The Baltic Exchange’s main sea freight index inched up on Friday helped by an uptick in panamax and supramax rates, and posted its first weekly gain in three due to robust capesize rates. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, …
Baltic index posts weekly gain on robust capesize rates Read More »
In all our previous notes and podcasts we have been relatively bullish on bunker prices rising from their extreme lows at end April, even though at some stages there was a stuttering in the upward trend. The sentiment was driven by tightening oil fundamentals; demand began to rebound and OPEC+ made major cuts to oil …
The Rise in Bunker Prices Has Come to a Halt & the Question now is ‘What Happens Next? Read More »
Projects for standard contracts and clauses covering almost every sector of the shipping industry will be reviewed by BIMCO’s Documentary Committee (DC) when it meets on 21 and 22 September. The gathering of over 70 documentary experts from around the world will take place online for the first time and two new contracts and two …
Slew of new contracts and clauses top BIMCO committee’s upcoming meeting Read More »
LNG tanker queues have begun to form on the US Gulf Coast this week, as three of the US’ major export facilities began ramping up production on improved export economics. A total of seven tankers are in holding patterns just off the US Gulf Coast, with another two currently loading, data from S&P Global Platts …
LNG tanker queues develop on USGC as exporters ramp up production Read More »
The composite index increased 6.1% this week and 104.9% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,802 per 40ft container, which is $371 higher than the five-year average of $1,431 per 40ft container. Drewry’s composite World Container index increased by 6.1% …
The number of ships fuelled by liquefied natural gas (LNG) is expected to more than double by 2030, driven by the shipping industry’s desire to cut emissions, a senior executive at Malaysia’s Petroliam Nasional Bhd (Petronas) said. Currently, less than 400 out of a total of more than 80,000 registered ships, run on LNG as …
LNG-fuelled tankers to more than double by 2030 – Petronas exec Read More »
In tanker and dry bulk shipping, the rate is the rate. It’s whatever the market says it is. It can be below zero (net of costs). It can be six figures per day. No government can intervene. This is definitely not the case in container shipping. Record-high trans-Pacific spot rates and container-equipment shortfalls in Asia …
Red-hot ocean rates could spark government intervention Read More »
SEACOR Marine Holdings Inc. (NYSE:SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore oil and natural gas and wind farm facilities worldwide, yesterday announced it has formed a Sustainability Council to oversee the Company’s enhanced Environmental, Social and Governance (ESG) program. In conjunction with today’s announcement, SEACOR …
SEACOR Marine Forms New Sustainability Council to Lead Enhanced ESG Program Read More »
The US Federal Maritime Commission is reviewing the container shipping market for possible non-competitive practices after container rates to the US Atlantic and Pacific coasts set new records in the week to Sept. 17. The US shipping industry regulator said in a statement on Sept. 16 that it was increasing its scrutiny of the three …
US shipping regulator issues warning after container rates hit record highs Read More »
A pillar of warm air and vapour bursts out of the ocean, reaching three storeys into the sky. It is an exhalation from the blowhole of a blue whale – the largest animal to ever exist, and yet a species hunted nearly to extinction by commercial whaling. While whaling has decreased dramatically over the past …
This new technology can save whales from ship collisions Read More »
