What started as a red-hot container market for Far East to U.S. trades has now spread to other routes, with rates from the Far East to Brazil seeing particularly high spot rates, BIMCO says. On January 24, 2021, the base freight rate for a forty…
In the more than two decades since the Kyoto Protocol was adopted, national policies on climate change have had dangerously and disappointingly little effect on global emissions.Within the current economic system, perhaps the most ambitious…
A plunge in the volume of crude oil stored on ships combined with unexpected cuts from top producer Saudi Arabia have created a glut of vessels available for hire, pressuring the outlook for supertankers this year.Earnings for very large crude…
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped for the fifth session in a row on Thursday, as rates waned for capesize and panamax vessel segments.The Baltic dry index, tracking rates for capesize…
Wallem has signed an agreement with the Ocean Technologies Group to implement its recently launched OCEAN Learning Platform.The OCEAN Learning Platform is designed to deliver blended learning, assessment and competency management solutions to improve knowledge…
New England’s busiest port moves closer to welcoming larger containerships and growing the regional economy with the completion of the second phase of a three-part dredging program last month, nearly one year ahead of schedule.Cashman Dredging and JV partner The Dutra Group began Phase II of the U…
French shipping group CMA CGM said on Wednesday it has reached an agreement with Egypt to operate a future container terminal at the port of Alexandria.Operations at the planned terminal are due to start in 2022, CMA CGM said in a statement.(Reporting by Gus Trompiz Editing by Chris Reese)
The Baltic Exchange's main sea freight index slipped to its lowest in nearly three weeks on Wednesday, dragged by a drop in demand for the larger capesize vessel segment.The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities…
A total of 6.92 million tons of cargo has been transhipped in the seaport of Kiel in 2020, representing only a slight decrease of 1.2 % compared to the previous-year period. In contrast to a decrease of volumes in the Scheerhafen and at the Norwegenkai Terminal…
Many of the largest flag states—including the Marshall Islands, Hong Kong (China), Singapore as well as the Bahamas and Cyprus—continue to perform to an exceptionally high standard, with traditional flags and open registers performing equally well…
Trading house Gunvor's founder Torbjorn Tornqvist has increased his stake in the firm after a bumper profit year as he bought out some leaving partners and expanded the board to bring in a new generation of managers.The company said Tornqvist…
Maritime security risk management firm Dryad Global announced Tuesday it has appointed Teresa Peacock as its first non-executive director.Peacock is currently managing director at maritime staffing and recruitment firm Spinnaker Global and a member of the Maritime UK’s Diversity Taskforce…
Maine Maritime Academy (MMA) announced Tuesday it is partnering with maritime technology company SailPlan to accelerate the development of an intelligent vessel’s navigation platform and shoreside vessel control.The academy said it equip its fleet…
Over 300 leading companies said on Tuesday they would work together to help hundreds of thousands of merchant sailors stuck on ships for many months due to COVID-19 in a crisis that risks creating more dangers at sea.About 90% of world trade is transported by sea…
There is increasing pressure for shipowners to sharpen their environmental performance, driven by an IMO target to halve greenhouse gas emissions from shipping by 2050, regional regulations and market pull from charterers, banks and investors…
