Subscribe for our latest news, straight to your inbox:
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Share this post
This week's chart illustrates the increase in the monthly volume of Ukrainian grain shipments during the first half of this year (left chart), following Russia's withdrawal from the Black Sea Grain Initiative in the summer of 2023. Despite the heightened security risks and logistical challenges, Ukraine has managed to significantly boost its grain exports through alternative routes and increased efficiency.
The data reveal that Spain and China have become the top destinations for Ukrainian grain, each accounting for 20% of the total exports, followed by Egypt with a 10% share (right chart). This diversification of export destinations highlights Ukraine's efforts to maintain its agricultural trade flows amidst geopolitical disruptions.
Per vessel class category, Panamax and Handysize vessels have absorbed a higher percentage of the grain shipments compared to Supramax vessels. The increased utilization of Panamax vessels, which can carry around 60,000 to 80,000 metric tons, and Handysize vessels, typically carrying between 10,000 to 40,000 metric tons, indicates a strategic adaptation to the constraints imposed by the current situation. These vessel classes are more versatile and can navigate alternative routes more efficiently than the larger Supramax vessels.
The third week of July concluded with a notable decline in the Capesize Brazil to North China rates, signaling a shift towards weaker market conditions exacerbated by an increasing number of ballast vessels in the SE Africa region. This rise in ballast vessels suggests a potential oversupply scenario looming ahead. Concurrently, the growth in demand tonne days indicates a subdued weekly percentage increase, indicating a cautious outlook for July, particularly in the larger vessel size segments.
In the grain segment, recent data illustrates a robust uptrend in the monthly volume of Ukrainian grain shipments during the first half of this year, surpassing figures from the same period last year. This growth trend presents promising trading opportunities, particularly benefiting the Handysize vessel size segment.
In the iron ore market, Vale SA’s iron ore production in the second quarter was stronger than expected, driven by robust output at its biggest mine in the north of Brazil. The world’s second-biggest iron ore supplier said the quarter’s performance reinforces its confidence in achieving the upper end of its 2024 production guidance for the steelmaking ingredient.
For subscription to our FREE weekly market trends email, please contact us: research@thesignalgroup.com
-Republishing is allowed with an active link to the source
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
No items found.
Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
.webp){kind=small}
.png)
.png)
.png)
.png)
