World trade growth is forecast to slow this year, falling from 2.7% in 2022 to 1.7%, according to the World Trade Organisation, as a smaller-than-expected increase was eroded by a “sharp slump” in the fourth quarter. In its latest trade projection report, Global Trade Outlook and Statistics, the WTO noted that 2023 global trade growth …
Participants in the Atlantic Supramax dry bulk freight market said they expect rate spikes on all routes going into the second qurter of the year, despite weak demand in the first three months of the year, amid trading volatility as supply-demand imbalances persist in the basin. The US Gulf Coast region suffered substantial losses in …
Atlantic Supramax market looks to higher rates in Q2 Read More »
Drewry’s composite World Container Index remained stable at $1,708.63 per 40ft container this week The composite index remained stable (decreased a merge 0.1%) this week, and has dropped by 78% when compared with the same week last year. The latest Drewry WCI composite index of $1,709 per 40-foot container is now 84% below the peak …
Over the Week 15, the global MABUX bunker indices did not show a firm trend and changed sideways. The 380 HSFO index rose by 9.64 USD from 501.68 USD/MT last week to 511.32 USD/MT, which is above the 500 USD mark. Similarly, the VLSFO index added 3.35 USD (654.96 USD/MT versus 651.61 USD/MT last week). …
Klaveness Combination Carriers (“KCC”) preliminary CABU and CLEANBU TCE earnings for first quarter ended at $/day 31,466 and $/day 45,911 respectively. TCE earnings for both segments ended above the guiding range for the quarter. TCE earnings were positively impacted by a continued strong product tanker market, while the weaker dry bulk markets in the first …
Spot container freight indexes are still falling. Cargo shippers are signing annual contracts at sharply lower rates than last year. Import demand continues to be crippled by high inventories. A massive wave of new container ships is now hitting the market in full force. And yet, the container shipping industry does not appear to be …
Mixed signals: Container shipping downturn not following the script Read More »
Blue hydrogen production is gaining traction, with announcements of large-scale projects, funding, and government support worldwide. According to IDTechEx’s analysis, the blue hydrogen market will be worth US$34 billion by 2033. But which technology will drive most of this capacity and market growth? Blue hydrogen refers to hydrogen produced from natural gas with CO2 emissions …
Nor-Shipping has announced that Dr Andrew Forrest, the Founder and Executive Chairman of Fortescue Metals Group, will take to the stage for this year’s Ocean Leadership Conference (OLC) on 6 June. Dr Forrest will join a line-up of speakers and participants that includes: Joseph E. Stiglitz, Nobel laureate in Economics and former Chief Economist at …
Andrew Forrest to focus on renewable opportunities at Nor-Shipping Read More »
International shipping freight rates, which had fallen below break-even levels, have recently shown signs of recovery although they remain at only one-fifth of the peak levels seen early last year. According to shipping industry sources on Wednesday, the Shanghai Containerized Freight Index, which is used to measure the average weekly spot rates from Shanghai on …
Shipping rates show signs of recovery ahead of trans-Pacific contract renewal Read More »
Shakespeare® Marine – the world leader in marine antenna design – announces the appointment of its new Chinese distributor, Rongtec. With immediate effect, Rongtec becomes an exclusive Chinese distributor for the brand, responsible for the Chinese market. A leading marine electronic service provider, Rongtec specialises in navigational aid, TV satellite reception and vast communications systems. …
Shakespeare® Marine announces new Chinese distributor Read More »
