The container shipping market is in a state of flux and is harder to forecast than previously. But a Drewry survey of buyers of spot rates supports the view that spot rates will rise in July. Over the past year, spot container freight rates have continuously dropped from the previous Covid-related crazy levels of 2021-mid …
Drewry survey: Buyers of spot rates expect increases in July Read More »
This year promises to herald an ocean freight peak season like no other – namely, one lacking peaks – as demand continues to wane on key global shipping trades. In a ‘spooked’ economic and geopolitical post-Covid environment, carriers are now busy revising strategies for the traditionally high volume Q3 period. Planned Peak Season Surcharges (PSS) …
The International Energy Agency’s latest report Oil 2023: Analysis and Forecast to 2028 reveals that world oil trade is experiencing an “unprecedented sea change” due to international embargoes on Russian energy exports. These shifts are unlikely to revert to the previous status quo for the foreseeable future, according to the report. With approximately 2.5 million …
World oil trade flows undergoing “unprecedented sea change” Read More »
In April 2018, the International Maritime Organization (IMO) took the unprecedented step of committing the shipping industry to a net-zero target, aiming to eliminate greenhouse gas (GHG) emissions within the century. The initial IMO 2050 strategy aims to halve GHG emissions from ships by 2050 from a 2008 baseline. It also envisages a reduction in …
Drewry’s composite World Container Index decreased by 5% to $1,592.25 per 40ft container this week. Our detailed assessment for Thursday, 15 June 2023 • The composite index has decreased by 5% to $1,592 this week, and has dropped by 79% when compared with the same week last year. • The latest Drewry WCI composite index …
A Kremlin aide urged the Russian government on Thursday to adopt legislation allowing foreign flagged vessels to use the Northern Sea Route (NSR), which Moscow wants to turn into a new Suez Canal. The NSR runs from Murmansk near Russia’s border with Norway eastwards to the Bering Strait near Alaska. Although the route is physically …
Kremlin urges faster action to let foreign vessels use Northern Sea Route Read More »
MPC Container Ships is pleased to announce a series of strategic measures aimed at further optimizing its portfolio and enhancing its fleet composition. These measures include: • Acquisition of five modern eco-design vessels for USD 136.3 million • Term sheet signed for USD 50 million acquisition financing • Secured USD 75 million lease financing with …
Ardmore Shipping Corporation announced today that it has published its 2022 Sustainability Report (the “Report”). The Report outlines the Company’s multifaceted initiatives and progress towards a more sustainable future, with decarbonization as a core objective. The Report is available on the Ardmore website at www.ardmoreshipping.com/about/progress/. On the occasion of the Report’s third annual publication, Ardmore …
Konecranes has signed a EUR 350 million sustainability-linked revolving credit facility with its core relationship banks. The committed credit facility has a tenor of five years with two one-year extension options. The facility refinances the existing EUR 400 million facility signed in December 2017 and will be used for the general corporate purposes of the …
Konecranes signs EUR 350 million ESG-linked revolving credit facility Read More »
La naviera Baleària seguirá gestionando durante un año más la línea de interés público que conecta el puerto de Algeciras con la Ciudad Autónoma de Ceuta, según una resolución de la Dirección General de la Marina Mercante. El Ministerio de Transportes, Movilidad y Agenda Urbana (MITMA) ha adjudicado el contrato para la gestión de esta …
Balearia renueva su concesión para la línea de interés público entre Ceuta y Algeciras Read More »
