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

The Baltic Exchange’s dry bulk sea freight index rose on Tuesday for the fourth consecutive session driven by a jump in the capesize segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 132 points, or 5.8%, to 2,391 – its highest level in one-and-a-half years. The capesize index surged 360 points, or 9.4%, to 4,179 – its highest since May 2022. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, added $2,985 to ...

The ship recycling market has kept its sluggish pace of late. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the sluggish market continues with little activity or hope for some change in the pattern for the remainder of the year. Surprisingly, there was no ‘post’ Diwali boom and in fact, the Indian market opened with a concerning plummet in the domestic steel markets instead of the anticipated jump. Sentiments remained low this week despite the lack of tonnage as there is reportedly little demand locally for the ...

Drewry expects the global pool of shipping containers to contract in both 2023 and 2024. While stubbornly high levels of inflation in many countries is depressing demand, increasing geopolitical instability is affecting investor sentiment, with both factors depressing the growth prospects for world trade. Moreover, shipping lines and lessors, in particular, are ridding themselves of surplus boxes built up in the fleet over the past two years or so, and not replacing equipment being sold into the secondary market. Drewry’s latest report on the container equipment market forecast that the ...

The findings are based on a survey of respondents from across the maritime sector and conducted in association with 15 shipping organisations, spanning ship owners and managers, classification, technology, ports and marine services. With over 2,500 responses, spanning 99 nationalities and six continents, this is a global snapshot of the people that work in the shore-based shipping industry. Women making further progress In 2023, the overall gender split was 52.2% male and 45% female. This is a clear move towards parity from last year when the split was 56.8% male ...

Shipments of liquefied natural gas (LNG) from Australia Pacific LNG have come to a halt after a loaded tanker docked at the site lost power, operator ConocoPhillips COP.N and co-owner Origin Energy ORG.AX said on Tuesday. So far two LNG cargoes have been delayed, and Origin warned “it expected that more LNG cargoes will be deferred”, as the stricken vessel was blocking other tankers from entering the facility on Curtis Island off Australia’s east coast. APLNG, which has a capacity of 9 million metric tons per annum (mtpa) of LNG, ...

The International Seafarers’ Welfare and Assistance Network (ISWAN) reports that demand for its support remained high among seafarers and their families during the last financial year. ISWAN’s annual review, launched today and covering the charity’s activities from 1st April 2022 to 31st March 2023, highlights that although the exceptional stresses experienced during the COVID-19 pandemic have eased, life remains extremely challenging for many seafarers. ISWAN assisted 8,602 seafarers and family members of 98 nationalities (up from 90 in the previous year) in 2022-23 through its free, 24-hour helplines and humanitarian ...

Sub continent pricing and sentiments remain stranded in the low 500s/LDT and for certain units even below, as we meander

Asia’s high sulphur fuel oil (HSFO) market firmed on Tuesday amid market expectations of China resuming more purchases, following the recent release of fresh import quotas. Spot discounts for 380-cst HSFO FO380-SIN-DIF narrowed to $2.59 a barrel, while margins FO380DUBCKMc1 edged higher to discounts of $11.21 a barrel. China has been aggressively importing HSFO barrels in the first half of the year, before pulling back purchases in the third quarter after some refiners ran out of quotas. The new quotas issued on Monday are expected to raise buying again, according ...

NASDAQ-Adv: 2,081 Dec: 2,221 NYSE-Adv: 2,179 Dec: 1,764 (Source: Nasdaq)

The christening and handover ceremony for a liquefied CO2 transportation demonstration test ship was held today, November 28, 2023, at the Shimonoseki Shipyard of Mitsubishi Heavy Industries, Ltd. (Shimonoseki city, Yamaguchi). The construction of the demonstration test ship was completed today, and the ship will transport liquefied CO2 for the CCUS R&D and Demonstration Related Project, the Large- scale CCUS Demonstration in Tomakomai, the Demonstration Project on CO2 Transportation, the R&D and Demonstration Project for the Marine Transportation of CO2 (the “Demonstration Projects”) which are being conducted by NEDO. The ...

MSCI’s global stock index advanced on Tuesday while the dollar fell as a Federal Reserve official signaled that the U.S. central bank was done raising rates and could even consider rate cuts if inflation keeps easing. The U.S. dollar index hit a 3-1/2 month low and was on track for its biggest monthly drop in a year as investors took the view that growth in the world’s largest economy is starting to slow down, with the market starting to price in a rate cut by the first half of the ...

Tankers International, the world’s leading shipping pool for VLCCs, today announced that it will be partnering with the Baltic Exchange to further enhance data sharing and the provision of market insights for its popular VLCC Fixture app. Paid app subscribers will benefit from access to Baltic Exchange benchmarks and forward curves in addition to the current data offering, which includes information on bunker prices, fixing rates, laycan, demurrage and commissions as well as a full breakdown of TCE calculations. Subscribers can also access cargo forecasts and receive real time fixture ...

Singapore VLSFO availability remains very tight in Singapore. Recommended lead times for the grade range up to 15-18 days. Some suppliers can deliver the grade with shorter lead times, but these offers are limited and often priced higher, a source says. Product loading delays persist in oil terminals, which have held up bunker delivery vessels from loading. Terminals have been jammed by several tankers loading and discharging cargoes. Some argue that loading delays have eased a bit, however, loading remains jammed for near dates. At least six bunker suppliers in ...

In Europe, refiners have faced challenges accumulating diesel inventories following the ban on Russian oil products

A newly-minted EU agreement on waste shipments is set to remove a legal roadblock to make it possible for a raft of non-OECD ship recycling yards to be included on an EU-approved list, which would unleash much-needed shipbreaking capacity for a massive wave of tonnage due to be scrapped over the coming years, according to green recycling consultancy Sea Sentinels. The European Parliament and Council have agreed to allow exports of hazardous waste, including that contained in EU-flagged ships, to non-OECD countries provided receiving facilities can document sustainable management and ...