The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a 10-session losing streak on Friday, supported by gains in capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 7 points, or 0.4%, to 1,675, after hitting over a …
Baltic index snaps 10-session losing streak as capesize rates gain Read More »
This week’s chart underscores the upward trend in the monthly quantity of Russian crude oil shipments to the Central Mediterranean and the Sea of Marmara. Italy has emerged as the leading destination country, reflecting a significant shift in trade routes. The Suezmax vessel size category has taken a substantial share, accounting for 46% of the …
Tanker Market Monitor: Russian crude oil shipments Read More »
The Freightos Baltic Global index increased 14% month-over-month (MoM) in July to $5,073/FEU – with most of that climb taking place early in the month – surpassing the February peak by 47% and its 2019 level by more than 270% as peak season demand, combined with lingering congestion in some Asian hubs, pushed rates to …
NYK has been recognized for the company’s participation in the 2023 Protecting Blue Whales and Blue Skies vessel speed reduction (VSR) incentive program along the West Coast of North America, a collaborative effort sponsored by the National Marine Sanctuary Foundation,* among others. For a second consecutive year, NYK achieved the Sapphire tier, the top ranking …
Cash premiums for fuel oil continued to ease in Asia on Friday as offers dipped further, though downstream bunker premiums retained support this week. Singapore bunker premiums for very low sulphur fuel oil (VSLFO) held above $25 per metric ton to cargo quotes, as prices remain elevated due to limited supply for prompt delivery dates, …
Asia Fuel Oil-Cash premiums extend slide but bunker prices hold Read More »
Matson, Inc., a leading U.S. carrier in the Pacific, today reported net income of $113.2 million, or $3.31 per diluted share, for the quarter ended June 30, 2024. Net income for the quarter ended June 30, 2023 was $80.8 million, or $2.26 per diluted share. Consolidated revenue for the second quarter 2024 was $847.4 million …
Matson, Inc. Announces Second Quarter 2024 Results Read More »
Mitsui O.S.K. Lines, Ltd. has been awarded an approval in principle (AiP) by Nippon Kaiji Kyokai (ClassNK) for the design of a membrane LNG Carrier installing Wind Challenger (Note 1). This innovative design has been jointly developed by MOL and Hanwha Ocean Co., Ltd. (CEO & Vice Chairman: Kwon Hyek Woong; Head Office: Geoje-si, Korea) …
In July 2022, technology group Wärtsilä announced a plan to ramp down manufacturing in Trieste and to centralise its 4-stroke engine manufacturing in Europe to Vaasa, Finland. The production activities in Trieste have since been discontinued, with manufacturing volumes centralised in Vaasa. Now, Wärtsilä and Mediterranean Shipping Company (MSC) have agreed on a transaction of …
Wärtsilä to transfer its manufacturing site in Trieste, Italy to shipping company MSC Read More »
Nippon Yusen Kabushiki Kaisha (NYK) participated in International & Indonesia CCS Forum 2024 from July 31 to August 1, an event to promote international discussion and cooperation on carbon dioxide (CO2) capture and storage (CCS)* technology. This was NYK’s first participation in this forum, held for a second consecutive year in Jakarta, Indonesia. Supported by …
Ocean Network Express (ONE) released the financial result for FY2024 1st Quarter (from April 2024 to June 2024). The revenue for FY2024 1st quarter was US$4,211million, up 12% from the same quarter of the last year, with net profit of US$779million (YoY +US$266million). Cargo movements have improved due the increased consumer spending in North America …
Ocean Network Express released Financial Result for FY2024 1st Quarter Read More »
