International Shipping News.

The Baltic Exchange’s main sea freight index marked its best week in more than two months on Friday, despite a daily decline attributed to weakness in capesize vessel segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 37 points, or 1.7%, to 2,129. The index was up more ... […]

The flow of tonnes of dirty oil to China from global sources has seen a notable downturn, particularly impacting the Russian Federation, which has experienced a consistent decline since the first quarter of the year. As May began, signs of improvement emerged in the VLCC MEG-China route, contrasting with the persistently subdued sentiment in the ... […]

The quarterly results from the major carriers are beginning to be reported, with ONE and Maersk having issued theirs at the time of writing and with OOCL having issued their quarterly operational update with revenues and volumes but without profit levels. Overall performance has clearly improved compared to the fourth quarter of 2024, and this ... […]

Drewry’s World Container Index increased 16% to $3,159 per 40ft container this week. Our detailed assessment for Thursday, 09 May 2024 The composite index increased 16% to $3,159 per 40ft container this week and has increased by 81% when compared with the same week last year. The latest Drewry WCI composite index of $3,159 per ... […]

In April 2024, U.S. container import volumes increased 3.0% from March and 9.3% when compared to the same month last year, consistent with a strong and resilient economy in the face of global instability. After a significant decline in March 2024, April’s Chinese imports bounced back, regaining volumes seen in April 2023. Port transit delays ... […]

Panama’s president-elect, Jose Raul Mulino, said he will urge lawmakers to approve a law enabling the Panama Canal to build large water reservoirs in the face of an unprecedented drought that has hit the capacity of the vital waterway. In an interview at his office in Panama City, Mulino said he wants the law, which ... […]

Asia’s refining margins for fuel oil posted weekly increases as of Friday, with cracks for the 380-cst high-sulphur grade (HSFO) extending a climb for a fourth consecutive week. The front-month 380-cst HSFO crack closed at discounts of about $6 a barrel at 0830 GMT, logging a weekly climb of 7% from last week, based on ... […]

Iran has released seven crew members of a Portuguese-flagged container ship seized in the Gulf on 13 April, according to a statement by Lisbon on Thursday. Seventeen of the 25-member crew still remain on board as Tehran accuses the ship of being associated with Israel. Five of the freed crew members are from India, while ... […]

PT Pertamina International Shipping (PIS) is solidifying its position as a top-tier player in ASEAN LPG transport by acquiring two additional Very Large Gas Carriers (VLGCs), named VLGC Pertamina Gas Caspia and VLGC Pertamina Gas Dahlia. These VLGCs signify more than mere vessels; but a testament to international collaboration, technological advancement, and an unwavering commitment ... […]

Jan De Nul Group started 2023 with a high level of confidence, but our expectations were far exceeded. The turnover continued to grow to 2.9 billion euro, a record in the history of the Group. This led to an increase in EBITDA with 39% to 610 million euro or 21% on turnover, globally resulting in ... […]