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Shipping Decarbonization Weekly Insights
Latest Trends
Renewable-based power systems, backed by grid balancing engines and energy storage, can enable Southeast Asian countries to reach net zero by mid-century whilst cutting the levelized cost of electricity (LCOE) by over 20%, when taking into account likely future carbon taxes, according to technology group Wärtsilä.
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Signal Dry Bulk Weekly Report
Snapshot of Spot Freight Rates, Supply-Demand Trends, Port Congestions
At the beginning of the third week of September, the picture of freight rates in the Capesize segment has strengthened, while the percentage increase in demand in ton-days is increasing and the number of ships sailing ballast is falling below the annual average trend.
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Commodities Edge Higher As The Market Braces For Further Rate Hikes
More steel-heavy construction work
Appetite for riskier assets remained weak ahead of the FOMC meeting on Wednesday.
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Key Takeaways From Energy Day At Vortexa Innovation Week
Top talking points
On the crude oil supply side, there was wide agreement that the market is now much looser than it was in H1 2022, and forward views suggested that 2023 may be on the long side.
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The Shipfix Blog: Is The Capesize Recovery Sustainable?
Higher freight rates in the short term
Under normal circumstances, a three-quarter gain in freight rates for the Panamaxes during the first half of September would have been considered a sterling performance for the tonnage segment and dominated the headlines.
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More Improvement In China
China’s steel output has now risen to the highest level
In our Weekly Dry Bulk Report published two weeks ago, we highlighted how China’s iron ore port stockpiles finally fell after previously rising for ten straight weeks, and also highlighted how steel production in China continues to rise.
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China’s Comeback Lifts VLCCs, Recent Announcements Signal Good Omens
Surge on rates
China’s rebound in purchasing amid a much more ample global crude market lifts VLCC rates across all fronts, with much higher anticipated clean product exports from China, additional US SPR releases and imminent peak winter demand all pointing to a sustainable demand for crude tanker owners for the remainder of the year.
Metals Gain As Supply Issues Offset Demand Concerns
Iron ore gained amid signs of increasing construction activity in China
Commodity markets shrugged off interest rate hikes by central banks to focus on supply side issues.
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