Djibouti strongly rejects low port efficiency ranking
The Djibouti government describes as ‘obviously absurd’ a fall of over 350 places in World Bank and S&P port efficiency ranking. Marcus…
KR, Hanwha Ocean, Amogy and Hanwha Aerospace team up for application of ammonia reformers and ammonia fuel cell systems to ships
KR has announced a Memorandum of Understanding (MoU) with Hanwha Ocean, Amogy, and Hanwha Aerospace. The MoU, signed at Posidonia 2024 in…
Rhine in south Germany closed to shipping, may reopen on Friday
Parts of the river Rhine in south Germany remained closed to cargo shipping on Thursday after weekend rain in south Germany raised…
Asia Fuel Oil-Market strength eases, inventories extend recovery
Asia’s high sulphur fuel oil (HSFO) market continued to ease on Thursday, while onshore inventories in Singapore recovered for a second consecutive…
Baltic index rises for 3rd day as larger vessel rates gain
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, extended gains for a third consecutive…
Libra Group exits container shipping in $2 bln sales play
Libra Group exited the container shipping market this week after selling close to 100 vessels for more than $2 billion over several…
Charter owners’ share of fleet has fallen to 40%, lowest since 2002
The charter owners’ container fleet has grown at an average annual rate of 3.2% for the past twelve years and currently stands…
Bullish potential for crude tankers amid revised OPEC+ cuts
Crude tanker freight rates could garner support from non-OPEC+ production through the summer and later from the announced easing of OPEC+ cuts,…
Hazardous cargoes guide to save lives and cost
The Cargo Integrity Group (CIG) brings together seven maritime, port, cargo and insurance interests in an effort to reduce the number of…