Crude tanker newbuild contracting jumps 490% as VLCC orders gain pace : BIMCO
LONDON : “In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y, due to a rise in orders
Dominant OCEAN Alliance extension leaves THE Alliance stranded
SINGAPORE : The extension of cooperation among OCEAN Alliance partners has established a framework for the operation of major container lines in the coming years. As CMA CGM,
Maersk raises freight rates to US, Canada from India and West Asia
COPENHAGEN : Maersk has announced a rate increase of $1,000 per container to the US and Canada ports from March 2. The increase is applicable to cargo originating
CMA CGM climbs to the top of Schedule Reliability in January 2024
COPENHAGEN : Sea-Intelligence has released the 150th edition of the Global Liner Performance (GLP) report, featuring schedule reliability data up to and including January 2024. Amidst the ongoing
Red Sea attacks add urgency to alternate Mideast trade route
NEW DELHI : The volatile situation in the Red Sea increases the need for an alternate trade corridor to ship goods from India to Europe, India’s ambassador to
CMA CGM and Nike forge agreement for sustainable shipping solutions
MARSEILLE : Nike, a global leader in the apparel and sportswear sector, has recently forged an agreement with French ocean carrier CMA CGM to purchase eco-friendly biofuel for
NYK Group establishes region heads worldwide
Promoting the NYK Group’s Regional Strategies TOKYO : On April 1, the NYK Group will establish the NYK Group region heads in Europe (London), the Americas (Secaucus), China
UN : Applying the law of the sea to protect International Shipping
LONDON : In recent decades, global shipping—carrier of 80 per cent of world trade—has faced numerous threats that challenge the long-established right to freedom of navigation for all
Baltic Index climbs to 10-Week high on rising Vessel rates
LONDON : The Baltic Exchange’s dry bulk sea freight index extended gains on last Thursday to hit an over two month peak, supported by rising rates across all
BIMCO : Tanker Market strengthens despite slowing oil demand growth
LONDON : Supply/demand balance For crude tankers, we forecast that the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing