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The dry bulk market is slated for a renewed rally during the summer months, one which could see rates return to records not seen since 2008. In its latest weekly report, shipbroker Allied Shipbroking said that “last week’s (7-11 June) stellar performance in the dry bulk market could well be a good sign of W-O-W ... The post Dry Bulk Market Could Be Headed Back to 2008 first appeared on Hellenic Shipping News Worldwide. […]

Overview A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committee has adopted a clearly worded standalone ... The post BIMCO publishes new standalone Refund Guarantee for Shipbuilding Contracts first appeared on Hellenic Shipping News Worldwide. […]

Global food trade looks set for a resilient year ahead despite supply and demand uncertainties, according to a report from the Food and Agriculture Organization of the United Nations (FAO). Trade flows for agricultural, and particularly less-perishable, foods have reached record highs during the Covid-19 pandemic, leading the FAO to predict that the world food ... The post Record-breaking world food trade forecast: Robust supplies and resilient demand characterise outlook first appeared on Hellenic Shipping News Worldwide. […]

The product tanker market has a long way to go, as global gasoline demand is expected to lag in terms of demand recovery, with crude oil expected to recover first. In its latest weekly report, shipbroker Intermodal said that “while approaching the second half of the year and summer season is just around the corner, ... The post Product Tanker Market Recovery Still Has a Long Way to Go first appeared on Hellenic Shipping News Worldwide. […]

DNV has launched the EEXI Calculator – a digital tool to support customers in ensuring their compliance with the upcoming Energy Efficiency Existing Ship Index (EEXI). The regulation is expected to be adopted at this week’s 76th meeting of the Marine Environment Protection Committee (MEPC 76). If so, it would take effect in January 2023. ... The post DNV launches new digital EEXI Calculator: An estimated 30,000 vessels will need to take action to comply with the regulation, New digital self-service tool launched to support the compliance process first appeared on Hellenic Shipping News Worldwide. […]

Standardising and harmonising electronic ship to shore communication for reporting purposes was high on the agenda at the International Maritime Organization’s (IMO) virtual Facilitation Committee (FAL) meeting held from 1-7 June 2021 (FAL 45). One of the outcomes from the IMO meeting in the Facilitation Committee (FAL 45) was that a new updated version of ... The post BIMCO welcomes updated IMO Compendium to advance electronic data first appeared on Hellenic Shipping News Worldwide. […]

A bunker barge has returned to expand bunker options along US Gulf Coast, and a resupply date has been set for a tight Vancouver market. US fuel oil demand has been strong so far in June. The US supplied 39% more fuel oil on a weekly average in the two first weeks of June compared ... The post ENGINE: Americas Bunker Fuel Availability Outlook first appeared on Hellenic Shipping News Worldwide. […]

The ships’ recycling market has sprung back to life this past week, after a lack of activity during the past few weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “with various negotiations rumoured to be in place this week, the market appeared to come back to life with cash buyers spraying ... The post Demolition Market Springs Back to Life first appeared on Hellenic Shipping News Worldwide. […]

The ports of Los Angeles and Long Beach continue their record-breaking start to the year, exceeding pre-pandemic records again and again. Already under pressure to handle a throughput that has broken the pre-pandemic record every month for 11 months in a row, practically all ports in the US will have to continue to run fast ... The post San Pedro Bay ports struggle to keep up as record-breaking 1.9m TEU handled in May first appeared on Hellenic Shipping News Worldwide. […]

DNV, the independent assurance and risk management provider, has highlighted how 10 key energy transition technologies are expected to develop, compete, and interact over the next five years if global economies are to meet emissions reduction targets. DNV’s aim is to make an objective and realistic assessment of the status of these technologies and evaluate ... The post New DNV research highlights 10 energy systems technologies that must work together to meet global decarbonization targets first appeared on Hellenic Shipping News Worldwide. […]