The Baltic Exchange’s dry bulk sea freight index fell on Friday and posted its fifth straight weekly loss, weighed by weaker rates across vessel types. The index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 10 points to 1,378 points. The index was down about 1.6% for the week. The capesize …
Baltic Index Logs Fifth Weekly Loss On Weaker Rates Across All Vessel Segments Read More »
This week’s focus highlights a decrease in the growth of dirty tonne days throughout this year at a pace lower than seen in the previous two years. For VLCC from Arabian Gulf to the Far East, there has been a late rebound with levels nearing to surpass the pace of October in 2023, however, the …
Forecasting a modest 2% rise in global maritime trade in 2024 and annual growth rates averaging 3.5% from 2025-2029, UNCTAD’s latest forecast leans on the optimistic side, but only if “significant risks” don’t get in the way. The optimism in its 2024 Review of Maritime Transport is fuelled by increased demand for key commodities such …
A.P. Moller-Maersk expects strong demand for shipping goods around the world to continue in the coming months, but sees no return to sailing through the Suez Canal until 2025 due to the threat of Red Sea attacks. Attacks on vessels in the Red Sea by Iran-aligned Houthi militants have disrupted a shipping route vital to …
Maersk sees no Suez Canal return until ‘well into 2025’ due to Red Sea threat Read More »
Great Eastern Shipping Company (G E Shipping) said that it has entered into a contract to sell its 2005-built medium range product tanker Jag Padma of about 47,999 dwt to an unaffiliated third party. The vessel will be delivered to the new buyer by Q3 FY25, the company added. Including Jag Padma, companys current fleet …
G E Shipping enters into contract to sell medium range product tanker Jag Padma Read More »
Asia’s fuel oil markets continued to see a flurry of spot activity in the trading window on Friday amid higher cash premiums, though the November-December swaps backwardation reflected cautious expectations among traders. Prompt 380-cst market fundamentals could still be supported by ongoing demand from the bunker and feedstock markets amid low stockpiles in the West, …
Asia Fuel Oil-Upbeat spot activity; markets cautious on Dec fundamentals Read More »
In a joint statement released today, European Shipowners and European green transport group Transport & Environment (T&E) call upon EU leaders to prioritise clean fuel production as part of the upcoming Clean Industrial Deal. The Draghi Report estimates that €40 billion in annual investments will be needed between 2031 and 2050 for the energy transition …
Kalmar’s interim report January–September 2024: Record-high profitability in the third quarter Trading in Kalmar’s class B shares commenced on 1 July and the last demerger milestones including system separations were finalised in early September The comparable operating profit margin amounted to 13.5 (13.2) percent in the third quarter, presenting a record-high profitability on lower sales …
Yesterday, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an OFAC Compliance Communiqué: Sanctions Compliance Guidance for the Maritime Shipping Industry designed to aid maritime sector stakeholders in (1) identifying certain new or common fact patterns that may be indicative of sanctions evasion, (2) addressing common counterparty due diligence issues, …
Enhancing Compliance in the Maritime Shipping Industry Read More »
Patsadas will lead global chartering from TGP’s office in Rotterdam, the Netherlands. Paddock Wood, United Kingdom, Friday 1st November 2024: Trans Global Projects (TGP) has appointed Panos Patsadas as Global Chartering Manager. Patsadas brings over 17 years of international shipping experience to the role, further strengthening TGP’s capabilities across key shipping sectors including breakbulk, heavy …
Panos Patsadas Joins Trans Global Projects As Global Chartering Manager Read More »
