As Russia seeks to up its game in circumventing Western sanctions, more oil tankers are turning off their location transponders in risky but lucrative cargo operations. An analysis of data from S&P Global Market Intelligence, including Maritime Intelligence Risk Suite (MIRS) and Maritime Portal, has found a 225% increase globally in the shadowy practice of …
Russia behind 225% spike in shadowy oil transfers at sea Read More »
As the debate over the potential shipping decarbonization avenues is heating up, Hellenic Shipping News (www.hellenicshippingnews.com), interviewed Mr. Dave Gregory, Managing Director of North Europe for Baseblue. According to Mr. Gregory believes that the shipping industry will struggle to meet the 2030 mandates, set by the IMO. Baseblue was created through the merger of three …
Baseblue: “No Single Fuel Will Meet the Needs of the Whole Commercial Shipping Fleet” Read More »
Brent prices, which surged past the $85 per barrel mark after the voluntary production cut by OPEC+, have dipped below $75 per barrel because of rising concerns over global economic health. Nonetheless, the market could head towards tight supply in 2H23 if OPEC+ continues with the ongoing voluntary production curbs as demand is likely to …
G7 price cap threatens to squeeze tonnage supply in crude tanker market Read More »
Clean LR2 MEG LR2’s have suffered from relatively little activity this week, exacerbated by a short week in Singapore. Freight levels have been level with TC1 stable in the mid WS140’s and a trip west on TC20 dipped $178,000 to $3,942,000. West of Suez, Mediterranean/East LR2’s look to have taken a similar trajectory to the …
Capesize The capes have faced a challenging week, marked by holiday disruptions. Despite a slow start to the week, there has been no shortage of cargo in both the Atlantic and Pacific regions. However, both markets have been grappling with an excess supply of tonnage, which has been putting downward pressure on the market. By …
Dry Bulk Market: Capesize Market Faced Challenging Market Read More »
The shipping cycle is famously volatile. Just ask anyone involved in the container shipping business in 2020-2022. Time it right, buy exposure to the cycle at the bottom and sell at the top, and you’ll make a fortune. Multi-generational Greek shipping families have this down to a science. For everyday investors, it’s a challenge. Shipping …
New way to place your bets on boom and bust of shipping cycle Read More »
The Freightos Baltic Global Index (FBX) dipped 11% month on month in May to $1,407/FEU. It is now 9% above 2019 levels, driven by transpacific rates receding from April’s GRI-fueled rise and transatlantic rates continuing their descent. Transpacific rates to the West Coast fell 23% to $1,309/FEU as they retreated from mid-April GRIs that succeeded …
Black Sea grain market weakened in May in both freight prices and volumes amid uncertainty regarding the prospects of the UN-brokered safe passage agreement, with participants remaining hesitant to plan ahead even after the announcement of the agreement’s extension. “Basically, we’ve been on hold since March,” a charterer said. “The corridor cannot function effectively with …
Black Sea Watch: Market strength wanes as Ukrainian grain flows halve in May Read More »
Ukraine would be ready to continue exporting grain across the Black Sea as part of a “plan B” without Russian backing if Moscow pulls the plug on the current grain export deal and it collapses, Ukraine’s farm minister said on Friday. The United Nations and Turkey brokered the Black Sea Grain Initiative between Moscow and …
Ukraine has ‘plan B’ to continue exports if grain deal collapses – minister Read More »
HMM, Korea’s leading shipping company that is under the control of the state-run Korea Development Bank (KDB), decided to compete with foreign companies to regain Hyundai LNG Shipping from IMM Private Equity, according to industry officials, Friday. Hyundai LNG Shipping was formerly a business division of HMM, but it was sold to IMM during HMM’s …
HMM tasked with preventing sale of Hyundai LNG to foreign firm Read More »
