Blog – Page 3844 – Seaview Corporate

Methanol bunkering to aid shipping’s decarbonization ambitions: industry experts

Methanol bunkering is set to receive a boost in the near future as maritime decarbonization becomes a focal point for shipping after a fairly smooth transition to the International Maritime Organization’s global low sulfur mandate, industry experts told S&P Global Platts. “As we get towards the end of the decade, alternative fuels will take a …

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Agricultural trade is shipping’s bright star

Agricultural trade has successfully sidestepped the sharp fall in overall merchandise trade in the first half of 2020, but can it continue to avoid the ripple effect of the Covid-19 pandemic? A note from the World Trade Organisation finds that agricultural trade has fared better than other sectors, with initial measures focused on guaranteeing the …

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Baltic Index posts worst week since July on declining panamax, capesize rates

The Baltic Exchange’s main sea freight index dropped on Friday and recorded its biggest weekly fall since July 24, as capesize and panamax rates slipped further. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 33 points, or 2.4%, to 1,362 …

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BHP awards world’s first LNG-fuelled Newcastlemax bulk carrier tender to reduce emissions

BHP has awarded the world’s first LNG-fuelled Newcastlemax bulk carrier tender, with the aim of reducing greenhouse gas (GHG) emissions by more than 30 per cent per voyage. Eastern Pacific Shipping (EPS) has been awarded the five-year time charter contract for five LNG-fuelled Newcastlemax bulk carriers to carry iron ore between Western Australia and China …

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Drewry: World Container Index Up By 9.5% on Week

The composite index increased 9.5% this week and 67.8% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,761per 40ft container, which is $340 higher than the five-year average of $1,421 per 40ft container. Drewry’s composite World Container index strengthened 9.5% to stand …

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Singapore physical 10 ppm gasoil crack hits record low on supply influx, demand headwinds

The Singapore physical 10 ppm sulfur gasoil crack to front-month cash Dubai hit a record low on the back of a supply glut and weak regional demand, with the outlook likely to remain dim in the months ahead as high inventories continue to cap any upside, traders said. At the 0830 GMT close Sept. 3, …

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HMM Q3 earnings outlook brighter amid surging freight rates

South Korea’s leading container carrier HMM Co. is expected to extend earnings growth in the third quarter thanks to surging freight rates. The Shanghai Containerized Freight Index (SCFI), widely cited metric on market freight quotations, is on a bull run, with its comprehensive index reaching 1,263.23 as of August 28 after five straight weeks of …

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CMA CGM Reports Strong Second Quarter Operating Performance With A Further Improvement

The Board of Directors of the CMA CGM Group, a world leader in shipping and logistics, met today under the chairmanship of Rodolphe Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2020. Upon the release of the second quarter results for 2020, Rodolphe Saadé, Chairman and Chief …

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PDVSA ships 2m barrels of oil to client in Venezuela-owned tanker: sources, data

A Venezuela-owned tanker loaded with about two million barrels of oil has set sail in its first international voyage since the United States imposed sanctions on state-run PDVSA, according to two sources and Refinitiv Eikon data. PDVSA this year began offering to ship its own crude, including figuring in the costs, in supply deals to …

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Hong Kong’s OOCL withdraws 9 October trans-Pacific sailings

Hong Kong-listed Orient Overseas Container Line, or OOCL, has withdrawn nine trans-Pacific sailings in October, a statement released on Sept. 3 showed. These blanked sailings fall on October 3, 4, 5, 6, 9, 10, and 17, which coincide with China’s upcoming Golden Week holiday over Oct.1-7. Earlier, cancelled sailings on the trans-Pacific route were on …

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