Drewry’s World Container Index decreased by 3% to $2,929 per 40ft container this week. Our detailed assessment for Thursday, 28 March 2024 The composite index decreased by 3% to $2,929 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 3% Last Week Read More »
Ocean carriers are declaring “force majeure” due to the Baltimore port bridge crisis, telling logistics companies and U.S. shippers including retailers that once cargo is dropped off at alternate ports, it becomes their responsibility to pick up. In an alert to customers Tuesday, CMA CGM wrote, “Those (containers) on the water will be discharged at …
Over the 13th week, the MABUX global bunker indices generally indicated a moderate decline. HSFO index saw a marginal increase of 0.9 USD, rising from 546.81 USD/MT to 547.71 USD/MT. Conversely, the VLSFO index decreased by 1.78 USD, settling at 689.92 USD/MT compared to 691.70 USD/MT the previous week, remaining below the 700 USD threshold. …
MABUX: Bunker Prices to Retain Moderate Downward Trend Next Week Read More »
The International Maritime Rescue Federation (IMRF) released its #FutureSAR Report as part of the organisation’s ongoing campaign to raise awareness of the impacts and effects of climate change on global maritime search and rescue (SAR) operations. You can access the full report here. The report marks the completion of the first phase of the IMRF …
In the early hours of March 26, the Singapore-flagged ship Dali, loaded with 5,000 containers, slammed into Baltimore’s Francis Scott Key Bridge, causing the 1.6-mile (2.5-kilometer) bridge to collapse in a matter of seconds. The Dali was departing for Colombo when the disaster struck. Initial fears were confirmed that half a dozen people lost their …
Will Baltimore bridge collapse hit global supply chains? Read More »
With several big shipping companies diverting their routes away from the Red Sea due to current conflicts, the delivery of shipping containers and consumer goods is taking longer than usual. As a result of the ongoing Israel-Hamas war, the Houthi group in Yemen – who is openly backing Hamas – has said it is attacking …
How The Red Sea Disruption Is Affecting Industry Read More »
Magaya, the leading provider of logistics and supply chain automation software, is committing an additional multimillion-dollar investment in 2024 allocated to fortifying its Digital Freight Platform. The added dollars speed the rollout of advanced features across its portfolio of products, including Magaya Supply Chain, Customs Compliance, Rate Management, CRM, and the Magaya Digital Freight Portal. …
Singapore’s onshore fuel oil stockpiles eased to a two-week low on lower imports,data showed on Thursday. Inventories for fuel oil STKRS-SIN were down 2.75% at 21.403 million barrels (3.37 million metric tons) in the week ended March 27, thelatest data from Enterprise Singapore showed. Imports totalled about 954,782 tons, down 24% on-week, with most supply …
Singapore fuel oil stockpiles slip to two-week low Read More »
Wintermar Offshore Marine has announced results for FY2023. Wintermar’s net attributable profit jumped by 501.1%YOY to US$ 6.7 million for FY2023 backed by higher charter rates. Higher utilization and rising charter rates towards the 4th quarter lifted gross margins and led to a strong operational performance in FY2023 with EBITDA up 24.4% to US$21.8million on …
Vitol Bunkers has completed the first delivery of B30 biofuel blend in Singapore, the first time that biofuel above concentration B25 has been delivered. A total of 1,100 MT of VLSFO B30 was delivered on 14 March 2024 to the vessel Grand Hero, a vehicle carrier chartered by Hyundai Glovis. The delivery was carried out …
Vitol completes first delivery of B30 biofuel blend in Singapore Read More »
