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Governments Expected to Agree on World’s First Levy on Shipping Emissions At Upcoming IMO Meeting

Support is growing for a global tax on shipping emissions, which is bound to be agreed upon at a key UN meeting next week. Over 50 countries across Europe, Africa, Asia, the Pacific and the Caribbean, representing a majority of the world’s fleet, are rallying behind a proposal to charge commercial vessels a flat fee …

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FBX Index February 2025: No peace of mind for shipping as industry prepares for new turmoil ahead

The first few weeks of 2025 appeared to show positive signs for beleaguered shippers. The strike on the US East Coast was averted and a ceasefire in Gaza gave hope for a resolution of the Red Sea crisis. However, the trade war kicked off in the beginning of February by US President Trump will create …

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Tankers: VLCC Market Quite Active

Clean LR2 MEG LR2’s saw an uptick in enquiry this week leading to a gentle upturn in freight levels. TC1 75kt MEG/Japan climbed 22.5 points to WS125.56 and TC20 90kt MEG/UK-Continent went from $3.3m to $3.63m. West of Suez, Mediterranean/East LR2’s of TC15 remained quiet this week and the index dropped 5% to $2.99m. LR1 …

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