The Law Commission of England and Wales has now published its final report on electronic trade documents, together with draft legislation for intended presentation to Parliament by May 2022. The current law of England and Wales attaches particular importance to the physical possession of certain trade documents, for example bills of lading, and does not …
Drewry’s composite World Container Index decreased marginally by 0.1% to $7,648.18 per 40ft container this week. Our detailed assessment for Thursday, 19 May 2022 1. The composite index decreased marginally by 0.1% this week, but, remains 24.7% higher than a year ago. 2. The average composite index of the WCI, assessed by Drewry for year-to-date, …
Drewry: World Container Index Now 24.7% Higher Than Last Year Read More »
The Baltic Exchange’s main sea freight index rose on Friday to gain for a sixth consecutive week on stronger vessel rates across segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 55 points, or 1.7%, to 3,344 points. It rose 7.7% for the week. The capesize index …
Baltic index gains for sixth week on stronger vessel rates Read More »
In 2019, prior to the onset of the COVID-19 pandemic, jet fuel contributed an estimated 8% of oil products’ cargo demand. When travel restrictions were imposed during the pandemic, air travel suffered significantly and jet fuel shipments in 2021 were down approximately 33% compared to 2019. Airlines’ capacity has been on a slow recovery path …
Airline capacity 37% lower than 2019, curbing demand for jet fuel Read More »
Belgian oil tanker and storage operator Euronav said this week it had received “a clear signal” from shareholders in support of its proposed $4.2-billion merger with smaller Oslo-listed rival Frontline FRO.OL. Euronav, one of the largest oil tanker companies in the world, has been embroiled in a clash with its biggest shareholder, Saverys’ Compagnie Maritime …
Euronav says it has ‘clear’ shareholder signal in favour of Frontline merger Read More »
The U.S. Section of the World Association for Waterborne Transport Infrastructure is ramping up its 2022 educational series with a webinar on the Marine Transportation System Resilience Assessment Guide, scheduled for June 15, 2022. The Guide provides a process for organizing and understanding the complicated systems that comprise the Marine Transportation System. The June 15 …
The DNV SeaSkill™ standard ST-0595 is the first of its kind and addresses an emerging trend in the maritime training market: the emergence of training platform providers. The standard’s certification framework aims to ensure the quality of the training platforms, as well as their learning products and operation. It was developed in co-operation with Seably …
H2-Industries and TECHNOLOG Services, a naval architecture company, have joined forces to develop 3D designs for an innovative concept ship that will collect plastic waste that currently blights the world’s oceans and then converts it into clean hydrogen, allowing surplus hydrogen to be shipped back to shore. Plastic pollution in oceans and other bodies of …
Q1 and three-month 2022 results: MPC Container Ships ASA published its unaudited financial report for the three-month period ended 31 March 2022. • Total revenues of USD 142.9 million in Q1 2022 (Q1 2021: USD 54.9 million). • EBITDA of USD 137.7 million in Q1 2022 (Q1 2021: USD 22.3 million). • Net profit of …
MPC Container Ships ASA reports Strong First Quarter results Read More »
European governments’ efforts to balance the security of the energy supply and climate change materialised in the form of a plan, which is expected to reduce its dependence on Russian fossil fuels and fast forward the green transition. Premium content Checking for account. You need javascript to validate your login status. Premium Premium content Subscribe …
In focus: Europe’s political balancing act within offshore energy realm Read More »
