The Baltic Exchange’s main sea freight index fell on Friday and was on its way for its first weekly decline in five weeks on Friday, pressured by a dip in the capesize segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, declined 37 points, or 1.9%, to 1,890. The …
Baltic index en route to weekly fall as capesize dips Read More »
This week’s special focus is on the growth of VLCC AG supply for the first two weeks of September, as depicted in the left chart. The data shows promising signs of increasing supply, while WS rates are striving to establish firmer momentum. On the cargo side, illustrated in the right chart, the outlook appears more …
Lenders to shipping are increasingly considering climate performance when setting loan margins, a study has found. However, their focus remains on the corporate level rather than the asset level, potentially limiting their ability to mitigate transition risks. The Lower margins are tied to companies’ climate performance rather than to low-carbon assets study by Marie Fricaudet, …
Drewry’s World Container Index decreased 13% to $4,168 per 40ft container this week. Our detailed assessment for Thursday, 12 September 2024 The latest Drewry WCI composite index of $4,168 per 40ft container is 60% below the previous pandemic peak of $10,377 in September 2021, but it is 193% more than the average 2019 (pre-pandemic) rate …
Drewry: World Container Index Down 13% Last Week Read More »
The Nippon Foundation-GEBCO Seabed 2030 Project has entered into a new partnership with Plymouth Marine Laboratory (PML), a leading UK-based marine research institute which leads and contributes to a range of international initiatives, particularly in areas relating to climate change, biodiversity, cleaner seas and sustainable ocean management. The collaboration will see the two parties work …
Asia’s benchmarks for very low sulphur fuel oil (VLSFO) logged weekly declines as of Friday, a sign that the market has started to pare back following its recent rally. Spot premiums for cargo and marine fuel have both weakened. The drop was steeper in the delivered marine fuel market, with premiums softening to levels near …
Asia Fuel Oil-VLSFO benchmarks log weekly declines Read More »
As part of their ongoing commitment to lower the carbon intensity of their operations, Mitsui O.S.K. Lines, Ltd. (MOL) and Chevron Shipping Company LLC (Chevron), a subsidiary of Chevron U.S.A. Inc., announced an agreement to install Wind Challenger, a hard sail wind-assisted ship propulsion system developed by MOL and Oshima Shipbuilding together (Note 1), to …
Great Eastern Shipping Company (G E Shipping) has contracted to sell its 2005 built Suezmax Crude Tanker, Jag Lalit of about 158,344 dwt on 13 September 2024 to an unaffiliated third party. The vessel will be delivered to the new buyer by Q3 FY25. Including Jag Lalit, company’s current fleet stands at 43 vessels, comprising …
Great Eastern Shipping Company sells 2005-built Suezmax Crude Tanker ‘Jag Lalit’ Read More »
On August 28, JX Nippon Oil & Gas Exploration Corporation (JX), Nippon Yusen Kabushiki Kaisha (NYK), and NYK’s affiliate Knutsen NYK Carbon Carriers AS (KNCC) conducted a demonstration experiment to study the optimization of the carbon dioxide (CO2) liquefaction and storage process (Note1) utilizing KNCC’s proprietary technology “LCO2 – EP Cargo Tank” (Note2). In May …
The Cargo Integrity Group is issuing an urgent reminder of the need for an emergency contact telephone number to be provided for shipments of dangerous goods, following recent experiences reported by its partner organizations. Transport of dangerous goods is essential to the production and distribution of many products on a global scale. The International Maritime …
