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Tuesday, June 25, 2024
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Fitch Ratings updates oil and gas price assumptions

Fitch Ratings has maintained most of its oil and gas price assumptions, reflecting broadly unchanged market fundamentals. Our base-case oil price assumptions have not changed....

Newbuilding 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...

Containers: Spot rates in China to hit five figures

There were further double-digit increases in container spot freight rates this week, after a series of general rate increases and other surcharges came into...

BIMCO: Tanker shipping demand to rise by 10.2% in 2024, compared to 2022

Houthis continue to attack ships in the Red Sea and the Gulf of Aden, and there is no end to the conflict in sight....

China’s port throughput continues to grow; export decline slows further

Total throughput at China’s ports continued to increase in 1Q24, likely because recovering demand in the US and EU boosted container throughput, Fitch Ratings...

Drewry LNG shipping equity index up 12.7% year to date

The Drewry LNG Shipping Equity Index increased 12.7% YTD (as of 2 May 2024), outperforming the S&P 500, which was up 6.2% during the...

Drewry Dry Bulk Equity Index Down 3.9% Last Month

In March, the Drewry Dry Bulk Equity Index declined 3.9% and underperformed the S&P 500, which rose 2.3% during the same time. However, the...

Container Freight Rates Stabilizing

While container spot rates on the Asia-Europe and Asia-North America trades continued to remain elevated, year on year, due to the Red Sea crisis,...

Overcapacity Still Plaguing Container Shipping

On 26 March 2024, a 9,971 teu container vessel ‘DALI’ collided with the Francis Scott Key Bridge near the Port of Baltimore. The vessel...

Drewry: World Container Index Down By 3% Last Week

Drewry’s World Container Index decreased by 3% to $2,836 per 40ft container this week. Detailed assessment for Thursday, 04 April 2024 The composite index decreased by...

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TEN Reports Profits for the First Quarter 2024

TEN reported results (unaudited) for the quarter ended March 31, 2024. Q1 2024 SUMMARY RESULTS The first quarter of 2024 has been the springboard for TEN's...

Scorpio Tankers announces updates on its securities repurchase program and second quarter of 2024 daily TCE revenues

Scorpio Tankers announced updates on its securities repurchase program and second quarter of 2024 daily TCE revenues. Securities Repurchase Program The Company recently repurchased 641,654 of...

V. Group embarks on new chapter of growth as consortium led by STAR Capital assumes ownership

V.Group, the global provider of mission critical services to the maritime industry, announced that a consortium led by STAR Capital including Ackermans & van...

Navigator Gas announces 6 million share secondary offering

Navigator Holdings revealed that BW Group Limited, a shareholder in the company, is publicly offering 6 million shares of Navigator Gas's common stock. The...

Vantage Drilling contemplates the listing of its shares on Euronext Growth in Oslo

Vantage Drilling International is currently exploring a possible listing of its shares on Euronext Growth Oslo, a multilateral trading facility operated by Euronext. A...

Celebrating seafarers worldwide on 25 June: International Day of the Seafarer

On the International Day of the Seafarer, IMO Secretary-General Mr. Arsenio Dominguez pays tribute...

Baltic index falls as larger vessel rates dip

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry...

Emanuele Grimaldi re-elected as Chairman of the International Chamber of Shipping

The International Chamber of Shipping (ICS) Board of Directors has unanimously re-elected Emanuele Grimaldi,...

Baltic index hits more than one-month high on strong capesize demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry...

Trauma from Red Sea attacks adds to seafarer shortage

When a missile fired by Yemen’s Houthi Islamists landed near his ship in the...

India approves new deep sea port to boost trade with Europe

India’s cabinet approved development on Wednesday of a new deep-water port that the government said will be a crucial part of a plan to...

DP World Romania doubles container shipping capacity in Black Sea port

DP World Romania has more than doubled its container shipping operating capacity in the Black Sea port of Constanta following investment that will also...

PPA: Two-day workshop on the preparation of the Regulation for tugboats

On May 29 and 30, 2024, PPA conducted an interactive workshop for the study and preparation of the Regulation for tugboats, following the issuance...

Zero Emission Port Alliance onboards leading organisations in container port industry

The Zero Emission Port Alliance (ZEPA) announces the onboarding of 11 organizations from the container port industry. Among the members are APM Terminals, CATL,...

Port 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...