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Weak containership utilisation levels have forced many container lines to decide on culling capacity on the Asia-Europe sailings in August, but the 2M alliance of Maersk Line and Mediterranean Shipping Co (MSC) is thus far not planning to do the same, according to container shipping analyst Alphaliner.

While the tanker market basks, the dry market languishes but that didn’t stop dry paper from having some fun this week. Trouble is this exuberance was absent a similar physical sentiment. Though the tone was positive, it was hardly bullish, and by week’s end the exuberance looked to have run out of puff.

The falling trend in container shipping spot freight rates for most of this year is pushing larger boxships to idle on the back of the continuing overcapacity problem, according to an analyst report by shipping association Bimco.

The gravity-defying tanker market continues as we move towards the so-called traditionally weak third quarter.

Two financial crises ago, in 1997 a horror movie was released called 'I know what you did last summer'. At the start of this week, freight brokers were studying a script with the working title 'Didn’t do much last summer'.

With freight rates in the tanker shipping market displaying strength, especially since the world is experiencing only modest demand growth, analyst Poten & Partners has taken a closer look at what exactly are the key drivers for the increases in rates.

Freight rates on the Asia-Europe trade fell $203 per teu to $658 per teu last week, according to the latest Shanghai Containerised Freight Index figures.

The fall in Chinese demand for chemicals will be a major contributing factor to yet another challenging year for the chemical tanker shipping market, according to the latest chemical forecaster published by shipping consultant Drewry.

The Transpacific Stabilization Agreement (TSA) is recommending another $600 per feu rate increase ahead of the Lunar New Year as lines struggle to raise rates on the key trade.

After a miserable summer, the crude tanker market has begun to pick up again. VLCC earnings have picked up to an average of $16,628 a day, suezmaxes to $26,866 and aframaxes to $14,470 a day, according to Clarkson Research figures.

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