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Greg Miller Profile
Greg Miller

@GMJournalist

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Senior reporter at Lloyd's List covering #containers , #tankers , #drybulk , #shipping .

New York, NY
Joined December 2014
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@GMJournalist
Greg Miller
7 months
Hey all, today is my last day at @FreightWaves . Thanks to all my followers for their support through the years. I may not be posting #shipping stories for a bit, but I’m sure I’ll find a new platform (or platforms) to write for soon enough. I’ll be back.
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@GMJournalist
Greg Miller
4 years
Floating #oil storage is far from dead in the water. It's still building. Should still be building thru June + 6-12 mo to unwind & get all #tankers back to trading. See story for $EURN $INSW call quotes (incl. more criticism RE: inflated rate reporting):
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@GMJournalist
Greg Miller
3 years
Sounding like a broken record...but here are even more indicators showing no letup in trans-Pac container #shipping bottleneck. Multiple companies with different data sources all show same trend: it’s getting worse. #containers @flexport @freightos $ZIM
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@GMJournalist
Greg Miller
2 years
As of today, there are just as many container ships waiting off North American ports as there were during the previous congestion peak in Jan-Feb, with the latest surge driven by rising queues off East/Gulf Coast ports. See story #shipping #containers $ZIM
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@GMJournalist
Greg Miller
4 years
If you’re long #tankers , today’s $DSSI call was a sobering listen. CEO Craig Stevenson is a true veteran of this business and he is now openly talking about “weathering the storm.” A lot of info in this call’s Q&A. See this story for details:
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@GMJournalist
Greg Miller
1 year
What’s going on with tanker stocks? Here’s a look at what analysts and shipbrokers are saying about the recent pullback, including current headwinds for the market and arguments on why these shouldn’t affect the longer-term bull thesis: #shipping #tankers
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@GMJournalist
Greg Miller
4 years
Spot rates for VLCC crude #tankers +50% w/w….and yet today $TNK -6% $TNP -6% $DSSI -5% $INSW -5% $NAT -4% $DHT -4%, $EURN-3% $FRO -2% #shipping
@AmericanShipper
American Shipper
4 years
Tanker rates haven’t been this strong at this time of year for a half-decade. #tanker #maritime #shipping
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@GMJournalist
Greg Miller
4 years
$DHT booked 66% of 2Q spot days at $110,400/day (!). $ASC booking MR rates “higher than ever.” But #tanker stocks got clobbered today: double-digit hits to $NAT, $EURN, $INSW, $TNK, $FRO, $TNP. Here’s a look at the disconnect + analysts on $DHT earnings:
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@GMJournalist
Greg Miller
3 years
Interesting moves for #shipping stocks. Dow jumps 535 and S&P 500 has biggest rise since March. Shares of #containers : $ESEA -8% $ZIM -6% $MATX -6% $CMRE -5% $GSL -4%. Shares of #drybulk : $GNK -8% $PANL -8% $DSX -6% $EGLE -5% $GOGL -4%. Most #tankers shares OK (except $STNG -5%)
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@GMJournalist
Greg Miller
3 years
Yet more container #shipping craziness. $MPCC just chartered out 2,800-TEU ship at over $100,000/day for 65-80 days. CEO says this 2008-built ship was bought for $8M and income from this single charter is…$8M. See more info here: #containers @MarineMoney
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@GMJournalist
Greg Miller
9 months
Houthis named container #shipping line $ZIM as specific target to punish, yet Houthi targeting of container ships in Red Sea just caused Zim’s shares to spike, enriching shareholders (including big Israeli shareholder). Click pic for story: #containers
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@GMJournalist
Greg Miller
9 months
@AmericanShipper
American Shipper
9 months
Greg Miller, a senior editor with FreightWaves, has been named “Best News Journalist of the Year” by the Seahorse Freight Association.
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@GMJournalist
Greg Miller
8 months
UPDATE: MSC exec just posted comments RE: MSC United VIII attack in Red Sea, saying it was “extensive attack,” “situation had the potential to be quite catastrophic.” “This sea lane is not safe for our seafarers.” Click pic for story: #shipping #containers
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@GMJournalist
Greg Miller
4 years
Inside the ‘mind-blowing,’ ‘crazy,’ ‘insane,’ ‘ridiculous’ tanker sell-off. Oil prices down, #tanker results up....tanker stocks down? ($DHT -8%, $STNG -10%, $FRO -9%, $TNK -10%). See exclusive analyst comments RE: a trading day that clearly shocked them:
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@GMJournalist
Greg Miller
3 years
Ship construction video from $NMM #shipping #drybulk
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@GMJournalist
Greg Miller
3 years
UPDATE: Congestion record has just been broken yet again: 49 container ships at anchor/drifting off LA/LB today. Of total, 10 were forced to drift due to anchorages filling up...and there are 17 more container ships due to arrive in the next three days #containers #shipping $ZIM
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@GMJournalist
Greg Miller
8 months
If you were bullish on container #shipping revival, Defense Dept presser on Operation Prosperity Guardian, described as defensive “highway patrol,” will make you even more bullish. Click pic for story link including presser transcript link #containers $ZIM
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@GMJournalist
Greg Miller
3 years
Container ships at anchor/drifting off LA/LB back to 70 today + high arrivals in coming days = Sept. 19 record of 73 container ships looks likely to be broken soon. Including all ship types, 100 vessels at anchor/drifting off LA/LB today, a new all-time high #containers #shipping
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@GMJournalist
Greg Miller
3 years
Hapag-Lloyd CEO on #containers #shipping rates: “Decline is probably less than you would normally see at this time of year. And, of course, we are also coming down from a very high level. We don’t see a lot of [rate normalization] just yet, to be honest.”
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@GMJournalist
Greg Miller
1 year
RE: #crude #tankers , in near term, VLCCs see surprise rate surge to $80,000-$90,000/day. In medium term, IEA forecast for rising cross-basin crude flows + 1.1% orderbook-to-fleet ratio is very positive for VLCCs. $FRO $EURN $DHT $INSW $OET $BWET #shipping
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@GMJournalist
Greg Miller
2 years
Container #shipping update: Good info on today’s Hapag-Lloyd call. Demand easing but not collapsing, ships still oversubscribed just not as much, US demand still solid, spot rate decline offset by higher contract rates. See call info here: #containers $ZIM
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@GMJournalist
Greg Miller
4 years
$FRO CEO: “once in a generation” #tanker boom ... $EURN CEO: “We’re only ones enjoying market" as "rest of world melting down” ... floating storage offers being made at up to $90,000/day ...click here for more highlights of @CapitalLink virtual conference:
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@GMJournalist
Greg Miller
3 years
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@GMJournalist
Greg Miller
11 months
Here’s a detailed look at how US military equipment for #Ukraine and NATO Operation Atlantic Resolve is shipped by sea, including in-depth interview with ARC, leading shipowner involved in transport of heavy equipment bound for Ukraine. #shipping #Russia
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@GMJournalist
Greg Miller
6 months
There’s a common belief that #shipping stocks do poorly on Mondays. Trading stats confirm that Monday is indeed the worst day (and more importantly, Friday is the best). See link to my Substack in my profile for the story. #tankers #drybulk #containers $ZIM $FRO $NAT $STNG $GOGL
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@GMJournalist
Greg Miller
2 years
Price of new #containers now down 25% vs 2021 peak. Production of new containers down sharply y/y. Box equipment lease rates down. Lease durations down. Price of old boxes sold in secondary market down vs peak and still falling. See story: #shipping $TRTN
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@GMJournalist
Greg Miller
4 years
Maersk CEO says: Q4 best ever. Q1 even better. All ships full. More ships being chartered. Chinese factories working through CNY. No chance of slowdown till Q2 – and it could be later. #shipping #containers $DAC $CPLP $GSL $ATCO $NMCI $CPLP $TGH $CAI $TRTN
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@GMJournalist
Greg Miller
8 months
Supply chain-wise, current #RedSea situation is way more serious than Ever Given, much less serious than COVID crisis. That said, spot container rates are surging. See story for latest rate data from Xeneta Platts Freightos SCFI: #containers #shipping $ZIM
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@GMJournalist
Greg Miller
1 year
Tanker #shipping + Russia sanctions: Looks like tipping point has been reached. A lot more mainstream Western #tankers carrying #Russian #crude & products exports (private Greek not US-listed owners). See story for latest trade flow data from @Kpler : #OOTT
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@GMJournalist
Greg Miller
2 years
RE: US imports, there were still 92 container ships waiting off US coastlines on Friday. Down from 150-ish in Jan-Feb, but still high. Until queues cleared, unloading of cargo from waiting ships should help support import volumes #containers #shipping $ZIM
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@GMJournalist
Greg Miller
3 years
Container #shipping Q2 numbers looking huge: COSCO Q2 profits +40% vs. Q1; H1 profits 3.7x full-year 2020. OOCL Q2 revenues +14.9% vs. Q1 (revenue per TEU +16.6% globally, +20.6% in trans-Pac). Evergreen Q2 revenue +11% vs. Q1. See story: #containers $ZIM
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@GMJournalist
Greg Miller
3 years
Container #shipping spot rates are now gravitating upward yet again, pointing to ongoing #SupplyChain pressures. See story for trans-Pacific spot rate assessments from Drewry, Freightos Baltic Index, Xeneta and S&P Global Platts: #containers
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@GMJournalist
Greg Miller
9 months
Shipping analysts were busy today parsing how #Houthis attacks in Red Sea and ship diversions around Cape could affect rates and stocks in various vessel segments. Here’s overview of what they said. Click pic for story link: #shipping #containers #tankers
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@GMJournalist
Greg Miller
3 years
Container #shipping spot rates spike yet again. While indexes don’t reflect true cost including extra charges, when all indexes go rapidly in same direction (up), it bodes well for ocean carriers and ill for cargo importers. See index data here #containers
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@GMJournalist
Greg Miller
4 years
US sanctions #tankers carrying #Venezuela crude to China. This could gather steam. Big Greek names involved (Dynacom, Thenamaris) and AIS/STS data points to big (unsanctioned) names handling second legs to Asia, including Cardiff ( #Economou ). See details
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@GMJournalist
Greg Miller
2 years
This map of ship positions from @MarineTraffic tells the story: US exports of liquefied natural gas have shifted dramatically toward Europe and away from Asia in the wake of #RussianUkrainianWar . See story for details: #shipping #LNG #tankers $FLNG $LNG
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@GMJournalist
Greg Miller
8 months
RE: #tankers and #RedSea detours, situation may be reaching a tipping point due to insurance premiums. RE: container #shipping and Red Sea, it’s now hard to see how this won’t affect trans-Pac annual contract rates. Click pic for story link: #containers
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@GMJournalist
Greg Miller
4 years
A nice surprise: VLCC #tanker rates jumped 42% overnight, back to $62,900/day. According to Clarksons, charterers got a little too comfortable, left fixing a little too late & got caught when China/India delays squeezed availability. $DHT $EURN $FRO $INSW
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@GMJournalist
Greg Miller
3 years
44 container ships at anchor today off LA/LB, topping the previous record of 40. And there is no end in sight #shipping #containers
@MXSOCAL
Marine Exchange
3 years
3 New Records for today (* notes new record). Shipping report for 8/27: 124 ships in port. 71 total ships at anchor*. Of these, 53 are awaiting berth. 72 container ships in port*, 44 at anchor*, 28 at berth. Operations are normal. For more details:
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@GMJournalist
Greg Miller
2 years
UPDATED: #shipping fuel price still shooting straight up. As of today, Ship & Bunker put ave VLSFO price at top 20 ports at $987/ton, Singapore at $1,001, Fujairah at $1,024. Unprecedented. Increases show zero sign of slowing. #tankers #containers #drybulk
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@GMJournalist
Greg Miller
3 years
Port of LA Dec import number just came out – and it’s ugly: -16% y/y, 4th month in a row of sequential declines, lowest imports since June 2020. Not due to weaker demand, but because #SupplyChain bottlenecks getting worse, not better. #shipping #containers
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@GMJournalist
Greg Miller
3 years
UPDATE: Getting even worse: 31 container ships now anchored off LA/LB + Maersk just sent customer advisory warning "critical help needed," seeking faster box returns, stating "congestion increasing" & predicting "higher volumes into early 2022 and beyond." #containers #shipping
@GMJournalist
Greg Miller
3 years
Going into peak season, US port congestion worsening. Bad for importers, good for ship/box lessors. RE: liner profits, one example: MSC Asia-US congestion surcharge/40ft hi-cube effective 8/19: $1,125 then 9/15 Asia-West Coast: $3,375 #shipping #containers
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@GMJournalist
Greg Miller
4 years
Earlier this year, CEO of $FRO bet an analyst that VLCC rates would not fall back to $20,000-$30,000/day levels by end-Q3. If he loses, he promises to walk 300 miles b/w Bergen & Oslo. It increasingly looks like he may need a new pair of Nikes. See story:
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@GMJournalist
Greg Miller
3 years
Maersk Q3 best ever. Q4, Q1 look on par with Q3. “Demand strong as far out as we can see.” '21 contract rates +50% vs '20 and will rise again in '22. Importers rushing to sign contracts: '22 contracts to be wrapped up by Feb, not May: #shipping #containers
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@GMJournalist
Greg Miller
3 years
Tweet media one
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@GMJournalist
Greg Miller
4 years
"Historic" #shipping newbuild order slump = important tailwind for rates in 2021, 2022 & beyond (if demand holds). Major developing story RE: future supply/demand balance that's getting way too little market attention. Here's latest newbuild data: #tankers
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@GMJournalist
Greg Miller
2 years
Container #shipping update: Cosco Q2 profits highest ever, OOCL Q2 revenues highest ever, OOCL trans-Pac revenue/TEU +10% in Q2 vs Q1 (despite spot rate drop), Evergreen Q2 revenues highest ever, peaking in record June. See numbers here: #containers $ZIM
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@GMJournalist
Greg Miller
3 years
LA/LB queue is down to 66 ships from 101 on Feb. 1, but schedule data implies this is due to Chinese New Year sailings lull. Departures now picking up again. Meanwhile, more ships than ever waiting off East/Gulf coasts: #shipping #containers $ZIM $MATX
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@GMJournalist
Greg Miller
2 years
$STNG has a long history of talking its book, but that doesn’t mean it’s wrong (this time). Regardless of sanctions effect, product #tankers supply-demand balance has rarely, if ever, looked this attractive. See comments from today’s presentation #shipping
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@GMJournalist
Greg Miller
4 years
Double-digit spike for #tanker stocks as #crude market collapses in wake of #coronavirus : $TNK +21%, $TK +21%, $STNG +18%, $NAT +19%, $DSSI +16%, $NNA +16%, $FRO +13%, $TNP +11%, $EURN +10%. See new analyst comments here (P.S stocks up after hours too):
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@GMJournalist
Greg Miller
3 years
RE: the emergency fee in LA/LB that the port authorities said is not intended to be passed along from ocean carriers to shippers... it is of course being passed along. This just came into the inbox from Maersk: #shipping #containers See text here:
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@GMJournalist
Greg Miller
11 months
Many #shipping investors know the “M” word: Maxim. New SEC action says nothing about shipping, but Maxim was just fined, censured and given cease-and-desist RE: variety of transgressions it neither admits nor denies. See story for link to the SEC order:
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@GMJournalist
Greg Miller
1 year
$ZIM now has 70% spot exposure in trans-Pacific (vs usual 50%) because it couldn’t get enough shippers to sign annual contracts above its minimum rate threshold. Could be a positive in Q3 as spot rates have risen above contract rates. #shipping #containers
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@GMJournalist
Greg Miller
3 years
Overall #shipping sentiment hasn’t been this positive in years ( #containers , #drybulk , #LNG …with hope #tankers will eventually join party) yet number of shipping stocks is falling, as take-private deals + M&A remove names faster than they’re being added:
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@GMJournalist
Greg Miller
4 years
$NAT +8% $EURN +8% $INSW +8% $TNK +7% $DHT +6% $DSSI +6% $STNG +6% $FRO +4%...FYI check out what’s going on in China (see story for new data on severe congestion) #shipping #tankers
@AmericanShipper
American Shipper
4 years
New data reveals severity of China tanker logjam
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@GMJournalist
Greg Miller
3 years
As many expected, the controversial Los Angeles/Long Beach container fee plan has just been postponed (until Nov 22)
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@GMJournalist
Greg Miller
2 years
Container #shipping at the crossroads: The big unwind or party on? There's a lot of (conflicting) data out there on #containers . Here’s the latest on spot rates from various indexes + new congestion data from multiple sources + new interviews on market:
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@GMJournalist
Greg Miller
1 year
#PanamaCanal congestion is nothing new, but could this time be different for #LPG #shipping ? Could it lead to more a long-lasting shift away from Panama toward Suez and Cape of Good Hope for US-Asia LPG trade? See story for coverage of today’s $AGAS call:
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@GMJournalist
Greg Miller
3 years
Container #shipping things to watch 2022: #COVID impact on demand/supply + imports without stimulus boost + inventory-to-sales + port congestion + West Coast port labor contract expires July 1 + what happens with #Taiwan / #China /US. See outlook: #containers
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@GMJournalist
Greg Miller
4 years
Updated: Fully-fixed VLCC rates have officially gone into record territory. October 2019 highs have now been surpassed. Maran Antares, placed on subs last Wednesday, is now fully fixed at $301,200 per day, according to Tankers International:
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@GMJournalist
Greg Miller
3 years
Yet more evidence of how crazy container #shipping has become: Chinese freight forwarder has reportedly chartered a 15-year-old, 5,060-TEU ship for $135,000 per day for one round-trip, with option for second. See story for info on implications: #containers
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@GMJournalist
Greg Miller
3 years
Many #shipping stocks down double digits over past three weeks, not just #tankers (disastrous rates) but also #containers (epic high rates) and #drybulk (strong). See story for analyst views on stock pullback + new @Kpler data on Middle East crude exports:
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@GMJournalist
Greg Miller
3 years
From $DAC quarterly release: After selling 2M $ZIM shares in June for net proceeds of $76.4M, Danaos sold another 1M of its ZIM shares in October for net proceeds of $44.3 million. Danaos continues to own 7,186,950 shares of ZIM, valued today at $356M. #shipping #containers
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@GMJournalist
Greg Miller
3 years
History-making profits for ocean carriers in Q4 2021, trouncing already stratospheric expectations. Supply chain congestion — the bane of cargo shippers — has proven to be an unprecedented money-making machine for #shipping lines: #containers $ZIM $MATX
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@GMJournalist
Greg Miller
1 year
New reports emerging on $ZIM terminating charters early and subletting leased ships to offset effects of newbuilding deliveries and weaker-than-expected H2 demand. Two mutually agreed terminations confirmed by $ESEA today. See story: #shipping #containers
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@GMJournalist
Greg Miller
4 years
So, that was a particularly crazy week…stock charts of #crude #tanker owners $FRO, $EURN, $DHT and $INSW look like Cyclone rollercoaster on Coney Island…Here’s interview with Evercore tanker guru Jon Chappell on what just happened & what could be next:
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@GMJournalist
Greg Miller
2 years
Queue off LA/LB down to 25 ships Fri, lowest since July 2021 (28 today). East Coast queues also down vs peak (but still high in NY/NJ & Savannah). Meanwhile, Asia-West Coast spot rates stopped falling (for now) & 2023 futures are up: #shipping #containers
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@GMJournalist
Greg Miller
2 years
Fri. am: 125 container ships waiting off North Am ports with capacity of over 1M TEUs, including 36 off Savannah, 24 off LA/LB, 20 off NY/NJ, 20 off Houston. Down 16% vs early 2022 peak, but up 36% from 92 ships 1 month ago. See story #containers #shipping
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@GMJournalist
Greg Miller
3 years
So much for #Evergrande fears RE: collapse in #drybulk demand. Looks like rate-bullish #CoalCrisis has taken over. Capesize $80,000+, Q4 FFAs back up, and another great day for $BDRY. See story for latest rate/FFA info: $BDI $SB $SBLK $GOGL $EDRY $NM $NMM
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@GMJournalist
Greg Miller
4 years
VLCC spot rates +50% w/w but #tankers stocks still sliding. Only $NAT performing. From March 2-July 9, $NAT +28% (above DOW/S&P/NASDAQ), whereas basket of crude #shipping stocks excluding NAT -20% (below DOW/S&P/NASDAQ). See story for summer rate outlook:
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@GMJournalist
Greg Miller
3 years
Ocean carriers remain in a sweet spot where congestion inflates rates to extent that heavily outweighs revenue fallout from delays/lost capacity. Earnings prereleases from $MATX and COSCO highlight continued ascent of carrier earnings #shipping #containers
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@GMJournalist
Greg Miller
4 years
Here's a #tankers paradox: near-term M&A unlikely because (1) stocks trading at too steep a discount to NAV, so shares very hard to use as M&A currency, and simultaneously (2) tanker profits so massive that no one wants to sell fleets. See story: #shipping
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@GMJournalist
Greg Miller
3 years
#Drybulk #shipping rates well above 5-year averages and all-in breakeven rates, and bulker newbuild contracts still MIA as yards fill up with container-ship orders. If a sustained global-recovery demand scenario plays out, dry bulk owners are looking good:
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@GMJournalist
Greg Miller
3 years
BTW, all those #container ships sitting at anchor off California…they’re still there. Here’s data RE: 2021 congestion crisis vs. 2015 situation during dockworkers contract fight. Not even close: 2021 blows 2015 away & no end in sight. See story: #shipping
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@GMJournalist
Greg Miller
4 years
Amazing how little attention is being paid to global-trade threat from stranded-crew crisis, which just got much worse. Could forcibly idle a lot of tankers and bulkers, pushing up spot rates, good for public companies whose ships are not idled. See story:
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@GMJournalist
Greg Miller
3 years
FYI analyst Jon Chappell of Evercore ISI just put out report: "Tankers: It's Time - Risk of Being Late Now > Risk of Being Early." He upgraded $DHT $FRO $NAT and wrote "time to go long tankers"... "risks still exist, but are increasingly being overwhelmed." #shipping #tankers
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@GMJournalist
Greg Miller
3 years
Remember that multi-month stretch when container spot rates plateaued at very high level and consensus was: this is ceiling? It wasn't. Rates still moving up. Increasingly painful for US importers. Increasingly profitable for carriers #shipping #containers
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@GMJournalist
Greg Miller
3 years
#Shipping stock upswing continues. #Containers : $ZIM +68% since IPO. Since July 1, $DAC up 13x, $NMCI 10x. #Drybulk YTD: $SHIP +133%, $SB +120% $EGLE +106%, $SBLK +81%. #Tankers since Feb. 1: $STNG +51%, $TNK +41%, $FRO +29%. See new coverage here:
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@GMJournalist
Greg Miller
4 years
Many #shipping #tankers investors read “The Shipping Man.” What drew people in was a story of huge leverage + total lack of price regulation + massive volatility. 9 years later, another sequel is out: “Exit Strategy.” And times have really, really changed…
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@GMJournalist
Greg Miller
3 years
There has never been a crazy boom like this for #containers before but there has been a crazy boom like this in another shipping sector: #drybulk 2007-08. Here’s a look back at the last time #shipping had it this good, courtesy of archived analyst reports:
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@GMJournalist
Greg Miller
4 years
Oil no one needs is now pouring into tanker cargo holds like rainwater into buckets under a leaky roof...another big day for #tanker stocks. Here’s latest analyst views + how new product-tanker highs compare to prior records (hint: it’s not even close):
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@GMJournalist
Greg Miller
4 years
Craziness. VLCC Sea Splendor fully fixed at $351,961/day, Arabian Gulf-US Gulf via Cape of Good Hope, charterer: Bahri, says Tankers International app (which you should download now, if you haven’t already). Story on crude rate/stock price divergence here:
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@GMJournalist
Greg Miller
3 years
#Shipping lines’ guidance was way, way too low. Maersk, early this yr, guided full-year EBITDA $8.5-$10Bn. Today it says $18-$19.5Bn, 2x where it started. Maersk sees Q3 better than Q2 and “exceptional” market conditions through year-end: #containers $ZIM
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@GMJournalist
Greg Miller
3 years
Focus has been on #containers #shipping congestion driven by COVID-era changes in consumer spending. But there’s an even bigger traffic jam involving #drybulk , caused by #COVID19 rules at #China ports in wake of #DeltaVariant . See story for latest numbers:
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@GMJournalist
Greg Miller
3 years
Ocean #shipping stocks today: $SHIP +19% $TOPS +15% $NAT $FLNG $PXS +8% $EDRY +7% $STNG $GLBS +6% $FRO $TNK $PANL $TRMD +5% $ZIM $SBLK $INSW $GLOP $OSG $TNP $TK $DHT +4%. Here’s a COVID-era overview and new analyst interviews: #containers #tankers #drybulk
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@GMJournalist
Greg Miller
2 years
Could U.S. gasoline prices shoot so high this summer that Jones Act is temporarily waived, allowing foreign-flag #tankers to transport gasoline cargoes from Gulf Coast to East Coast? See commentary from brokerage BRS: $STNG $ASC $FRO $INSW $PXS #shipping
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@GMJournalist
Greg Miller
8 months
Things are heating up further in #RedSea with today’s attack on bulker of NYC-based $EGLE. In container market, charter rates rising. Click pic for story (meanwhile, fortuitous timing for planned sale of $CPLP container ship fleet...) #containers #shipping
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@GMJournalist
Greg Miller
3 years
Amazing how consolidated container #shipping is across both vessels and box equipment: Just 8 carriers operate 80% of vessel capacity + just 3 #China manufacturers build 80% of new containers + just 5 companies control 80% of leased #containers . See story:
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@GMJournalist
Greg Miller
10 months
Looks like majority of #drybulk ships loading grain in the US Gulf have shifted to the longer route via the Suez Canal, which makes the Suez – which faces its own geopolitical risks – even more important to US exports. Click pic for story link: #shipping
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@GMJournalist
Greg Miller
3 years
A tale of two #shipping markets: Spot rates remain near historic highs for #containers , but over on the non-containerized side – #drybulk , crude and product #tankers and #LNG – a rocky start to 2022. See story for latest spot rates for each segment: $ZIM
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@GMJournalist
Greg Miller
1 year
War-driven shift of US #LNG exports toward Europe is still in full swing (here’s today’s map from @MarineTraffic ). See story for perspective on this ongoing trend from $FLNG and Cheniere $LNG calls + latest Clarksons data/ #shipping rate outlook: #tankers
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@GMJournalist
Greg Miller
2 years
Today, Dow plunged 1,276 points. Also today, tanker stocks $DHT $INSW and $TNK hit new 52-week highs. Yesterday $STNG $TNP and Cool Co hit 52-week highs. Rates looking very strong for crude #tankers , product tankers and #LNG #shipping . See story for rates:
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@GMJournalist
Greg Miller
4 years
Who would ever imagine that VLCC spot rates would top $300,000/day and simultaneously shares of $FRO, $INSW, $EURN and $DHT would all plunge by double-digits? See story for latest insight on the divergence of #tanker #stocks and tanker rates: @mintzmyer
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@GMJournalist
Greg Miller
2 years
#UkraineRussiaWar is having major effect on how #crude is flowing around the globe. Shifting trade patterns look increasingly long-lasting. New crude flows look likely to both grow and endure. See story for comments from $EURN $TNK execs #shipping #tankers
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@GMJournalist
Greg Miller
3 years
Although it's overshadowed by epic boom in #containers , dry bulk #shipping has had its best first half in a decade. See story for latest on spot rates, FFAs, time charters, ship values, stock gains and views on how long surprise rally could last: #drybulk
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@GMJournalist
Greg Miller
2 years
Amid rising threat of #Railroadstrike , here’s latest on US #containers imports: Aug imports close to record high, on par with July imports, up double digits vs pre-COVID. And as of now, over 140 container ships still waiting offshore. See story: #shipping
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@GMJournalist
Greg Miller
4 years
#VLCC rates still very strong $55,000/day, but June China #tanker bookings down as previous orders pile up + US exports fall due to #floatingstorage unwind & lower China bookings = ton-mile demand decline ahead. Will new sanctions save the day? See story:
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@GMJournalist
Greg Miller
3 years
US shipper to MSC & COSCO: you’re profiteering, colluding, flouting #shipping contracts. MSC responds: This might be defamation. COSCO: You made false statement under penalty of perjury. Both carriers: Culprit is congestion + US demand, not us: #containers
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