The shipping industry is facing a pressing challenge: the need to decarbonise and reduce its impact on climate change. As regulators push for stricter environmental standards, the use of biofuels in shipping has emerged as a promising solution. Biofuels, such as methane, methanol, and fuel oils derived from biomass, offer a convenient and potentially carbon-neutral …
Drewry’s composite World Container Index increased by 3.3% to $1,536.86 per 40ft container this week. Our detailed assessment for Thursday, 20 July 2023 The composite index has increased by 3.3% to $1,536.86 this week, and has dropped by 77.5% when compared with the same week last year. The latest Drewry WCI composite index of $1,536.86 …
The number of ships looking to pick up grain cargoes from the Black Sea area has fallen 35% this week versus the previous week with growing uncertainty over whether commercial traffic could be hit as Russia continues to pound food facilities in Ukraine. Moscow’s direct attacks on Ukraine’s grain for four days running followed a …
Black Sea shipping traffic slowing after Russia, Ukraine warnings Read More »
ABS Chairman and Chief Executive Officer, Christopher J. Wiernicki, and the Board of Directors have announced that John McDonald was elected President of ABS at its Board meeting on July 18. McDonald, who has served as Executive Vice President and Chief Operating Officer of the company since July 2021, will take on the title of …
ABS Board of Directors Elects John McDonald President Read More »
Russia pounded Ukrainian food export facilities for a fourth day in a row on Friday and practised seizing ships in the Black Sea in an escalation of what Western leaders say is an attempt to wriggle out of sanctions by threatening a global food crisis. The direct attacks on Ukraine’s grain, a key part of …
Russia hits Ukraine’s grain for fourth day, practises seizing ships Read More »
Russia wants to be able to inspect ships bound for Ukrainian Black sea ports if necessary following its withdrawal from the grain deal, Russian Deputy Foreign Minister Sergei Vershinin said on Friday. “We have to make sure that the ship is not carrying something bad, it means a request, inspection, if necessary, to make sure …
Russia says it wants option to inspect ships heading to Ukrainian ports Read More »
The Hi-5 fuel oil spread, which is the premium of very-low sulphur fuel oil (VLSFO) over high-sulphur fuel oil (HSFO), narrowed by nearly 10% from last week, data showed on Friday. The August Hi-5 spread crunched to $85.25 a metric ton at the Asia close (0830 GMT) on Friday, Refinitiv data showed. The VLSFO market …
Asia Fuel Oil-Hi-5 spread slips nearly 10% from previous week Read More »
Teekay Corporation, the 2023 ShipTek Tanker Operator of the Year, has agreed to pilot SulNOxEco Fuel Conditioner, developed by the UK’s SulNOx Group PLC. Last month Constantine Logothetis, co-founder of Lomar Shipping owner Libra Group, acquired a 16.3% stake in SulNOx. The pilot highlights Teekay’s ambition to decarbonise and lead shipping’s immediate efforts in the …
Teekay partners withSulNOx to pilot greener fuel conditioner Read More »
Russian Deputy Foreign Minister Sergei Vershinin on Friday accused Ukraine of using a grain export corridor in the Black Sea to launch “terrorist attacks” against Russian interests, including one this weekon the Crimean Bridge. Vershinin was addressinga briefing about Russia’s decision on Mondayto quit the year-oldBlack Sea grain deal, in which Russia had guaranteed safe …
Russian diplomat accuses Ukraine of using Black Sea grain corridor for attacks Read More »
The Ministry of Defense of Ukraine declared that since 00:00 21 July 2023, Kyiv Time, all vessels in the Black sea waters that head to the ports of the russian federation or to temporarily occupied ports of Ukraine, may be considered for risk assessment as vessels carrying a military cargo. Moreover, navigation in the North-East …
Ukraine Issues Warning on All Vessels That Head to Russian Ports Read More »
