With 18 days to go until the the phase-in of the International Maritime Organization’s Carbon Intensity Indicator (CII) regulation, the stinging criticism it is attracting from across the shipping sector has strong echoes of the weeks running up to IMO2020, the global sulphur cap. The CII, along...
https://splash247.com/cii-criticism-mounts-across-all-shipping-sectors/
At the end of November, we suggested that only a strong December can prevent a rotten year for the Baltic Dry Index. The freight market gods must have listened, as the BDI has put on a few points in December to date, rising from an average of 1,299 for November to 1,353 for the first …
https://splash247.com/the-link-between-the-strength-of-the-us-dollar-and-the-baltic-dry-index/
Three new rules came into effect this month designed to put pressure on Russian oil exports – the main upshot to date has been to create a tanker logjam around the Bosporus and the Dardanelles. The $60 Russian oil price cap and the European ban on Russian seaborne crude kicked in on December 5, but...
It’s that time of the year where we mull new year’s resolutions. If I were to be so bold to make a couple for the shipping industry as a whole, I’d start and finish with the environment. Forget the International Maritime Organization (IMO), shipping players in 2023 should get on with their own...
https://splash247.com/my-new-years-resolutions-for-shipping/
The world energy seaborne map changed dramatically following Russia’s decision to invade Ukraine on February 24. Rates for tankers and LNG carriers soared as the West sought alternate supplies and Russia ramped commodity sales to more distant clients in Asia. Grain shipments out of the Black Sea...
Oil prices continue to trend downwards. Brent ended November at $86.97 and then lost ten bucks in a week, before recovering 67 cents to land at $76.82 on December 9. WTI ended November at $80.55, rose to $81.22 on December 1 but then slid without stopping to $71.58 on December 9. This was the...
https://splash247.com/a-very-merry-christmas-for-product-tanker-owners/