The fourth week of February brought a downward correction in the sharp rise of VLCC AG-China rates, which had surged following the announcement of U.S. sanctions on Russian crude oil destined for China and other Asian markets. The geopolitical shock once again played a critical role in driving volatility in dirty tanker freight rates, giving …
VLCC AG & Aframax Mediterranean Vessel Count & Market Rates Read More »
Asia’s high sulfur fuel oil refining margins have surged to a 17-month high, driven by limited prompt availability and expectations for tighter overall supplies due to recent US sanctions on Russia’s energy industry, with downstream bunker demand expected to remain relatively healthy this year. The Platts-assessed front-month crack spread for Singapore 380 CST HSFO against …
In 2025, the twin pressures of environmental regulations and evolving geopolitical landscapes will shape the shipping industry’s trajectory, according to legal experts. Two key EU legislative developments will significantly impact the industry in 2025: the expansion of the EU Emissions Trading System (EU ETS) and the introduction of FuelEU Maritime (FUEM), Philip Roche, global co-head …
New year of challenges and opportunities for shipping Read More »
Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed. Higher freight costs cut Russian oil sellers’ revenues that are already under pressure from U.S. sanctions and complicated …
Russian oil freight rates soar on sanctions-driven tanker shortage Read More »
Sources from at least two major oil tanker companies said Jan. 24 that their fleets have yet to resume transits through the Red Sea, as they await greenlights from insurers. “We will check with the insurance companies to determine whether their coverage will be valid when the ships move through the Suez Canal,” one of …
Major oil tanker operators await insurers’ nod to resume Red Sea transit Read More »
The United States has clarified to India that tankers loaded with Russian oil have to discharge by Feb. 27 under the latest sanctions targeting Moscow’s oil revenue, India’s oil secretary Pankaj Jain told reporters at an event. Washington this month imposed sweeping sanctions targeting Russian producers and tankers, disrupting supply from the world’s No. 2 …
India says sanctioned Russian oil tankers can discharge before Feb 27 Read More »
Drewry’s World Container Index decreased 11% to $3,445 per 40ft container this week. Our detailed assessment for Thursday, 23 January 2025 The Drewry WCI composite index decreased 11% to $3,445 per 40ft container, 67% below the previous pandemic peak of $10,377 in September 2021, but was 143% higher than the average $1,420 in 2019 (pre-pandemic). …
Drewry: World Container Index Down 11% Last Week Read More »
The Ministry of Transport has announced the launch of the marine survey project in the State of Qatar, with the aim of updating the country’s navigational maritime charts, and establishing a marine traffic division system to regulate the entry and exit of ships through the specified sea lanes, in accordance with the specifications and requirements …
Qatar’s transport ministry launches marine survey project Read More »
Asia’s very low sulphur fuel oil (VLSFO) market weakened on Friday, while trade sources eyed lukewarm bunker demand this week. Cash premium for VLSFO extended declines for fourth trading session, closing at $8.25 a metric ton. Cargo trade was largely quiet, with trade sources expecting a lull in the coming week due to the Lunar …
La naviera española del Grupo Grimaldi es el patrocinador principal del evento gastronómico de referencia en Mallorca y que se ha convertido en un elemento dinamizador del turismo y la gastronomía en temporada baja El concurso se celebrará el lunes 3 de noviembre en el Palau de Congressos de Palma y la ruta de tapas …
