Today’s global economic landscape is defined by an unprecedented level of volatility and uncertainty, a sentiment echoed by leading chief economists in the World Economic Forum’s (WEF) latest Chief Economists Outlook report. Far from a fleeting disruption, the prevailing view among 79% of surveyed economists is that current developments signal a “long-term structural shift” in …
Container shipping rates continued their climb this week, fueled by the temporary tariff pause between the U.S. and China, but there are signs that demand underpinning the surge is moderating, financial analysts and maritime consultants said. Ocean vessels transport more than 80% of goods traded globally. Hulking container vessels operated by companies like MSC and …
Tariff-fueled surge in container shipping rates shows signs of peaking Read More »
Data highlights Market average spot rates – 5 June 2025: Far East to US West Coast: USD 5082 per FEU (40ft container) Far East to US East Coast: USD 6160 per FEU Far East to North Europe: USD 2352 per FEU Far East to Mediterranean: USD 3982 per FEU North Europe to US East Coast: USD 2129 per FEU Market mid-high spot rates – 5 June 2025: Far East …
For many years, World Container Index has been the go-to, independent, global reference for index-linked contracts. If your organisation is considering index-linked contracts or requires regional visibility/coverage beyond the eight trade lanes provided below, contact our ocean freight cost benchmarking team. Drewry’s World Container Index increased 41% to $3,527 per 40ft container this week. Our …
Margins for high sulphur fuel oil (HSFO) extended declines for a second consecutive week in Asia, while very low sulphur fuel oil (VLSFO) was down for a third week, data showed on Friday. Prompt-month 380-cst HSFO/Brent crack (FO380BRTCKMc1) closed at a discount of 9 cents a barrel, versus premiums of above $2 in the previous …
Margins for HSFO and VLSFO extend weekly declines Read More »
Lloyd’s Register (LR), HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and Hyundai Heavy Industries (HHI) have signed a Memorandum of Understanding (MoU) to jointly develop a high-efficiency hybrid propulsion system integrated with Solid Oxide Fuel Cell (SOFC) technology for 174,000 cubic metre LNG carriers. The agreement, signed at Norshipping 2025, establishes the framework for …
LR, HD KSOE and HHI sign MoU for hybrid propulsion system for LNG carriers Read More »
Achilles, a global leader in supply chain risk and performance management, has hosted the first meeting of its Business Advisory Group, bringing together maritime leaders during Nor-Shipping 2025. Representatives from Odfjell, Bernard Schulte Shipmanagement, BW LPG, Neptune Lines, SeaSourcing (Anglo-Eastern and Seaspan Corporation) and Stolt met in Oslo to affirm their commitment to collaboration on …
IMO regulations to prevent pollution from garbage must be implemented effectively. The greatest danger to the ocean and marine life comes from plastic, which can float for years and be mistaken for food. A new e-learning course from IMO aims to improve awareness and enhance global implementation of the garbage regulations, including addressing marine plastic …
Reducing marine plastic litter from ships – e-learning course launched Read More »
Pacific International Lines (PIL) marked a significant milestone with the naming ceremony of its latest 8,200 TEU LNG dual-fuel container vessel, Kota Ocean, at the PSA Terminal in Singapore. The event, held in conjunction with Singapore’s 60th anniversary of nation-building, underscores PIL’s commitment to sustainability, efficiency and innovation in the maritime industry. The vessel was …
As world leaders prepare for the third UN Ocean Conference (UNOC3), beginning Monday, 9th of June, in Nice, France, marine conservation experts warn that ocean health has continued to deteriorate across key indicators since the last conference in 2022, despite international commitments to protect marine ecosystems. The conference represents a critical benchmark for assessing whether …
