The Baltic Exchange’s main sea freight index was nearly flat on Friday, as capesize rates gained for the first time in twelve sessions countering a fall in rates of other vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down two points, or 0.2%, at 1,267 …
Baltic index flat as capesize gains offset dip in other vessels Read More »
Since the BIMCO Shipping KPI system was launched in 2011, the system has been based on a rating concept. With the release of BIMCO Shipping KPI version 4 at the end of September, the rating concept will be replaced by a ranking concept as dominant benchmarking concept. Whereas rating depends on an aggregated calculation, ranking …
New Benchmarking Concept Will Dominate Shipping KPI Read More »
The composite index decreased 0.5% this week but 76.9% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,780 per 40ft container, which is $354 higher than the five-year average of $1,426 per 40ft container. Drewry’s composite World Container index contracted 0.5% to …
Global supply chains for goods and commodities were already fractured before Covid-19 arrived. All the pandemic did was amplify the “profound fault lines” in the functioning of those chains and lay bare where improvements need to be made, according to UNCTAD. Piergiuseppe Fortunato, economic affairs officer at the UN trade body, highlights the “fragility” of …
Resilience, reshoring and the ultimate trade shock Read More »
Container shipping has sailed through the coronavirus pandemic largely unscathed, as ship-sharing alliances and supply curbs to bolster freight rates have helped operators to offset tepid trade demand. These new approaches to manage capacity will help the industry cope with the long-term challenge of overcapacity in the years ahead. In 2017, a fragmented container shipping …
Shipping alliances help container industry boost freight rates in coronavirus pandemic Read More »
Two Iranian-flagged tankers transporting fuel are sailing round Africa’s Cape of Good Hope en route to the Atlantic Ocean, according to Refinitiv Eikon’s vessel tracking data. The medium-size vessels Forest and Fortune, carrying about 300,000 barrels of fuel each loaded at Iran’s Bandar Abbas terminal last month, are bound for Venezuela, according to sources with …
Iranian fuel tankers round Africa en route to the Atlantic: data Read More »
DNV GL has presented Hyundai Heavy Industries (HHI) with a general approval for ship application (GASA) for a new concept of very large crude carriers (VLCCs) with a centreline oil-tight longitudinal bulkhead. The new design will reduce potential damage and operational risk by featuring a simpler structural arrangement, loading patterns and piping arrangements. Vidar Dolonen, …
DNV GL awards GASA to HHI for a centreline oil-tight longitudinal bulkhead Read More »
ReCAAP Information Sharing Centre released the August 2020 Report on the situation of piracy and armed robbery against ships in Asia. Overall Situation In August 2020, six incidents of armed robbery against ships were reported in Asia No piracy incident was reported There was no report of abduction of crew in the Sulu-Celebes Seas and …
ReCAAP: Six Armed Robbery Incidents in Asia During August Read More »
LR has awarded Approval in Principle (AiP) to Hyundai Heavy Industries (HHI) for its Digital Health Management (DHM) System for a Type B gas containment tank, following a Joint Development Project (JDP) between the two parties launched in November 2019. The system, Hyundai Prismatic Independent IMO Type B Tank eXcellence (HiPIX), has been assessed by …
LR awards Digital Twin Ready AiP to HHI for gas containment tank Read More »
Leading Classification Society ClassNK conducted the third-party verification with a reasonable level of assurance for a GHG assertion of IINO KAIUN KAISHA LTD.(“IINO LINES”) and group companies, and issued a verification statement. As actions against climate change has increased the importance as criteria for corporate evaluation, not a few companies are encouraged to disclose their …
