"The industry is sick," says Noble Chartering in an interview as the company turns its focus to India. Because with a dry bulk industry hit by overcapacity and the Chinese slowdown, the time has come to look for new market potential.
BY TENNA SCHOER
Michael Nagler leads us into the first unoccupied meeting room with the revealing name "Earth." For now is the time to look out across the globe for new potential markets for Noble Chartering, explains the company's Head of Chartering.
Rising oil prices and major profits at energy companies come at an opportune time for suppliers. Analysts expect the otherwise strained offshore carriers to begin ordering more ships in 2023, with Prosafe’s CEO reporting ”optimism in our field.”
Harald Solberg, CEO of the Norwegian Shipowners’ Association, fears that the green energy transition will move too slowly if policymakers don’t take further action soon, he tells ShippingWatch. Two initiatives in particular are necessary, he says.
The Norwegian-Swedish company closes the second quarter showing a decreased net result but expects the rest of the year and the beginning of 2023 to be much better. CEO Lasse Kristoffersen says cargo volumes will grow as more cars, trucks and excavators will be produced.
DFDS and P&O Ferries are sharing ferry capacity on the English Channel – even though French competition authorities have yet to approve such an arrangement. British authorities have green-lit the deal.
Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.