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The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was up on Friday, advancing for a second week in a row, on higher rates across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, climbed 62 points, or 2.7%, to a more …
Baltic index posts second weekly jump as vessel demand grows Read More »
Remote surveys directed by DNV experts ashore, with crews handling cameras on vessels, have become more common as Covid-19 lockdowns have prevented surveyors travelling to some locations. Covid aside, a remote survey avoids waiting time for a surveyor to reach the vessel, as well as unnecessary travel costs. Surveys can be performed by remote surveyors …
In an interesting decision concerning the implication of terms into guarantees, which may raise alarm bells for some parties in the maritime sector, the English Commercial Court has considered the circumstances in which a party may be able to obtain security for claims against a guarantor. The decision in CVLC Three Carrier Corp & Anr …
An independent study has reconfirmed that greenhouse gas (GHG) reductions of up to 23% are achievable now from using LNG as a marine fuel, depending on the marine technology employed. This is compared with the emissions of current oil-based marine fuels measured from Well-to-Wake (WtW). The 2nd Lifecycle GHG Emission Study on the use of …
Independent study confirms LNG reduces shipping GHG emissions by up to 23% Read More »
The composite index slid 0.1% or $6 this week, however, remains 220.7% higher than a year ago. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,108 per 40ft container, which is $3,320 higher than the five-year average of $1,788 per 40ft container. Drewry’s composite World Container index slid 0.1% or …
Drewry: World Container Index Steady This Week, But 220.7% Up on Yearly Basis Read More »
ePropulsion, global leader and market challenger in marine electric propulsion systems and services, has announced that all Spirit 1.0 Plus and new Evo series products purchased from 1st January 2021 – 31st December 2021 are eligible for an extended warranty of one year on top of its two year warranty service period, for free. This …
New ePropulsion Products To Benefit From One Year Extended Warranty Read More »
Freight in the Asian palm market has risen in the past two months, underpinned by expectations of stronger exports to India in March and April and heightened intra-Asia activity in the specialty chemicals market, according to sources. “Freight started rising from mid-February, Straits [of Malacca] to India is up almost $10/mt from then. It is …
Asian palm freight rises on strong April demand: sources Read More »
SEACOR Holdings Inc. and American Industrial Partners (“AIP”) today announced the completion of the acquisition of SEACOR by AIP and its affiliates following their receipt of 70.4% of outstanding shares validly tendered as of the expiration time of the tender offer. “Today marks an important milestone for SEACOR. I am confident in the Company’s smooth …
High sulfur fuel oil premiums in Fujairah over Singapore have climbed to a record this month, with more product heading to Asia before the big power demand season in the Middle East when air conditioners are cranked up to beat the summer heat. Reflecting the tight supply situation in Fujairah on the UAE’s east coast, …
Fuel oil premium hits record high in Fujairah ahead of big A/C power demand season Read More »
