Libra Group exited the container shipping market this week after selling close to 100 vessels for more than $2 billion over several years to focus on innovation and sustainability as new drivers of growth, the company’s executive chairman said. The…
The charter owners’ container fleet has grown at an average annual rate of 3.2% for the past twelve years and currently stands at 11.7m TEU. The operator owners’ fleet has however grown faster, so the charter owners’ fleet now makes…
Crude tanker freight rates could garner support from non-OPEC+ production through the summer and later from the announced easing of OPEC+ cuts, following the latest amendments to the group’s policy, according to analysts. Saudi Arabia and seven other countries have…
The Cargo Integrity Group (CIG) brings together seven maritime, port, cargo and insurance interests in an effort to reduce the number of incidents that can occur due to badly packed or handled freight, either at sea, in port or on…
Capital Product Partners will acquire six dual-fuel medium gas carriers (MGCs) and four LCO2 handy multi-gas carriers for $756 million, with expected deliveries from the first quarter of 2026 to the third quarter of 2027. The vessels are built by…
Boluda Towage has acquired Les Abeilles International, a provider of emergency response services primarily off the Atlantic and Mediterranean coasts of France. The acquired company will now operate as Boluda Towage France. Its six French-flagged vessels will be added to…
ABS has AIPs to a 50,000 dwt ammonia-powered MR tanker design proposal from HD Hyundai Mipo, and a midship section and cargo tank for a 96,0000 cu metre very large ammonia carrier (VLAC). SHI’s VLAC design is among the largest in…
Drewry’s World Container Index (WCI) was up 12% week-on-week on 6 June at $4,716 per feu. Meanwhile the Shanghai Containerized Freight Index (SCFI) on 7 June stood at 3184.87 points, a 4.6% increase, slowing from the previous week’s double-digit percentage jump that…
The academy aims to provide smart learning through in-person, hybrid, and online lessons, as well as work environments with a holistic curriculum developed with partner organisations. The academy was launched on 7 June by Chee Hong Tat, Singapore’s Minister for…
Continuing forward with Russian President Vladimir Putin’s imperative to develop the Northern Sea Route as an alternative means of transporting cargo, Rosatom which oversees the NSR and a Chinese shipping company announced an agreement to form a joint venture. The…