Capesize After a slow beginning to the week, the Capesize market experienced a surge on Wednesday with a rise of over $2,500 in a day on its five timecharter routes average. The week closed at $15,180 with +$3,222 week-on-week. Both fronthaul and trans-Atlantic business were particularly active whilst tonnage in the Atlantic tightened. Solid volume…
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in International Shipping News 02/08/2023 US Coast Guard chose DNV as one partner for their one-year merchant marine training programme on autonomous and remote-controlled shipping. Lieutenant Steve Conde, who worked closely with DNV’s ship autonomy team, discusses current developments and gives insights into the collaboration. With a dedicated 18-year tenure in the Coast Guard, Steve…
Nordic Seas and subpolar basins with surface currents (solid curves) and deep currents (dashed curves) that form part of the Atlantic meridional overturning circulation (R. Curry / Woods Hole) PUBLISHED JUL 30, 2023 10:54 PM BY THE CONVERSATION Amid news of lethal heatwaves across the Northern Hemisphere comes the daunting prospect of a climate disaster…
OneWeb, the latest arrival in the low earth orbit (LEO) satcom service sector, has launched its maritime service with the installation of terminals aboard the German research vessel Polarstern. German shipping company Reederei F. Laeisz is Polarstern’s ship manager, and it contracted with third-party integrator Speedcast to install OneWeb services aboard the vessel. The system’s…
President Vladimir Putin said on Tuesday that Russia was considering withdrawing from the Black Sea grain deal because the West had cheated Moscow by implementing none of the promises to get Russian agricultural goods to world markets. The deal allowing Ukraine to resume seaborne grain exports was brokered by the United Nations and Turkey in…
A2B container feedersCourtesy A2B PUBLISHED JUN 13, 2023 12:58 AM BY THE MARITIME EXECUTIVE A Dutch shortsea shipping company has signed on for the use of green methanol as a future fuel. A2B-online, an EU-to-UK logistics firm with its own small fleet, is building two new methanol dual-fuel feeders at a yard in Turkey. A2B…
The LNG shipping market could stand to benefit from a potential increase in demand over the coming summer months, as Europe prepares for another winter of energy supply challenges. In its latest weekly report, shipbroker Intermodal said that “this year, LNG supply will likely exceed demand, so prices will need to decline to levels that…
The European Union embargo on Russian petroleum products took effect on 5 February and is based on the $60 oil price cap introduced on 5 December by the major G7 (Group of Seven) countries. In the first quarter of 2023, China, India and Turkey, in particular, increased their purchases to partially offset the decline in…
PUBLISHED APR 11, 2023 11:36 PM BY VASSILIY VESSELOVSKI, DANIIL MELNYCHENKO AND ALEXANDER KHROMOV The Black Sea region has witnessed a considerable decline in its market volumes, with the ongoing Russian war in Ukraine resulting in a sharp drop in laden volumes by 28.4 percent (almost 690,000 TEU) in 2022. As per Informall BG’s latest…
in Commodity News 30/01/2023 Malaysian palm oil futures climbed on Monday to their highest in nearly three weeks as worries grew that floods could hurt output in the world’s second largest producer. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange gained 68, or 1.74%, to 3,970 ringgit ($937.43)…
