Baltic Index Dips To Near Two-Week Low As Vessel Rates Fall Across All Segments

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry bulk commodities, fell to a near two-week low on Tuesday, as vessel rates weakened across the board. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 137 points, or 5.1%, to 2,557 points, its …

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ABS Chairman and CEO Named International Personality of the Year at the Greek Shipping Awards

ABS Chairman and Chief Executive Christopher J. Wiernicki was named International Personality of the Year at the Lloyds List Greek Shipping Awards, the second time he has received the honor. The accolade followed ABS being named Number One Classification Society by Gross Tonnage in the annual Lloyds List ranking of the Top 10 Class Organizations. …

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Fitch Ratings: Global Shipping Outlook Is Deteriorating in 2026

Fitch Ratings has maintained its deteriorating outlook for the global shipping sector, reflecting geopolitical and policy risks, according to an Outlook report released today. The sector will also be affected by the lower GDP growth we expect across most major economies in 2026 compared to 2025, with downside risk from any correction in financial markets. …

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LR and Latsco chart a new digital course for ship classification

Lloyd’s Register (LR) and Latsco have successfully completed a proof-of-concept for a new standard in digital class assurance with data-driven surveys. This collaboration aims to demonstrate how verified operational vessel data can fully meet class survey requirements, without compromising safety, integrity, or technical rigour. The proof-of-concept was conducted on the vessel HELLAS MARGARITA during an …

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TotalEnergies augments its oil portfolio offshore Namibia through deal with Galp

French energy giant TotalEnergies has shaken hands with Portuguese oil and gas company Galp on a deal that will enable it to enter the PEL 83 license, encompassing an oil discovery off the coast of Namibia, by taking over the operator baton. Galp is getting a minor stake in the French player’s giant black gold discovery as …

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BP fires up more gas wells off Trinidad as terminal electrification works continue in Azerbaijan

While construction activities for its terminal electrification project are underway in Azerbaijan, the UK-headquartered energy giant BP has drilled and put into production mode three remaining wells in its seven-well drilling campaign off the coast of Trinidad and Tobago.   The post BP fires up more gas wells off Trinidad as terminal electrification works continue …

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