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…
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…
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…
Clean LR2 MEG LR2’s saw freight levels fall off again this week. The TC1 rate for 75kt MEG/Japan sunk 30 points to WS240.56 and the 90kt MEG/UK-Continent TC20 voyage went from $7.79 million to $6.8 million. West of Suez, Mediterranean/East…