News

July 08, 2008

Clarkson Clears the Decks To Get Full Benefit From High Shipping Rates

By Sally White

Who wouldn’t settle a dispute if it stood in the way of making the most of soaring markets. Certainly, it seems, not shipbroker Clakson. It has just bitten a £27million bullet, after months of holding out, to settle litigation over past dealings with two Russian state-owned oil tanker operations. In time to concentrate single-mindedly on enjoying another few years of high shipping rates!

While forecasts tend to be cautious for the tanker market a year out– there could be oversupply next year if yards deliver on time –high charter rates for dry bulk ships look set to go on for a while yet. As well as for metals, trade in soft commodities – especially grains, soya and rice – continues to be strong.

Biofuel demand has also stepped up. So much, in fact, that shipping companies are questioning if there is sufficient capacity. An extra 400 vessels will need to be built to...