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Baltic index extends losses on lower capesize, supramax rates
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, extended declines on Tuesday, hurt by falling rates across the capesize and supramax segments. The index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 28 points to 1,015 points. The capesize index was down…
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The Impact Of Russia And Ukraine War On Maritime Trade
Maritime trade constitutes a major part of the global economy as one of the important trade routes. Considering all commercial transport activities, the fact that approximately 85% of them are carried out by maritime routes emphasizes the importance of maritime trade. Thus, maritime trade routes have a strategic value. In particular, the Black Sea, where…
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US adds shipping major COSCO to list of companies working with China’s military
The US government has labeled shipping company COSCO, technology giant Tencent and battery manufacturing company CATL as ‘Chinese miliary company’, escalating further tension between the two countries. In a notice on Jan 7, Department of Defense blacklisted the companies under in accordance with the William M. (Mac) Thornberry National Defense Authorization Act. According to Section…
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Thriving in the Digital Age: How Data, Automation and AI are Enhancing OSV Operations
Inmarsat seminar Thriving in the Digital Age: A Blueprint for Success highlighted the rapid transformation of an increasingly connected, digitalised, and automated offshore industry while emphasising the importance of a motivated and well-trained workforce. Against a backdrop of persistent crewing issues, an ever-evolving regulatory framework, and fast-developing technology, the offshore industry is undergoing rapid transformation.…
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Evolving trade routes dampen demand for ultra large containers
According to industry data, the demand for Ultra Large Container Vessels (ULCVs) has decreased as shipping companies shift to smaller, more versatile vessels to accommodate changing trade patterns. The data from Braemar1 shows that just six container vessels capable of holding over 17,000 TEUs are scheduled for 2025, while 83 mid-sized ships with capacities of…
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Asia Fuel Oil: Spot differentials slip in bearish fundamentals
Spot differentials for fuel oil fell on Tuesday, weighed by plentiful supplies and slow demand, trade sources said. High sulphur fuel oil (HSFO) market extended declines from the previous session, with premiums for spot cargoes dropping amid a contracting market structure. Meanwhile, the very low sulphur fuel oil (VLSFO) market held in narrow premiums. Downstream…
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Ingenieros Navales y Oficiales de Máquinas para SEAPLACE
Ingenieros Navales y Oficiales de Máquinas para SEAPLACE ¡Año Nuevo, Horizontes Nuevos! ¡Estamos creciendo! Empezamos este 2025 abriendo posiciones para ingenier@s navales y Oficiales de Máquinas en Madrid y Vigo. Por qué nosotros? 1.- Desarrollarás proyectos que están transformando el futuro de la tecnología marina. 2.- Serás parte de un gran equipo, apasionado, unido e…
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First oil from ‘world class’ Gulf of Mexico project on track for mid-2025 as FPU nears completion
U.S.-headquartered LLOG Exploration is closing in on the first oil production from a deepwater project in the U.S. Gulf of Mexico as a floating production unit (FPU) destined for work at this oil development achieves refurbishment progress, which is expected to be wrapped up soon. The post First oil from ‘world class’ Gulf of Mexico…
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Levelling up maritime decarbonization game: Captain Arctic, a new solar sails/electric cruise ship concept
The year 2024 was marked by innovative projects in the maritime industry which witnessed the increased adoption of various wind propulsion solutions. Toward year’s end, a ‘revolutionary’ new solar sails-equipped cruise ship concept hit the headlines. The post Levelling up maritime decarbonization game: Captain Arctic, a new solar sails/electric cruise ship concept appeared first on…
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Phased FPSO restart underway as COSL prepares to drill next well in North Sea
Serica Energy is progressing with a phased restart of oil and gas production at an FPSO in the North Sea, which is working on its oil and gas assets on the UK Continental Shelf (UKCS). The post Phased FPSO restart underway as COSL prepares to drill next well in North Sea appeared first on Offshore Energy.