The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, snapped a five-session winning streak on Wednesday, on a dip in capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 27 points, or 2.4%, to 1,123. The capesize index dropped by …
Baltic index snaps 5-day winning streak as capesize rates slip Read More »
In early August, Atlantic Capesize freight rates posted significant increases on both a weekly and monthly basis, driving the Baltic C5TC (Timecharter Average $/d) to a weekly increase of 32%. Capesize route C8 (Transatlantic Round Gibraltar/Hamburg $/d) saw a 70% increase and the C7 route (Bolivar to Rotterdam $/mt) saw a 26% increase (WoW). Overall, …
Dry Bulk Market: Capesize Iron Ore Flows From Australia to the Far East a Mixed Bag Read More »
Norwegian company Eitzen has acquired B-Gas A/S, B-Gas NSG, B-Gas Pelagic and their subsidiaries from Bergshav and its partners. B-Gas As explained, B-Gas owns and operates ten liquified petroleum gas (LPG) vessels, which mainly operate in the northwest European market. The company also commercially controls three LPG carriers though commercial management and time charters. The …
Norway’s Eitzen adds a fleet of LPG carriers with acquisition of B-Gas Read More »
How an e-fuel mandate in the UK could help achieve decarbonisation pathways by driving up uptake of zero emission shipping fuels. In 2021, UK shipping used almost 7 million tonnes of fossil marine fuel oil, and produced almost one fifth of all UK transport emissions. The government is currently considering policies to decarbonise the UK …
Implications of an e-fuel mandate for UK shipping Read More »
During the peak of the supply chain crisis, accusations flew, alleging that shipping lines were somehow colluding to prop up rates and gouge customers. Recent results posted by ocean carriers undermine those claims. They show the container shipping market behaving the same way commodity shipping markets always have: Rates spike when cargo demand exceeds transport …
Shipping line ONE’s profits plunge but still top pre-COVID levels Read More »
Yanmar Power Technology Co., Ltd. (YPT), a subsidiary of Yanmar Holdings, has successfully commercialized a maritime hydrogen fuel cell system towards decarbonization of the maritime industry. The company plans to propose the installation of this system into various ships, including passenger ships, work ships, and cargo ships operating in coastal areas where hydrogen refueling is …
Yanmar to Commercialize Maritime Hydrogen Fuel Cell System to Decarbonize Ships Read More »
The marine industry is constantly growing and has always played a vital role in global trade and transportation. As the industry evolves and adapts, advancements in technology, environmental consciousness, and shifting geopolitical landscapes are poised to reshape this essential sector. This blog will try to predict how the marine industry could look in the next …
Navigating the future: a glimpse into the marine industry in 2033 Read More »
Hengli Engine (Dalian) Co., Ltd., a subsidiary of Hengli Heavy Industry, has entered into a patent licensing agreement with marine engine powerhouse MAN Energy Solutions. Image credit: Hengli Heavy industries The signing ceremony, attended by prominent figures from both companies, was held on July 31, marking the official initiation of Hengli’s engine manufacturing business. The …
Greek electricity grid operator Independent Power Transmission Operator (IPTO or Admie) has put into operation the upgraded Zakynthos-Kyllini interconnection, said to secure the energy supply of the Ionian Islands. Source: Hellenic Cables The new 150 kV high-voltage submarine cable system replaced the existing interconnection, which had been in continuous operation since the early 1980s and faced …
Greece: Upgraded Ionian Islands interconnector begins operation Read More »
Abu Dhabi-headquartered Ocean Oilfield Drilling has revealed that one of its jack-up rigs arrived at an offshore gas field in the UAE a few days ago and started its work for Atlantis (UAQ) Limited. Aras Driller jack-up rig; Source: Ocean Oilfield After the Aras Driller jack-up rig completed its Kuzey Marmara underground gas storage drilling …
WATCH: UAE driller’s 44-year old jack-up rig kicks off its new assignment Read More »
