Baltic index drops for ninth straight session on weaker vessel rates

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dipped for the ninth straight session on Wednesday as rates for all vessel segments weakened. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 54 points, or 3.1%, to 1,708, hitting its …

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Panama Canal to increase transit slots in September as rains come early

The Panama Canal expects to increase the number of daily transit slots for vessels to 36 from the current 34 beginning in September, the canal’s deputy administrator said, as rains allow authorities to ease drought-imposed restrictions. Panama experienced its third-driest year on record in 2023, lowering the canal’s water level and forcing its authority to …

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European Commission launches Ship Financing Portal to boost the maritime sector’s green transition

The Ship Financing Portal, designed to improve access to financing for the shipping sector and the wider maritime industry, is now online! The platform, launched by the European Commission’s Directorate-General for Mobility and Transport, provides businesses and organisations with a repository of available financial tools needed to drive fleet renewal and retrofitting, enhance efficiency, and …

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