of transits falling. The latest figures by Drewry Consultants suggests that containerships could be taking an increased number of slots available as other vessel types avoid the water way.

The number of container ships transiting the Panama Canal rose in December, despite the total number of transits falling. The latest figures by Drewry Consultants suggests that containerships could be taking an increased number of slots available as other vessel types avoid the water way.

If you missed this, nice summary on the outlook for the container equipment market from Drewry.

Are there enough containers? An interesting read, based on the latest data and the impact of the Red Sea and Panama Canal disruptions. #containershipping #containers #drewry

Tanker Shipping Financial Insight - October 2023 The tanker shipping companies performed well in 2Q23 and the TCE revenue of the companies under our coverage jumped 96.4% YoY to USD 1,364.3mn from USD 694.6mn in 2Q22 as the companies realised higher TCE rates during the quarter amid favourable market dynamics. Although the average spot rates in 3Q23 on major routes were lower than in 2Q23 due to seasonal weakness, we expect the companies to remain profitable in 3Q23. Read more at: https://lnkd.in/ecwMwejj #shipping #financialresearch #maritimestocks #tankers

The recent rise in reefer shipping rates is expected to prove short lived, as the trade adjusts to the rerouting of vessels and excess containership capacity is deployed to support longer transit times. While the subsequent re-routing of cargoes continues to add some delays and complexity in repositioning reefer equipment, this is not expected to have a long-term effect on freight rates.  Read more at: https://lnkd.in/enD8KTHd #shipping #reefercontainer #refrigeratedtransport #refrigeratedcargo #supplychains #logistics

To explore the route/cost options open to shippers, if a five-year-old traditional Panamax vessel moving on the Colombia-Chile route via the Panama Canal were to switch to an alternative route via the Magellan Strait, voyage costs would increase by a minimum of 34%. Similarly, a vessel currently moving from USG to China would see a 28% rise in costs if it moved through the Cape of Good Hope instead of the Panama Canal. Since each additional waiting day on the traditional route through the canal raises bunker and charter hire costs, we estimate that more than 22 days of waiting time due to congestion will negate the differential between the two routes. Similarly, it would be more economical for shippers to move through the Magellan Strait on the Colombia-Chile route if waiting days are more than 12 in Panama, as voyage costs would breakeven.