Baltic index hits over three-month low as rates for all segments drop

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped to a more than three-month low on Thursday, dragged down by weakness across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 40 points, or 2.3%, to 1,668, …

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New hydrogen demand report unveils once in a generation opportunity

Yesterday – the International Chamber of Shipping (ICS) – presented a new report, written by the Professor of Energy Economics at Biberach University of Applied Sciences, Germany, identifying hydrogen demand sectors, demand locations and the demand-pull timeline at the Malaysia Maritime Week event. The groundbreaking report titled “Turning hydrogen demand into reality: Which sectors come …

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Methane slip being eliminated as LNG uptake accelerates

Industry coalition SEA-LNG has underlined the significant progress being made to eradicate methane slip as uptake of the LNG pathway accelerates. With continued collaborative efforts across the value chain, methane slip will be eliminated for all engine technologies within the decade. Today, 2-stroke diesel cycle engines account for approximately 75% of the LNG-fuelled vessel order …

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Reed Smith wins best shipping law firm at China Business Law Awards for a sixth consecutive year

Global law firm Reed Smith has been named a recommended firm in the shipping industry category at China Business Law Journal’s China Business Law Awards 2024. This is the sixth consecutive year that the firm has received this accolade. The firm was also named, for the first time, a recommended firm for pro bono. Reed …

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