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Tuesday, March 19, 2024
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Analysis

Global rice exports could fall 4% due to India’s export restrictions

Global rice exports could fall by at least 4% in 2023 because of India’s restrictions on exports and El Niño’s impact on supply. Replacing...

Drewry: Dry Bulk Equity Index Drops 15.2 Pct This Year

The Drewry Dry Bulk Equity Index dropped 15.2% YTD as a 28.5% slump between March and May was more than enough to offset an...

Drewry: Dry Bulkers’ Earnings Potential Improved Over Past 4 Months

The Drewry Dry Bulk Equity Index decreased 7.6% YTD, underperforming the S&P 500 which rose 8.1% YTD. The decline can be attributed to macroeconomic weakness...

BIMCO: Liner supply falls as operators reduce average sailing speed by 4%

During the COVID-19 pandemic, liner operators increased the average sailing speed by up to 4% due to strong demand and widespread port congestion. Today,...

BIMCO: Second-hand crude tankers at highest values in 25 years

“Second-hand crude tanker values for five-year-old ships hit bottom levels in late 2020 and have since increased by an average 67%. Over the past...

Major carriers remain on hunt for tonnage to boost market share

Led by MSC and CMA CGM, ocean carriers are again scouring the charter and sales and purchase markets for tonnage to boost capacity and...

BIMCO: Japan’s dry bulk imports fall 4% amid weak steel demand

“Having narrowly avoided a recession in the fourth quarter of 2022, the Japanese economy appears to be recovering. However, Japan’s demand for steel remains...

Flush with cash, ONE swaps charters for own container ships

After years of relying on charters, container ship operator Ocean Network Express is tapping profits from the COVID-19 era to build its own greener,...

BIMCO – Dry Bulk Market: The way China goes, so goes the market

We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should help solve the country’s...

Post-Boom Hangover Leaves Carriers with Massive Container Surplus

The return to ‘supply chain normalisation’ has led to the container liner industry being hobbled by an estimated surplus of 5m teu of boxes,...

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Pyxis Tankers reports “solid results” in Q4

Pyxis Tankers, an international shipping company, announced unaudited results for the three months and year ended December 31, 2023. For the three months ended December...

Hapag-Lloyd publishes 2023 annual report and announces forecast for the current financial year

Hapag-Lloyd published its annual report for 2023. As expected, a significant decrease in earnings was recorded. According to the report, the Group EBITDA stood...

ZIM posts loss in fourth quarter

ZIM Integrated Shipping Services Ltd., a global container liner shipping company, announced today its consolidated results for the three and twelve months ended December...

Overseas Shipholding Group Reports Fourth Quarter and Full Year 2023 Results

Overseas Shipholding Group, a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products in the U.S....

Grindrod secures up to $113m in debt refinancing with Nordea

On March 1, 2024, a wholly owned subsidiary of Grindrod Shipping Holdings Ltd., Grindrod Shipping Pte. Ltd., entered into a US$83.0 million reducing revolving...

Container rates drop to unsustainable levels, Maersk CEO says

The global container shipping market faces overcapacity in the coming years and the rates...

Baltic index slips as capesize losses outweigh panamax gains

The Baltic Exchange’s main sea freight index declined on Thursday, as a fall in...

Global cruise leaders meet in Europe as the industry calls for action to increase...

· Cruise Lines International Association (CLIA) issued the call for action at its European...

Celestyal revamps specialty dining

Celestyal has updated the specialty restaurant menus on its two-ship fleet. The news comes...

Zodiac Maritime sells its oldest car carrier

According to reports, Zodiac Maritime has sold its oldest car carrier, the 4,363-ceu Silver...

Successful transportation of electric busses through Port of Piraeus

A total of 140 Yutong electric busses were successfully transported, reaching the Port of Piraeus and efficiently unloaded at the car terminal station for...

PPA S.A.: Welcoming event for the new cruise ship Sun Princess at the port of Piraeus

PPA S.A. and Princess Cruises, one of the world's largest cruise companies, held a special event at the port of Piraeus to celebrate the...

Port of Savannah posts record numbers February

The Georgia Ports Authority handled 451,670 twenty-foot equivalent container units in February, for an increase of 56,880 TEUs or 14.4 percent compared to the...

Successful sale of Bolloré Logistics to CMA CGM

The Bolloré Group and the CMA CGM Group announce the completion of the sale of 100 % of Bolloré Logistics to CMA CGM, it...

PPA S.A.: Successful completion of the European project CIPORT in Brussels

The concluding event for the European project "CIPORT-Cold Ironing in the Port of Piraeus – Taking the final step" took place at the Berlaymont,...