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Freight rates into US reach post-Hormuz crisis peak – but no collapse is in sight

The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst. Peter Sand, Xeneta Chief Analyst: “Spot rates from Far East to the US ticked up again on 1 October, but we can say …

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Strait of Hormuz security, decarbonisation among key issues discussed by BIMCO committees

The security situation in the Strait of Hormuz and the Black and Red Seas, as well as environmental topics, were among the key issues discussed when BIMCO’s Maritime Safety & Security Committee (MSSC) and Marine Environment Committee (MEC) met on 30 September and 1 October. Members considered the implications of regional conflicts, attacks on shipping, …

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IMO Secretary-General Mourns Seafarers Killed During Rescue Of Hijacked Ship

IMO Secretary-General Arsenio Dominguez has expressed his condolences and reiterated his tireless call on the international community to do more to protect seafarers, following reports of the deaths of five crew members during an operation to free the hijacked vessel HONOUR 25 in the Gulf of Aden region. The HONOUR 25 was one of three …

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MOL Ocean Bulk Joins World’s 1st Tri-Fuel Ore Carrier Project- 25-Year Iron Ore Transport Contract Signed with Vale

Mitsui O.S.K. Lines, Ltd. announced that MOL Ocean Bulk Pte. Ltd., which operates the MOL Group’s overseas Capesize bulker business, has signed a 25-year contract with Vale International S.A. (a subsidiary of Vale S.A.) to transport iron ore using two vessels. As part of Vale’s Shipping decarbonization strategy, the project will employ the world’s first …

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