The Freightos Baltic Global index climbed month on month for the first time this year, increasing 6% since the end of March to $1,576/FEU. Significant spikes on the transpacific offset by decreases on the Asia – Mediterranean and transatlantic lanes resulted in the moderate global gain, which closed the month 82% lower than a year …
A surge in demand for trans-Atlantic freight movements out of the US Gulf Coast on midsize Aframax and Suezmax tankers has propped rates up midweek May 4, rebounding after it reached two-year lows just over a week ago April 26. The cost of lifting crude from the USGC to Europe on an Aframax enters the …
Trans-Atlantic cargo frenzy boosts Aframax tanker freight Read More »
Drewry’s composite World Container Index increased by 1% to $1,763.28 per 40ft container this week. Our detailed assessment for Thursday, 04 May 2023 The composite index has increased by 1% this week, but has dropped by 77% when compared with the same week last year. The latest Drewry WCI composite index of $1,763 per 40-foot …
Drewry: World Container Index Up 1% Last Week, But 77% Down on Last Year Read More »
Asia’s spot cash premium for 0.5% very low sulphur fuel oil (VLSFO) eased for a second consecutive session on Friday, giving up the uptick seen earlier in the week. The East of Suez region remains amply supplied despite a hiatus in VLSFO tenders from Kuwait’s Al Zour, as Western barrels continued to flow east amid …
VLSFO premium eases; short-lived rebound fizzles out Read More »
The pace of shipments from Ukraine under a U.N.-backed initiative has slowed as concerns grow over ships getting stuck if a deal is not renewed later this month, according to sources and data. Russia, which is one of the key parties involved, said it will keep talking although Moscow has threatened to quit on May …
Shipments from Ukraine slowing as Black Sea grain deal deadline nears Read More »
Electricity is continuing to gain traction in previously thought to be hard-to-electrify sectors including heavy trucking and aviation. Electricity’s share in transport will grow from 1% today to 23% in 2050, according to DNV’s latest Transport in Transition report. DNV’s Transport in Transition report is a deep dive into the energy transition of transport – …
DNV forecasts oil demand in transport sector to half by 2050 Read More »
Klaveness Combination Carriers ASA (“KCC”) opens 2023 with another record quarter, with EBITDA of USD 41.0 million and EBT of USD 28.2 million yielding a return on equity on an annualized basis of 37% [1]. A flourishing tanker market, solid contract base, and expected continued strengthening of the dry bulk market position KCC on a …
KCC First Quarter 2023 – Opening the year with another record quarter Read More »
As the maritime industry transitions to a low and zero-carbon future, African policymakers are being advised to implement training infrastructure as quickly as possible to maximize ‘high-quality’ employment opportunities for African workers and facilitate the continent’s green transition. Speakers at today’s ‘Unlocking Green Maritime Jobs’ panel-discussion outlined the growing demand for seafarers able to handle …
African leaders urged to harness seafarer green skills momentum Read More »
The companies awarded by MEA get the opportunity to work closely together with a transnational team of Marine Energy experts on both the technical advancement of their technology, as well as the development of their commercial strategy and business plans. Each service offer is intended to put the company’s technology and business firmly on the …
In focus: Step by step towards the clean energy transition Read More »
Two more oil majors – Shell and ConocoPhillips – have joined their peers in posting results for the first quarter of 2023 that were hampered by the downward trend and volatility, which has befallen the oil and gas prices after the elevated levels observed last year during the heights of the global energy crisis. While …
