Oil demand growth is expected to slow to 1.6 million barrels per day (bpd) in 2023, down from the 2.1 million bpd anticipated for 2022, according to the International Energy Agency (IEA). Making the predictions in its seminal World Energy Outlook 2022, the IEA blamed the dip on “mounting economic headwinds”. A worsening GDP outlook …
Digital adoption challenges leading to a lack of transparency, visibility and trust emerge as three key struggles for container logistic companies to book shipper-owned containers according to a survey by Container xChange, an online platform for container logistics and operations. To examine the pain points of the current state of ocean freight booking, Container xChange …
Drewry’s composite World Container Index decreased by 7% to $2,591.41 per 40ft container this week. Our detailed assessment for Thursday, 17 November 2022 The composite index decreased by 7% this week, the 38th consecutive weekly decrease, and has dropped by 72% when compared with the same week last year. The latest Drewry WCI composite index …
Drewry: World Container Index Falls By 7% This Week Read More »
Residual fuel oil stocks at key trading hub Singapore edged lower week-on-week as a backwardated market continues to spur destocking, even as net imports extended their climb for a third consecutive week. Onshore fuel oil stocks dipped 1% to 21.17 million barrels (3.33 million tonnes) in the week ended Nov. 16, Enterprise Singapore data showed …
Singapore fuel oil stocks dip as backwardation spurs destocking Read More »
DNV and China Merchant Industry (CMI) have agreed to establish a Joint Technical Innovation Centre to explore new technologies that promote the decarbonization and digitalization of shipping. The Centre’s official launch came amid a high-profile signing ceremony between DNV and CMI executives at the 2nd World Maritime Merchants Forum 2022 (Shipbuilding Subforum), hosted by CMI …
Over the Week 46, MABUX global bunker indices demonstrated irregular changes. The 380 HSFO index rose by 10.88 USD: from 507.77 USD/MT last week to 518.65 USD/MT, being still above the 500 USD mark. The VLSFO index, in turn, fell by 16.60 USD (761.69 USD/MT versus 778.29 USD/MT last week). The MGO index also lost …
MABUX: Bunker Prices Looking for Direction Moving Forward Read More »
BP said that the vessel Heroic Idun had been cleared by the AKPO terminal “before she arrived to load the cargo” As has been reported in the press, the charterer said that the vessel Heroic Idun had been cleared by the AKPO terminal before she arrived to load the cargo. The Heroic Idun was approved, …
Statement issued by owners of the Heroic Idun, Idun Maritime Limited Read More »
This week, a group of 31 environmental and community organizations and 13 industry organizations sent letters to Democratic leadership in Congress calling on them to support the Clean Shipping Act of 2022 (H.R. 8336). Introduced by Representatives Alan Lowenthal (CA-47) and Nanette Barragán (CA-44) in July, the bill aims to clean up the shipping industry, …
Supporting the industry through the early stages of the energy transition with trusted insights into a range of emerging technologies while recording industry-leading safety performance has seen ABS continue to grow its classed fleet to 277 million gross tons. That was the message for members at the annual ABS Advisory Council Meeting on November 15th, …
Winter is almost here and concerns over the security of energy supplies are on the rise. Governments and industries are trying to find ways to tackle both energy and climate crises at the same time. The never-ending battle with new regulations to accelerate green energy programs and address high prices also continues. Earlier this week, German …
In focus: Battle to accelerate green energy programs continues Read More »
