Hapag-Lloyd sees no immediate Suez passage even if ceasefire reached now
German shipping company Hapag-Lloyd does not anticipate the shipping industry to resume sailing through the Suez Canal anytime soon, even if a ceasefire between Hamas and Israel was reached now, a...
View ArticleEU proposes to sanction Sovcomflot to limit Russia’s revenue
The European Union is proposing to sanction Russia’s oil-shipping giant Sovcomflot PJSC in a move to limit the Kremlin’s ability to finance its war against Ukraine, according to a document seen by...
View ArticleBaltic index inches up as panamax gains offset capesize losses
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, edged higher on Wednesday as gains in the panamax vessel segment countered declines in the...
View ArticleNewbuilding prices climb 3% to highest level in 16 years
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020 they are up 53%. During the same period, the order book...
View ArticleFrontline CEO sees ships avoiding red sea even with a ceasefire
It’s “naive” to assume merchant vessels will start sailing through the Red Sea again if there’s an agreement to end the war between Israel and Hamas, the boss of a major oil-tanker company said...
View ArticleHouthis say they targeted Greek-owned ship damaged in Red Sea
Iran-allied Houthi militants on Wednesday took responsibility for small watercraft and missile attacks that left a Greek-owned cargo ship taking on water and in need of rescue near Yemen’s Red Sea...
View ArticleEurope’s gas surplus narrows as LNG redirected to Asia
Europe’s gas storage has got off to an unusually slow start to the refill season, narrowing the record seasonal surplus inherited from last winter and boosting prices back well above the long-term...
View ArticleIron ore struggles for direction as China data counters soft demand outlook
Prices of iron ore futures struggled for direction on Wednesday as support from improved economic data in top consumer China partially offset lingering pressure from tepid near-term demand, high...
View ArticleBaltic index hits near 1-month peak on strong vessels demand
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, hit a near one-month high on Thursday, supported by higher rates across all vessel segments....
View ArticlePort Hedland Iron Ore Exports Up 8%
Pilbara Ports delivered a total monthly throughput of 68.8 million tonnes (Mt) for May 2024. This throughput was a 10 per cent increase compared to May 2023. The Port of Port Hedland achieved a...
View ArticleRussian client unilaterally scratches off big order to Samsung Ηeavy Ιndustries
Samsung Heavy Industries has been hit by sanctions against Russia following the Russia-Ukraine war. The company’s order worth 4.85 trillion won (approximately $3.7 billion) from a Russian client...
View ArticleIron ore rebounds after China’s latest move to spur property sector
Iron ore futures prices ticked up on Thursday, helped by Beijing’s latest move to revive its struggling property sector, although lacklustre near-term demand and persistently high portside stocks in...
View ArticleSeanergy: Delivery of one cape; new TCAs with Costamare
Seanergy Maritime Holdings announced the delivery of a previously-announced Capesize vessel acquisition, the M/V Iconship, and the simultaneous commencement of its time charter (“T/C”) employment. The...
View ArticleHavila Shipping ASA: Contracts with Equinor Energy AS for the PSV vessels
The company has entered into contracts with Equinor Energy AS for the PSV vessels Havila Clipper, Havila Fanø and Havila Herøy. Each contract is for a firm period of twelve months, with six optional...
View ArticleZero Emission Port Alliance onboards leading organisations in container port...
The Zero Emission Port Alliance (ZEPA) announces the onboarding of 11 organizations from the container port industry. Among the members are APM Terminals, CATL, DP World, Kempower, Patrick Terminals,...
View ArticleSingapore marine bunker sales rebound after sliding four months
Marine bunker fuel sales in Singapore rebounded in May after logging monthly declines for four consecutive months, data showed on Friday. Bunker sales for May totalled 4.83 million metric tons at the...
View ArticleEuronext wheat slips to new one-month low
European wheat futures fell to a new one-month low as the start of harvesting in the northern hemisphere took attention away from weather damage in Russia, while export sentiment remained downbeat...
View ArticleYemen’s Houthis say they attacked two ships and American destroyer
Yemen’s Houthis said on Sunday that they had attacked two civilian ships along with an American destroyer in the Red Sea and Arabian Sea, their latest effort to disrupt shipping in what they say is...
View ArticleSubsea7 awarded a contract for the Bittern field in the UK North Sea
Subsea7 announced the award of a sizeable1 contract by Dana Petroleum (E&P) Limited, for the Bittern field development, located approximately 190km east of Aberdeen in the UK Central North Sea, at...
View ArticleUS oil refining capacity rises for second year in a row
U.S. crude oil refining capacity rose 1.5% to 18.38 million barrels per day (bpd) this year, a government report showed on Friday as a major new expansion in Texas boosted capacity. The Energy...
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