A voyage index could be the next logical step in commercial shipping’s decarbonisation journey, according to the Danish Ship Finance’s latest Shipping Market Review. Likening a possible index to the use of handicaps for golf players, DSF said that the IMO’s EEXI regulations can be seen as “handicaps” for vessels. But the IMO has not …
Container shipping is in the crosshairs of a superpower tussle that could divide the world and reshape trading networks. Countries that have benefited from China+ trade diversification, such as India and Vietnam, might need to get off the fence soon. It is not being paranoid to say that the world is currently in the middle …
Bearish sentiment and sliding freight levels so far in 2023 have surprised many Atlantic Panamax market participants, who were previously expecting the rapid recovery seen in rates between late February and early April to continue throughout the year’s second and third quarters. Despite the optimistic outlook for Brazilian seaborne grain exports in 2023, downward pressure …
Atlantic Panamax spot freight slides on deteriorating fundamentals Read More »
The double-digit declines keep piling up for container shipping. The Port of Long Beach said Friday that April imports fell 22% from the year before. First-quarter profits reported by Taiwanese carriers Evergreen and Yang Ming crashed 95% and 94% year-on-year (y/y), respectively. First-quarter net income reported Monday by South Korean carrier HMM plunged 91% y/y. …
Shipping boom hangover: When measuring markets gets tricky Read More »
Drewry’s composite World Container Index decreased by 1% to $1,719.95 per 40ft container this week. Our detailed assessment for Thursday, 18 May 2023 The composite index has decreased by 1% this week, and has dropped by 78% when compared with the same week last year. The latest Drewry WCI composite index of $1,719 per 40-foot …
Drewry: World Container Index Down 78% Compared To Last Year Read More »
Tina Revsbech will join Maersk Tankers as its new CEO, bringing more than 30 years of industry experience. Tina will replace Christian M. Ingerslev, who has been appointed CEO of Maersk Supply Service. Previously, Tina Revsbech has worked as Executive Vice President at Fednav Limited, CEO at BW Tankers and Senior Vice President at Torm. …
Asia’s spot fuel oil market was little changed on Friday as cash premiums steadied in thin trade, though high sulphur fuel oil (HSFO) margin closed the week at a one-year high. The front-month margin for spot 380-cst HSFO rose to a discount of $6.86 a barrel at 0830 GMT, and was last higher in May …
Spot market steady; HSFO margin hits one-year high Read More »
Lloyd’s Register (LR), Mediterranean Shipping Company (MSC), Shanghai Merchant Ship Design & Research Institute (SDARI) and MAN Energy Solutions (MAN-ES) have signed a Memorandum of Understanding (MOU) for a design for the ammonia dual-fuel operation of an MSC container ship. Under the MOU, a technical specification and the associated design documents will be developed for …
LR, SDARI and MAN ES join forces on ammonia dual-fuel containership for MSC Read More »
Mitsui O.S.K. Lines, Ltd. Friday announced the signing of basic agreement with Mitsubishi Gas Chemical Company, Inc. (President: Masashi Fujii; Headquarters: Chiyoda-ku, Tokyo) on 28th April, 2023 for the long-term charter of a methanol carrier, which can run on either methanol or conventional heavy fuel oil. The vessel, slated for delivery in 2025, will be …
En un cursillo celebrado en Port Vila, Vanuatu, se informó a funcionarios de alto nivel de los departamentos de Gobierno de energía y transporte de la región del Pacífico sobre los progresos realizados en la descarbonización del transporte marítimo internacional. Se trata del último de una serie de eventos organizados o apoyados por la OMI en el marco …
