IMO is advancing discussions on legally-binding ‘mid-term’ measures to help the maritime industry achieve net zero shipping, as set out in the 2023 IMO Strategy on the Reduction of GHG Emissions from Ships. The measures are scheduled for adoption in late 2025. The topic is part of a packed agenda for IMO’s Maritime Environment Protection …
IMO on track to adopt mid-term measures to cut emissions from ships Read More »
In the third week of March, there’s a noticeable improvement in sentiment surrounding VLCC MEG-China rates, offering a glimmer of optimism. However, this comes against the backdrop of tonne days growth continuing to paint a picture of decreasing market conditions. In the Aframax Mediterranean region, market prices remained firm for another week, raising the possibility …
As this week’s meeting of the International Maritime Organization’s Marine Environment Protection Committee (MEPC 81, March 18-22) winds down, the Clean Shipping Coalition welcomed the growing support for a greenhouse gas (GHG) emissions levy, but warned that IMO member states must also maintain focus on other key issues such as the global fuel standard (GFS) …
The Baltic Exchange’s main sea freight index fell on Friday and snapped a six-week-long winning streak, weighed down by a dip in rates for the larger capesize and panamax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 44 points, or about 2%, to 2,196 points. The …
Baltic index posts weekly dip as larger vessel rates retreat Read More »
We welcome the progress made during these intensive negotiations to achieve net zero emissions from shipping, and the support received from around 60 Member States for a flat rate contribution system per tonne of GHG. The purpose of the proposed system, put forward by the International Chamber of Shipping (ICS), is to reduce the cost …
Fuel oil benchmarks in Asia ended the week on a steady note as high onshore stockpiles across key trading hubs capped recovery. Inventories for fuel oil extended gains across all key hubs including Singapore, Fujairah and Rotterdam, based on data this week. The Asia region has been awash with incoming supplies this month, based on …
Asia Fuel Oil-Benchmarks steady, high stockpiles at key hubs cap recovery Read More »
Drewry’s World Container Index decreased by 5% to $3,010 per 40ft container this week. Our detailed assessment for Thursday, 21 March 2024 The composite index decreased by 5% to $3,010 per 40ft container this week and has increased by 71% when compared with the same week last year. The latest Drewry WCI composite index of …
Drewry: World Container Index Down by 5% Last Week Read More »
Yesterday, Svitzer A/S (Svitzer) has published a prospectus forming the basis for admission to trading and official listing of the shares of Svitzer Group A/S (Svitzer Group) on Nasdaq Copenhagen, following the expected demerger of A.P. Møller – Mærsk A/S’ (APMM) towage and marine services activities. The demerger is subject to approval at APMM’s extraordinary …
Svitzer Publishes Prospectus Related To Listing On Nasdaq Copenhagen Read More »
Shipping company Maersk said on Friday it was too early to resume sailings through the Red Sea due to a continued elevated risk level, despite an initiative by the European Union to increase safety in the region. Maersk, one of the world’s biggest container shipping companies, suspended Red Sea traffic on Jan. 5 and has …
Maersk will avoid Red Sea despite EU security operation Read More »
With reference to Company Announcement no. 22 dated 09 November 2023 where TORM plc (“TORM”) announced the acquisition of eight LR2 product tanker vessels, TORM plc has increased its share capital by 570,006 shares (corresponding to USD 5,700.06) as a result of the delivery of the seventh of the eight LR2 vessels. The new shares …
TORM plc capital increase in connection with delivery of one 2011-built LR2 vessel Read More »
