Record high imports of crude oil from Russia in fiscal 2022-23 helped India’s refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed. Access to cheap Russian crude has boosted output and profits...
The 14th session of the IMO’s Intersessional Working Group on GHG Emissions (ISWG-GHG 14) took place from 20 to 24 March. Representing the IAPH delegation were IAPH policy and IMO liaison officer Rhona Macdonald, Bruce Anderson (Starcrest) and Peter Mollema (Port of Rotterdam, chair of the IAPH...
https://www.hellenicshippingnews.com/iaph-imo-consensus-on-revised-ghg-strategy-still-remote/
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities rose for third-straight session on Wednesday, aided by higher rates for bigger vessel segments, largely panamax. The overall index, which factors in rates for capesize, panamax and supramax shipping...
https://www.hellenicshippingnews.com/baltic-index-rises-as-larger-vessels-demand-remains-firm/
Fiscal year 2023 has started. During the past three years, various trade shows and organization events were mostly cancelled due to COVID-19, but as the living with COVID environment has become more common, the number of various events are increasing. Along with the resuming of these activities,...
IMO’s GHG debates have centred on the fuel transition, which is key for the ultimate transition to zero emissions, but absolute emission reductions required this decade can mostly be unlocked with efficiency. The Science Based Targets Initiative announced maritime guidance in November 2022 to guide...
The International Marine Contractors Association (IMCA) welcomes a new environmental sustainability lead, Mary Ntamark. Mary began her career in the oil and gas industry developing, implementing, and managing environmental management programmes on sites across the globe for projects in Angola,...
https://www.hellenicshippingnews.com/imca-appoints-new-environmental-sustainability-lead/
Improper handling of bulk cargo can compromise vessel stability and the structural integrity of the vessel, risking the lives of the crew aboard. Understanding the unique properties of a given cargo, and how to handle it correctly, is critical to ensuring the safety of crew, vessel, and the marine...
The Freightos Baltic Global index fell 23% to $1,492/FEU in March back to a level last seen in May 2020, as rates declined across all the major tradelanes this month. This rate is 94% lower than a year ago, and just 15% higher than 2019 levels. Transpacific rates to both coasts continued to fall in...
https://www.hellenicshippingnews.com/fbx-index-march-2023-market-summary/
We are pleased to bring you a message from Mitsui O.S.K. Lines, Ltd. (MOL) President & CEO Takeshi Hashimoto. As we enter fiscal year 2023, which marks the 139th anniversary of MOL’s founding, I would like to look back on a successful FY2022 and look ahead as we set the stage for long-term success...
Castor Maritime Inc., a diversified global shipping company, announces that on March 23, 2023, we entered into an agreement with a third party for the sale of the M/V Magic Moon, a 2005-built Panamax, at a price of $13.95 million. The conclusion of the sale agreement is subject to the execution of...