The composite index increased 2% this week to $5,340.30 per 40ft container, its highest level since 2011. Rates from Rotterdam to New York soared 8% or $167 and reached $2,283 per 40ft container. Freight rates on Shanghai to Genoa lane increased 5% or $380 to reach $8,792 for 40ft box. Similarly, spot rates from Rotterdam …
Drewry: World Container Index Reaches Highest Level Since 2011 Read More »
Hope springs eternal in dry bulk shipping — the largest shipping market in the world by volume. Over the past decade, each year has started out with bullish proclamations on why the market would finally turn. And then, it didn’t. Only a few weeks into 2021, it’s clear this year will be different for many …
Dry bulk shipping revs up after ‘extraordinarily bad decade’ Read More »
DNV GL has awarded an Approval in Principle (AIP) to Korea Shipbuilding and Offshore Engineering (KSOE) for a wing-sail auxiliary propulsion system for ships – the result of a joint research project between KSOE and SK Shipping. The virtual award ceremony recently took place in the presence of Hyunjoon Shin, Head of the Future Ship …
DNV GL awards AIP to KSOE for wing sail propulsion system Read More »
Shanghai International Exchange, or INE, completed the first physical delivery outside of China against its tax-free very low sulfur bunker fuel oil futures on Jan. 19-21 in Singapore, it said Jan. 22. The exchange said the successful delivery paves the way to apply the instrument to its other futures, such as technically specified rubber 20 …
INE completes first physical VLSFO overseas delivery in Singapore Read More »
On the occasion of the CIMer interministerial sea committee, Jean Castex, France’s prime minister, visited the CMA CGM JAACQUES SAADE, the flagship of the CMA CGM Group, a world leader in shipping and logistics, alongside Rodolphe Saadé, CMA CGM’s Chairman & CEO, and Édouard Philippe, mayor of Le Havre and a former prime minister of …
The technology group Wärtsilä has signed a five year extension to its Optimised Maintenance agreement with Golar Management Norway, the operator and manager of a fleet of LNG Carrier and Floating Storage and Regasification Unit (FSRU) vessels. The agreement covers a total of 16 ship installations; 14 with Wärtsilä 50DF dual-fuel engines, plus 2 with …
Container shipping consortium THE Alliance said Jan. 21 it would continue suspending one of its five trans-Atlantic services for 2021 as demand and rates for the route lagged more lucrative services from Asia. The Alliance added that a restructuring of the remaining four trans-Atlantic would commence from the second quarter, including visits to ports services …
The Alliance suspends AL1 trans-Atlantic service for 2021 as demand lags trans-Pacific Read More »
Containers are loaded on HMM Forward, a 4,600-TEU vessel that will depart from Busan on Jan. 23. HMM announced on Jan. 21 that it will deploy an extra loader on Jan. 23 to transport Korean companies’ export products to the United States. The 4,600-TEU container ship HMM Forward is scheduled to depart from Hyundai Pusan …
HMM Deploys 9th Extra Loader to Meet Surge in Export Cargo Read More »
DNV GL has awarded an Approval in Principle (AIP) to Korea Shipbuilding and Offshore Engineering (KSOE) for a wing-sail auxiliary propulsion system for ships. The wind-powered auxiliary propulsion system is the result of a joint research project from KSOE, the shipbuilding holding company of Hyundai Heavy Industries Group, and SK Shipping, to develop wind-powered eco-friendly …
Heerema has received Statements of Feasibility from DNV GL for two of its “silent foundations” concepts, on which the company has been working together with the University of Dundee. The concepts include helical or screw piles and so-called push-in piles, which could be installed without loud hammering that can be harmful to marine life and …
