Houthi attacks in Red Sea: Shipping diversions spewing carbon emissions of 9 million cars
NEW YORK : Ships seeking to avoid ongoing attacks by Houthi rebels in the Red Sea area are emitting millions of additional tonnes of carbon, making it tougher
Red Sea crisis end to reignite container shipping challenges
LONDON : Clarksons’ latest container shipping report said that weak “underlying” supply-demand fundamentals will materialise once the Red Sea disruption comes to an end. Boxship fleet growth is
Product tanker recycling drops 82% year-on-year to lowest on record
LONDON : “In 2023, only seven product tankers with combined deadweight tonnes (DWT) capacity of 265,000 were recycled. This was a year-on-year drop of 82% compared to 1.5
Record deliveries could push container fleet above 30 million TEU in 2024
LONDON : “In 2023, shipyards delivered 350 new container ships with a total capacity of 2.2 million TEU, beating the previous record from 2015 when 1.7 million TEU
SRC Group receives Approval in Principle for Methanol Superstorage solution on existing ships
NEW YORK : A new and space efficient retrofit methanol storage solution from SRC Group has received Approval in Principle from Lloyd’s Register, signifying that no major conceptual
Ship Recyclers in India the most active in the market
GEORGIA : The ship recycling market has witnessed the most interest from India this past week. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “India
Container spot rates on a ‘likely recovery path’: HSBC
LONDON : Spot container freight rates have stabilised and HSBC Global Research notes sign of a recovery in its latest report. n its Global Freight Monitor HSBC noted
Empty containers pile up at global ports as trade slows
SHANGHAI : Empty containers are piling up at major ports around the world as slowing economies weigh on shipping demand. In the week of Feb. 5, the CAx