The composite index increased 0.5% this week, and 81.5% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,927 per 40ft container, which is $454 higher than the five-year average of $1,473 per 40ft container. Drewry’s composite World Container index increased by 0.5% …
Drewry: World Container Index Up 0.5% on Week, But 81.5% Year-on-Year Read More »
“There has been substantial industry lobbying of the EU Commission for an extension to the deadline for compliance to allow for the unprecedented delays caused by Covid-19.” On 30 June 2020, we published an article discussing the additional difficulties the Covid-19 pandemic presented for shipowners in meeting the 31 December 2020 deadline for IHM compliance …
European Commission gives IHM enforcement guidance Read More »
BIMCO is adapting the currently used SHIPMAN 2009 agreement for use with autonomous ships, but the lack of actual autonomous ships currently in operation will mean ongoing adjustments as the industry forges ahead with its pioneering projects. Publication of the first version is expected in 2021. The digitalisation of the shipping industry manifests itself in …
First ever standard contract for autonomous ship operation underway Read More »
China Tianjin Shipping Index (TSI), an indicator of northern China’s ocean freight rates for both international and domestic shipping markets, stood at 842 points on Thursday, up 0.4 percent compared with the previous working day. The statistical samples of TSI cover 27 international shipping routes from the ports of Tianjin, Qingdao and Caofeidian, and major …
Eagle Bulk Shipping Inc., one of the world’s largest owner-operators within the Supramax / Ultramax drybulk segment, today reported financial results for the three and nine months ended September 30, 2020. Highlights for the Quarter: • Revenues, net of $68.2 million o TCE Revenue (1) for the quarter equated to $42.4 million o Achieved TCE …
Eagle Bulk Shipping Inc. Reports Third Quarter 2020 Results Read More »
South Korean shipping companies are enjoying high growth thanks to the South Korean government’s proactive support. South Korean shipping companies are distinguishing themselves based on the South Korean government’s proactive introduction of environment-friendly policies. The International Maritime Organization applied a fuel sulfur content limit of 0.5 percent instead of 3.5 percent to cross-border navigation at …
Korean Shipping Companies Benefiting from Special Government Guarantee Read More »
BIMCO started reporting from 30 September 2020, a series of articles, informing members of what to expect in the revised International Maritime Solid Bulk Cargoes (IMSBC) Code (Amendment 05-19), which will come into force on 1 January 2021. This is the 4th article in the series. Today, BIMCO reports on the re-classification of Group B …
4th BIMCO report on the IMSBC Code Amendments – Re-classification of dangerous goods Read More »
NYK and its partners have dissolved Marine LNG Zeebrugge NV/SA,* a JV company created to manage the global brand “Gas4Sea” for the bunkering of LNG (liquefied natural gas) fuel for ships. The partners additionally agreed to transfer all shares of the exclusive vessel holding company for the LNG bunkering vessel (LBV) Engie Zeebrugge to NYK …
Global LNG Fuel Bunkering Brand “Gas4Sea” Terminated Read More »
Dutch offshore contractor Heerema Marine Contractors has decided to close its joint ventures in Angola due to poor market conditions. In a statement on Friday, Heerema Marine Contractors said that the ongoing poor market conditions and sustained low oil price mean that the Heerema Angola Joint Ventures were no longer economically viable. Having explored possibilities …
Heerema to wind down ‘no longer economically viable’ Angola business Read More »
Seismic surveys have for decades been a key part of offshore exploration, producing comprehensive imagery of sub-bottom rock formations that allow the location and evaluation of oil and gas deposits. They also find their use in assessments of the seabed for offshore construction, installations of renewable energy infrastructure, academic studies of the geology as well …
