China’s H1 crude imports from top supplier Russia up 5% on year
China’s crude oil imports from top supplier Russia fell 20% in June year-on-year, bringing the total for the first half of 2024 up 5%, official data showed on Saturday, as refiners, pressured by...
View ArticleOn the road to zero-emission ocean transport: Lomarlabs signs with CargoKite
Lomar’s corporate venture lab, lomarlabs, has signed a collaboration agreement with maritime deep-tech start-up CargoKite to develop a new ship class of micro ships using large kite systems as the...
View ArticleUkraine warns ships of scrambled GPS navigation in Black Sea
Ukraine’s seaports authority warned shipowners not to rely on a key navigation tool, as satellite communication systems are increasingly being disrupted in the Black Sea. To prevent accidents, masters...
View ArticleMOL to invest in UK startup Carnot
Mitsui O.S.K. Lines announced its intent to invest in Carnot, a startup company that develops technology for highly efficient engines using heat-resistant materials. This project has been led by MOL...
View ArticleNORDEN to acquire Norlat Shipping to further grow projects and parcelling...
NORDEN has entered into an agreement to acquire Norwegian dry bulk operator Norlat Shipping, which specialises in the shipment of forest products and other bulk commodities, with main trading routes...
View ArticleIron ore edges lower as investors digest mixed signals from China
Prices of iron ore futures edged lower on Monday as investors and traders assessed mixed market signals from top consumer China following the end of its widely watched third plenum. The most-traded...
View ArticleIndonesia seeks Russian oil for the first time in years, sources say
Indonesian refiner Pertamina has added Russian oil grades to its tender lists to buy September crude, three traders said on Monday. Pertamina hasn’t purchased Russian oil for years, having taken a...
View ArticleGreek shipowner and ex-ICS chairman Spyros Polemis dies
Spyros M. Polemis, a pillar of Greek shipping and a past chairman of the International Chamber of Shipping (ICS), has passed away. Born in 1937 into a family with centuries of maritime tradition,...
View ArticleTrafigura Group takes full ownership of High Heat Tankers Pte
The Trafigura Group has completed the acquisition of Gearbulk Holding AG’s 50 percent share in joint venture company High Heat Tankers Pte Ltd (HHT) for an undisclosed sum. In addition, the Group has...
View ArticleIran’s Revolutionary Guards intercepted UAE-managed tanker, IRGC says
Iran’s Islamic Revolutionary Guard Corps has intercepted a Togo-flagged, UAE-managed products tanker carrying 1,500 tons of marine gas oil, the IRGC and British security firm Ambrey said on Monday....
View ArticleBaltic index drops to over one-month low on lower capesize rates
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, slipped to its lowest level in more than a month on Tuesday as rates for the capesize vessel...
View ArticleIntermodal Weekly Market Report [W29]
Last week saw the release of Chinese import and export data for the first half of the year. According to the National Bureau of Statistics, there was notable expansion in key commodities such as coal,...
View ArticleIron ore hits three-month low on bleak China demand outlook
Iron ore futures fell to their lowest in more than three months on Tuesday, as a lack of stimulus from top consumer China’s third plenum fanned prospects of bleak demand. The most-traded September...
View ArticleHouthi threat to red sea shipping is growing, UN envoy to Yemen says
Recent developments in the Red Sea and surrounding waterways suggest that the threat to international shipping from Yemen’s Houthis is growing, U.N. Special Envoy to Yemen Hans Grundberg told the U.N....
View ArticleSeaLead announces new leadership
SeaLead, a rapidly expanding global shipping line, announced a series of strategic appointments at a critical juncture in its growth trajectory. Having achieved its operational and financial goals,...
View ArticleSFL – Announcement of public offering of common shares
SFL Corporation announced that it intends to offer, issue and sell to the public 8,000,000 of the Company’s common shares, par value $0.01 per share, through an underwritten public offering. The net...
View ArticleBaltic index slips for fourth straight day as capesize rates dip
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was down on Wednesday for the fourth straight session, tracking a fall in rates for the large...
View ArticlePMA exceeds expectations in flag registry and Reinforce its fleet growth...
The renewal of the Panama merchant fleet is one of the quality objectives of the Panama Maritime Authority (PMA), which is why the entry of vessels under 15 years of age to the Panama Ship Registry is...
View ArticleDalian iron ore extends falls on weakening steel market, demand outlook
Dalian iron ore futures prices fell for the fourth consecutive session on Wednesday, weighed down by a weakening steel market and lingering concerns about demand in top consumer China. The most-traded...
View ArticleContainer ship fleet expands by 11%, fastest growth in 15 years
Since the beginning of the year, the capacity of the container ship fleet has increased by 1.6m TEU. Compared to one year ago, the capacity has risen 11% to 29.5m TEU, the fastest fleet growth in 15...
View Article