The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, hit a more than four-week high on Thursday, propelled by a 15% jump in the capesize segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 78 points, or 6.9%, at 1,216 …
Baltic index nears one-month peak on capesize bounce Read More »
By agreeing to an additional voluntary production cut within OPEC (Organization of the Petroleum Exporting Countries) of 500,000 barrels per day in May and announcing a further independent production cut of 1,000,000 barrels per day in July, Saudi Arabia is aiming to reduce excess supply and support prices. According to the EIA (U.S. Energy Information …
Production cuts bite as Saudi Srabian crude oil exports fall 12% m/m Read More »
With the peak ocean freight cargo season approaching, the latest data from Oslo-based Xeneta shows mixed fortunes, and outlooks, for the two main Far East to Europe trade corridors. Xeneta’s analysis reveals that shippers opting for the Far East – Mediterranean route are currently paying a spot rate premium of USD 1 150 per FEU …
The Drewry Dry Bulk Equity Index declined 10.6% YTD, underperforming the S&P 500, which rose 14.3% YTD. The decrease can be attributed to a contraction in China’s manufacturing sector in April and May, indicated by a PMI number lower than 50 and macroeconomic weakness caused by rising interest rates. Additionally, dry bulk companies reported lower …
Asia’s fuel oil market held steady on Thursday, while onshore inventories at Singapore fell after a three-weeks build. Weekly residual fuel oil stocks slipped to four-week lows at Singapore as net imports eased after a recent spike, official data showed on Thursday. The decline in inventories and expectations of tighter supplies for the first half …
Asia Fuel Oil-Spot market steadies while inventories ease Read More »
Presidenta de la APA y alcaldesa de Almería mantienen una reunión técnica para coordinar la actuación en materia de accesos La Autoridad Portuaria avanza en soluciones en suelo portuario mientras la necesaria conexión con la A7 no llega La Autoridad Portuaria de Almería (APA) propone avanzar en un acceso alternativo al Puerto de Almería, que …
El puerto de Tenerife recibió ayer en las instalaciones de Boluda Maritime Terminals la primera escala del innovador buque de mercancía rodada “Gran Amberes”, primera nave de la clase G5 perteneciente al Grupo Grimaldi de logística multinacional especializado en transporte de contenedores, vehículos y pasajeros. Caracteriza a estos buques la incorporación de tecnología innovadora que …
El puerto tinerfeño acoge al portacontenedores Gran Amberes en primera escala Read More »
With the climate and energy woes intertwined, energy security and sustainability have become household names throughout the world. This sparked the evolution of existing solutions and the search for more innovative ones to curb emissions in the energy sector. However, there are still some components, which are being largely overlooked during the decarbonisation quest. As …
Italy’s oilfield services provider Saipem has strengthened its financial structure and liquidity, after its two new credit facilities, totalling €860 million (nearly $945 million), came into effect. Saipem Saipem entered into two new credit facilities in February 2023 with a pool of leading national and international banks. The effectiveness of these credit facilities was subject …
Saipem’s €860 million credit facilities come into force Read More »
K Line Port Service Co., Ltd., a group company of Kawasaki Kisen Kaisha, has conducted a demonstrative test voyage with the tugboat Aihomaru operating in Nagoya Port using next-generation biodiesel fuel. K Line As informed, the biodiesel fuel was supplied by Toyotsu Energy Corporation on May 10th at Nagoya Port. According to K Line, the …
K Line trials biodiesel fuel on tugboat at Nagoya Port Read More »
