Howe Robinson Partners

Howe Robinson has launched the Howe Robinson Indian Ocean Handysize Index (HRIOH) to provide our clients with a clearer assessment of the rates and market trends within the Indian Ocean. The index has been developed to meet the need for a relevant route covering the Indian Ocean, which is not presently included in the Baltic Handysize Index. The new index follows the introduction of the Howe Robinson Indian Ocean Supramax Index (HRIOS) in May 2021, designed to bring visibility on the ever-growing larger geared vessel trades in the Indian Ocean. HRP estimates that around 15% of the Handysize fleet (20-45,000dwt) now trade in this ever more important region where India alone now imports around 360 mt/yr, making it second largest dry bulk importer after China. The routes on the HRIOH, in a similar fashion to its sister HRIOS index, will be reported on a twice weekly basis according to the relative importance of their fixture volumes and will be summarised in our Dry Cargo Weekly Report. To learn more and discuss our services and publications, please visit: https://lnkd.in/ep-xSjyq #drycargo #drybulk #handysize #supramax #IndianOcean

Growing domestic demand for aluminium as part of China’s aggressive expansion into electric vehicle manufacturing has led to a sharp rise in #bauxite shipments, which grew to a monthly record 15mt in July. Operational challenges at several of its domestic bauxite mines, has forced Chinese #alumina producers to seek additional bauxite from the international market leading to growing imports from minor suppliers such as Brazil, Montenegro and Türkiye. There are also rumours that Indonesia may also restart bauxite exports to China given its own domestic challenges in the setting up of domestic smelters leading to excess supply. The Howe Robinson Partners weekly #drybulk market report covers all aspects of the market including vessel segment updates, #commodities, #congestion and #carbon costs. To learn more and discuss our services and publications, please contact us: [email protected]

With the exception of the MR Atlantic Basin, July and August have not been kind to CPP tankers from a freight perspective.   Unscheduled outages in the US’s mid-western refinery landscape have helped support MR fundamentals with the Mid-West having to increase its pull on USGC barrels to cover the loss of supply at the expense of the US East Coast, which has been drawing on its inventory levels as we move through the driving season.   Despite the weakness in European demand, MRs are still benefiting from the pull on USG diesel barrels, with MRs on a $/tonne basis continuing to ensure US exports remain more competitive from a freight perspective than out of AG/Indian, with US flows into Europe increasing to 0.48mb/d in July.   This is expected to continue as Europe moves into its peak diesel/gasoil demand with the start of its harvest season which will continue to support MR utilisation going forward.   Howe Robinson Partners’ latest CPP market update ‘Summertime Sadness’ discusses the trends in current and forward markets through our oil and tanker demand sections.   To find out more about Howe Robinson’s tanker research and regular publications, please visit https://lnkd.in/eW3srmZv #CPP #producttankers #oilproducts #MR #tankermarket

Bilal Muftuoglu will join a panel discussion "Navigating Future Shifts in Iron Ore Trade Flows Amid Innovation of Green Steel Transformation," at the Mysteel Iron Ore conference in Kuala Lumpur. Head of dry bulk research at Howe Robinson Partners, Bilal will provide an update on iron ore and Capesize bulker markets. He will also highlight changes in iron ore trade flows due to green steel and the growth potential in Brazilian iron ore trade to GCC countries for refining, followed by re-export to the Far East. The event takes place at the Grand Hyatt Kuala Lumpur, Malaysia on October 22-24, 2024. Click here to learn more: https://lnkd.in/g9aMkKd8 #ironore #steel #AsiaIronOreSummit #Mysteel #Capesize

Accounting for c40% of global dry bulk imports and c70% of the bulker orderbook, China will continue to be the key driver to dry bulk market direction in 2H 2024. In its recent published Dry Bulk Market Overview & Outlook H2, Howe Robinson Partners notes that China’s eagerly-anticipated Third Plenum concluded largely without the announcement of significant economic initiatives. The country’s policy of iron ore, coal and grains restocking against a backdrop of weak commodity prices offset macroeconomic woes in 1H whilst its cement imports neared zero and steel exports continued to grow, implying that the real estate market continues to stagnate. However Howe Robinson expects a soft decline in China’s iron ore and coal imports in H2 rather than a heavy drop. Low commodity prices globally should continue to provide some incentive for China to keep on prioritising imports over domestic production, supporting tonnage demand. To learn more about the HRP H2 update, please contact [email protected]. #China #drycargo #capesize #panamax #supramax #coal #ironore #shipping #freight

Bilal Muftuoglu from our Dry Bulk Research Department will be running the Thames Bridges Trek 25K in September to raise money for Médecins Sans Frontières (MSF). MSF operates in over 70 countries delivering urgent healthcare but have suffered severe human and material losses in the past few months in war-torn places including Gaza and Ukraine. Many thanks to those who have already generously contributed. Nearly £1000 has been raised so far! Please show your support by donating via the link below: https://lnkd.in/e3uyykZS Good luck from all at Howe Robinson! 😀

Main liner operators continue to use the northern hemisphere’s summer holidays to their advantage, with many trying to resist taking ships, hoping for rates to ease somewhat from the elevated levels they have reached for all sizes.   Smaller operators remain more active, in part thanks to some the MLOs taking a backseat. However, this has often come at a cost, particularly for newer players, either having to concede on rate and/or terms with owners whose confidence continues to grow by the day.   At the heart of this resilience continues to be the structural shortage of ships available for hire, a factor which not only predated the Red Sea disruptions, but which is showing little signs of improvement going forward.    Howe Robinson publishes regular updates on containership charter markets. To learn more and discuss our services and publications, please contact us: [email protected]. #containers #containerships #supplychain #globaltrade #logistics #linertrade #redsea  

After unwinding a brief July spike, #VLCC spot rates are hovering just above their lowest level in months, as they slog through their summer slow season. Howe Robinson's head of tanker research Dr Isha M. tells TradeWinds that if seasonal trends hold, they are headed for a bounce towards what is typically a winter peak. Mishra does not see an unwinding of production cuts by #Opec+ as a major factor, even if that happens after September. “I am not very confident given the current oil price curves,” she said. Read the full story: https://lnkd.in/e2hxWCQZ #tankers #crudeoil #OPEC #Suezmax #Aframax

Continuing education has a critical role of preparing for the future and, whether for personal development or business reasons, it’s something Howe Robinson takes seriously. Henry Hudson-Evans, who is a Partner in our Dubai office, graduated from London Business School in July, having completed the School’s Executive MBA programme. “I decided to go back to study, partly due to my own curiosity, but more specifically because I am interested in helping Howe Robinson capitalise on the opportunities of being a substantially larger business,” he says. Howe Robinson doubled in size in 2016 when it merged with ICAP and has grown by around 50% since then. It now has 18 global offices and is a fully diversified business in every major sector of the market. “Whilst some of our peers have discovered that size can dilute a firm’s culture, and does not always lead to better client service, we have managed to largely keep the same ethic as when I joined in 2011, so we have already been quite successful in managing our growth. Nonetheless, David Anderson, Guy Hindley and Josip Mladenic really encouraged me to study again, I am very grateful to them and hope to repay their faith in years to come,” says Henry. “I must also thank my clients, who were supportive and very patient, especially when fixing ships in the back of a lecture theatre. Most importantly though, I must thank my wife and three young daughters. Despite studying for exams over weekends and finishing essays late at night, it was stimulating and actually very good fun.” he adds. Henry chose the London Business School as it is consistently ranked as one of the top business schools in the world. Lectures from Alex Edmans, Ben Hardy, CHRISTOPHER HENNESSY, Andrew J Scott and Philosopher A.C. Grayling were particularly engaging, encouraging him to challenge what he thought he knew, and recognise that learning is a lifelong commitment. To find out more about careers with Howe Robinson Partners please visit: https://lnkd.in/ejwnb2B2

There is an undeniable hunger for #containerships currently and whilst many may see events such as the attacks in the #RedSea as the main reason, a more significant driver could be the ‘coming of age’ of the freight market. In its Second Quarter Containership Review and Outlook, Howe Robinson Partners notes that although the rallies in both vessel hire and box markets have slowed in recent weeks, each managed to reach levels reminiscent of the pandemic in a surprisingly short time, displaying a volatility quite unlike the several decades prior to the shocks of COVID. Whilst #freight has been boosted from an early peak season push from a recovering demand base, across a severely disrupted network, the Liners’ chartering strategies have seemingly been working beyond this timeframe. Having had limited tonnage options in the near term for quite some time now, a significant portion of the activity has focused further into the future, with increasing sums and periods being paid for ships, some even delivering towards the latter part of next year. Howe Robinson publishes regular updates on containership charter markets. To learn more and discuss our services and publications, please contact us: [email protected]. #containers #containerships #supplychain #globaltrade