Baltic Dry Index Up for 3rd Day

The Baltic Exchange’s dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, was up for a third session on Monday, rising about 1.4% to its highest level since August 12 at 2,882 points, supported by gains across all vessel segments. The capesize index, which typically transports 150,000-ton cargoes including iron ore …

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Platts Container Index rises to $7,565/FEU, hitting highest level in 2026

The Platts Container Index, a weighted average of key container routes, rose to $7,565/FEU on Aug. 21, increasing by $3,052.3/FEU and surpassing the previous 2026 high of $4,512.7/FEU on June 1 amid volatility on major container routes. Panama restrictions The North American trade lanes, which have the highest weightings in the PCI, hit a four-year …

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Iran threatens to fine, detain vessels violating Hormuz transit rules

Iran warned that vessels violating its rules for transiting the Strait of Hormuz could face penalties including fines, detention or confiscation, according to a post on X from the Persian Gulf Strait Authority (PGSA). The PGSA, a newly created Iranian body tasked with overseeing the strait, said cargo owners should consult an updated list of …

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McDermott clinches over $1 billion EPCI job for ADNOC’s $6.2B giant gas project

U.S. offshore engineering and construction player McDermott has won an engineering, procurement, construction and installation (EPCI) assignment for a gas development project off the coast of the United Arab Emirates (UAE), enabling it to deliver one of the Middle East’s heaviest offshore topsides. The post McDermott clinches over $1 billion EPCI job for ADNOC’s $6.2B …

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Aker Solutions, Microsoft partner to fast-track global CCS, carbon removal pipeline

Norway-based energy services provider Aker Solutions has joined forces with Microsoft to accelerate carbon capture and storage (CCS) and carbon dioxide removal (CDR) projects across the globe, aiming to cut execution risks and help developers move projects toward final investment decisions (FIDs). The post Aker Solutions, Microsoft partner to fast-track global CCS, carbon removal pipeline …

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Equinor, Aker BP and Vår Energi launch multi-year hunt for Norway’s next big oil & gas discoveries

Three of Norway’s biggest oil and gas players – Equinor, Aker BP, and Vår Energi – are joining forces to search for the next batch of major hydrocarbon discoveries on the Norwegian Continental Shelf (NCS), targeting up to 25 high-impact exploration prospects over the next few years. The post Equinor, Aker BP and Vår Energi …

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