Nick Savvides

United Kingdom

Journalist and Writer at Freelance

News Editor at The Loadstar

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Articles

Every ship can be a research vessel to monitor the oceans

1 week ago | seatrade-maritime.com | Nick Savvides

Currently the sector is digitalising, with sensors on vessels measuring fuel use, emissions, engine performance vessel performance, weather routing and many other things, with details transmitted onshore via satellite systems or via coastal telecoms services, according to Danish Ship Finance (DSF) adding equipment to monitor the ocean would be low cost.
Houthi Red Sea truce could have profound impact on shipping

1 week ago | seatrade-maritime.com | Nick Savvides

Diversions via the Cape of Good Hope to avoid attacks since November 2023 have had a major positive impact on freight rates, in particular container shipping, and if the ceasefire leads to vessels returning to the Suez Canal this would be reversed. In a statement issued yesterday Oman’s Foreign Minister Badr Albusaidi said discussions aimed at de-escalating the conflict in the Red Sea had resulted in an immediate ceasefire.
Confusion reigns as carriers and shippers grapple with tariffs

1 week ago | seatrade-maritime.com | Nick Savvides

Carriers have cut Pacific capacity by 11% compared to January this year, according to MDS Transmodal data as carriers struggle to maintain rate levels. The market situation is, however, further complicated by the continuing increase in newbuild ships hitting the water that has seen supply chains stuttering, with spot rates yo-yoing with fluctuating demand as Washington imposes then pauses tariffs, seemingly at the whim of the President.
Norwegian tanker owner aims to extend vessel life by 15 years

1 week ago | seatrade-maritime.com | Nick Savvides

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Falling demand and higher rates

2 weeks ago | seatrade-maritime.com | Nick Savvides

Xeneta chief analyst Peter Sand told Seatrade Maritime News that demand for capacity from most regions is still rising, but not enough to replace the demand that has fallen for cargo from China as President Donald Trump’s tariff regime takes hold with the rhetoric on both sides of the ocean rising in temperature.
Tariffs bring swift refocus of supply chains on SE Asia

2 weeks ago | seatrade-maritime.com | Nick Savvides

According to the latest data from the ocean intelligence service Xeneta average spot rates from China to the US increased to $2,709 per feu by 25 April, from $2,457 per feu on 31 March, compared to $2,890 per feu from Southeast Asia, which increased $426, in the same period, a more than 17% increase.
Back to the future economics to send ships to scrapyards

2 weeks ago | seatrade-maritime.com | Nick Savvides

In July, widespread US tariffs are due to be enforced, triggering a “damaging trade war”, according to some, and potentially sending the container shipping market into a tailspin. According to Daniel Gros, director of the Institute for European policymaking at Bocconi University, Donald Trump’s “sweeping tariffs” will wipe $5trn from global stocks fuel fears of a widespread recession. “This is not the first time the US has suddenly embraced protectionism.
Shippers’ 90-inventory chase: the race is on

3 weeks ago | seatrade-maritime.com | Nick Savvides

Shippers and carriers have until early July to decide how to respond to the imposition of US tariffs and until October to prepare for the introduction of Section 301 ship fees; the market will be changing, unless of course Washington changes course. We can’t say we weren’t warned, said Drewry analyst Simon Heaney, Donald Trump is doing precisely what he said he would during the election campaign.
China’s manufacturers feel the tariff pinch

3 weeks ago | seatrade-maritime.com | Nick Savvides

Factories that rely on American markets are already feeling the cold hand of recession as shippers cancel orders and US shippers assess their options in an effort to minimise the worst effects of tariffs. According to analyst Jon Monroe, currently in Shanghai, the feeling is that the trade dispute will “blow over” in a couple of months and normal business will resume, however, what happens if this optimistic view does not come to pass, asks Monroe?
Shipping organisations critical of USTR fees

3 weeks ago | seatrade-maritime.com | Nick Savvides

Maritime industry bodies are critical of the latest iteration of fees to be imposed on vessels built in China and/or owned and operated by Chinese companies, announced last week by the US Trade Representative (USTR), introducing a $50/net tonne fee on ships calling into the US.