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El puerto de Vigo cierra 2024 con unos datos “formidables” que presagian un buen 2025

Todos los datos del Puerto de Vigo han sido positivos, tanto en tráficos como a nivel económico, lo que permitirá ejecutar “con la máxima diligencia y rapidez” diferentes actuaciones.Vigo es el cuarto puerto de España con mayores conexiones marítimas con América, África o Asia, “lo que nos permite posicionarnos a nivel mundial a precios muy …

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Baltic index snaps 13-day losing streak on larger vessel gains

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a thirteen-day losing streak on Friday, supported by strong rates across the capesize and panamax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 20 points to 735 points, …

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McQuilling Services Tanker Market Outlook Sees Base Case Call For 2025 TCEs at $51,600/day for VLCCs

McQuilling Services is pleased to announce the release of its 28th anniversary edition, 2025-2029 Tanker Market Outlook. This 183-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 …

McQuilling Services Tanker Market Outlook Sees Base Case Call For 2025 TCEs at $51,600/day for VLCCs Read More »

Tanker – Weekly Market Monitor: Dirty Oil Flows and Tonne Days (Arabian Gulf – Far East)

January closed with weakening momentum in the dirty freight market, as the growth rate of demand tonne-days has yet to support a notable recovery. However, there are encouraging signs on the supply side, with vessel availability in the Arabian Gulf (AG) trending downward. Additionally, January saw an improvement in AG dirty oil shipments to Far …

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Shipowners consider preparing ships for future decarbonizing retrofits: MPC Capital

With uncertain commercial environments for alternative bunker fuels amid tightening environment regulations, some shipowners with conventional vessel orders are planning to defer the decision on which fuel to use and instead preparing for future retrofits to cut greenhouse gas emissions, Constantin Baack, CEO of German investor MPC Capital, told S&P Global Commodity Insights. Half of …

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ABS Issues Approval in Principle for Ammonia FPSO with Carbon Capture from MODEC and TOYO

A new design for an ammonia floating production storage and offloading (FPSO) unit that features onboard carbon capture technology for blue ammonia production has received approval in principle (AIP) from ABS. The design comes from MODEC, Inc. (MODEC), in collaboration with Toyo Engineering Corporation (TOYO). ABS completed design reviews based on class and statutory requirements. …

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GE Shipping Standalone December 2024 Net Sales at Rs 878.50 crore, down 11.81% Y-o-Y

Reported Standalone quarterly numbers for Great Eastern Shipping Company are: Net Sales at Rs 878.50 crore in December 2024 down 11.81% from Rs. 996.18 crore in December 2023. Quarterly Net Profit at Rs. 678.63 crore in December 2024 up 39.13% from Rs. 487.77 crore in December 2023. EBITDA stands at Rs. 875.26 crore in December …

GE Shipping Standalone December 2024 Net Sales at Rs 878.50 crore, down 11.81% Y-o-Y Read More »

Mitsui O.S.K. Lines: Seasonality to Keep Capesize Dry Bulk Rates Down During the First Quarter

The following is a summary of business conditions including revenue and ordinary profit/loss per business segment. (A)Dry Bulk Business The Capesize bulker market rates remained firm in October and November, due to steady iron ore shipments from Western Australia and Brazil as well as strong bauxite shipments from West Africa. However, in December, iron ore …

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Philippines takes steps to enhance maritime liability and compensation laws

A national workshop in Manila, Philippines (27–31 January) aims to boost the understanding and implementation of IMO liability and compensation regime , in particular the 2010 HNS Convention, 2001 Bunkers Convention, and 2007 Nairobi Wreck Removal Convention. IMO’s liability and compensation framework covers a range of international conventions, legal instruments and guidelines, which are vital …

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