The Baltic Exchange’s main sea freight index dipped on Friday, notching its first weekly decline in seven, as the capesize vessel segment posted its worst week in eight months. The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, dropped 18 points, or 1.2%, to 1,452. The main index …
Baltic index marks first weekly drop in seven on capesize weakness Read More »
McQuilling Services is pleased to announce the release of its 2021-2025 Tanker Market Outlook. This 185-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes. The interaction of tanker demand and vessel supply variables is processed using advanced quantitative …
Capesize freight rates fell sharply with levels for voyages within the Pacific dropping more steeply than for trips out of the Atlantic, from the unseasonal highs registered during early January, dragged by low cargo demand and congestion at Chinese ports. The time charter equivalent (TCE) rate for a ship opening in North China to do …
Capesize rates plunge on low cargo demand; Pacific-Atlantic TCE spread widens Read More »
Banks had been selling their shipping loans with gusto through 2018 and 2019, but the arrival of the Covid-19 pandemic combined with stricter selectiveness on the part of potential buyers has drastically reduced the market for shipping loans. Record sales in 2018 and 2019 stemmed from the banks’ eagerness to reduce their shipping exposures, which …
The composite index decreased 1.7% this week, and 204.4% up when compared with same period of 2020. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,263 per 40ft container, which is $3,650 higher than the five-year average of $1,613 per 40ft container. Drewry’s composite World Container index decreased 1.7% to …
Drewry: World Container Index Down 1.7% on Week, but Remain 204.4% Higher on Year Read More »
Mitsui O.S.K. Lines, Ltd. Friday announced that the name of its wholly owned subsidiary Mitsui O.S.K. Kinkai, Ltd. will be changed to “MOL Drybulk Ltd.” effective April 1, 2021(“New Company”). 1. New Company name and integration of the commercial activities As announced on December 11, 2020, “MOL announces the integration of the Dry Bulk business, …
The launch of ABB’s CEMcaptain will help shipping comply with the sulphur emission regulations that were enforced in 2020, and keep in check their CO2 footprint. In January 2020, the low sulphur and nitrousoxide emission limits in the International Maritime Organization regulations became effective worldwide. CEMcaptain is a powerful emissions monitoring system from ABB designed …
BIMCO has joined the Neptune Declaration on Seafarer Well-being and Crew Change, and was encouraged to see the first publication from the Together in Safety initiative. The initiatives signal the need for increased collaboration in the face of great challenges. “Our industry is facing multiple crises: a crewing crisis and a piracy crisis – not …
BIMCO push for more cross-industry collaboration Read More »
Avenir LNG Limited (NOTC:AVENIR) announces the launch of the Avenir Allegiance; the world’s largest dual-purpose, LNG supply and bunkering vessel from CIMC Sinopacific Offshore & Engineering Co. (CIMC SOE). Avenir Allegiance was launched at 7am on January 27th 2021 at Zhoushan Changhong International Shipyard Co. Ltd. Due for delivery from CIMC SOE in the third …
Tototheo Maritime, a leading Cyprus-based maritime communications company, will be able to enjoy the benefits of seamless, reliable data connectivity services delivered by SES Networks. The five-year agreement between Tototheo Maritime and SES will be delivered via SES Networks’ Skala Global Platform, the two companies announced today. Tototheo Maritime’s customers will benefit from an efficient …
