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Green technologies enhance efficiency of shuttle tankers

AET, one of the leading petroleum tanker owners and operators, has a long tradition of naming its vessels after some of the greatest energy locales, cities or ports in the world. Their latest two dynamic positioning shuttle tankers (DPSTs) will join the “B” ship series and are named after the Eagle Blane and Eagle Balder oil and gas fields on the Norwegian continental shelf. Meeting international emission regulations Eagle Blane and Eagle Balder not only continue AET’s naming tradition but also underline the company’s commitment to preserving the environment through ...

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Ningbo Containerized Freight Index Report, 21 February 2020

In the week ending Feb-21, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 827.0 points, slightly

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ShipsFocus Weekly Chemical Shipping Report, Week 08 2020

ShipsFocus Weekly Chemical Shipping Report, Week 08 2020

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Weber Weekly Tanker Report Week 08 2020

VLCC: It was another lackluster week on the VLCC front. Eastbound rates hovered in the low $20,000’s per day level. We saw resistance from

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Gibson tanker report – Could some VLSFO fuels be banned?

The run up to the implementation of the new IMO rules on marine fuels from 1st January 2020 had owners and charterers analysing the various

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Tanker Market Rates 23/02/2020

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Effects on Shipping from the Coronavirus Effect Far and Wide

The effects from the Coronavirus have started to have a negative impact on a number of shipping-related industries and markets, from the dry bulk market, to the tanker and from ship-repair businesses in China, to crew-training schools in the Philippines. In its latest weekly report, shipbroker Intermodal said that “the coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GDP. The degree to which different economies will be affected varies, with some countries looking at damages only in ...

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Global shipping holds its breath as the coronavirus continues to spread

The outbreak of the novel coronavirus, recently dubbed COVID-19, continues to generate massive economic and financial uncertainty when it comes to China and global shipping. Two weeks ago, we argued that – from an economic perspective – when China sneezes, we all catch the flu. Since the SARS outbreak in 2003, the global economy has become much more interlinked with China and the Chinese economy has grown to become the second largest in the world. While hard facts and reliable data are in high demand, they are in short supply, ...

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Baltic index posts second weekly gain, but shipping activity slows

The Baltic Exchange’s main sea freight index rose for a fifth straight session on Friday, ending higher for a second straight week, as vessel rates rose despite concerns over the impact of coronavirus on global growth. The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 17 points, or 3.5%, to 497. The index posted gains for a second straight week. The capesize index, which tracks vessels that typically transport 170,000 to 180,000 tonne cargoes including iron ore and coal, rose 6 ...

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Economies face extreme headwinds

Global economies were already not at their healthiest when Covid-19 arrived to shut down cities, curb trade and restrict travel. Now, economic warnings from around the world are being issued making the 2020 outlook rather bleak. Consequently, those reliant on healthy economies to drive world trade now need to batten down the hatches. Singapore announced a raft of support packages in its budget this week to shore up its economy against the impact of the Covid-19 outbreak. A total of S$800 million has been allocated to fighting the spread of ...

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Drewry: World Container Index Down 5.8% on Week

The composite index decreased 5.8% this week similarly, 1.9% down when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,732 per 40ft container, which is $344 higher than the five-year average of $1,388 per 40ft container. Drewry’s composite World Container index decreased by 5.8% to $1575.99 per 40ft container. Spot rates on trade routes originating from Asia continue to follow a downward trajectory despite an increase in blank sailings by carriers. Freight rates from Shanghai to Rotterdam and Shanghai ...

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BlueWater Reporting closely monitoring blanked sailings amid Coronavirus outbreak

BlueWater Reporting is closely monitoring blanked sailings on the Asia-North America and Asia-North Europe/Mediterranean trades. This data is becoming increasingly important due to the spike in blanked sailings this year, which has been exacerbated by the Coronavirus and its effects on global supply chains. Data includes the individual services blanking a sailing, the date of the blanked sailing, and expected capacity that will be withdrawn as a result of the blanked sailing, based on average TEU vessel size on the service. The blanked sailings data lists blanked sailings from Asia ...

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Shipping industry faces $370 million hit from new Panama Canal charge

A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up to $370 million a year, marking another blow for maritime companies already hit by fallout from the coronavirus. The Panama Canal, one of world’s busiest shipping routes, which handled nearly 14,000 transits last year, said last month it would introduce a charge from Feb. 15 of $10,000 for any vessel more than 125 feet long. The canal, which relies on water from nearby Gatun Lake, has ...

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Atlantic, Pacific LNG shipping rates continue to dip on high spot vessel supply

Atlantic and Pacific shipping rates for LNG fell to $40,000/day on high spot vessel supply, marking a $25,000/day fall since early February. For both basins, the $40,000/day level was last seen in early May 2019. The ballast rates in the Atlantic and Pacific were assessed by S&P Global Platts at 50% and 75%, respectively, meaning shipowners are no longer fully compensated for the ballasting portion of a spot voyage. Although the main driver in the fall in charter rates was high spot vessel supply, the cyclical nature of these markets ...

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Affinity Tanker Weekly, 21 February 2020

Another week goes by, and yet again rates on TD3C have barely budgef, still standing at WS 43. Earnings are climbing up towards USD 19,000 per

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