The growing stringency in environmental regulation has compelled the maritime industry into a major shift in fuels. Regional and national lawmakers are also demanding a faster energy transition attributed to a changing climate of public opinion, affecting both financiers and charterers. Shipowners today are hence experiencing increasing pressure to reduce their greenhouse gas footprint as …
Drewry’s composite World Container Index decreased by 2.1% to $9,279.46 per 40ft container this week. Our detailed assessment for Thursday, 3 March 2022 • The composite index decreased by 2.1% this week, but, remains 81% higher than a year ago. • The average composite index of the WCI, assessed by Drewry for year-to-date, is $9,438 …
Drewry: World Container Index Down 2.1% This Week Read More »
Tanker supply is set to “fall off a cliff” in 2023, resulting in what a leading shipping analyst describes as a “tremendous” fleet. Dag Kilen, head of research at Fearnleys AS, and a presenter at the Baltic Exchange Tanker Market Insights Webinar, part of International Energy Week, said that the tanker orderbook for 2023 and …
Two oil tankers owned and managed by Sovcomflot, the Russian maritime and freight shipping company blacklisted by the United States last week, are rerouting from their Canadian destinations, while a third is returning to Russia after discharging, according to tracking data and marine sources. The two tankers are the first Russian-owned oil vessels to change …
Russia-owned SCF oil tankers rerouting from Canada, returning to Russia Read More »
This short guide highlights some of the key issues that may affect the obligations and rights of contracting parties following developments in the Russo-Ukrainian conflict, with a focus on BIMCO clauses. In all circumstances, parties should carefully review their contractual terms for current and future fixtures and, if in any doubt, seek legal advice before …
The International Maritime Organization (IMO) will convene a special meeting next week to discuss the risks to seafarers and ships in the Black Sea and Sea of Azov after Russia’s invasion of Ukraine, the UN’s shipping agency said on Friday. Over 15 countries earlier this week called for an IMO meeting as concerns grow for …
UN shipping agency calls special Ukraine meeting amid safety fears for ships Read More »
EXMAR Netherlands BV, a fully owned subsidiary of EXMAR NV (“EXMAR”), yesterday bought back a nominal value of NOK 87 million in the EXMAR02 bond with ISIN NO0010852767 and maturity date 27 May 2022. In total, EXMAR has now bought back a nominal value of NOK 135 million of the EXMAR02 bond. Source: EXMAR The …
Asia’s front-month crack for 0.5% very low-sulphur fuel oil (VLSFO) dipped on Friday, but posted its steepest weekly jump in more than 1-1/2 years amid tight global supplies. The front-month VLSFO crack was at $27.50 per barrel against Dubai crude during Asian trading hours, compared with Thursday’s $29.39 per barrel, which was the highest since …
Asia Fuel Oil VLSFO crack posts biggest weekly gain in over 1-1/2 years Read More »
Demand for maritime connectivity has escalated over the past week as seafarers clamour to call home, reports digital communications specialist IEC Telecom. The company advises that its usage figures for the past month show maritime comms traffic has risen by 30%, most of it over the previous seven days and attributable to extra calls to …
La resolución otorga capacidad a las comunidades autónomas para poder establecer los periodos más adecuados en los que realizar la parada temporal por reducción de esfuerzo El Ministerio de Agricultura, Pesca y Alimentación ha publicado en el Boletín Oficial del Estado, el listado de días máximos subvencionables a cada buque por reducción de esfuerzo …
