The Baltic Exchange’s dry bulk sea freight index snapped its four-week winning streak on Friday as rates declined across larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 12 points, or 0.5%, at 2,483. However, it declined by about 22% for the week. The capesize …
Baltic index snaps four-week winning streak as larger vessel rates dip Read More »
At the beginning of the first week of December, the outlook for crude oil freight rates, especially in the VLCC category, isn’t yet stable. In the meantime, there is a strong upturn in the MR-US Gulf in the clean segment. There are signs of an upward trend in the vessel supply with figures above the …
Maritime security risks in the Red Sea have escalated due to the latest spate of attacks on commercial ships in the key oil trade chokepoint, and could spur further rises in already-high regional insurance costs if the trend continues, market participants said Dec. 6. Risks to shipping in the Red Sea and Bab el-Mandeb area …
Red Sea shipping attacks raise tanker insurance costs as security risks escalate Read More »
Overview The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a portfolio of new emission trading scheme (ETS) clauses. BIMCO’s Documentary Committee adopted a new Emission Trading Scheme …
The Freightos Baltic Global index increased 6% month on month in November to $1,156/FEU as carriers had some success in tightening capacity and pushing rates up after prices fell in September and October for most lanes. The overall state of overcapacity in the market, however, is helping keep this rate 11% lower than in 2019. …
Drewry’s World Container Index increased by 6% to $1,461 per 40ft container this week. Our detailed assessment for Thursday, 07 December 2023 The composite index increased by 6% to $1,461 this week and has dropped by 32% when compared with the same week last year. The latest Drewry WCI composite index of $1,461 per 40-ft …
In November 2023, U.S. container import volume decreased from October 2023, with East and Gulf Coast ports experiencing the greatest declines. While the decrease is large, it’s consistent with reductions seen in the last months of prior years. Imports from China also continued to decline, but at a slightly faster pace than the overall numbers. …
Far East fronthauls – a key battleground for carriers to protect profitability. When analyzing the ocean freight shipping industry, our gaze often falls on fronthaul spot rates from the Far East – the world’s manufacturing powerhouse and driver of global trade. 2023 has been a year marked by lower shipping volumes coupled with increased capacity. …
Asia’s cash premiums for 0.5% very low sulphur fuel oil (VLSFO) and high sulphur fuel oil inched higher on Friday after European inventories declined. The Singapore 0.5% VLSFO premium rose to $8.70 a metric ton, from $8.52 a day earlier. The balance-Dec/Jan timespread for VLSFO widened to $7.50 a ton on Friday, compared with $6.95 …
Asia Fuel Oil-Cash premiums gain, ARA stocks decline Read More »
North America Prompt availability is tight for all grades in Houston. One supplier requires lead times of six days to supply VLSFO and LSMGO in the port. Some suppliers have cautioned about potential bunker delays over the weekend due to fog and reduced visibility. VLSFO and LSMGO availability is normal in Bolivar Roads. One supplier …
