International Shipping News.

International Shipping News – Hellenic Shipping News Worldwide Hellenic Shipping News Worldwide, Online Daily Newspaper on Hellenic and International Shipping

  • Baltic index logs weekly gain on sturdy capesize and supramax rates
    by hellenicshippingnews... on 23 February 2024 at 22:00

    The Baltic Exchange’s dry bulk sea freight index rose to an over one-month high on Friday and logged a weekly gain, as rates across the capesize and supramax segments pushed higher. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 114 points, or 6.5%, at 1,866 points, its ... […]

  • Urgent need for newbuild tanker orders
    by hellenicshippingnews... on 23 February 2024 at 22:00

    High freight rates and robust global demand for oil and its derivatives are putting tanker owners in a great mood and consequently, after a notable uptick in 2023, the surge in tanker newbuild activity shows no signs of abating in 2024. A confluence of factors has led to this buoyant and profitable market for tanker ... […]

  • Unprecedented shipping disruptions raise risk to global trade, UNCTAD warns
    by hellenicshippingnews... on 23 February 2024 at 22:00

    Recent attacks on commercial vessels in the Red Sea have severely affected shipping through the Suez Canal, adding to existing geopolitical and climate-related challenges facing global trade and supply chains, UNCTAD says in a new report released on 22 February. The Red Sea crisis compounds the ongoing disruptions in the Black Sea due to the ... […]

  • Xeneta: ‘Cause and effect’. Red Sea surcharges and the power of uncertainty
    by hellenicshippingnews... on 23 February 2024 at 22:00

    Cause and effect. A well-known phrase, defined as ‘the principle of causality, establishing one event or action as the direct result of another’. If an example were needed to sit underneath this dictionary definition, you could easily reference the introduction of surcharges in ocean freight shipping due to the ongoing situation in the Red Sea ... […]

  • WAF VLCC rates fall over 10% on day as supply-demand fundamentals rebalance
    by hellenicshippingnews... on 23 February 2024 at 22:00

    Very Large Crude Carrier freight rates for voyages loading in West Africa fell by more than 10% on the day Feb. 21, with sources pointing to a rebalancing of supply-demand fundamentals following the significant rise in rates seen earlier in the month. Platts, part of S&P Global Commodity Insights, assessed the rate for the key ... […]

  • InterManager ExCom member to run London Marathon for Seafarers’ Charity
    by hellenicshippingnews... on 23 February 2024 at 22:00

    InterManager Executive Committee member, Karen (Katherine) Avelino is planning to run the London Marathon on Sunday 21 April 2024 to raise funds for the Seafarers’ Charity. Philippines-based Karen, who is Executive Director of Business Development, Shipping, for Philippine Transmarine Carriers (PTC), will be running alongside her daughter Karmel Avelino, a graphic designer at Carnival Cruise ... […]

  • Drewry: World Container Index Down By 2% Last Week
    by hellenicshippingnews... on 23 February 2024 at 22:00

    Drewry’s World Container Index decreased by 2% to $3,659 per 40ft container this week. Our detailed assessment for Thursday, 22 February 2024 The composite index decreased by 2% to $3,659 per 40ft container this week and has increased by 93% when compared with the same week last year. The latest Drewry WCI composite index of ... […]

  • Houthis to step up Red Sea strikes, use ‘submarine weapons’, leader says
    by hellenicshippingnews... on 23 February 2024 at 22:00

    Yemen’s Iran-aligned Houthis claimed responsibility for an attack on a UK-owned cargo ship and a drone assault on an American destroyer on Thursday, and they targeted Israel’s port and resort city of Eilat with ballistic missiles and drones. The statement by a Houthi representative on social media site X came shortly after the group’s leader ... […]

  • Asia Fuel Oil-Benchmarks remain soft on ample supply, slow demand
    by hellenicshippingnews... on 23 February 2024 at 22:00

    Asia’s spot benchmarks for fuel oil remained under pressure on Friday amid ample supply and weak demand for marine bunker fuel. The market for very low sulphur fuel oil (VLSFO) dipped into a weaker premium on Friday, while high sulphur fuel oil (HSFO) stagnated in discounts amid ample regional supplies. Demand for marine bunker fuel ... […]

  • Financial results reflect a year of contrasts for the transport and logistics industry and confirm the relevance of the CMA CGM Group’s strategy
    by hellenicshippingnews... on 23 February 2024 at 22:00

    Commenting on the results for the year, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “As our sector normalized, the Group’s performance remained solid in 2023. Shipping market conditions deteriorated progressively during the year. Our results are down as we expected. Logistics, on the other hand, is proving more resilient, and accounts ... […]

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