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NASDAQ-Adv: 1,748 Dec: 2,069 NYSE-Adv: 2,166 Dec: 1,877(Source: Nasdaq)

Oil prices fell on Wednesday, pulling back from recent gains, on concerns that rising global COVID-19 will hamper global fuel demand. The market did find some support from weekly inventory figures that showed a drop in crude inventories and rising refinery production. Brent crude prices settled at $56.06 a barrel, down 52 cents, or 0.9%. U.S. West Texas Intermediate (WTI) settled at $52.91 a barrel, falling 30 cents, or 0.6%. Fuel demand has rebounded from last spring’s shock falloff as the COVID-19 pandemic worsened, but governments continue to place restrictions ...

The dollar edged higher across the board on Monday, extending a rebound from the near three-year low hit last week, taking strength from the recent spike in Treasury yields and the prospect of a growth boost from higher U.S. fiscal stimulus. Democratic U.S. President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised “trillions” in extra pandemic-relief spending. Ordinarily, the extra spending plans would prompt investors to worry about rising inflation and its detrimental effect on the U.S. dollar in ...

BF closed between 1130-1136yuan/mt in Tangshan dropping around 5-15yuan/mt over yesterday. Mill demand was particularly weak today. According to

The Panama Ship Registry has reached 230,577,081 GT with 8,516 vessels, a growth of 6.22% compared to 217,083,822 GT at December 2019, according to IHS MARKIT. It is the first time, the Panamanian flag has attained the 230M GT mark and the best growth [6.22%] since the end of 2011, “figures which make us very proud,” said Rafael Cigarruista, director of the Panama Ship Registry. The Register has introduced last year, a series of improvements including a complete reengineering with market analyses and the introduction of electronic documents for greater ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) increased on Jan.12: 380 HSFO – USD/MT – 362.23 (+2.57) VLSFO – USD/MT – 452.00 (+5.00) MGO – USD/MT – 505.44 (+2.44) Correlation between the Market Bunker Price Index () vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Jan.12 showed undercharging of 380 HSFO bunker grades in Singapore (-7 USD), Fujairah (-1 USD) and overcharging in Houston (+16 USD). In Rotterdam the MBP cost ...

Sea freight on the China-Brazil route has soared and reached an unprecedented US$ 10,000 per TEU, according to importers and shipping companies operating in the port of Santos. ”It is a record high; I had never seen freight reach that amount,” said Luigi Ferrini, Senior Vice President of Hapag-Lloyd in Brazil. A year ago, the cost of this same route was in the range of US$ 2,000 per TEU. According to Rafael Dantas, director of the importer Asia Shipping, the increase in freight costs has increased since October, with the ...

LR has named the industry experts who have joined the advisory panel of its Maritime Decarbonisation Hub and will ensure that the Hub fulfils its mission of providing the right level of insight, collaboration and leadership to support the shipping industry address its decarbonisation challenges. The panel is made up of representatives from across the industry and includes: • Ole Graa Jakobsen – VP Head of Fleet Technology at AP Moller-Maersk • Tom Strang – Senior Vice President, Maritime Affairs at Carnival Maritime • Aoife O’Leary – Director at Environmental ...

The Isle of Man Ship Registry has formally launched the first ever seafarer welfare app designed by a flag state. Isle of Man Ship Registry director Cameron Mitchell said the app, named ‘Crew Matters’, has been developed in partnership with Liverpool-based training company Tapiit Live and is the most advanced of its kind ever produced for seafarers. He said the app has just gone live and is available to around 10,000 seafarers sailing on more than 400 vessels under the Isle of Man flag. The launch is particularly timely as ...

Vessels worldwide are now facing compliance with IMO 2021 cyber security regulations. These are the first of what could be additional cyber security regulations for regulated vessels and facilities. International Maritime Security Associates (IMSA), the developers of the award-winning ARMS software platform, have developed a suite of cyber security tools and services for the maritime industry. The company has recently launched the capability to conduct basic shipboard network vulnerability assessments without sending personnel onboard. “This capability is necessary in today’s current COVID environment.” Comments Corey Ranslem, CEO of IMSA. “We ...

“Our vision is to help create a sustainable future for shipping founded on safety and environmental consciousness. Our new Carbon Intensity Monitoring (CIM) service is an integral part of that journey and promises to make a huge difference in reliable CO2 reporting and regulatory compliance,” says Weathernews Americas CEO Antonio Brizzo. International shipping carries around 90% of world trade by volume, but as a major source of greenhouse gas (GHG) emissions it remains a major sustainability issue for global supply chains. Emissions from shipping rose by nearly 10% between 2012 ...

NYK will participate in the design, development and engineering work of a floating LNG storage and regasification power generation facility (FSRP)* planned near Lae, the capital of Morobe province in Papua New Guinea (PNG), together with the Chiyoda Corporation and Moss Maritime AS, a Norwegian company. This design, development and engineering work contract was received by the Chiyoda Corporation from Kumul Petroleum Holdings Limited, a national oil company in Papua New Guinea. This project is an important step toward meeting the supply and demand requirement set out in the PNG ...

Worsening ice conditions at China’s northern ports could disrupt shipping activity and cargo deliveries, at a time when the region is experiencing fuel shortages due to record low temperatures. “Owing to the recent low temperature in Northern China since the end of December 2020, the ice condition in Bohai and Huanghai sea area has been developing quickly,” Oasis P&I Club said in a notification dated Jan. 8. “According to the current forecast, in the following week (of Jan. 11), the ice condition will further develop, and the floating ice will ...

Kalmar, part of Cargotec, and Nokia, today announced that they will expand their ongoing collaboration to provide new solutions for ports and intermodal terminal operators seeking to automate operations and achieve greater productivity. Nokia and Kalmar will combine their communications and cargo handling technology expertise in new joint go-to-market ventures, integrated solutions development and research collaboration. Jochen Apel, Vice President Transportation, Logistics and Manufacturing, Nokia Cloud and Network Services, said: “This venture builds on our existing business relationship with Kalmar. Nokia is now bringing a range of digitalisation offerings to ...

The scarcity of on-the-water LNG cargoes heading to Asia and a constriction in supply for loading in late January meant that buyers of prompt deliveries have been left with a dearth of options during the week of Jan. 12, according to industry participants and vessel-tracking data. This comes even as bids for early February deliveries surged past $30/MMBtu, leaving end-users across Northeast Asia grappling with low inventory due to a cold snap that has spiked heating demand and depleted inventories to critical levels. On Jan. 11, Platts had assessed the ...