The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a third straight day on Tuesday, pressured by lower demand across larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels,...
https://www.hellenicshippingnews.com/baltic-index-extends-decline-on-weak-demand-for-larger-vessels/
U.S. natural gas futures climbed about 4% on Tuesday on forecasts for the weather to remain hotter-than-normal through early August, especially in Texas. That price increase came despite rising output, forecasts for less demand next week than previously expected and lower than usual amounts of gas...
https://www.hellenicshippingnews.com/us-natgas-prices-climb-4-as-brutal-heatwave-lingers/
Russia’s withdrawal from a critically important wartime deal that allowed the export of Ukrainian grain across the Black Sea has reignited fears about global food security, with analysts describing the initiative’s demise as both an inevitable setback and a blow to markets. Hours before the...
As collaborative efforts to step forward towards Maritime Decarbonisation in India, Wartsila hosted an event “Shaping the Future of Indian Shipping: Wartsila Seminar on Strategies and Innovations for Decarbonisation.“ The seminar was attended by 110 invitees representing Ship owners, managers,...
The government plans to ease the process of composite exploration licences, smoothen mining clearances and relax the rules for captive mining, two people aware of the development said, outlining planned reform measures. States may be allowed to grant composite exploration licences for high-value...
https://www.hellenicshippingnews.com/india-centre-sets-stage-for-mining-reforms/
Statement from Guy Platten, Secretary General of the International Chamber of Shipping: It has been a great pleasure and privilege to work with Kitack Lim over the past eight years. Kitack steered the International Maritime Organization (IMO) successfully through challenging times, calmly and with...
The U.S. Department of Agriculture (USDA) is expected to rate 57% of the nation’s corn crop in a good to excellent condition in its weekly crop progress report, up 2 percentage points from a week ago, according to the average estimate among 11 analysts surveyed. For soybeans, analysts on average...
Oil exports via the Caspian Pipeline Consortium (CPC) will decline in August to 4.7 million tonnes from 5.45 million tonnes in July’s plan amid planned maintenance on the giant Tengiz oilfield, according to three sources familiar with the exports. On a daily basis, CPC Blend oil loadings will fall...
https://www.hellenicshippingnews.com/cpc-blend-oil-exports-set-to-fall-14-in-august-m-m-sources/
Portugal’s largest maritime and logistics Portuguese firm – GRUPO ETE – is reinforcing its position in the logistics sector after expanding across the United Kingdom, Spain and Italy. Through ETE Logística, the company division responsible for global logistics operations, and a solid network of...
Hedge funds have been positioned for a weaker dollar all year and those bets are paying off handsomely, especially against the Mexican peso, Brazilian real and sterling. The latest Commodity Futures Trading Commission data for the week to July 11 show speculators’ held their largest net long...
https://www.hellenicshippingnews.com/funds-cashing-in-on-large-short-dollar-position/