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How tug operators can deliver high-quality services in a competitive market

The towage sector holds a unique position within the supply chain, carrying out an essential, though often underappreciated and overlooked service. As the shipping industry comes under new and increasing pressures – higher fuel costs, inflation and a global economy moving towards recession – the towage sector is uniquely positioned to be shaped by these …

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Polycrisis to disrupt commodity supply and demand

A “polycrisis” of interrelated environmental, geopolitical and socioeconomic risks could have a profound effect on the supply of and demand for natural resources over the next ten years, according to a global risks report. “Severe commodity price shocks or volatility” was noted as a top five risk over the next two years in 47 countries …

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Xeneta: Transatlantic trouble as extra capacity undermines freight rates

2023 has marked a change in fortunes for ocean freight rates from North Europe to the US East Coast, with both spot and long-term contracted prices falling by around 10% since the start of the year. According to the latest data from Oslo’s Xeneta, long-term rates are now under USD 6 000 per FEU, while …

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0.5% VLSFO spot premium surges to five-month high

Asia’s spot premium for 0.5% very low sulphur fuel oil (VLSFO) hit a five-month high on Friday on firmer bidding and trading. The spot premium was at $24.23 a tonne to Singapore quotes, up for a ninth consecutive session. Downstream VLSFO bunker fuel premiums have also edged higher this week, though the uptick still lagged …

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Canada accepts amendments to expand IMO Council

Canada has become the latest country to accept amendments to the Convention on the International Maritime Organization (IMO) which will expand the size of the Council, extend the term of its Members, and recognize three additional language texts as authentic versions of the Convention. The Honourable Ms. Marie Marie-Claude Bibeau, Minister of Agriculture and Agri-Food, …

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China 2022 low-sulphur marine fuel exports fall 6.2% from previous year

China’s exports of low-sulphur marine fuels in 2022 fell 6.2% from the previous year, in line with lower ship refuelling demand across main global bunkering ports. Exports of very low-sulphur fuel oil (VLSFO), which has a maximum sulphur content of 0.5% to comply with emission rules set by the International Maritime Organization (IMO), were at …

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73% of supply chain professionals surveyed predict chaos on cards due to early Chinese New Year and COVID infections in China

A larger share of freight forwarders and supply chain professionals this year in 2023 are expecting disruptions owing to COVID outbreaks in China and the Chinese New Year factory closures as compared to the last year (2022). “We are looking at three different Chinese Years in 2020, 2021 and 2022. It’s not what we’ve been …

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Successful implementation of RadiantFleet Solutions at Scylla Group

RadiantFleet, a leading maritime software solution provider, is proud to announce the successful implementation of its cutting-edge digital platform at pioneering shipping company Scylla Group. Founded in 1973 in Basel, Switzerland by the family Reitsma, the Scylla Group is today renowned for its innovative use of maritime technology and the exceptional quality and design of …

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Maersk North America Market Update (January 2023)

Key Notes on North American Supply Chains Port Houston import dwell fee goes into effect February 1st: The Port of Houston announced a Sustained Import Dwell Fee to help maintain fluidity at the Bayport and Barbours Cut Container Terminals and address long-term dwell. The $45 fee will be charged per unit per day starting on …

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In focus: Energy transition caught between cooperation and fragmentation

The world’s business and political leaders gathered this week for the World Economic Forum’s annual event in Davos to discuss global challenges and the way forward. The topic of the weeklong event is ‘Cooperation in a Fragmented World’, highlighting the need to work together to overcome the perfect storm. “We need to recreate global growth. …

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