The Baltic Exchange’s main sea freight index on Thursday declined for a third straight session, weighed down by weaker demand for capesize and panamax vessels. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 50 points, or 3.2%, to 1,518. The …
Baltic index extends decline on weaker capesize, panamax rates Read More »
The ships’ recycling market has been steadily rising during the past few weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the market has taken on a parallel role with our great British summer that is currently being experienced, a scorcher with no end in sight to the hot environment. Demand and …
Summer may be drawing to close in the northern hemisphere but for dry bulk shipowners, the positive tone could continue into early autumn as port delays and diversions provide continued upside, says Maritime Strategies International. July was another positive month for the dry bulk sector, with average monthly spot rates rising to their highest level …
Bottlenecks and inefficiencies are key upside risks for dry bulk market says MSI Read More »
In the past couple of weeks, it has been rather quiet period in the bunker industry, with relatively low prices and abundant supply generally. The World Bunker Index MABUX did not have any firm trend in the last 7 days and changed irregular. The 380 HSFO index rose from 309 to 310 USD/ MT (+1.00 …
Since the bottom out in demand in April, caused by the COVID-19 pandemic, volumes of US-bound containerised goods from the Far East have risen steadily. In parallel with the gradual recovery in imports, container freight rates rose significantly, as widespread blanking of sailings more than matched the requirements of shippers. Last week, no sailings were …
Container freight rates into US West Coast down USD 405 per FEU Read More »
Valaris, offshore drilling contractor with the world’s largest fleet, has filed for bankruptcy protection in an attempt to restructure its debt. Valaris said on Wednesday that it voluntarily filed for a Chapter 11 financial restructuring in the United States Bankruptcy Court for the Southern District of Texas. According to the offshore driller, it aims to …
Shearwater GeoServices has received an award for a towed streamer 3D acquisition by SK Innovation, the operator of Vietnam Block 16-2. “This will be Shearwater’s first seismic survey in Vietnam and our first project for our new client SK Innovation”, said Irene Waage Basili, the CEO of Shearwater GeoServices. “We are well-established in South East …
Shearwater in 3D shoot for SK Innovation off Vietnam Read More »
An industry survey into the transition to using compliant low-sulphur fuel oil since the beginning of 2020 shows that the switch hasn’t been completely pain-free for shipowners as fluctuating fuel oil properties lead to a myriad of issues. The survey focuses on issues such as increased sludge discharge, clogging of fuel pipes, preheaters, fuel separators …
DEME Offshore has signed a contract with Dogger Bank Wind Farm to provide the inter-array cables for Dogger Bank A and Dogger Bank B offshore UK. Under the EPCI contract, DEME will in total supply, install and protect 650km of 66kV inter-array cables and all related accessories. Production will start in 2021 and the company’s …
DEME secures largest-ever inter-array cable order Read More »
Offshore drilling contractor COSL has signed a drilling rig contract with oil company Chrysaor, formalising a letter of intent signed for the rig in July. Earlier this summer, the company’s subsidiary – COSL Drilling Europe – announced that a letter of intent was signed for the use of the sixth-generation semi-submersible rig COSLInnovator. At the …
