The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was on way to its worst week in six on Friday as demand across all vessels declined. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 55 points, or 2.7%, to 1,966. The …
Skyrocketing freight rates in the product tanker market, especially in the LR segment, are luring some charterers to use VLCCs for the CPP trade after tank cleaning. As most LRs carrying Middle Eastern diesel to Europe are passing through the Cape of Good Hope, the stretched voyages have not only increased the cost of transportation …
Nuclear power could transform the maritime industry with emissions-free shipping, whilst extending the life cycle of vessels and removing the uncertainty of fuel and refuelling infrastructure development, but regulation and safety considerations must be addressed for its widespread commercial adoption, reveals Lloyd’s Register’s (LR) Fuel for Thought: Nuclear report. The report assesses the opportunity presented …
The CO2 Efficient Transport via Ocean (CETO) joint industry project (JiP) concluded recently with the release of a report setting out the findings of the Technology Qualification performed in the study. The project partners, which included Equinor, Gassco, Shell, TotalEnergies and DNV, have found that there are no technological showstoppers to a low-pressure CO2 ship …
Drewry’s World Container Index increased 10% to $5,868 per 40ft container this week. Our detailed assessment for Thursday, 4 July 2024 The composite index increased 10% to $5,868 per 40ft container this week and has increased 298% when compared with the same week last year. The latest Drewry WCI composite index of $5,868 per 40ft …
Backwardation spreads for Asia’s high sulphur fuel oil (HSFO) market widened on Friday as stronger bidding action emerged, trade sources said, while spot premiums also firmed. The balance-July/August intermonth spread for 380-cst HSFO rose by more than 30% from the previous session to $11 a metric ton at the Asia close (0830 GMT). The rally …
Asia Fuel Oil-HSFO backwardation widens on firmer bidding action Read More »
Japan’s Chubu Electric Power Co. is in advanced discussions with BP on a carbon capture, utilization and storage (CCUS) project to sequester up to 20 million mt/year of CO2 in the Nagoya port area, with a potential fleet of some 20 liquefied CO2 carriers for transportation to Indonesia’s Tangguh, a top executive told S&P Global …
Chubu Electric mulls 20-vessel CO2 carrier fleet for CCUS project with BP Read More »
Golar LNG Ltd. (“Golar”) has entered into definitive agreements with Pan American Energy (“PAE”) for a 20-year deployment of a Floating Liquefied Natural Gas (“FLNG”) vessel in Argentina. The FLNG project will monetize Argentine gas, tapping into the vast resources from the Vaca Muerta shale formation in the Neuquina Basin, the world’s second-largest shale gas …
Golar LNG signs agreement for 20-year FLNG deployment in Argentina Read More »
Ocean Yield AS (“Ocean Yield” or the “Company”) is pleased to announce that it has agreed to purchase infrastructure fund CVC DIF’s share in the French company Geogas LNG, providing an indirect economic interest of up to 34% in France LNG Shipping SAS (“FLS”). FLS owns a portfolio of LNG carriers on long-term charters and …
Ocean Yield: Investment in LNG carriers with long-term charters Read More »
Columbia Group (CG) has signed a Memorandum of Understanding (MOU) with the University of Cyprus (UCY) to launch initiatives aimed at expanding educational, research, development and business opportunities for students. This MOU will further solidify the longstanding relationship between UCY and CG, fostering the development of various initiatives, events, and programmes. The agreement outlines collaboration …
Columbia Group Signs MOU with University of Cyprus to Enhance Student Opportunities Read More »
