The Baltic exchange’s main sea freight index rose on Wednesday, snapping a five-session losing streak, as an uptick in the smaller panamax and supramax vessel segments more than offset a dip in capesize rates. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 6 points, or …
Baltic index gains as rates for smaller vessels rise Read More »
The beauty of shipping investments is their cyclical nature embedded in the industry and although there are always explanations and reasons for each leg of the cycle, usually ex post, the plain reality is that shipping rates go up and down because this is just the natural behavior of the shipping market balance: Sometimes demand …
Dry Bulk Correction Underway. Where is the Bottom? Read More »
Ammonia and hydrogen will be the main marine fuels if the world reaches net-zero in 2050, accounting for about 60% of the market together and with ammonia occupying the largest share, the International Energy Agency said May 18. Outlining its first road map for how the global energy sector can achieve net-zero emissions, the IEA …
Ammonia to power 45% of shipping in 2050 net-zero scenario: IEA Read More »
The surge in US container imports continued in April when West Coast loaded imports amounted to 1.10m TEU. Imports had never exceeded this level until August 2020, and developments in the past nine months mean that April imports are only the sixth highest on record. In the first four months of the year volumes are …
US West Coast imports exceed 1m TEU in nine out of ten past months Read More »
DNV’s new Mobile Inspection App helps ship owners and managers digitalize and streamline the workflow, recording and follow-up of their onboard safety inspections. The app also provides onshore staff with instant access to the results. Efficient recording of owners’ safety inspections Many shipping companies are aware of the possibility of inconsistent or incomplete safety reporting …
German shipowner John T. Essberger Group has signed final agreements with China Merchants Jinling Shipyard Dingheng Co. Ltd to build four 6,600 dwt stainless steel parcel chemical tankers with options for an additional four vessels. Photo: FKAB Marine Design As informed, the stainless steel tankers, IMO Type II, will all have dual-fuel LNG propulsion and …
Essberger orders 4+4 LNG-powered chemical tankers in China Read More »
Ship Recycling Transparency Initiative (SRTI) hosted by the Sustainable Shipping Initiative (SSI) has reached the number of 3,439 vessels whose owners and operators are part of the responsible ship recycling program, according to a new report. The SRTI annual progress report is compiling data from twelve major shipowners, which, compared to the report published in …
SRTI report: Twelve major shipowners to accelerate responsible ship recycling Read More »
Orbital Marine Power has signed an agreement with Perpetuus Tidal Energy Centre (PTEC) to deploy its tidal turbines offshore the Isle of Wight. Orbital Marine’s O2 tidal turbine (Courtesy of Orbital Marine Power) PTEC has gained offshore consents to place tidal turbines in the sea off the south coast of the Isle of Wight, and …
Orbital Marine signs up for PTEC berth off the Isle of Wight Read More »
German marine energy start-up SINN Power has opened an office in the Americas and appointed three new members to its team. SINN Power’s Americas team (Courtesy of SINN Power) Operating from El Salvador, SINN Power’s Americas team has welcomed Jose Melero, Alejandro and Rafael Palacios as its new members. The trio will be working to …
Finnish ferry operator Finnlines has contracted clean technology company Silverstream Technologies to install its air lubrication technology on two environmentally friendly newbuild roll-on/roll-off passenger (RoPax) vessels. The construction of the first unit is expected to begin this summer at China Merchants Nanjing Jinling Shipyard (Weihai). As explained, the Silverstream System will reduce fuel consumption and associated …
Silverstream tech ordered for Finnlines’ new RoPaxes Read More »
