World News
ICS Warns Over New Tonnage Orders
Masamichi Morooka, the Chairman of the International Chamber of Shipping (ICS), has warned shipowners over ordering new tonnage, saying that they should consider the health of the entire industry and not just their individual needs.
Speaking to delegates at the Nor-Shipping event in Oslo earlier this week, he said it was important that shipowners "take sensible and considered decisions" about ordering new tonnage so they do not further contribute to the existing problems of oversupply across the industry.
Noting that shipyards have similar capacity problems and are offering cut price ships, he remarked: "What might be in the rational interest of an individual shipowner might not always be good for the collective health of the industry as a whole."
Braemer Seascope has predicted that 2013 will be the biggest year ever for containership deliveries, and since last year industry observers have raised concerns that the trend towards more fuel-efficient vessels is only adding to the problems of oversupply.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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