Hellenic Shipping News Worldwide Hellenic Shipping News Worldwide, Online Daily Newspaper on Hellenic and International Shipping

Bulkers: Bulkers values have remained stable

Bulkers: Panamax values have softened

The dry bulk market has continued to remained depressed, although some signs of a tentative rebound were obvious during last week’s trading. In its latest weekly report, shipbroker Allied Shipbroking said that “a glimpse of hope was to emerge in the dry bulk market this past week as a surge of iron ore shipments from Australia and Brazil helped the Capesize market escape from the doldrum levels that it had been trapped in since mid-July. This surge in shipments was notable given that we witnessed a week-on-week increase of over ...

Oslo-based Xeneta is calling into question industry narratives of significantly declining ocean freight volumes and shipper dismay over rising Bunker Adjustment Factors (BAF). In its latest ‘Ocean Freight Pulse’ survey of its user base, made up of globally leading shippers, Xeneta found that over 50% of respondents expected volumes to stay the same or increase, while 38% expected a drop of just 5%. On the issue of BAF, 78% said they were staying with the original bunker formula, accepting the outlined Q3 increase in their long-term contracted agreements with carriers. ...

On 22 July, Russia and Ukraine signed an agreement to allow grain exports from three ports in Ukraine during a period of 120 days. On 7 September, Putin expressed concerns over the agreement, giving rise to uncertainty about its scope and renewal. More than 40 days have passed since the agreement was signed, and 2.1 million tonnes of grain have been exported through the ports of Chornomorsk, Odesa and Yuzhne. After a slow start, around 0.5 million weekly tonnes of grains are now being exported. At this pace, monthly exports ...

Dry bulker and container freight rates have continued to fall over the past three months. Due to the seasonality of the market, dry bulk freight rates would typically peak in the third quarter; however, according to S&P Global Market Intelligence’s latest dry bulk freight market outlook, the second quarter would likely be the peak of 2022. Key highlights from the analysis include: · S&P Global Market Intelligence Freight Rate Forecast models predicts that the Baltic Dry Index (BDI) is expected to fall about 20–30% on the year to average about ...

The week ahead China’s activity data tops the list next week as industrial, retail data and more will be announced. Although upcoming reports will not capture the recent lockdowns, they could be a useful measure of the health of China’s economy ahead of the closures. Aside from China data, we also have labour data from Australia and India’s inflation report. Other data reports in the coming week are Indonesia’s trade data and Korea’s MPC minutes, which could shed light on future rate hike decisions. Lastly, Japan reports core machinery orders ...

The British government is expected to announce dozens of new North Sea oil and gas exploration licences in an effort to boost domestic production, two sources familiar with the government’s discussions said. The exact number of new licences was still to be confirmed, one of the sources, who spoke on condition of anonymity, said. The other said it could be as many as 130. The announcement could come as soon as Thursday. Prime Minister Liz Truss, who was appointed on Tuesday, is due to set out to parliament on Thursday ...

The Baltic Exchange’s main sea freight index extended gains on Thursday as rates for the panamax vessel segment rose for the sixth straight session. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 45 points, or about 4%, at 1,178, a two-week high. The capesize index fell for the third consecutive session, losing 4 points, or about 0.6%, to 652. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron-ore used in construction, fell $35 to ...

Ukraine’s sunflower seed exports in the new 2022/23 September-August season could fall by 29% to 1.1 to 1.2 million tonnes if its Black Sea ports remain open, analyst APK-Inform said on Wednesday. Alternatively, if the ports are shut, exports of sunseeds may be preferred over grain, with 2022/23 sunseed exports seen rising to up to 3 million tonnes from 1.63 million last season, APK-Inform said. Ukraine’s agricultural exports have slumped since the start of the Russian invasion because its Black Sea ports, a key route for shipments, were closed off, ...

Ukraine’s decision to allow its seafarers to leave the country despite wartime restrictions will free up vital manpower for both Ukrainian grain exports and the wider global shipping industry, industry figures told Reuters. The move, officially confirmed this week, is part of efforts by Ukraine to maximise its grain shipments via a UN-brokered corridor through the Black Sea, which lifted a Russian blockade of Ukraine’s south coast when came into effect in early August. “We understand that the grain corridor depends on them (seafarers) and the world of international logistics ...

The Bank of England said on Thursday it would move to a “more British style of regulation” for the country’s huge financial services industry as it seeks to take advantage of Brexit. The BoE’s Prudential Regulation Authority published a discussion paper describing its proposals for policy-making now that Britain has left the European Union. “The move to a more British style of regulation, with technical rules made by regulators rather than set out in law, will enable us to deliver strong prudential standards in a manner that is proportionate, supports ...

The CMA CGM Group, a global player in sea, land, air and logistics solutions has been named Best Global Shipping Line at the 2022 Asian Freight, Logistics and Supply Chain Awards (AFLAS) last evening. Voted by industry stakeholders, customers, global shippers and readers of Asia Cargo News, the accolade symbolises their resounding confidence in CMA CGM as the global ocean carrier of choice. 275 shipping services providing an unparalleled global connectivity A member of the Ocean Alliance, CMA CGM facilitates global trade through container shipping to 160 countries in five ...

Innovation is nothing new to the shipping sector. But the scope of the transformation process that has been initiated to decarbonise nearly all shipping traffic opens up entirely new dimensions. Green hydrogen, its derivatives converted to e-fuels and PtX fuels, and the fuel cell systems operating on these fuels on board ships are in focus at the international trade fair for the shipping industry, SMM, where the maritime industrial and innovation cluster ‘e4ships’ highlights application concepts, scientific findings and practical experiences. Facing the escalating climate and energy crisis, the global ...

Corvus Energy, the world’s leading provider of zero-emission solutions for the maritime industry is pleased to announce that the Company has been selected to lead an IPN project – a program funded by the Research Council of Norway to promote innovation in the industry. Corvus Energy joins forces with research institute NORCE and other partners for the project which has been awarded 13,9 million NOK in funding. The industrial project, titled “Optimized Hydrogen Powered Maritime Mobility” or “OptHyMob” for short, will improve operations of hydrogen-driven marine vessels in order to ...