Dry CargoGasOperations

Bulkers slow down while gas carriers hit the pedal

Speed data published by broker Banchero Costa today neatly encapsulates where the shipping markets are mid-way through Q3 in what has been a banner year for the industry to date.

The data (pictured below) is based on AIS vessel movements taken yesterday and shows bulk carriers are travelling slower, reflecting the doldrums they’ve recently hit, while tankers and LNG carriers have noticeably sped up compared to their averages over the past 12 months.

The return to profits for tankers has been one of the shipping stories of the past three months, while gas carriers continue to rake in significant profits thanks to expanded trading routes following Russia’s invasion of Ukraine in February.

The Attalos LNG carrier arrived at the Isle of Grain terminal in Kent in the UK yesterday, believed to be the first cargo of LNG sent from Australia to Europe in six years, another sign of the altered seaborne trading map for many sectors in the wake of war in eastern Europe.

The cross-sector ClarkSea Index stands at $38,157 a day, remaining extremely firm historically, up 65% year-on-year in the year to date and 151% above the 10-year trend. The index is a useful barometer of shipping fortunes. Created by Clarksons Research in 1990, the weighted index covers tanker, bulk carrier, containership, and gas carrier earnings.

Click to enlarge

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.


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