Shipping Market Roundup: Capesize Vessel Sale, LSFO Arbitrage, and Hormuz Strait Traffic

## Capesize Vessel Sale to Chinese Interests According to the weekly shipping market report from Advanced Shipping & Trading, the Capesize vessel "Aliado" (177,000 DWT, built 2005) has been committed to Chinese interests. The vessel, which is classed by Namura & Sasebo in Japan, has a remaining lifespan of 5 years on its special survey and 8 years on its drydocking. ## Singapore LSFO Arbitrage Arrivals Expected to Drop Hellenic Shipping News reports that Singapore's low-sulfur fuel oil (LSFO) arrivals from Western markets are expected to decline in March. This is due to unviable arbitrage economics for bringing cargoes from Europe, as well as ongoing supply disruptions from the Middle East conflict. "The world's largest bunkering hub of Singapore is now expected to see a drop of around a third in its March LSFO arbitrage arrivals from the West," the article states. ## Shipping Traffic Persists Through Hormuz Strait Despite periodic attacks on shipping in the Strait of Hormuz by Iranian forces, nearly 100 ships have passed through the critical chokepoint since the start of March, according to data analyzed by BBC Verify. "While some energy and everyday goods are still moving through one of the world's busiest shipping routes, the conflict in the region continues to pose risks for commercial vessels," the Hellenic Shipping News article notes. ## Ship Recycling Pauses for Eid al-Fitr The global ship recycling industry is currently on pause for the Eid al-Fitr holiday, reports GMS. Yards in key ship recycling hubs like Chattogram, Gadani, Alang, and Aliağa have temporarily halted operations to observe the religious festival. "Eid al-Fitr has arrived to greet the world's ship recycling markets this week, and as is tradition, it came bearing the gift of silence," the article states. ## Intra-Asia Container Shipping Rates Rise Drewry's Intra-Asia Container Index (IACI) saw a 5% increase in the third week of March, settling at $646 per 40ft container. This reflects ongoing strength in regional container shipping demand and rates, according to the Hellenic Shipping News report.