The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dipped on Friday and posted a weekly loss on declining rates for panamax and supramax vessels. The main index, which monitors rates for capesize, panamax and supramax shipping vessels, lost 1 point, or 0.1%, to 1,340, to register …
Baltic Dry Index Logs Weekly Loss On Weaker Panamax, Supramax Rates Read More »
CM Technologies (CMT) is advising shipowners and operators to urgently review their fuel and lubricating oil sampling practices following the entry into force of revised IMO guidelines. Recent amendments to MARPOL Annex VI and SOLAS Chapter II-2 include a 50% increase in the required sample volume and stricter expectations around equipment, handling, and record-keeping. The …
MARPOL Update Raises Bar For Sampling But Non-Compliance Risks Increase Read More »
Today’s intense macro-economic and geopolitical uncertainty may soften demand for seaborne dry bulk commodity imports but may also mute dry bulk ship orders over the next quarters. It has been just over a month since tariffs were announced by President Trump, and despite recent positive developments with China and the UK, it is anyone’s guess …
The Hamburg-based Vega-Reederei, a family-owned shipping company founded in 1919, has officially taken delivery of the first vessel of its new series of next-generation coasters: the 3,800 dwt MV VEGA PETRA. The ship was delivered on May 21st by Yahua Shipyard in China and marks the beginning of a steady monthly delivery program. Parallel vessels …
Russia’s leading tanker group Sovcomflot FLOT plunged to a net loss of $393 million in the first quarter, blaming the slump on new Western sanctions that have led to operational problems, lower revenues and some vessels sitting idle. Sovcomflot’s financial pressures show the impact of sanctions on Moscow over the war in Ukraine at a …
Sanctions send Russian tanker group Sovcomflot to $393 million net loss Read More »
Asia’s very low sulphur fuel oil (VLSFO) market eased week-on-week, while high sulphur fuel oil (HSFO) market clung to its recent strength. Singapore’s VLSFO cash differential inched further down on Friday, closer to a premium of $10 a metric ton, while bunker premiums retreated in lukewarm buying. Cracks also logged weekly declines, based on LSEG …
Platts, part of S&P Global Commodity Insights, has included the vessel SA Horizon as an additional loading point in its Platts Singapore Market on Close assessment process for cargo and ex-wharf bunkers for marine fuel 0.5% and 380 CST HSFO from May 22. SA Horizon (IMO 9233272) is operated by Southern Ace Marine Sdn. Bhd. …
RightShip’s mission is to enable our customers to achieve Zero Harm in the global maritime value chain – zero harm to vessels, to people, and to environment – through unique data and actionable insights. We do this by constantly strengthening our market and product relevance and augmenting our data and technology capabilities. As the need …
RightShip Seeks New Competencies to Remain Leaders in Maritime AI Read More »
Frontline plc Friday reported unaudited results for the three months ended March 31, 2025: Highlights Profit of $33.3 million, or $0.15 per share for the first quarter of 2025. Adjusted profit of $40.4 million, or $0.18 per share for the first quarter of 2025. Declared a cash dividend of $0.18 per share for the first …
Frontline Reports First Quarter Profit of $33.3 Million Read More »
Mitsui O.S.K. Lines, Ltd. announced that it has decided to order a new LNG-fueled very large crude carrier (VLCC) to sail under a long-term time charter contract with Idemitsu Tanker Co., Ltd. (President: Tomio Inagaki; Head Office: Chiyoda-ku, Tokyo). It will be the first dual-fuel VLCC to be chartered to a Japanese oil company, and …
