The Baltic Exchange’s dry bulk sea freight index marked a second straight weekly fall on Friday as rates declined across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 63 points, or 2.6%, at 2,348. It shed about 5.4% for the week. The capesize index …
Baltic index declines for 2nd straight week on weak vessel rates Read More »
2023 will be remembered for many reasons. For the tanker market, it was the year that VLCC freight finally remained within positive territory for a full 12 months. But it wasn’t a smooth ride. The market had increased volatility, and earnings swung dramatically, from barely covering operating expenses to highs of $100,000 per day. The …
In the second week of December, the outlook for the crude oil freight market is subdued despite earlier expectations of stronger momentum. In the clean segment, however, there are encouraging signs that sentiment is brightening, particularly on the LR2 MEG-Japan route. Amidst global geopolitical challenges related to Russian crude trade and the ongoing conflict between …
The official Panama Canal transit numbers for November are out — and they’re ugly. November could be the tip of the iceberg. Reservation slots are being slashed further this month and in January. The total number of transits declined 22% in November versus October, according to just-released data from the Panama Canal Authority (ACP). And …
Panama Canal transits plunge as larger ships are turned away Read More »
Oil shipments transported on Maersk Tankers vessels have the option to re-route via the Cape of Good Hope due to the worsening security situation in the Red Sea, shipping sources said on Thursday. The sources confirmed a market advisory that was circulating had been sent by Maersk Tankers. Denmark’s Maersk Tankers, one of the world’s …
Oil shipments on Maersk Tankers vessels have option to re-route via Cape – sources Read More »
Missile and drone attacks by Houthi militia on merchant ships passing through the Red Sea and Gulf of Aden could trigger a global supply chain crisis, according to industry analysts. The latest attack came yesterday, Thursday, when a missile was fired at the ‘Maersk Gibraltar’ vessel while en route from Salalah in Oman to Jeddah …
Houthi rebel missile attacks threaten global supply chain crisis at Suez Canal Read More »
Drewry’s World Container Index increased by 4% to $1,521 per 40ft container this week. Our detailed assessment for Thursday, 14 December 2023 The composite index increased by 4% to $1,521 this week and has dropped by 28% when compared with the same week last year. The latest Drewry WCI composite index of $1,521 per 40-ft …
Asia’s fuel oil cash differentials were little changed on Friday as the spot market was stable amid a lack of fresh drivers, market players said. Cash premiums hovered in thin premiums, with 0.5% very low sulphur fuel oil down marginally at $6.40 a metric ton, while 380-cst high sulphur fuel oil was at $3.88 over …
Asia Fuel Oil-Cash differentials little changed, ARA stocks fall Read More »
Mitsui O.S.K. Lines, Ltd. announced that it has decided to issue “blue bonds” through a public offering in Japan’s domestic market in January 2024. The bonds are the world’s first blue bonds in the shipping industry, which refer to the guidance (Note 1) provided by the International Capital Markets Association (ICMA) and other organizations. The …
MOL to Become World’s 1st Shipping Company to Issue Blue Bonds Read More »
Parts of the river Rhine in south Germany remained closed to shipping on Friday after heavy rain and melting snow increased water levels, but could reopen later this weekend, navigation authorities said. Rhine river shipping remained stopped around Maxau and Speyer in south Germany, the German inland waterways navigation agency WSA said. The southern sector …
River Rhine in south Germany remains closed to shipping Read More »
