A decisive moment for global shipping regulation unfolded last week as the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC) concluded its 83rd session, which culminated in the approval of draft amendments establishing the ‘IMO Net-Zero Framework’. This global mechanism will combine mandatory greenhouse gas (GHG) limits with carbon pricing for the maritime sector …
The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, rose on Friday as demand increased across all vessel segments. The main index, which tracks rates for capesize, panamax and supramax shipping vessels, gained 20 points, or 1.6%, to 1,261. But the index was down 1% for the …
Baltic Index Rises On Strong Rates Across Vessels Read More »
Golar LNG Limited (“Golar”) is pleased to announce that FLNG Gimi completed the offload of its first full LNG cargo to the LNG carrier British Sponsor. This introduces Mauritania and Senegal to the international gas market and triggers the final pre-Commercial Operations Date milestone bonus payment to Golar under the terms of the commercial reset …
The Marine Environment Protection Committee (MEPC) met for its 83rd session in person at IMO Headquarters in London (with remote participation enabled) from 7 to 11 April 2025. The meeting was chaired by Dr. Harry Conway (Liberia), with Mr. Hanqiang Tan (Singapore) as Vice-Chair. MEPC 83 highlights: Tackling climate change – Mid-term measures to reduce …
IMO: Outcomes of the Marine Environment Protection Committee (MEPC 83) Read More »
Latest data reveals global ocean container shipping emitted all-time high carbon emissions in 2024, driven largely by the impact of conflict in the Red Sea. The data, released by Xeneta and Marine Benchmark this week, is a timely reminder that, while the geo-political climate is heating up due to the US tariff announcements, we must …
U.S. importers are being notified of an increase in canceled sailings by freight ships out of China as ocean carriers try to balance the pullback in orders resulting from President Trump’s tariffs and the escalation of tensions in the trade war. A total of 80 blank, or canceled, sailings out of China have been recorded …
Trade war fallout: Cancellations of Chinese freight ships begin as bookings plummet Read More »
Fortescue has signed an agreement with Bocimar, part of CMB.TECH, to charter a new ammonia-powered vessel. This emphasises the commitment of both companies to decarbonise the shipping industry. The 210,000 dwt Newcastlemax vessel is expected to be delivered to Fortescue by the end of next year and will play a vital role taking iron ore …
Fortescue and CMB.TECH sign agreement for ammonia-powered ore carrier Read More »
The partnership aims to advance liquefied hydrogen carrier technology, promoting sustainable and zero-emission maritime transport. Lloyd’s Register (LR) has signed an agreement with the Hydrogen Ship Technology Center at Pusan National University (PNU) in Korea, forming an international partnership aimed at advancing liquefied hydrogen carrier technology and cryogenic engineering. The Memorandum of Understanding (MoU), signed …
Sustainable shipping and successes in diversity took centre stage at the inaugural WISTA India ExCo Conference in Mumbai, which coincided with the first WISTA International Mid-Term Meeting to take place in India. With WISTA International membership exceeding 6,000 this month, the Executive Committee (ExCo) met over two days to discuss topics that included the professional …
WISTA India Conference shines spotlight on sustainable shipping and diversity success Read More »
Onshore fuel oil stockpiles at key trading hub Singapore rose for a second straight week, supported by strong inflows of Middle Eastern supply, data showed on Thursday. Residual fuel inventories (STKRS-SIN) were at 22.9 million barrels (about 3.6 million metric tons) in the week to April 16, based on Enterprise Singapore data. The inventories were …
Singapore fuel oil stockpiles climb on strong Mideast inflows Read More »
