The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, extended gains for a third straight session on Monday on higher rates for capesize and panamax vessel segments. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 47 points, or 4.3%, at 1,133 …
Baltic index extends gains on higher rates for larger vessels Read More »
The International Maritime Metropolis – Greece, witnesses an overwhelming gathering of Maritime professionals. Green Shipping and Sustainability discussions take centre stage. The much-awaited prestigious International ShipTek International Conference & Awards concluded successfully in Greece on 2nd September 2022. Organized by Biz Events Management, the event was organized at Nymphes Ballroom, Novotel Athenes – Greece. The …
August is typically an element of the strongest part of peak season, yet 2022 does not have any material peak season. As a consequence, the slide in spot rates not only continued, but the pace of the decline also increased. The available data in the market shows that fundamental support for very high freight rates …
Freight rates on the main ocean trade routes are sinking during what is typically the industry’s peak season after cargo owners shipped holiday goods early and inflation dented consumer demand. The cost to ship a 40-foot container from China to the U.S. West Coast now stands around $5,400 a box, down 60% from January, according …
A coalition of shipping leaders is launching today to identify, accelerate and advocate technology solutions for the maritime industry to measure and manage methane emissions activity. In doing so, the Methane Abatement in Maritime (MAM) Innovation Initiative aims to minimise the environmental impact of liquefied natural gas (LNG) in shipping, whilst aiding the transition to …
New tech accelerator launched to reduce maritime methane emissions Read More »
The partners in the EU-funded €3.4 million LiftWEC project have selected the final concept for a wave energy device, based on hydrodynamic lift forces, that will be put through its paces at the wave tank in Ecole Centrale de Nantes. Premium content Checking for account. You need javascript to validate your login status. Premium Premium …
Final LiftWEC wave energy concept moves forward to tank trials Read More »
Exmar LPG, a joint venture (JV) between EXMAR and Seapeak, has placed a firm order for two midsize carriers with Korea’s Hyundai Mipo Dockyard (HMD). The 46,000 m³ dual fuel (LPG) vessels are scheduled for delivery in the fourth quarter of 2024 and the first quarter of 2025 respectively. The price tag for the newbuilds …
UAE’s ADNOC Offshore has awarded a $548 million (AED 2.01 billion) contract for a new main gas line at its Lower Zakum field offshore Abu Dhabi, which is expected to almost double the field’s gas production capacity. While announcing this engineering, procurement and construction (EPC) contract to build a new main gas line at its …
To ramp up gas production at Lower Zakum, ADNOC hands out $548 million deal Read More »
Singapore-based unit of Australian energy major Woodside has entered into a flexible long-term sale and purchase agreement (SPA) with Germany’s energy company Uniper for Woodside to supply LNG to Europe. Illustration only; Courtesy of Woodside Under the SPA, Woodside Energy Trading Singapore will supply LNG from its global portfolio into Europe, including Germany, from January …
Woodside inks deal with Uniper to supply LNG to Europe Read More »
French shipping major CMA CGM has decided to create a Special Fund for Energies, backed by a five-year $1.5 billion budget, to accelerate its energy transition and achieve net-zero carbon by 2050. The fund will invest to support the industrial production of new fuels and low-emission mobility solutions across the company’s business base, including maritime, …
CMA CGM creates $1.5 billion fund to speed up shipping decarbonisation Read More »
