The Baltic Exchange's main sea freight index marked its largest single-day percentage rise on Thursday, as capesize vessel segment rates jumped 50% on strong iron ore demand.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize…
Norwegian shipping company Wallenius Wilhelmsen Ocean AS pleaded guilty to charges of criminal cartel conduct in Australia’s Federal Court on Thursday, following an investigation by the country’s competition regulator.The charges relate to the transportation of vehicles…
Ship fuelling activity in Fujairah in the United Arab Emirates, a bunkering and fuel storage hub in the Middle East, fell in May as declining demand was made worse by slowing global trade because of the coronavirus pandemic, four trade sources said…
The U.S. Chamber of Commerce on Thursday underscored the importance of functional U.S.-China ties and urged Beijing to step up its purchases of U.S. goods and services as agreed under a Phase 1 trade deal despite delays caused by the coronavirus…
The Trump administration will push for a broad reset of “outdated tariff determinations” at the World Trade Organization to fix what it sees as years of unfair treatment of the United States, a top trade official told U.S. lawmakers on Wednesday…
The Baltic Exchange's main sea freight index recorded its biggest ever daily percentage jump on Wednesday, propelled by surging capesize rates due to a spike in iron-ore shipments.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize…
A.P. Moller-Maersk , the world's top container shipping firm, said on Wednesday that market demand was developing 'more favorable than originally expected' in the second quarter, sending its shares up 7%.The coronavirus crisis hit the container…
Canadian grain exporters are boosting sales in a slumping global economy, as demand for commodities like oil weakens and frees up railway space.Brisk crop movement in a country that relies heavily on rail is a bright spot during pandemic lockdowns…
Oceaneering International launched a new business aiming to eliminate waste and increase transparency within the bulk commodity cargo logistics industry, the Houston-based company announced Wednesday.OceanSMART Cargo Logistics and Maritime Technology will be led by Managing Director Bryan Phillips…
Total Lubmarine has extended the global reach of its technical support services with the opening of a new Diagomar Plus Laboratory in Chicago, Ill.The new lab opening means the marine lubricant specialist now has five centers around the world – with Chicago joining Ertvelde (Belgium)…
Offshore wind currently represents just a small piece of the world’s energy supply. But that’s changing faster than ever before as new and existing players look to tap the huge resource potential—and market opportunities—being unlocked by shrinking costs and technological advances…
Djibouti announced at the United Nations Monday its readiness to facilitate crew change operations for any ships passing through the Bab el Mandeb strait, with the necessary support provided by the Djibouti Ports and Free Zones Authority (DPFZA)…
NOIA President Erik Milito issued the following statement after New Jersey Governor Phil Murphy announced the creation of the nation's first purpose-built marshalling and manufacturing port dedicated to the offshore wind industry:'New Jersey is making a smart move by betting on offshore wind…
Waterways Council, Inc. (WCI) is the national public policy organization that advocates for a modern, efficient inland waterways system. Abiding by our mission has meant success over our 17-year history. In 2020, WCI’s top priority is to conform…
Heading into 2020 the cruise industry was booming. The number of passengers who went on cruises in 2019 was at an all time high, a trend mirrored by the exponential fleet growth since the 1950s. However, COVID-19 caused an industry wide shut down…
