VLCC Another slight slippage of the rates was seen this week. For the 280,000mt Middle East Gulf to US Gulf (Cape/Cape routing) trip, rates are maintained at WS21.5 level. However, the rate for 270,000mt Middle East Gulf to China eased almost a point to just below WS42 (a roundtrip TCE of...
https://www.hellenicshippingnews.com/tankers-vlcc-tanker-market-slightly-lower-this-week/
Capesize The Capesize market was a mixed bag this week as routes ebbed and flowed giving little clear direction for traders. The market carried through positive sentiment from the prior week, yet was unable to sustain gains on the 5TC by midweek and bounced by close on Friday as the 5TC settled at...
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-a-mixed-bag-this-week/
Japanese maritime shipping company Mitsui O.S.K. Lines will double investment in decarbonization efforts to the order of 400 billion yen ($3.5 billion) over three years compared with previous plans, President Takeshi Hashimoto told Nikkei in an interview. It previously aimed to invest a total of...
The biggest export out of Southern California these days is air. And it is suffocating the supply chain. Hundreds of thousands of empty containers are filling marine terminals and truck yards across the region and tying up scarce trucking equipment as ocean carriers scramble to return empty boxes...
China’s strict COVID-19 quarantines are making it difficult for ships to change crews, contributing to lags in the shipping process that could worsen the supply chain crisis. The country has a zero-Covid policy and is imposing ever more stringent containment measures as it tackles its latest wave of outbreaks. On Halloween night, for example, 30,000 …
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Malaysian Bulk Carriers Bhd (Maybulk) reported a net profit of RM113.58 million for the third quarter ended Sept 30, 2021, compared with a net loss of RM5.95 million a year prior, on higher charter rates, and lower operating expenses from a smaller fleet size and vessel disposal. The dry bulk...
This BIMCO COVID 19 weekly report for the week ending 26 November covers Singapore, the UK P&I Club and ProInde and the latest from the International Maritime Organization (IMO). Every week, BIMCO summarises measures imposed by governments for sea transport, including for crew change, as well as...
https://www.hellenicshippingnews.com/bimco-covid-19-weekly-report-dated-26-november-2021/
Drewry’s composite World Container index remained steady at $9,186.39 per 40ft container this week. Our detailed assessment for Thursday, 25 November 2021 • The composite index remained stable this week, but remains 224% higher than a year ago. • The average composite index of the WCI, assessed by...
MISC Berhad (MISC or the Group) is pleased to announce that its member companies walked tall with five awards in hand, namely four “Gold Merit” awards and one “Gold Class 1” award, a record achievement for the Group at the 39th Malaysian Society for Occupational Safety and Health (MSOSH) Awards...
The Danish Centre for Environment and Energy (DCE) at Aarhus University has estimated that air pollution from shipping causes about 50,000 premature deaths in Europe every year. However, the new global sulphur cap from 2020 has reduced the mortality and morbidity related to air pollution from...