Weekly update – 13/11/23

What’s happening this week in Shipping, Energy, and Geopolitics? SEG’s team examines news and trends from around the world. 

Key events 

Shipping: Asia-US West Coast prices increased by 6% to $1,711/FEU, and Asia-US East Coast prices climbed by 3% to $2,421/FEU. 

Energy: OPEC is considering an additional 1 million Bpd output cut, while Goldman Sachs predicts OPEC will keep oil in the $80-$100 price range. 

Geopolitics: The US federal pension fund will exclude investments in China and Hong Kong due to rising tensions. 

Important movements

Shipping: The first hydrogen-powered vessel preparing to enter service as part of a demonstration program. 

Energy: Africa’s oil production is set to decline next year while Venezuela approved a Shell offshore natural gas project. 

Geopolitics: Washington’s initiative aims to counter China’s initiative to Africa (Zimbabwe mines). 

What to watch out for

Shipping: Changes in Asia-US and Asia-Europe shipping rates and their impact on global trade. 

Energy: Implications of OPEC’s potential output cut on oil prices and trends in global energy, especially in Africa and Venezuela. 

Geopolitics: The UAE’s stance in the Israel-Hamas crisis along with its regional impact and potential implications related to the US’s investment exclusions.


Moses Philip Felous
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