Baltic index snaps 3-day losing streak as supramax rates climb

The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, snapped its three-session losing streak on Thursday, as rising supramax rates countered weakness in the larger vessel segments. The index, which factors in rates for capesize, panamax and supramax shipping vessels, rose by four points to 780 …

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T&E, shipping and aviation industry jointly call for urgent action to ramp up clean fuel production

European Shipowners (ECSA), Airlines for Europe (A4E), which represent the shipping and aviation sector at European level, along with the green transport group Transport & Environment (T&E) issue today a joint statement calling on the Commission and the EU member states to ramp up the production of clean shipping and aviation fuels in Europe. T&E …

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UN talks on a global carbon price on shipping enter final stage

Governments are expected to close in on key shipping climate laws–including a global carbon price–at the 18th intersessional meeting at the UN’s International Maritime Organization (IMO), on 17-21 February in London. Over 50 countries from Europe, Africa, Asia, the Pacific and the Caribbean support this mechanism at the IMO, representing a majority of the world’s …

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Austal Australasia awarded approx A$270 million contract to design and construct 130 metre ‘hydrogen ready’ high speed ferry

Austal Limited (ASX: ASB) is pleased to announce Austal Australasia has been awarded a contract valued between A$265 and A$275 million by Gotlandsbolaget of Sweden, for the design and construction of a 130-metre combined cycle, ‘hydrogen-ready’ vehicle passenger ferry. Part of Gotlandsbolaget’s ‘Horizon X’ program, the high-speed ROPAX catamaran will be the largest vessel ever …

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US sanctions strand Iran, Russia oil on tankers, driving up crude costs

The amount of Russian and Iranian oil held on ships has hit multi-month highs as harsher U.S. sanctions reduced the number of buyers, leaving fewer tankers available to deliver cargoes and driving up crude costs, trade sources and analysts said. Washington has imposed multiple rounds of sanctions on ships and entities dealing with oil from …

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