We are an independent shipbroker with an approach focused on expertise rather than scale.
Spiralling upwards
The environment for US interest rates keeps turning more hawkish as the weeks go by. On Wednesday, the December CPI displayed a 7 per cent increase y-o-y, marking new multi-year highs. With energy prices more stable in December, core items turned out to be the main driver of the print. Higher levels and core drivers point to persistent inflationary dynamics.
On the Federal Reserve side, commentary is turning more hawkish too. In last week’s testimony in front of the Senate, the Fed chairman reiterated availability to hike this year if inflation warrants it, and pointed to balance sheet runoff once tapering has been completed.
Since then, a flurry of officials has publicly commented on the number of hikes, with several members pointing to the possibility of four hikes, with a cycle starting as early as March.
Inflation data remain as strong as they have been since summer, but the Fed has finally adapted to the new reality. Front-end rates are pricing hikes correctly, but real yields remain in firmly negative territory and the US curve remains very flat, suggesting the market is pricing some “back to normal” once 2022 hikes are gone. As such, there could be more room for adjustment in rates with consequently more volatility in global markets.
Elsewhere, China's economy rebounded in 2021 with its best growth in a decade –8.1 per cent – helped mostly by robust exports.
Still, there are signs that momentum is slowing on weakening consumption and a property downturn, pointing to the need for more policy support.
Growth in Q4 2021 hit a one-and-a-half-year low, government data showed on Monday, shortly after the central bank moved to prop up the economy with a cut to a key lending rate for the first time since early 2020.
Several Chinese cities are going on high alert ahead of the Lunar New Year holiday travel season, as the Omicron variant reached more areas, including the capital Beijing, which means that the downward pressure on China's economy is still relatively big, and growth of residents' employment and income is restricted.
A bright spot was industrial output, up an annual 4.3 per cent in December, picking up from a 3.8 per cent increase in November. In fact, China's refinery output hit a new record in 2021, as did aluminium and coal production.
Booming shipments to coronavirus-hit economies overseas were a key boost to China's growth last year, with net exports accounting for more than a quarter of GDP growth in Q4 2021 and the country logging its biggest trade surplus in 2021 since records started in 1950.
And, as the global economy continues to improve, it can be expected that there should be more demand for goods, meaning more international trade for China in 2022.
Continued semiconductor shortages will be a challenge for manufacturers and exporters of many goods, from home appliances to vehicles, from smartphones to small electronic gadgets. This cannot be expected to be solved in the very short term and, as such, prices of these goods will either have to go up or the quality or functionality may have to come down.
Meanwhile, environmental pressures might arise. Coal imports into China were strong in 2021, and this could extend into 2022 before China beefs up its solar and wind power to replace coal, as its policies allow peak carbon emissions in 2030 before reducing them to reach carbon zero by 2060.
On the geopolitical front, several commodity markets are expected to be impacted by the outcome of Russia and NATO security talks in light of the Ukraine crisis. Last week’s session was mostly inconclusive, as the objectives of the two sides are still far and, on Thursday, public statements among the two sides turned harsher.
The Russian foreign minister suggested talks may be on hold and its US counterpart responded clarifying that Russia’s demands can’t be matched. More explicit distance among the two sides increases risks of an escalation and a US response via economic sanctions. On the positive side, Russia still has to see the draft of the NATO security proposal, due next week, after which talks may resume.
Still, any interruptions to Russia's gas supply to Europe would exacerbate an energy crisis caused by a shortage of the fuel, especially given the tight availability of US spare capacity to substitute the relatively large volumes from Russia.
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
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]
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 8210
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: Ben Pusey
[email protected]
+44(0)20 3142 0125
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
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
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 8210
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: 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
View full office info
LONDON
Floor 44
The Leadenhall Building
122 Leadenhall Street
London EC3A 8EE
T +44 (0)203 142 0100
View full office info
72 Anson Road
#13–03 Anson House
Singapore
079911
T +65 6805 8760
View full office info
SINGAPORE
72 Anson Road
#13–03 Anson House
Singapore
079911
T +65 6805 8760
View full office info
Suite 5, Level 1
200 Toorak Road
South Yarra
VIC 3141
Australia
T +61 398 671 466
View full office info
MELBOURNE
Suite 5, Level 1
200 Toorak Road
South Yarra
VIC 3141
Australia
T +61 398 671 466
View full office info
8/38 Colin Street
West Perth
WA 6005
Australia
T +61 892 260 618
View full office info
PERTH
8/38 Colin Street
West Perth
WA 6005
Australia
T +61 892 260 618
View full office info
1st Floor
64 Alexander Street
Crows Nest, NSW 2065
Australia
T +61 299 378 800
View full office info
SYDNEY
1st Floor
64 Alexander Street
Crows Nest, NSW 2065
Australia
T +61 299 378 800
View full office info
#703, Shin-A Building
50 Seosomun-ro 11gil
Jung-gu, Seoul
South Korea
100-752
View full office info
SEOUL
#703, Shin-A Building
50 Seosomun-ro 11gil
Jung-gu, Seoul
South Korea
100-752
View full office info
6/F Kimberley Plaza
45-47 Kimberley Road
Tsim Sha Tsui. Kowloon
Hong Kong
T +852 2154 2237
View full office info
HONG KONG
6/F Kimberley Plaza
45-47 Kimberley Road
Tsim Sha Tsui. Kowloon
Hong Kong
T +852 2154 2237
View full office info
1301 McKinney Street
Suite 2975
Houston, Texas
77010, USA
T +1 832 925 7500
View full office info
HOUSTON
1301 McKinney Street
Suite 2975
Houston, Texas
77010, USA
T +1 832 925 7500
View full office info
Marco Polo Parkside Building 1204,
Anli Road No. 80,
Chaoyang District,
Beijing, China, 100101
View full office info
BEIJING
Marco Polo Parkside Building 1204,
Anli Road No. 80,
Chaoyang District,
Beijing, China, 100101
View full office info
Jirón Cruz del Sur 140, of. 1712,
Santiago de Surco, Lima,
Perú
View full office info
LIMA
Jirón Cruz del Sur 140, of. 1712,
Santiago de Surco, Lima,
Perú
View full office info
Room 04, 10/F, 500
Yan'an West Road,
Shanghai,
People's Republic of China
View full office info
SHANGHAI
Room 04, 10/F, 500
Yan'an West Road,
Shanghai,
People's Republic of China
View full office info
Augusto Leguia Norte 100
Office 710
Las Condes
7550155 Santiago
Chile
T +56 22 352 7100
View full office info
SANTIAGO
Augusto Leguia Norte 100
Office 710
Las Condes
7550155 Santiago
Chile
T +56 22 352 7100
View full office info
Misiones St. 1372,
1st Floor "De Los Patricios" Building,
11000 Montevideo, Uruguay
View full office info
MONTEVIDEO
Misiones St. 1372,
1st Floor "De Los Patricios" Building,
11000 Montevideo, Uruguay
View full office info
Viamonte 174, 4 to B,
C1053ABD Buenos Aires,
Argentina
View full office info
BUENOS AIRES
Viamonte 174, 4 to B,
C1053ABD Buenos Aires,
Argentina
View full office info
Rua Barão de Cotegipe, 443, room 1310
Porto de Gale Business Center
Rio Grande
Brazil
View full office info
RIO GRANDE
Rua Barão de Cotegipe, 443, room 1310
Porto de Gale Business Center
Rio Grande
Brazil
View full office info
Fascinatio Boulevard 742
2909 VA Capelle aan den IJssel
The Netherlands
View full office info
ROTTERDAM
Fascinatio Boulevard 742
2909 VA Capelle aan den IJssel
The Netherlands
View full office info
Inkognitogaten 35,
0256 Oslo
Norway
View full office info
OSLO
Inkognitogaten 35,
0256 Oslo
Norway
View full office info