Maritimedata.ai is a digital broker that provides data and analytics solutions for the maritime ecosystem. We work as an intermediary between clients in the maritime industry and solution providers to help them find the best data-driven solutions to help solve their business challenges.

The objective of the newsletter is to provide you with up-to-date information on the most recent advancements in space and market insights produced by partners in the MDAI network.

The Best Links

Insights 📈

• How a historic drought has impacted the world’s most important canal (link)

• Iraq’s Wheat Trade: Stiff Competition Among the US and Australia (link)

• Global Seaborne Steamcoal by destination (link)

• Key Shifts in Global Dry Cargo Demand (link)

• Navigating Sanctions Compliance in Maritime Finance: Bridging the Compliance Gap (link)

Product launches 🚀

• Kpler launches new Terrestrial AIS Network following the acquisitions of Marine Traffic and Fleetmon (link)

Deeper Dive

• Aframax and Suezmax tankers find support in the Middle East for now with Vortexa

• Is shipping becoming more "science" and less "art"?

• Understanding Global Freight Market Shifts with Kpler

Aframax and Suezmax tankers find support in the Middle East for now

A post by Vortexa

Aframax and Suezmax utilisation out of the Middle East has increased sharply since the start of July

• This is in line with tankers in the Russian crude trade singling the Middle East as a destination on ballast voyages in the same month

Both tanker classes seem to be serving the Middle East-to-Med as well as the Middle East-to-India crude markets

• The increase is stemming from Middle Eastern countries other than Saudi Arabia

• This, coupled with lower Chinese crude demand has softened VLCC utilisation out of the region slightly

Looking ahead, increased exports from OPEC+ countries (excl. Saudi Arabia) are likely to be limited, which could cause tanker oversupply in the region

Is shipping becoming more "science" and less "art"?

This was a question asked by Roar Adland, Global Head of Research at Ship Broker, Simpson Spence Young in a recent Linkedin post.

He suggested it’s useful to think of Shipping Data as 3 Layers of information.

The geospatial layer involves standard ship tracking and cargo volume estimates, but location tracking may have gaps.

The commercial layer includes ship's commercial status, charterer details, and rates, with some segments being more transparent than others.

Connecting ship movements to commercial status is often difficult due to lack of direct correlation.

The third layer focuses on human behavior and decision-making influenced by available public and private information.

The interplay of these layers, combined with variations in data coverage, makes data-driven analysis challenging and as a result, Roar believes shipping analysis remains very much an art 🎨

Understanding Global Freight Market Shifts

A post by Kpler

The global commodity shipping landscape is undergoing significant changes, and as a key player in the energy intelligence field, Kpler is at the forefront of tracking and analyzing these shifts. Here's a glance at the latest trends, focusing on the Russian and Greek markets.

Fewer Greek Loads from Russia

A decline in Greek owners loading clean and dirty products from Russia has led to a depression in rates for non-Russian loads. This has the potential to widen the two-tier freight market, resulting in more vessels being available for global load, and fewer from Russia.

Rising Diesel Prices and Market Shifts

The price of delivered diesel to ARA reached $122/bbl in the week beginning July 31st - the highest since the EU import ban on Russian refined products. This is leading to an altered market dynamic, with some clean tanker owners already shifting away from loading Russian refined products.

The Dirty Segment Mirror

A similar trend is observed in the dirty segment, with Greek owners avoiding Russian cargoes in the Black Sea and instead focusing on Kazakhstan CPC exports. This has pushed rates for these loads down and has had a profound impact on western Russian crude exports.

Implications for Freight

The change in Russian trade flows has significantly affected both the clean and dirty segments of freight. With Russian exports ton-miles of crude and refined products surging by 143% since 2021 (compared with 9% for the rest of the world), the ripple effect is being felt across the global tanker market.

Loosening Connection & Possible Repercussions

The recent decline in Greek owners loading Russian cargoes is loosening the connection between Russia and the rest of the market. If this disconnect continues to grow, it could result in a rise in the second-hand market for Greek ships.

G7 Stance and Future Considerations

The G7's current goal is to limit revenue without restricting trade. With no immediate signs of revising price caps, the continuing effect on freight rates may force a reevaluation of the existing policy.

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Thank you for your time.

Best regards,

Rory Proud

Co-Founder

[email protected]