VLCC Market Softened Last Week

Clean LR2 LR2 freight levels in the MEG recovered a little this week. The TC1 75kt MEG/Japan index crept up from WS114.44 to WS118.61 by the end of the week, the corresponding TCE returns went from $21,311/day to $22,646/day basis Baltic Description. A voyage west on TC20 90kt MEG/UK-Continent also saw an incremental rise. The …

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How they spent it – Recent trends in shipping M&A

Leading shipping companies are engaging in record levels of M&A activity, driven by macro-economic and geo-political events, increasing decarbonisation regulations and improved financial trading performance Despite disruptions and uncertainties from the Russia-Ukraine war, Israel-Gaza conflict, Red Sea disruptions and more recently changing US tariff policies, the global shipping industry has showcased remarkable resilience. In fact, …

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SHIPPING: Most carriers will not add surcharges or service fees to offset USTR port charges

New port charges from the US Trade Representative (USTR) for Chinese-built and China-based operators are set to take effect on 14 October, and several carriers have announced that they will not implement surcharges or service fees to offset the additional costs. So far, ocean carriers ONE (Ocean Network Express), HMM, CMA CGM, and Maersk have …

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