The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth straight week as demand for the panamax segment remained weak. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 10 points, or 1.7%, at 602 on Friday. The index, …
January was the busiest month for Container demolition sales since July 2020. All sales reported were on the smaller scale, with four Feedermax vessels committed and nine Handy Containerships setting sail for their final voyage to be recycled in India. All Container vessels scrapped were built in the 1990s with an average age of 1996, …
Drewry’s composite World Container Index decreased by 2% to $1,997.22 per 40ft container this week. Our detailed assessment for Thursday, 09 February 2023 The composite index has decreased by 2% this week, and has dropped by 79% when compared with the same week last year. The latest Drewry WCI composite index of $1,997 per 40-foot …
Drewry: World Container Index Down 2% This Week, 79% Down Since Last Year Read More »
Regional regulation has, in the past, been criticised for unfairly skewing a global market, but localised shipping rules can also be viewed through a positive lens. Speaking with The Baltic, James Corbett, environmental director for Europe at the World Shipping Council (WSC), said that regional regulation could be seen as an “attractor”, presaging and influencing …
Spot container shipping rates in many trades have already collapsed back to pre-COVID levels. But container liner earnings are still nowhere near where they were pre-pandemic. Ocean carriers are still earning billions more per quarter than they used to. German carrier Hapag-Lloyd reported earnings before interest, taxes, depreciation and amortization of $3.8 billion for the …
Lag effect: Why liner profits stay high much longer than spot rates Read More »
Mitsui O.S.K. Lines, Ltd. has decided to donate 5 million yen to the Japanese Red Cross Society and 38,000 US dollars to the Turkish Disaster and Emergency Management Authority (AFAD) to provide emergency assistance to the victims of the earthquake that struck southern Turkey on February 6. Since establishing our country representative office in Turkey …
MOL to Provide Aid to Victims of Earthquake in Turkey and Syria Read More »
Classification society DNV has awarded an AiP to Michelin for their WISAMO wing sail system. This is the first AiP to have been awarded to an inflatable wing sail design and is currently being installed for testing on the DNV classed MN Pélican. First introduced in 2021, the WISAMO sail is an inflatable, retractable, automated …
DNV awards Michelin first AiP for WISAMO inflatable wing sail Read More »
DHT Holdings, Inc. announced its results for the quarter ended December 31, 2022. QUARTERLY HIGHLIGHTS: • In the fourth quarter of 2022, the Company achieved average combined time charter equivalent earnings of $56,900 per day, comprised of $36,100 per day for the Company’s VLCCs on time-charter and $63,800 per day for the Company’s VLCCs operating …
Seaside LNG announced the acquisition of the liquefied natural gas fueling barge the Clean Jacksonville from TOTE Maritime Puerto Rico, LLC, a subsidiary of TOTE Group, LLC. Seaside LNG’s maritime transportation company, Polaris New Energy, has contracted to continue fueling TOTE’s Marlin Class LNG-powered container ships and other commercial customers with its fleet of LNG …
Following an extensive review process, South Africa has been identified as a high potential crew sourcing destination for the A.P. Moller – Maersk (Maersk) fleet, which comprises 280 fully-owned and operated container vessels, employing 12500 seafarers. South African Cadets from the National Seafarer Development Program will be considered for placement with Maersk, and it is …
Maersk to recruit South African cadets for its global fleet Read More »
