The Baltic Exchange’s main sea freight index marked its largest single-day percentage rise on Thursday, as capesize vessel segment rates jumped 50% on strong iron ore demand. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 281 points, or about 22.6%, …
Baltic index sees best day ever as capesize vessel rates surge Read More »
The U.S. Government has been working hard to close a weakness in its global sanctions web by focusing on illicit shipping practices and sanctions evasion. As the bad actors misusing the shipping industry have been increasingly identified and sanctioned by the U.S. Government, it would be wise for both governmental and private sector participants in …
A New Wave of Compliance is on the Horizon for the Shipping Industry Read More »
On 17 June 2020, the Capesize average earnings jumped a staggering USD 4,250 per day, the largest daily gain since 2013, settling at USD 19,036 per day. Capesize average earnings have rallied in recent weeks, but Wednesday’s observation marks the first time in 2020 that average earnings have risen above the estimated break-even level. For …
Capesize earnings leap USD 4,250 per day – largest daily jump since 2013 Read More »
Global bunker prices were steady last week while short decline was registered on Jun.15. MABUX Global Bunker Index for 380 HSFO decline slightly from $287/MT on June 11 down to $283/MT today, Jun.18 (minus $4), VLSFO – added 1 USD (from $335/MT to $336/MT, MGO LS rose from $408/MT to $411/MT (plus $3). A feared …
Norwegian shipping company Wallenius Wilhelmsen Ocean AS pleaded guilty to charges of criminal cartel conduct in Australia’s Federal Court on Thursday, following an investigation by the country’s competition regulator. The charges relate to the transportation of vehicles, including cars, trucks and buses, to Australia between June 2011 and July 2012, the Australian Competition and Consumer …
Norwegian shipper pleads guilty to cartel conduct in Australia Read More »
Securing community acceptance is a business-critical task, according to a new report on potential costly effects that public opposition to building offshore wind infrastructure could have on projects, looking at the experiences from other renewable energy industries in the United States. And while stakeholder and community feedback is a developer’s must-have, the […] Premium content …
DEME Offshore’s jack-up Apollo has left the REBO terminal in Oostende loaded with the first set of turbine components to be installed on the 487 MW SeaMade wind farm offshore Belgium. Apollo arrived at the REBO heavy load terminal in the Port of Oostende on 14 June, after undergoing spudcan shoes extension at Damen Shiprepair …
Global Wind Service (GWS) has completed the load-out of the wind turbine components for the Coastal Virginia Offshore Wind (CVOW) pilot project in the US. All turbine parts have now been loaded onto Jan De Nul’s jack-up Vole au vent at the port of Halifax in Canada and the vessel is now on her way …
Coastal Virginia turbines start their final journey Read More »
Engineering consultancy Infinity has announced Stephen Hamilton as regional director and green-light for the expansion of the business. Infinity has now entered London energy market, which will operate as a hub for engineering support to the international arena. This should also strengthen the Aberdeen technical offering available to the North Sea client base. The expansion …
A new digital company named ZeroNorth, a spin-off from Maersk Tankers, has been established, aiming to accelerate digitalization of shipping to address CO2 emissions and boost earnings. The company is making available the software Optimise (previously known as SimBunker) to vessel owners and operators, to reduce bunker consumption by determining the optimal speed of each vessel using …
Maersk Tankers launches digital spin-off ZeroNorth Read More »
