Hellenic Shipping News Worldwide, Online Daily Newspaper on Hellenic and International Shipping
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The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped its three-session losing streak on Friday, supported by strong rates across the capesize and panamax vessel segments. The index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 14 points to 990 points. The...
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The “Xin Shanghai,” a vessel operated by China COSCO Shipping Corporation Limited, arrived in Shanghai’s Yangshan Port at around 3:30 p.m. on Wednesday after a 23-day journey from Peru’s Chancay Port, becoming the first vessel to arrive in Shanghai from Chancay after the Peruvian port officially opened in November. The journey also marked the opening...
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Performance in tankers and dry bulk is likely to remain sound in 2025, with tankers making above-average profits, supported by high tonne-mile demand, while oversupply and easing of disruptions in the Red Sea will put pressure on global container shipping, Fitch Ratings says. We expect demand to grow in oil tankers and dry bulk in...
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Drewry’s World Container Index increased 8% to $3,803 per 40ft container this week. Our detailed assessment for Thursday, 19 December 2024 The Drewry WCI composite index increased 8% to $3,803 per feu, which is 63% below the previous pandemic peak of $10,377 in September 2021 but 168% more than the average $1,420 in 2019 (pre-pandemic)....
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Fabrum, a New Zealand company leading the world in zero-emission transition technologies, has collaborated on the design and build of a zero-emission hydrogen-powered boat H2Ocean with King Watercraft, a developer of sophisticated New Zealand made rigid inflatable boats. The H2Ocean hydrogen-powered rigid inflatable boat (RIB), a zero-emissions solution suitable for tourism, commercial and leisure activities,...
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This week, the United States Department of the Treasury is imposing sanctions on four entities and three vessels involved in the trade of Iranian petroleum and petrochemicals, which generate billions of dollars’ worth of revenue for the Iranian regime. This revenue supports Iran’s nuclear program, its development and proliferation of provocative ballistic missiles, and financing...
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Asia fuel oil markets were largely stable on Friday in thin trade, while a key spread between two benchmark grades narrowed from last week. The premium of very low sulphur fuel oil (VLSFO) over 380-cst high sulphur fuel oil (HSFO), commonly known as the hi-5 FO05-380SGMc1, closed below $90 a metric ton, narrowing about 7%,...
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North America Bunker fuel availability in Houston remains tight across all grades, despite low demand in recent days, according to a source. Suppliers generally require lead times of 7-9 days for VLSFO and LSMGO deliveries, while HSFO could take more than nine days. A source noted that demand could pick up early next week as...
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Danish Shipping strongly supports IMO guidelines on biofouling management to protect vulnerable marine ecosystems and the biodiversity of the seas. Biofouling is a major factor in the spread of invasive species. Tiny algae and barnacles stuck on the hulls of ships can spread invasive species over vast distances and cause problems in marine ecosystems on...
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“Many of our sustainable transportation programs and initiatives tend to become mode-centric, but it is critically important to optimize the overall sustainable freight transportation across modes from origin to destination, which requires a system of systems focus.” That was the message to U.S. transportation industry and Government leaders from ABS Chairman and CEO Christopher J....
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Vessel Performance Solutions ApS, a subsidiary of Ascenz Marorka, the GTT Group Smart Shipping arm, announces that Sallaum Lines, a trusted leader in reliable and high-quality Ro-Ro (Roll-on/Roll-off) shipping service, has selected the VESPER performance management platform to optimize the operational efficiency and environmental compliance of its eight-vessel fleet. VESPER, Vessel Performance Solutions’ advanced performance...
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As the holiday season approaches, seafarers around the globe face the challenge of being far from home while working tirelessly to ensure goods and passengers arrive safely. This separation often leads to heightened stress and anxiety, particularly during the holidays. Shopping, a proven stress reliever and a vital connection to normality, remains inaccessible to many...
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ZEBOX will participate in CES 2025 with a delegation of 10 startups exhibiting at Eureka Park, the innovation hub of the event. Founded in 2018 by Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, ZEBOX is an international innovation accelerator backed by 14 major corporations from the maritime, logistics, and media industries. This...
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Responding to the sinking of two Russian oil tankers in the Kerch Strait on December 15th, resulting in a reported spill of around 4,000 tonnes of mazut, a low-grade heavy fuel oil, Dr Sian Prior, Lead Advisor to the Clean Arctic Alliance said: “In light of this week’s oil spills following oil tanker accidents in...
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The World Shipping Council (WSC) Board of Directors has elected Soren Toft, CEO of MSC Mediterranean Shipping Company, as the new Chair of the World Shipping Council Board. Randy Chen, Vice Chairman of Wan Hai Lines, has been elected Vice Chair. Soren Toft and Randy Chen will serve a two-year term, effective immediately. The new...
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Castor Maritime Inc., a diversified global shipping and energy company, announces that on December 4, 2024, it entered, through a wholly-owned subsidiary, into an agreement with an unaffiliated third party for the sale of the M/V Gabriela A, a 2005-built 2,700 TEU containership vessel, for a price of $19.3 million. The vessel is expected to...
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AtoB@C Shipping is continuing its fleet renewal with the delivery of the Maximar on December 20 in Goa, India. This marks the fifth new plug-in hybrid vessel to join the company’s fleet since the delivery of Electramar in December 2023. AtoB@C Shipping’s newbuilding program is approaching its halfway point as the sixth vessel, Terramar, was...
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Onshore fuel oil storage volumes in Singapore spiked in the latest week, as high supplies within the region of Asia spurred a build that was more than expected, official data showed on Thursday. Residue inventories in the week of Dec. 12-18 were at 28.97 million barrels (4.56 million tons), hitting the highest weekly volume seen...
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Domestic shipping companies are expected to continue to see a declining trend in revenue growth with an on-year dip of 8-10 per cent in fiscal 2026, stated a report by CRISIL Ratings. This, it added, will be on account of softening of charter rates — for crude oil and petroleum products amid stagnant demand, and...
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Thomas Kazakos, the Director General of the Cyprus Shipping Chamber for the past three decades, has been appointed to the prestigious position of Secretary General of the International Chamber of Shipping. Kazakos takes the helm of the London-based ICS from April next year, replacing Guy Platten, who is stepping down in June at the international...