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Drewry: World Container Index Down 0.7% but 107.6% Higher Versus Same Week of 2019

The composite index decreased 0.7% this week, but 107.6% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,894 per 40ft container, which is $434 higher than the five-year average of $1,460 per 40ft container. Drewry’s composite World Container index inched down by …

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LNG BUNKER WEEKLY: Japan conducts first ship-to-ship bunkering; GAC, Pilot sign HOA

The Singapore LNG bunker fuel price was assessed at $8.732/MMBtu, maintaining a $1.975/MMBtu spread to the JKM. The JKM for December was assessed at $6.757/ MMBtu. The market backwardation over the December-January period widened on a softer January derivatives market while December remained tight, with physical offers going past the $7/MMBtu mark on lingering supply …

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India’s container market to rebalance in coming months: FIEO

Growing demand from India’s consumer and industrial sectors could help boost imports and rebalance the country’s container markets over the next three months, according to Ajay Sahai, the Director General and CEO of the Federation of Indian Export Organization. Speaking to S&P Global Platts recently, Sahai said Indian exporters were waiting for year-end demand signals …

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GCC Bunkers selects ION Commodities’ Aspect CTRM solution

ION, the largest global provider of trading, analytics, and risk management solutions for commodities and treasury management, today announced GCC Bunkers selected the ION Aspect CTRM solution to manage its complex physical oil and fuel business. Aspect, the leading multi-tenant SaaS CTRM solution, was selected for its extensive capabilities in the bunker fuels market, its …

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Danish developers scout for brainpower for three nearshore wind projects

HOFOR and Lillebælt Vind have issued a few calls for tender prequalification over the past several days as part of their plans to build offshore/nearshore wind farms in the Øresund and Lillebælt areas in Denmark. The two Danish companies are currently jointly prequalifying engineering consultancies and legal advisors through three calls published in October, with …

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