The Middle East continues to be a vital part of the global oil market, both in terms of production from nations in the region, and a bottleneck in global seaborne oil supply chains. In December OPEC+ announced that it would trim production further, reducing the amount of seaborne exports of crude...
Splash Extra January 2024
African flags and the Russian war machine
In close to 24 years of covering this industry, a constant head-scratcher has been the outsourcing of national shipping registries, an oft corrupt practice that quite literally lets unpleasant folks get away with murder. Over the years, the likes of Cambodia and landlocked Mongolia have made...
https://splash247.com/african-flags-and-the-russian-war-machine/
Landlocked shipping registers make a comeback
The Indian backers of the world’s newest shipping flag are in discussions to create another registry, with both nations sharing the geographical distinction of being landlocked. The Eswatini Maritime Affairs and International Ship Registry was formed as a private company in Singapore three months...
https://splash247.com/landlocked-shipping-registers-make-a-comeback/
Are seafarers ready to handle tomorrow’s fuels?
As shipowners, managers, and engine suppliers turn more and more to new fuels, the need for adequate crew training to work on such vessels varies very widely across different fuel types. Experts tell Splash Extra that very few seafarers have undertaken training in the handling of alternative fuels...
https://splash247.com/are-seafarers-ready-to-handle-tomorrows-fuels/
January 2024 Review
Shipping came to terms this month with the fact that the Red Sea exodus is here to stay for a considerable time. Reacting to Israel’s war in Gaza, the Houthis of Yemen – backed by Iranian intelligence and hardware – have targeted around 40 merchant ships in the last three months with drone and...
Financial salve for logistical headaches saves Q1 for containers
UNCTAD said on January 26 that Suez Canal transits were down 39% in the two months to January 19 and that overall freight tonnage shipped via Suez was down 45%. Container shipments through the canal were down 82% in the week to January 19 compared to four weeks earlier. THE Alliance announced on...
https://splash247.com/financial-salve-for-logistical-headaches-saves-q1-for-containers/
A typical January for dry bulk
The situation in the Middle East has affected bulker operations with shipbroker Braemar reporting that about 60 fewer capesize bulkers sailed from the Atlantic into the Indian Ocean via Suez in the four weeks to January 14 compared to the previous four weeks, while 60 capesizes sailed via the Cape...
Tanker sales tank
Year-on-year bulker activity increased this January, with a total of 47 bulkers sold so far, compared to 42 in January 2023. Values across all bulker sectors rose. “Spot rates are at historical highs for this period,” pointed out Rebecca Galanopoulos Jones, a senior content analyst at VesselsValue....