The Baltic Exchange’s dry bulk sea freight index rose on Friday, helped by an uptick in capesize and panamax vessel rates. The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 78 points, or 4.1%, to 1,964. However, the index dropped 0.7% for the week. The capesize index jumped 228 points, …
With five months still to go, June’s 78th session of the International Maritime Organisation’s Marine Environmental Protection Committee is shaping up to be a seminal summit. CMA CGM’s announcement at the One Ocean Summit organised by the president of France Emmanuel Macron that the line will no longer transport any plastic waste aboard its ships …
The price of oil surpassing $93 per barrel presents a brighter outlook compared to 2020. I won’t delve too much into the inner workings on the energy marketplace as my knowledge is limited, but we do analyse it through the relatively niche lens of maritime connectivity. Many years back, I read at article in the …
How much will an offshore energy company pay for maritime VSAT? Read More »
Oil could remain part of the marine fuel mix for a couple of decades due to the challenges in bringing alternative bunker solutions to all ships and routes, TotalEnergies’ vice-president marine fuels Jerome Leprince-Ringuet said in an interview. The shipping industry is scrambling to decarbonize and a range of different fuels are presenting themselves, with …
TotalEnergies sees long-term role for oil as marine fuel Read More »
Drewry’s composite World Container Index increased marginally by 0.2% to $9,378.51 per 40ft container this week Our detailed assessment for Thursday, 17 February 2022 • The composite index increased marginally by 0.2% this week, and, remains 79% higher than a year ago. • The average composite index of the WCI, assessed by Drewry for year-to-date, …
Drewry: World Container Index 79% Higher Than a Year Ago Read More »
Danish container-ship company A.P. Moller-Maersk A/S is planning more acquisitions in the U.S. as it chases a greater share of domestic logistics spending. Narin Phol, Maersk’s managing director for North America, said shippers spend eight to nine times more on domestic logistics such as trucking, warehousing and delivery than on international ocean freight, the company’s …
Maersk Is Hungry for More U.S. Logistics Companies Read More »
Asia’s front-month crack for 0.5 percent very low-sulphur fuel oil (VLSFO) fell on Friday, but posted a third weekly gain in the wake of tighter supplies. In Asian trading hours, the front-month VLSFO crack reduced by 3 cents to $19.64 per barrel. However, the crack has increased by about 2% this week, according to Refinitiv …
Asia Fuel Oil VLSFO crack inches down, cash differentials slip Read More »
“Transportation and safety, as well as standards and regulation, are going to be nothing short of boundary conditions in this energy transition.” That was the message for the hydrogen industry from Christopher J. Wiernicki, ABS Chairman, President, and CEO in a keynote speech to open the American Hydrogen Forum. “The biggest challenge we all face …
The Awilco LNG Group reported unaudited results for the three months ended December 31, 2021. HIGHLIGHTS FOURTH QUARTER [1]) · Awilco LNG achieved a net result of USD 5.8 million and earnings per share of USD 0.04 for fourth quarter, up from net result of USD 5.1 million and earnings per share of USD 0.04 …
Klaveness Combination Carriers ASA (“KCC”) delivered record high results for fourth quarter 2021, with EBT of USD 15.1 million and adjusted EBITDA of USD 19.5 million, a 149% increase and a 9% increase Q-o-Q respectively. The results were spurred by strong earnings of the CLEANBU fleet, 94% CLEANBU combination trading, a continued strong dry bulk …
