The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to a four-week high on Friday, steered by higher rates across vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 72 points, or 4.9%, at 1,545 points, the highest level …
Baltic index hits four-week high as rates climb across vessel segments Read More »
In the second week of February, the sentiment surrounding crude oil freight rates remained unstable. VLCC MEG-China rates showed signs of gathering strength, indicating a firmer momentum. Conversely, in the clean segment, LR2 MEG-Japan rates displayed initial indications of a downward correction. Nevertheless, LR2 (75kdwt) TCE earnings for the Middle East Gulf to Japan continued …
Drewry’s World Container Index dropped by 1% to $3,786 per 40ft container this week. Our detailed assessment for Thursday, 08 February 2024 The composite index dropped by 1% to $3,786 per 40ft container this week and has increased by 90% when compared with the same week last year. The latest Drewry WCI composite index of …
More ships carrying grain were diverted from the Suez Canal to sailings around the Cape of Good Hope this week as concern about attacks on vessels in the Red Sea continued, shipping analysts said on Friday. “Another 13 vessels were diverted this week taking the total cargo diverted away from the Red Sea route to …
More grain ships diverted from Red Sea due to Houthi attacks Read More »
In January 2024, U.S. container import volume increased 7.9% from December 2023—the largest month-over-month growth for January in the last seven years. A 14.9% rise in imports from China fueled the gains with the Ports of Los Angeles and Long Beach getting the lion’s share of it. The combination of the Panama drought and Middle …
January U.S. Container Import Volumes Up 7.9% from December Driven by Chinese Imports Read More »
Asia’s fuel oil market was largely quiet on Friday ahead of a holiday though a stream of offers continued to emerge for high sulphur fuel oil (HSFO) as sellers sought to clear inventory. Cash differentials for HSFO held steadily in discounts, with at least seven sellers putting out offers in the spot market that met …
Asia Fuel Oil-HSFO offering spree continues; trade muted ahead of holiday Read More »
The uncertainty surrounding the use of alternative fuels and the multitude of solutions available to shipowners to cut their vessel emissions, dominated discussions at the first Elaborate Communications Decarbonisation Summit in Athens. The three hour conference, held in front of 120 Greek shipowners, managers, manufacturers and classification societies, outlined the current policy landscape and regulation …
A.P. Moller – Maersk´s (Maersk) greenhouse gas emissions targets have been validated by the Science Based Targets initiative (SBTi) to be in line with the 1.5-degree pathway from the Paris Agreement. This marks an industry first under SBTi’s new Maritime Guidance. While Maersk continues to aim for Net-Zero* greenhouse gas (GHG) emissions for the entire …
Furetank adds another two Vinga vessels to the order line, marking a milestone for the shipping company. Upon delivery, Furetank’s fleet will consist entirely of environmentally proven, top standard vessels with an average age of two years. ”We did our homework. This development towards sustainability has been an amazing journey”, says CEO Lars Höglund. The …
Furetank reaches milestone with new vessel orders: entire fleet renewed Read More »
Odfjell SE today reported its results for the preliminary full-year/ fourth quarter of 2023. The report shows a solid quarter that concludes a record year for Odfjell. Highlights – 4Q23: The time charter earnings in Odfjell Tankers ended at USD 182 million, compared to USD 184 million in 3Q23. EBIT of USD 71 million compared …
Odfjell SE 4Q23: A solid quarter that concludes a record year for Odfjell Read More »
