We are an independent shipbroker with an approach focused on expertise rather than scale.
A globe going greener
It wasn’t too long ago that the likes of Extinction Rebellion and Greta Thunberg dominated the headlines, demanding more awareness of climate change and doing what they could to deliver the message that things would have to change to save our planet. I’m sure that the global pandemic isn’t what they had in mind, but its impact has been emphatic.
Much has been made of the impact on oil consumption. According to the IEA, global oil demand will fall by an average of 7.9 Mn bpd this year (almost 10 per cent), and will fail to recover entirely even through next year. Through Q2, demand declined by 16.4 Mn bpd. However, rising and consistent COVID-19 cases around the world adds an element of uncertainty to these numbers, with the potential imposition of lockdown measures threatening to drag these numbers lower.
In the longer term, the damage done to prices has resulted in the cancellation of new projects, while oil majors are writing off assets in a big push to go ‘green’ and reach carbon neutral targets with increasingly ambitious dates. As a result, dependence on oil is on the wane. More and more attention is being directed towards renewable energy sources, with peak oil demand being brought forward a few years as a result.
On the dry commodity side, the pandemic is responsible for driving a shift away from coal. According to Global Energy Monitor, a non-governmental organisation based in California, US, the first half of the year was the first ever six-month decline in global coal power capacity. In total, 18.3 GW of capacity was added across the world between January and June, which was more than offset by the 21.2 GW that was retired, most of which was decommissioned in Europe.
The bulk of additional capacity came online in China, which approved the most new plants in a six-month period since 2016.
However, while other coal-burning countries in Asia have started to take measures to reduce their coal consumption – South Korea and Japan have made pledges to start cutting – China has done no such thing.
Nevertheless, Vietnam is now weighing up the cancellation of up to 9.5 GW of capacity, while the future of 16.3 GW in Bangladesh is now under threat. Capacity is being retired at an accelerated rate, as these coal-fired power plants become even more expensive to run than facilities using renewable energy sources.
And, finally, there is our own industry. 2020 was supposed to be the year of scrubbers and a leap towards cleaner fuels. But the collapse in the global economy has had a damaging impact on global trade, particularly in the container sector, but the wet and dry bulk markets have been affected, too. As a result, shipping’s carbon emissions have fallen, but not because of cleaner fuels or new machinery. The IEA anticipates that global bunker demand will fall by 5 per cent year-on-year through 2020.
However, with world governing bodies now more environmentally conscious than before, there is increased pressure on shipping. The industry’s inclusion in the EU’s ETS (emissions trading system) is expected to be confirmed next month, and more attention than ever is being directed towards LNG and, beyond that, the likes of ammonia and biofuels.
Man Energy Solutions believes that it will have a two-stroke ammonia engine ready for delivery by 2024, before offering retrofits for existing ships the following year. Wartsila, meanwhile, is designing four-stroke engines, hoping to have an engine ready for testing by 2022. Yet, there are seemingly many drawbacks with ammonia, including the size of storage tanks for retrofits, as well as harmful emissions and high costs.
The EU has already called out the IMO for its lack of progress and clarity on its longer term targets, so it is down to the latter to govern where the industry goes from here.
Affinity Research LLP
Dry Cargo
Dry Cargo
Our dry bulk chartering teams in Sydney, Melbourne, Perth, Santiago, Lima, Montevideo, Buenos Aires, Singapore and London are cargo-focussed and they fix voyage, COA and time charter business on behalf of their clients with a wide range of ship owners.
For Atlantic business please contact Hans Bredrup
For Pacific business please contact David Oakley
Contact: Hans Bredrup
[email protected]
Contact: David Oakley
[email protected]
Finance
Finance
Affinity Financial Products Ltd is authorised by the FCA to provide advice and execution of regulated activities. We focus our efforts on asset-related transactions often structured as corporate share sales or mergers and acquisitions.
We work in partnership with investment banks providing specific, shipping-related advice.
Contact: Andrew Finn
[email protected]
+44(0)20 3142 0114
LNG
LNG
Our young and dynamic LNG team possess wide-ranging experience of spot and term charters working with all major LNG shipowners and charterers. The LNG team has close interaction with the Newbuilding and Sale & Purchase divisions with an unrivalled track record of contracting LNG newbuildings and in the sale and purchase of LNG assets.
We maintain up-to-date knowledge and an understanding of new technologies within the LNG sector to ensure that our clients can make the most suitable and cost-effective decisions on shipping solutions.
Contact: Joni Mackay
[email protected]
+44(0)20 3142 0133
Newbuilding
Newbuilding
Our Newbuilding team has concluded over 500 newbuildings of all types, including LNGCs, FSRUs, drillships, crude tankers, product tankers and dry cargo vessels. We have contracted in all major newbuilding centres globally, with particular focus on the Korean Shipyards.
Contact: Nick Wood
[email protected]
+44(0)20 3142 0111
Offshore
Offshore
Affinity Offshore is based out of our Oslo and Houston offices. The Team focuses on world-wide sale & purchase of offshore support vessels, as well as chartering – particularly in the Americas and Mediterranean/MENA regions.
Contact: Tor-Øyvind Bjørkli
[email protected]
+47 2109 8211
Research
Research
Our research department combines real time market information with econometric modelling and the latest technology.
Contact: Sevita Kondyliou
[email protected]
+44(0)20 3142 0182
S & P
S & P
Our Sale & Purchase team has extensive experience of working with private clients, national shipping companies, major corporates, oil companies, grain houses and institutional investors. We provide a cradle to grave services across all shipping sectors. We operate from London, Singapore and Seoul to give 24-hour coverage of the markets, working for both newbuilding and second-hand buyers.
Contact: Toby English
[email protected]
+44(0)20 3142 0123
Tankers
Tankers
Our established tanker chartering teams serve the industry from London, Houston and Santiago delivering a highly proficient spot chartering service with a prime position in the fuel oil market. The team has close relationships with oil majors, national oil companies, oil traders and major ship owners and operators.
Our ethos for operations and post-fixture is simple: these roles are as important to us as the chartering/commercial function, and we continue to apply those same principles of professional ship broking throughout the life of each fixture.
Contact: Tim Gurdon
[email protected]
+44(0)20 3142 0142
Valuations
Valuations
We provide transparent, objective ship valuation service to major owners, banks and other financial institutions at short notice and a daily basis. We provide a retainer service for regular fleet valuations.
Contact: Ben Pusey
[email protected]
+44(0)20 3142 0125
Dry Cargo
Our dry bulk chartering teams in Sydney, Melbourne, Perth, Santiago, Lima, Montevideo, Buenos Aires, Singapore and London are cargo-focussed and they fix voyage, COA and time charter business on behalf of their clients with a wide range of ship owners.
For Atlantic business please contact Hans Bredrup
For Pacific business please contact David Oakley
Contact: Hans Bredrup
[email protected]
+56 99 887 3036
Contact: David Oakley
[email protected]
+61 2 9937 8806
Finance
Affinity Financial Products Ltd is authorised by the FCA to provide advice and execution of regulated activities. We focus our efforts on asset-related transactions often structured as corporate share sales or mergers and acquisitions.
We work in partnership with investment banks providing specific, shipping-related advice.
Contact: Andrew Finn
[email protected]
+44(0)20 3142 0114
LNG
Our young and dynamic LNG team possess wide-ranging experience of spot and term charters working with all major LNG shipowners and charterers. The LNG team has close interaction with the Newbuilding and Sale & Purchase divisions with an unrivalled track record of contracting LNG newbuildings and in the sale and purchase of LNG assets.
We maintain up-to-date knowledge and an understanding of new technologies within the LNG sector to ensure that our clients can make the most suitable and cost-effective decisions on shipping solutions.
Contact: Joni Mackay
[email protected]
+44(0)20 3142 0133
Newbuilding
Our Newbuilding team has concluded over 500 newbuildings of all types, including LNGCs, FSRUs, drillships, crude tankers, product tankers and dry cargo vessels. We have contracted in all major newbuilding centres globally, with particular focus on the Korean Shipyards.
Contact: Nick Wood
[email protected]
+44(0)20 3142 0111
Offshore
Affinity Offshore is based out of our Oslo and Houston offices. The Team focuses on world-wide sale & purchase of offshore support vessels, as well as chartering – particularly in the Americas and Mediterranean/MENA regions.
Contact: Tor-Øyvind Bjørkli
[email protected]
+47 2109 8211
Research
Our research department combines real time market information with econometric modelling and the latest technology.
Contact: Sevita Kondyliou
[email protected]
+44(0)20 3142 0182
S & P
Our Sale & Purchase team has extensive experience of working with private clients, national shipping companies, major corporates, oil companies, grain houses and institutional investors. We provide a cradle to grave services across all shipping sectors. We operate from London, Singapore and Seoul to give 24-hour coverage of the markets, working for both newbuilding and second-hand buyers.
Contact: Toby English
[email protected]
+44(0)20 3142 0123
Tankers
Our established tanker chartering teams serve the industry from London, Houston and Santiago delivering a highly proficient spot chartering service with a prime position in the fuel oil market. The team has close relationships with oil majors, national oil companies, oil traders and major ship owners and operators.
Our ethos for operations and post-fixture is simple: these roles are as important to us as the chartering/commercial function, and we continue to apply those same principles of professional ship broking throughout the life of each fixture.
Contact: Tim Gurdon
[email protected]
+44(0)20 3142 0142
Valuations
We provide transparent, objective ship valuation service to major owners, banks and other financial institutions at short notice and a daily basis. We provide a retainer service for regular fleet valuations.
Contact: Ben Pusey
[email protected]
+44(0)20 3142 0125
Click here for our terms of business
Floor 44
The Leadenhall Building
122 Leadenhall Street
London EC3A 8EE
T +44 (0)203 142 0100
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LONDON
Floor 44
The Leadenhall Building
122 Leadenhall Street
London EC3A 8EE
T +44 (0)203 142 0100
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72 Anson Road
#13–03 Anson House
Singapore
079911
T +65 6805 8760
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SINGAPORE
72 Anson Road
#13–03 Anson House
Singapore
079911
T +65 6805 8760
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Suite 5, Level 1
200 Toorak Road
South Yarra
VIC 3141
Australia
T +61 398 671 466
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MELBOURNE
Suite 5, Level 1
200 Toorak Road
South Yarra
VIC 3141
Australia
T +61 398 671 466
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8/38 Colin Street
West Perth
WA 6005
Australia
T +61 892 260 618
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PERTH
8/38 Colin Street
West Perth
WA 6005
Australia
T +61 892 260 618
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1st Floor
64 Alexander Street
Crows Nest, NSW 2065
Australia
T +61 299 378 800
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SYDNEY
1st Floor
64 Alexander Street
Crows Nest, NSW 2065
Australia
T +61 299 378 800
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#703, Shin-A Building
50 Seosomun-ro 11gil
Jung-gu, Seoul
South Korea
100-752
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SEOUL
#703, Shin-A Building
50 Seosomun-ro 11gil
Jung-gu, Seoul
South Korea
100-752
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6/F Kimberley Plaza
45-47 Kimberley Road
Tsim Sha Tsui. Kowloon
Hong Kong
T +852 2154 2237
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HONG KONG
6/F Kimberley Plaza
45-47 Kimberley Road
Tsim Sha Tsui. Kowloon
Hong Kong
T +852 2154 2237
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1301 McKinney Street
Suite 2975
Houston, Texas
77010, USA
T +1 832 925 7500
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HOUSTON
1301 McKinney Street
Suite 2975
Houston, Texas
77010, USA
T +1 832 925 7500
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Marco Polo Parkside Building 1204,
Anli Road No. 80,
Chaoyang District,
Beijing, China, 100101
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BEIJING
Marco Polo Parkside Building 1204,
Anli Road No. 80,
Chaoyang District,
Beijing, China, 100101
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Jirón Cruz del Sur 140, of. 1712,
Santiago de Surco, Lima,
Perú
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LIMA
Jirón Cruz del Sur 140, of. 1712,
Santiago de Surco, Lima,
Perú
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Augusto Leguia Norte 100
Office 710
Las Condes
7550155 Santiago
Chile
T +56 22 352 7100
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SANTIAGO
Augusto Leguia Norte 100
Office 710
Las Condes
7550155 Santiago
Chile
T +56 22 352 7100
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Misiones St. 1372,
1st Floor "De Los Patricios" Building,
11000 Montevideo, Uruguay
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MONTEVIDEO
Misiones St. 1372,
1st Floor "De Los Patricios" Building,
11000 Montevideo, Uruguay
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Viamonte 174, 4to B,
C1053ABD Buenos Aires,
Argentina
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BUENOS AIRES
Viamonte 174, 4to B,
C1053ABD Buenos Aires,
Argentina
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Inkognitogaten 35,
0256 Oslo
Norway
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OSLO
Inkognitogaten 35,
0256 Oslo
Norway
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