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Growth among British businesses last month was a touch stronger than originally thought but there were further signs of how surging inflation is dragging on new orders, raising fears of a recession, a survey showed on Tuesday. The composite S&P Global/CIPS Purchasing Managers Index – spanning services and manufacturing firms – edged up to 53.7 from a preliminary June reading of 53.1 and was higher than in May when it also came in at 53.1. A PMI for just the service sector similarly rose to 54.3 from the “flash” reading ...

Against the headwinds from COVID-19 resurgences and external complexity, northeast China’s Dalian, a port city in Liaoning Province, has sped up efforts to prop up foreign trade. In early June, the port’s operating company opened its first container line linking Europe with Japan. The tailor-made route combines a China-Europe freight train service with a near-sea shipping line, which reduces the travel time by two-thirds while keeping the costs unchanged. Liaoning Port Group has been continuously improving the China-Europe freight train service. In the first five months of the year, a ...

Top bankers in Germany voiced concerns on Monday about risks facing Europe’s largest economy as worries grow about a looming gas crisis. Germany, which is largely dependent on Russian gas to fuel its export-led economy, is bracing for a possible total halt in Russian supplies if Moscow steps up its use of gas as an economic weapon against the West during the conflict in Ukraine. The gas issue has both contributed to and come on top of soaring inflation rates of 8%. Christian Sewing, chief executive of Deutsche Bank (ETR:DBKGn), ...

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a near 12-week low on Tuesday, with all three of its component indexes hitting multi-month lows. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 61 points, or over 2.8%, to 2,098 points, its lowest since April 13. The capesize index slipped 144 points, or nearly 6.5%, to 2,084 points, its lowest in more than 10 weeks. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such ...

Ecochlor, one of the leading companies in the area of Ballast Water Treatment Systems is looking to capitalize on the success and appeal of its existing product offerings, by developing and venturing into new parts of the market, especially in the field of lower ships’ emissions and fuel consumption in cost-effective ways. Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), discussed the company’s plans with Mr. Andrew Marshall CEO of Ecochlor, in a sitting, during the recent Posidonia Exhibition. Ecochlor is among the leading companies in the field of Ballast Water Treatment Systems. ...

June has been earmarked by some as the time when container markets have finally come under genuine pressure, with the FBX Global Average dropping down -8.63% since the start of the month. The big driver for forward market prices was supposed to be linked to the reopening of Shanghai, a price bump that has failed to materialise. On 8 June, The Port of Shanghai had already reported it had recovered up to 90% of its pre-Lockdown volumes, and the return of what was a reported backlog of up to 260,000 ...

The International Bunker Industry Association (IBIA), with support from BIMCO, launched an extensive online survey in February 2022 to identify to which extent the maritime industry stakeholders believe there is a need for a wider adoption of bunker licensing schemes, mass flow metering (MFM) and transparency to improve market conditions. The answer – for the most part – is yes. When the survey closed at the end of March, 189 respondents had participated and shared their experiences and opinions. The survey questions were carefully crafted by the IBIA Bunker Licensing ...

“ It is good that I make you build, of this ship which shall sail on the sea, the hull, the decks and the mast, and then on a sunny day, like on a wedding day, I have you dress her of sails and gift her to the sea.” Whether it is, as for Antoine de Saint-Exupéry, a result of one’s poetic nature, or for more prosaic purposes, there are a variety of reasons for ordering new vessels. Some shipowners do so to satisfy their specific trading needs or to ...

Demurrage and Detention (D&D) charges imposed on the US shippers by container lines continue to be the most expensive in the world and have increased this year even as global average fees have fallen from the record highs of 2021, according to Container xChange, the world’s leading online platform for the leasing and trading of shipping containers. Container xChange’s Demurrage & Detention Benchmark 2022 report, published today, ranks the most expensive global ports for D&D charges (see definitions below) levied by container lines on customers two weeks after a cargo ...

Classification society DNV presented Arcadia Shipmanagement Co Ltd. with a certificate recognizing their vessel Aegean Myth as the first vessel globally to have a SEEMP III manual. The Ship Operational Carbon Intensity Plan or SEEMP Part III, is part of IMO’s strategy to reduce shipping’s greenhouse gas (GHG) emissions and a verified SEEMP Part III must be kept on board from 1 January 2023. The SEEMP Part III, or Ship Operational Carbon Intensity Plan, was finalized with the latest amendments to MARPOL Annex VI and the associated Guidelines at MEPC ...

The European Commission is planning measures to attract 45 billion euros ($47 billion) in private funding for “deep-tech” start-ups, those based on significant scientific or engineering advances, an EU policy document seen by Reuters showed. A new Listings Act planned for later this year will also cut the cost of stock market flotations for the firms, the document, A New European Innovation Agenda, added. The proposals, which the EU executive is expected to announce at a press conference on innovation at 1330 GMT on Tuesday, aim to help the 27-country ...

The U.S. Navy will for the first time reward individuals for providing information that leads to the seizure of illicit cargos such as illegal weapons or narcotics in waters across the Middle East, it said on Tuesday. The U.S. Naval Forces Central Command (NAVCENT), which is headquartered in Bahrain and covers strategic waterways such the Suez Canal and Strait of Hormuz, said the rewards could be in cash or items such as boats. “NAVCENT could potentially reward a maximum $100,000 payout for information or non-lethal assistance that supports counterterrorism operations ...

Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022

Allied Shipbroking – Weekly SnP Statistics Report Week 26 2022

Benefitting from dramatically reduced emissions, the two new-build ships will replace three of North Sea Container Line’s (NCL) current diesel-powered vessels, which will be phased out of operations. Technical management will be done by Wilhelmsen Ahrenkiel Ship Management, making them one of the first ship managers to gain experience and competence into the use of methanol as fuel on container ships. By using the best available technology, Topeka’s ambition is to decarbonise shipping. The two new vessels will run on methanol, which is regarded as the best solution in this ...