We are an independent shipbroker with an approach focused on expertise rather than scale.
Push It To The Limit
US President Joe Biden and House Republican Speaker Kevin McCarthy will meet to discuss the debt ceiling on Monday, less than two weeks before a 1 June deadline, after which the Treasury expects the federal government will struggle to pay its debts. A failure to lift the debt ceiling would trigger a default, likely sparking chaos in financial markets and a spike in interest rates.
In the Treasuries market, debt ceiling concerns have created large distortions in the short-end of the yield curve as investors avoid bills that come due when the Treasury is at risk of running out of funds.
The yield on the one-month Treasury bill jumped by 15 basis points to 5.6677 per cent on Monday. Two-year yields last stood at 4.2429 per cent, pulling away from a recent two-month high, while the 10-year yield also dipped to 3.6574 per cent.
On Friday, reports that the debt ceiling negotiations had reached an impasse rattled markets even as Federal Reserve Chairman Jerome Powell said US interest rates might not need to rise as much given the tighter credit conditions from the banking crisis.
Currently, futures are pricing in close to a 90 per cent chance that the Fed will keep rates unchanged at its next meeting in June, and a total of almost 50 basis points of cuts by the end of the year.
That has knocked the dollar off a two-month top against a basket of major peers, though the index found some support from safe-haven bids and was last 0.15 per cent higher at 103.19.
Meanwhile, the US bank system has been rattled once again, as Treasury Secretary Janet Yellen reportedly warned that more mergers may be necessary after a series of bank failures.
Still, despite slowing, US hard data has continued to hold up well, while surveys like Empire Manufacturing or NY Fed Services Business Activity have turned more negative.
Looking East, China’s data is slowing, as weaker PMIs, credit data and inflation disappoint the reopening narrative for now. In addition, capital outflows continue, and investors remain hesitant to invest amid a weakening macro picture, potentially easier monetary policy and ongoing geopolitical tensions.
USD-CNH broke through 7.0 last week, opening the door for further CNH weakness up to 7.30 and for potential PBC action, either through lower rates or currency interventions.
Overall, market sentiment remains bearish, as EPS growth expectations are near the bottom, cash allocations remain elevated and China optimism fades, according to BofA’s Global Fund Manager survey.
Markets are also digesting the implications of the Group of Seven's "de-risk, not decouple" approach to China and supply chains flagged at the group's summit on Sunday. Joe Biden said at the summit that G7 nations were more unified than ever in terms of "resisting economic coercion together and countering harmful practices that hurt our workers."
Still, Biden suggested a shift in US-China relations could occur soon, echoing his comment to reporters before his departure.
And on the issue of tensions between China and Taiwan, Biden said there was a clear understanding among most of the allies that, if China were to act unilaterally against Taiwan, there would be a response.
He also added that the US and G7 allies would not trade in materials that would allow China to build weapons of mass destruction, but insisted that it was not a hostile act.
Still on the geopolitical front, Russia claims to have achieved full control over Bakhmut, a city of limited strategic importance, where a Russian victory would be more symbolic.
As Ukraine’s spring offensive approaches, allies are stepping up their support. In early May, the UK became the first country to supply Kyiv with long-range cruise missiles, which enabled Ukraine to strike two industrial sites in the Russian-held Luhansk. The UK has already promised to send more but they have also highlighted that the missiles should not be used to attack targets in Russian territory.
In the context of G7 meeting in Hiroshima, US president Joe Biden announced a new USD 375 Mn support package for Ukraine. In addition, the US signalled that it would not block their allies’ export of F-16 fighter jets to Ukraine.
Despite rising optimism regarding Ukraine’s upcoming offensive, it seems better to err on the side of caution. Although Russia’s winter offensive was not that successful, they have fortified their defence lines in the anticipation of Ukraine’s counteroffensives. As a result, these might deter Ukraine from pushing back so hard they encounter heavy combat losses. Hence, a protracted battlefield stalemate remains the main scenario.
Affinity Research LLP
Carbon
Carbon
Using tailored analytics platforms, we offer client-specific advisory and trading services across the global carbon markets. Contributing to hedging strategies, sustainability reporting and financing requirements, our aim is to assist clients in managing their financial exposure to the approaching energy transition.
Contact: Hugo Wilson
[email protected]
+44(0)20 3142 0121
Containers
Containers
Our specialised Container team in South America arranges freight & logistic solutions primarily for the mining and perishable industries.
Contact: Andrea Meza Allemant
[email protected]
+51 99 115 2393
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 Rahul Khanna
Contact: Hans Bredrup
[email protected]
Contact: Rahul Khanna
[email protected]
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]
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: Tom Morrison
[email protected]
+44(0) 20 3142 0128
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: Felix Hargreaves
[email protected]
+44(0)20 3142 0118
Carbon
Using tailored analytics platforms, we offer client-specific advisory and trading services across the global carbon markets. Contributing to hedging strategies, sustainability reporting and financing requirements, our aim is to assist clients in managing their financial exposure to the approaching energy transition.
Contact: Hugo Wilson
[email protected]
+44(0)20 3142 0121
Containers
Our specialised Container team in South America arranges freight & logistic solutions primarily for the mining and perishable industries.
Contact: Andrea Meza Allemant
[email protected]
+51 99 115 2393
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 Rahul Khanna
Contact: Hans Bredrup
[email protected]
+56 99 887 3036
Contact: Rahul Khanna
[email protected]
+61 418 448 677
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]
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: Tom Morrison
[email protected]
+44(0) 20 3142 0128
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: Felix Hargreaves
[email protected]
+44(0)20 3142 0118
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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
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West Perth
WA 6005
Australia
T +61 892 260 618
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PERTH
8/38 Colin Street
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WA 6005
Australia
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Suite 3.05, Level 3
9-11 Claremont Street
South Yarra
VIC 3141, Australia
T +61 398 671 466
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MELBOURNE
Suite 3.05, Level 3
9-11 Claremont Street
South Yarra
VIC 3141, Australia
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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
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7/455 Brunswick St
Fortitude Valley
Brisbane
QLD 4006
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BRISBANE
7/455 Brunswick St
Fortitude Valley
Brisbane
QLD 4006
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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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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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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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Room 04, 10/F, 500
Yan'an West Road,
Shanghai,
People's Republic of China
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SHANGHAI
Room 04, 10/F, 500
Yan'an West Road,
Shanghai,
People's Republic of China
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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, 4 to B,
C1053ABD Buenos Aires,
Argentina
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BUENOS AIRES
Viamonte 174, 4 to B,
C1053ABD Buenos Aires,
Argentina
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Rua Barão de Cotegipe, 443, room 1310
Porto de Gale Business Center
Rio Grande
Brazil
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RIO GRANDE
Rua Barão de Cotegipe, 443, room 1310
Porto de Gale Business Center
Rio Grande
Brazil
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Fascinatio Boulevard 742
2909 VA Capelle aan den IJssel
The Netherlands
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ROTTERDAM
Fascinatio Boulevard 742
2909 VA Capelle aan den IJssel
The Netherlands
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Inkognitogaten 35,
0256 Oslo
Norway
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OSLO
Inkognitogaten 35,
0256 Oslo
Norway
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104-111 21st St
West Vancouver
BC V7V 0C2
Canada
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VANCOUVER
104-111 21st St
West Vancouver
BC V7V 0C2
Canada
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Kaigaten 12, 2nd floor
Bergen 5016
Norway
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BERGEN
Kaigaten 12, 2nd floor
Bergen 5016
Norway
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Rua Duque Estrada 36/101 Rio de Janeiro, 22451-090, Brazil
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RIO DE JANEIRO
Rua Duque Estrada 36/101 Rio de Janeiro, 22451-090, Brazil
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