The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, gained on Wednesday, helped by strong demand for panamax and supramax vessels. The Baltic dry index was up 3 points, or 0.3%, at 1,115. The panamax index rose 39 points, or 3.1%, to 1,291, gaining for a fifth straight …
Baltic Index Rises On Higher Panamax, Supramax Rates Read More »
The sale of Sam (formerly Zoya 1), an almost 25-year-old 300,500 DWT crude oil tanker, marks the end of the fourth longest streak of zero VLCC demolitions in history, this time lasting 512 days. The last VLCC to be demolished was the 300,361 DWT “Watban” which was scrapped in Bangladesh in June 2019. In January …
Sale of 25-year-old VLCC ends 512 days demolition draught Read More »
During the third quarter A.P. Moller – Maersk improved profitability across the business and delivered strong free cash flow, despite the negative impact on global economies from the COVID-19 pandemic. The company grew earnings before interest, tax, depreciation and amortisation (EBITDA) 39 pct. to USD 2.3bn with revenue decreasing 1.4 pct. to USD 9.9bn. The …
Why container lines might not want a return to business as normal. The heart-lifting scientific breakthrough for a potential COVID-19 vaccine is now diverting the world’s attention to the logistics of how will it all be moved when it becomes available. What will the wider media and general population find when they cast their eyes …
Global container shipping rates have surged to records on a spike in restocking demand in the United States and Europe, container scarcity at export hubs, and changes in freight flows because of the coronavirus pandemic, shipping sources said. The Freightos Baltic Global Container Index (FBX), a weighted average of 12 major global container routes, rose …
Container freight rates soar on consumer goods boom, supply chain kinks Read More »
Norwegian seismic player TGS has kicked off the Malvinas 3D project in Argentina and scored two surveys offshore Brazil. The Malvinas survey was first announced to the market on 4 August this year. The BGP vessel Prospector will acquire approximately 5,000 square kilometres, which will bring the total coverage in the area to 18,000 square …
TGS in new Brazil seismic projects as Argentina 3D shoot kicks off Read More »
The sale of an almost 25-year-old crude oil tanker marks the end of the 4th longest streak of zero VLCC demolitions in history, lasting 512 days, BIMCO said. The 300,500 dwt VLCC named Sam (formerly Zoya 1) experienced a fire while undergoing maintenance in January this year. As Offshore Energy – Green Marine reported, two …
BIMCO: Sale of 25-year-old VLCC ends 512 days demolition drought Read More »
ProCon Wind Energy has signed a contract with Bladt Industries to provide the electrical installation and outfitting of the transition pieces for the Kaskasi offshore wind project in Germany. Purchasing related to the project has already started, while the installation and outfitting are set to kick-start in January and actively be carried out starting from …
ProCon joins Bladt on Kaskasi offshore wind project Read More »
Dunkerque LNG, the operator of the Dunkirk import facility has completed the adaptation of its jetty to accommodate small-scale LNG vessels. Courtesy of Dunkerque LNG “Commissioned in 2016, the Dunkirk terminal was originally designed with a single jetty for LNGCs with a capacity of between 65,000 cubic meters and 266,000 cubic meters”, said Luc Warzee, …
Dunkerque LNG adapts jetty for small-scale LNG carriers Read More »
Once again, the Equinor-operated Johan Sverdrup field is increasing its daily production capacity, expecting to reach around 500,000 barrels of oil per day by the end of the year. This is around 60,000 barrels more than the original basis when the field came on stream, Equinor said on Wednesday. Equinor and its partners have tested …
