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Baltic index slides for seventh straight sessions

The Baltic Exchange’s main dry bulk sea freight index on Wednesday fell for the seventh consecutive session to its lowest levels in more than a month, hurt by declining rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 144 points, or 7.2%, to 1,845 points, its lowest since Feb. 22. The capesize index lost 326 points, or 11%, at 2,638, down for the seventh straight session. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such ...

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Dry Bulk Coal Flows to China Saw an Increase in Australian Coal, As Opposed to Russian Coal

China reduced its intake of Russian coal during the first quarter of the year, while Australia saw a surge in its export volume compared to the previous year’s lows, particularly noticeable in the January to March period. In the closing days of March, there has been a discernible softening of momentum in the Capesize Brazil to North China rates, following an upturn recorded in the previous week. Nevertheless, the recent momentum remains notably firmer than levels observed a month ago. Notably, the larger vessel size categories continue to exhibit strength, ...

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East Mediterranean hubs suffer as Red Sea crisis persists

The re-routing of mainline vessels via the Cape of Good Hope has resulted in a steep downturn in vessel call capacity across East and Central Mediterranean hub ports, but West Mediterranean ports have shown more resilience. With no resolution to the security situation in the Red Sea, carriers continue to divert mainline vessels trading between Asia and Europe via the Cape of Good Hope. After an initial period of disruption when scheduled arrival dates were missed due to the longer diversion route, port calls in West Med have largely stabilised. ...

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S&P Global Analysis: Baltimore bridge collapse disrupts local traffic, global shipping

On March 26, the Francis Scott Key Bridge in Baltimore collapsed after being struck by a containership operated by AP Moeller Maersk A/S on an international route between the US east coast and Asia. The collapse blocks the main access to the port of Baltimore and traps six bulk carriers and two navy vessels. According to Mr. Chris Rogers, Head of Supply Chain Research, S&P Global Market Intelligence: “The bridge collapse is the latest challenge for northeast US supply chains, including access to the Red Sea and Panama Canal as ...

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Houthis could partner with Iran, Somali pirates on Indian Ocean attacks

Yemen-based Houthi militants could keep the promise to extend their attacks to merchant ships in the Indian Ocean, potentially with drones and assisted by Iran and Somali pirates, security specialists said. Since the war between Israel and Iran-backed Hamas broke out on Oct. 7, the Houthis have launched more than 60 attacks on commercial ships around the Bab al-Mandab Strait — mainly with missiles and unmanned aerial vehicles — and claimed those were in support of the Palestinians. The rebel group, also backed by Iran, earlier this month vowed to ...

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Merganser receives certification from Bureau Veritas

Bureau Veritas (BV), a global leader in testing, inspection, and certification (TIC), has awarded the Dutch-Norwegian renewable energy company SolarDuck the world’s first Prototype Certification for a floating offshore solar technology, as applied in SolarDuck’s 0.5 MW pilot “Merganser”. This certification represents a significant step forward in the development of marine renewable energy technologies for offshore applications. The Merganser project, developed by SolarDuck and supported by RWE, features an offshore floating solar pilot with a capacity of 520 kWp. Comprising six interconnected platforms, the solution is designed to withstand challenging ...

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How shipping containers can make or break the global economy

The shipping container is a logistics marvel that can affordably move thousands of items from hundreds of different companies all around the globe. If there is a slowdown in shipping-container circulation, there could be massive supply chain bottlenecks. “The skill involved in containerization is moving that container from point A to point B and getting it back to point A as quickly and efficiently as you possibly can,” Simon Heaney, senior manager of container research at Drewry, a maritime research and consulting firm, told CNBC. Supply chain disruptions Disruptions to ...

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US Treasury issues new batch of sanctions on tankers linked to Iranian oil trade

The US Department of Treasury March 26 sanctioned additional actors and tankers that have helped ship Iranian commodities to fund the activities of Iran and its proxy groups in the region, the sixth round of sanctions targeting a key Houthi rebel financial facilitator. “The United States will continue to take action to disrupt the abuse of international energy markets to facilitate terrorist activities,” Brian Nelson, undersecretary of the Treasury for terrorism and financial Intelligence, said in a statement. The new sanctions target the network of Houthi financial facilitator Sa’id al-Jamal, ...

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Asia Fuel Oil-Cash differential for 180-cst HSFO steady, VLSFO falls

Cash differentials for spot 180-cst high sulphur fuel oil were little changed on Wednesday, as fears of abundant supplies were offset by persisting attacks on Russian refining systems. Spot 180-cst high sulphur fuel oil differentials held steady on discounts to Singapore quotes at $6.29 per ton. “Even though Russia is thinking of deferring planned spring refinery maintenance to offset the decline in refining due to Ukrainian attacks, we estimate Russia would only be able to offset about half of the refinery outages this way and will still be forced to ...

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ENGINE: Europe & Africa Bunker Fuel Availability Outlook

Northwest Europe Availability is normal in Rotterdam and in the wider ARA hub, a trader said. Lead times of 4-6 days are recommended for HSFO and 4-5 days for VLSFO. LSMGO can be secured with short lead times of 2-4 days, traders said. The ARA’s independently held fuel oil stocks have averaged 9% higher so far this month than across February, according to Insights Global data. The ARA’s fuel oil stocks have grown to their bulkiest levels since April 2021. The region has imported 267,000 b/d of fuel oil so ...

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Pacific Basin leads the largest adoption of graphene-based coating in the dry bulk segment

In a proactive move towards energy efficiency and environmental sustainability, Pacific Basin, a leading dry bulk shipping company, has decided to apply a sustainable graphene-based propeller coating, XGIT-PROP, across its entire fleet. This innovative coating, developed by Canadian company GIT Coatings, has demonstrated the potential to enhance vessel performance by up to 4%, which also makes it a highly effective solution to improve CII and RightShip GHG ratings. Following successful application and observing positive results on one of its Supramax dry bulk vessels, Pacific Basin has started the rollout of ...

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Vessel Dali Passed Previous Foreign Port State Inspections

The container vessel, Dali, was flagged with Singapore from October 2016 and is classed by classification society ClassNK. Classification societies are generally authorised by a flag administration to monitor compliance to technical standards and the applicable regulations by vessels registered under its flag. Based on records, the Maritime and Port Authority of Singapore confirms that the vessel’s required classification society and statutory certificates covering the structural integrity of the vessel and functionality of the vessel’s equipment, were valid at the time of the incident. The vessel also underwent and passed ...

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HD Hyundai chair commits to upping support for foreign workers

HD Hyundai Chairman Kwon Oh-gap met with foreign workers at its shipyard to ensure decent working conditions against the backdrop of an increasing number of workers from abroad at around 8,700. Kwon, along with other key executives from HD Hyundai’s shipbuilding affiliates, held a luncheon meeting with 42 workers from Vietnam, Uzbekistan and other foreign countries in Ulsan on Wednesday. “The company will strive to ensure that you return in glory and in good health when you go back home,” he said. Kwon also encouraged workers to maintain a focus ...

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MOL’s Innovation Activities Earn ClassNK Innovation Endorsement Certification

Mitsui O.S.K. Lines, Ltd. announced that “FOCUS” (Note 1), a ship operation data analysis software system, and “Sustainable Seafaring, Wellness Living” (Note 2), a living quarters concept that enhances seafarers’ wellbeing, have received Nippon Kaiji Kyokai (ClassNK)’s Innovation Endorsement Certification (Note 3), which recognizes innovative initiatives in the maritime industry. The MOL Group is pursuing various innovation activities and R&D to address sustainability issues (materiality) and realize the group vision. Innovation Endorsement is ClassNK’s initiative as a third-party certification body to create new value and classified into three categories: (1) ...

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Simply Blue Group Diversifies To Develop Sustainable Fuels Projects

Simply Blue Group, a leading global offshore wind project developer, is developing onshore renewable energy parks to power facilities capable of producing sustainable aviation fuel (SAF). The projects, in Canada, Ireland and Australia will process more than 1.5 million tonnes of sustainable biomass annually to produce over 300,000 tonnes of SAF each year. The company currently has a pipeline of fixed bottom (c. 4GW) and floating wind projects (c. 10GW) globally and has been recognized as a pioneer of floating offshore wind. Simply Blue Group’s sustainable fuels will be produced ...

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