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, rose on Friday to log its best weekly gain since early March, buoyed by stronger panamax vessel rates. The main index, which monitors rates for capesize, panamax and supramax shipping vessels, was up 7 points, or 0.4%, at...
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This week’s Market Monitor highlights Capesize freight market trends across the C3, C5, and C17 routes, as the Baltic Dry Index (BDI) gains momentum, driven primarily by the strong performance of the Capesize segment. A key indicator of current market sentiment appears to be the slight tightening in the ballaster count in both the North...
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Today’s global economic landscape is defined by an unprecedented level of volatility and uncertainty, a sentiment echoed by leading chief economists in the World Economic Forum’s (WEF) latest Chief Economists Outlook report. Far from a fleeting disruption, the prevailing view among 79% of surveyed economists is that current developments signal a “long-term structural shift” in...
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Container shipping rates continued their climb this week, fueled by the temporary tariff pause between the U.S. and China, but there are signs that demand underpinning the surge is moderating, financial analysts and maritime consultants said. Ocean vessels transport more than 80% of goods traded globally. Hulking container vessels operated by companies like MSC and...
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Data highlights Market average spot rates – 5 June 2025: Far East to US West Coast: USD 5082 per FEU (40ft container) Far East to US East Coast: USD 6160 per FEU Far East to North Europe: USD 2352 per FEU Far East to Mediterranean: USD 3982 per FEU North Europe to US East Coast: USD 2129 per FEU Market mid-high spot rates – 5 June 2025: Far East...
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For many years, World Container Index has been the go-to, independent, global reference for index-linked contracts. If your organisation is considering index-linked contracts or requires regional visibility/coverage beyond the eight trade lanes provided below, contact our ocean freight cost benchmarking team. Drewry’s World Container Index increased 41% to $3,527 per 40ft container this week. Our...
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Margins for high sulphur fuel oil (HSFO) extended declines for a second consecutive week in Asia, while very low sulphur fuel oil (VLSFO) was down for a third week, data showed on Friday. Prompt-month 380-cst HSFO/Brent crack (FO380BRTCKMc1) closed at a discount of 9 cents a barrel, versus premiums of above $2 in the previous...
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Lloyd’s Register (LR), HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and Hyundai Heavy Industries (HHI) have signed a Memorandum of Understanding (MoU) to jointly develop a high-efficiency hybrid propulsion system integrated with Solid Oxide Fuel Cell (SOFC) technology for 174,000 cubic metre LNG carriers. The agreement, signed at Norshipping 2025, establishes the framework for...
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Achilles, a global leader in supply chain risk and performance management, has hosted the first meeting of its Business Advisory Group, bringing together maritime leaders during Nor-Shipping 2025. Representatives from Odfjell, Bernard Schulte Shipmanagement, BW LPG, Neptune Lines, SeaSourcing (Anglo-Eastern and Seaspan Corporation) and Stolt met in Oslo to affirm their commitment to collaboration on...
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North America Bunker demand in Houston remains sluggish across all fuel grades, with spot premiums being low this week. In the past 24 hours, 75 vessels have arrived, and 134 ships are scheduled to arrive over the next 30 days. VLSFO and LSMGO are available at the port directly via pipe for prompt delivery with...
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IMO regulations to prevent pollution from garbage must be implemented effectively. The greatest danger to the ocean and marine life comes from plastic, which can float for years and be mistaken for food. A new e-learning course from IMO aims to improve awareness and enhance global implementation of the garbage regulations, including addressing marine plastic...
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RINA, the inspection, certification, ship classification and consulting engineering company, has announced at Nor-Shipping the Approval in Principle (AiP) of a new Ultramax bulker design developed by SDARI (Shanghai Merchant Ship Design & Research Institute) in collaboration with Almi Marine Management S.A.. This milestone was achieved through a Joint Development Project (JDP) between RINA, Almi...
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Pacific International Lines (PIL) marked a significant milestone with the naming ceremony of its latest 8,200 TEU LNG dual-fuel container vessel, Kota Ocean, at the PSA Terminal in Singapore. The event, held in conjunction with Singapore’s 60th anniversary of nation-building, underscores PIL’s commitment to sustainability, efficiency and innovation in the maritime industry. The vessel was...
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As world leaders prepare for the third UN Ocean Conference (UNOC3), beginning Monday, 9th of June, in Nice, France, marine conservation experts warn that ocean health has continued to deteriorate across key indicators since the last conference in 2022, despite international commitments to protect marine ecosystems. The conference represents a critical benchmark for assessing whether...
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Lloyd’s Register (LR), HD Hyundai Mipo Dockyard Co., Ltd (HMD), and the Liberian International Ship & Corporate Registry (LISCR) have signed an Approval in Principle (AiP) to develop a 50,000 dwt Medium Range (MR) tanker featuring forward accommodation design. The AiP was formally presented during Nor-Shipping 2025, held at NOVA Spektrum in Lillestrøm, Norway. This...
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BIMCO, the world’s largest shipping association, has initiated the development of a standard industry clause with the aim to address contractual uncertainties arising from the United States Trade Representative’s (USTR) Notice of Actions to impose fees on Chinese-related ships calling US ports. The USTR has announced actions to impose fees on ships calling at US...
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Mitsui O.S.K. Lines, Ltd. (MOL) and Samsung Heavy Industries Co., Ltd (SHI) have jointly acquired Approval in Principle (AiP) from the Lloyd’s Register for the design of a 174,000 LNG Carrier equipped with Solid Oxide Fuel Cell (SOFC) technology. The 174,000 LNG carrier will be equipped with a 300kW SOFC, supplied by Bloom Energy, to...
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Onshore fuel oil stockpiles at key trading hub Singapore rose for a third consecutive week, with imports edging higher, data showed on Thursday. Residual fuel inventories were at 22.58 million barrels (about 3.56 million metric tons) in the week to June 4, up 1.1% week-on-week and logging six-week highs, data from Enterprise Singapore showed. Fuel...
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Ecospray, a company specialized in integrated solutions for the sustainable conversion of marine and land industries, has brought its amine-based Carbon Capture solution for the shipping sector to market. One of the system’s most distinctive advantages is its high energy efficiency: it can reduce energy consumption by up to 50% compared to similar technologies, representing...
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What is Know Your Vessel? This is a term used within the maritime industry to describe the process of obtaining information about a marine vessel’s compliance with international regulations. A significant risk is its presence on international sanctions lists. Sanctions lists designate a vessel with the highest level of risk. Blacklisted vessels are subject to...