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How Iranian oil link could complicate insurance claims after tankers collide off Singapore

A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels previously shipped Iranian oil, potentially complicating payments due to Western sanctions, ship-trackers and industry sources say. WHAT HAPPENED? The Singapore-flagged Hafnia Nile and the Sao Tome and Principe-flagged Ceres I collided and caught fire about 55 …

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Dry Bulk Market: Capesize Market Ends Week on a Positive Note, Despite Overall Losses

Capesize The week commenced with a tepid start as the BCI 5TC index slipped, reflecting limited activity in both regions. As the days progressed, the Pacific saw a reasonably robust list of available cargoes, although activity was still somewhat stagnant. Midweek, the market faced challenges despite heightened activity, with the BCI 5TC index experiencing a …

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Long term rates on major fronthauls show signs of life, just as spot rates start to soften

Ocean freight container shipping spot rates have increased dramatically in recent months, but the long term market has been insulated from this volatility in comparison – perhaps until now. The Global XSI®, which covers all valid long term contracts in the market, reached 151.5 points in July. While this is still 4.0% lower than December …

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