Clean Middle East Gulf LR CPP freight climbed early on and then began to fall after plateauing this week. TC1 peaked at WS293.13 after a widely reported fixture was done at WS295 and the index then dropped back down to the WS287.5 level. Similarly, a run west on an LR2, TC20 capped out at the …
The collapse of China CIMC’s planned takeover of Maersk’s container manufacturing arm maintains some level of competition in the sector and enables further innovation in box equipment and systems development for the cold chain industry. China International Marine Container’s (CIMC’s) decision to withdraw its near US$1 billion takeover offer for Maersk Container Industry (MCI), which …
The failed takeover of Maersk’s box manufacturing arm offers respite to reefer buyers Read More »
They say you can’t have your cake and eat it too. The G7 countries, led by the U.S., think they can. They want to keep Russian crude oil and refined products exports flowing so that fuel prices in their own countries don’t skyrocket, and they want to simultaneously slash Russia’s profits from its own exports. …
G7’s grand plan to squeeze Russia oil windfall hinges on tanker shipping Read More »
The IMO-Norway GreenVoyage2050 Project has released an updated version of its popular clause-by-clause analysis of MARPOL Annex VI, which addresses air pollution from ships, in the six official IMO languages. The document provides a breakdown explanation of each regulation and it is intended to be a useful resource for countries seeking to draft legislation to …
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, marked its best week in over seven months, largely driven by a 126% weekly gain in the capesize vessel segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, recorded its third weekly gain of …
Baltic Index Logs Best Week In 7 Months On Capesize Strength Read More »
In a decision that will likely be welcomed by bunker suppliers and concern vessel owners, a Tribunal has held in a recent London Arbitration (28/22) that both the time charterers and bareboat charterers of a vessel were jointly and severally liable to pay for bunkers stemmed by time charterers. The decision departs from the traditional …
As international sanctions come to the fore in global trade, research in the UK and Switzerland shows how compliance is undermined by a technology gap. Conducted among more than 500 decision-makers, the research reveals that on the trade finance side, Swiss and UK banks are seriously short of compliance screening and monitoring capabilities, while on …
The latest ocean freight rates data from Xeneta shows that spot prices across the main trans-Pacific and US West Coast corridors have converged over the past two to three months, with dramatic declines since the all-time highs recorded earlier this year. Since the end of March, rates from South East Asia to the US West …
Tumbling spot rates close gap between main Asia to US West Coast trades Read More »
Drewry’s composite World Container Index decreased by 8% to $4,941.91 per 40ft container this week. Our detailed assessment for Thursday, 15 September 2022 • The composite index decreased by 8% this week, the 29th consecutive weekly decrease, and has dropped by 52% when compared with the same week last year. • The latest Drewry WCI …
GoodBulk Ltd., a leading owner and operator of dry bulk vessels, today announces its financial results for the second quarter 2022. GoodBulk is a leading owner of dry bulk vessels executing a strategy combining low financial leverage with active portfolio management to optimize operational leverage to the dry bulk freight market. The Company’s strict financial …
Goodbulk Ltd. Reports Higher Second Quarter Profits Despite Dry Bulk Market’s Retreat Read More »
