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The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, marked its first weekly gain in three even as it inched lower on Friday on weaker demand in the larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, …
Russian President Vladimir Putin said July 13 that Russia may withdraw from the Black Sea grain deal if its demands are not fulfilled. The Black Sea grain deal is scheduled to expire on July 17. “What I mean is we can suspend our participation in this transaction. If everyone once again says that all the …
Putin says may walk out of Black Sea grain deal if demands not met Read More »
The international shipping industry is a major greenhouse gas emitter, accounting for about three percent of all greenhouse gas emitted last year. For reference, this is roughly equivalent to the total annual emissions of Germany. Because these emissions occur on international waters, the shipping industry was purposefully left out of the 2015 Paris Climate Agreement. …
Can The International Shipping Industry Be Part of the Climate Solution? Read More »
It is scorching out there. High-temperature records are being broken daily. Oceans off some shores are as hot as bathwater. What is to blame? The list of culprits and possible culprits includes fossil fuel emissions, natural climate change, El Nino, changes in the Gulf Stream, the decline in Arctic Sea ice, the so-called Azores High …
Is IMO 2020 shipping regulation worsening global warming? Read More »
In a mid-year assessment of the global economy, Carsten Brzeski, global head of macro and chief economist for the Eurozone, Germany, and Austria at ING, warned of a further weakening of the global economy and a rapid fall in headline inflation for the remainder of the year, with a dearth of central bank rate cuts. …
Monthly sales of marine fuel, also known as bunker fuel, fell to four-month lows in Singapore in June, though bio-blended bunker sales for the first half of 2023 have surpassed 2022 volumes, official data showed on Friday. Singapore’s bunker sales are a key indicator of sentiment at one of the world’s major ports and largest …
Singapore bunker sales slip in June; bio-blended sales rise in H1 2023 Read More »
Drewry’s composite World Container Index increased marginally by 0.9% to $1,488.13 per 40ft container this week. Our detailed assessment for Thursday, 13 July 2023 The composite index has increased marginally by 0.9% to $1,488.13 this week, and has dropped by 78.7% when compared with the same week last year. The latest Drewry WCI composite index …
Drewry: World Container Index Marginally Down Last Week, 78.7% Compared to Last Year Read More »
Turkish President Tayyip Erdogan said on Friday that he is in agreement with Russian President Vladimir Putin that a deal allowing the Black Sea export of Ukraine grain should be extended. Speaking to reporters, Erdogan said that the deal will hopefully be extended from its current July 17 deadline as results of the efforts by …
Erdogan says he is in agreement with Putin that grain deal should be extended Read More »
Asia’s cash differential for very-low sulphur fuel oil (VLSFO) closed the trading week in a discount to Singapore quotes on Friday as bearish fundamentals weighed. Spot 0.5% VLSFO MFO05-SIN-DIF was pegged at a discount of 45 cents per metric ton, though the product’s front-month crack LFO05SGDUBCMc1 rebounded slightly day-on-day at a premium of $8.41 a …
Asia Fuel Oil-VLSFO cash differential ends week in discount Read More »
