WEEKLY UPDATE – 20/11/23

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 decreased by 8% and Asia-N. Europe prices decreased by 7%. 

Energy: China starts rebuilding oil inventories, impacting global oil dynamics. 

Geopolitics: Fragile ceasefire between Israel and Hamas in Gaza, mediated by the US, Egypt, and Qatar, entering its last days with uncertain prospects. 

Important movements 

Shipping: WinGD to supply methanol-fueled engines for green container vessels, reflecting a shift towards sustainable shipping solutions.

Energy: Oil prices remain depressed after OPEC+ decision to postpone a meeting, leading to a 4% plunge in prices. 

Geopolitics: Tensions in Kosovo are escalating, and the upcoming elections in Serbia on December 17 represent a potential point of further escalation.

What to watch out for 

Shipping: The evolution of green vessels and their impact in the shipping industry 

Energy: The potential long-term effects of depressed oil prices on global energy markets and OPEC+ future decisions and the impact of China’s renewed oil inventory building on global oil trade and pricing. 

Geopolitics: The role of US policy and international negotiations in shaping the future of the Israel-Hamas conflict. 

Moses Philip Felous
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