The oil market is expected to tighten this year as new OPEC+ cuts take hold and the roll out of vaccines brings some balance back to the sector. But demand in 2021 is still going to be short of pre-Covid levels and there will be limited inventory restocking, little comfort to tanker operators. Expectations for …
Capesize freight rates hit a three-month high in January defying historical weak seasonality trends as supply bottlenecks caused by adverse weather at the Chinese coast and high commodity prices continued to drive demand for tonnage. S&P Global Cape T4 index for non-scrubber ships touched a 90-day high at $23,908/day on Jan. 12, in contrast to …
Dry bulk: Capesize rates spike defying weak seasonality trends Read More »
In December 2020, the signatories of the Poseidon Principles—currently twenty large banks—released their first Annual Disclosure Report. As the first paragraph of the report says: “This report represents the first time Signatories of the Poseidon Principles disclose the climate alignment of their ship finance portfolios. It marks a significant milestone in the joint efforts of …
The Baltic Exchange’s main sea freight index retreated on Friday, but still notched up an over 9% weekly rise driven by strong overall gains in the capesize segment. The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, shed 38 points, or 2.1%, to 1,754, but firmed 9.2% this …
Baltic index marks 5th straight weekly gain on capesize strength Read More »
The composite index inched up 0.3% this week, and 194.1% up when compared with same period of 2020. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,229 per 40ft container, which is $3,646 higher than the five-year average of $1,583 per 40ft container. Drewry’s composite World Container index inched up …
Drewry: World Container Index Up by 0.3% on Week, but 194.1% Year-on-Year Read More »
Shell Plc’s Singapore bunkering unit, Shell Eastern Trading Pte Ltd, moved up a notch to be the top marine fuel supplier in the world’s biggest ship refuelling hub in 2020, official data showed, while the overall number of suppliers steadied after years of declines. Singapore-based Sentek Marine & Trading Pte Ltd dropped one spot to …
Shell bunkering unit tops Singapore’s list of 2020 marine fuel suppliers Read More »
When the Gothenburg based shipowner company Furetank had to make a decision about which fuel to invest in, they opted for liquefied gas. A choice they’re very happy with today. The company is continuing the switch to gas and replacing their old tankers. The change has resulted in positive effects on Furetank’s employer brand and …
Investing in liquefied gas-fueled tankers is a sustainable investment for the future Read More »
Talks of a premium on freight for shipping dry bulk cargo into China is gaining ground after ships were held up for months at the anchorage of Chinese ports waiting to berth due to a trade spat with Australia. The wait to discharge cargo, some stretching as much as seven months after Chinese customs delayed …
Industry mulls premium on freight rates into China Read More »
Crew changes are once more becoming difficult as much of the world locks down again following the emergence of several new and more transmissible variants of Covid-19, warns crew specialist Danica. With travel corridors being closed and new travel restrictions imposed, airlines are once again cancelling or reducing flights which poses a problem for crew …
More crew change complications emerge as virus mutates Read More »
35 Danish suppliers in the international maritime industry will be exhibiting at the Virtual Pavilion of Denmark that runs alongside SMM DIGITAL 2021 from 2 February. The Danish suppliers bring technology, know-how and digital solutions that support the industry in the transition towards greener and safer shipping. The world-leading international marine event SMM is purely …
