In the following weeks Klaveness Research will in a series of articles have a look at how we believe the fundamentals impacting dry bulk freight rates are shaping up for 2021. In the first article we started off by having a look at the big picture. In the second and third article, we drilled further …
2021 dry bulk outlook – what will happen to the global grain trade? Read More »
The composite index increased 4.9% this week, and 110.7% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,963 per 40ft container, which is $478 higher than the five-year average of $1,485 per 40ft container. Drewry’s composite World Container index increased by 4.9% …
International maritime trade is expected to drop by 4.1% this year, with an anticipated modest recovery in 2021 that is heavily caveated by its forecaster, UNCTAD. Having already stalled last year, trade growth was just 0.5% in 2019, down from 2.8% in 2018, at 11.08 billion tons. Against this backdrop, seaborne trade was already on …
Harnessing the power of the wind to supplement thrust developed by ships’ engines is now a key focus as shipping’s decarbonisation process becomes more pressing. Traditionally viewed with benign scepticism by shipping folk based on wind variance and the practical challenges of putting sails on cargo ships, today’s smart wind propulsion systems are rapidly climbing …
Wind power strengthens as decarbonisation drive becomes more urgent Read More »
Load-out of the first semi-submersible hull for the Ling Shui 17-2 gas field project has been successfully completed in southern China. This was also the first transverse hydraulic shoe load-out of this grade weight to be completed in the country, with a hull structure weighing at 34,000t. Mammoet’s extensive offshore expertise has seen it break …
China’s first transverse hydraulic shoe load-out for hull structure completed Read More »
The methanol industry is watching for changes in US foreign policy under the incoming Biden administration, as well as decarbonization policies that could create new opportunities for the product as a fuel. Methanol trade flows have been altered in recent years owing to sanctions on Iran, but a potential shift in the US stance on …
Methanol industry weighs impact of US-Iran relations, global decarbonization Read More »
North American containerized grain shippers are feeling the effects of the tight container market and there’s no relief in sight. “It’s very difficult to get containers to move grain,” said Greg Northey, vice president of corporate affairs for Pulse Canada. About 30% of what Canadian pulse producers export travels via containers. Rates have gotten so …
Containerized grain shippers feeling brunt of tight market Read More »
Mitsui O.S.K. Lines, Ltd. to yesterday announced that, along with MOL Group company MOL Information Systems, Ltd. (MOLIS; President: Tsuyoshi Yoshida, Headquarters: Minato-ku, Tokyo), it has developed and introduced the Online ABLOG(Note 1) web application(Note 2), which processes and utilizes abstract log (ablog) data, improving operational efficiency both onboard and on shore. Conventionally, crewmembers have …
MOL’s New App Boosts Efficiency with Real-time Processing of Ship Operational Data Read More »
As mentioned in Company Announcement 7/2020 following a strong product tanker market in 1H 2020, the market softened significantly going into 2H 2020. This impacted earnings but even more so, the build-up of products in storage, the declining demand and the continued uncertainty in relation to the COVID-19 pandemic, resulted in a very soft second-hand …
The Clean Arctic Alliance slammed the decision by the International Maritime Organization (IMO) to approve a ban on the use and carriage of heavy fuel oil in the Arctic (HFO), saying that it would leave the Arctic, its Indigenous communities and its wildlife facing the risk of a HFO spill for another decade. The ban …
