The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, inched lower for a second consecutive session on Wednesday, dragged down by weaker rates across all vessels. The index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 17 points at 1,063 points. The capesize index fell 23 points to 1,581 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $191 to $13,109. Iron ore futures extended gains, ...

As the new year begins, Mette Frederiksen, Head of Research & Insight at Tankers International, shares her perspective on the 2024 market, leveraging insights from the pool’s proprietary fixture data. She also explores how oil and freight dynamics have reshaped the VLCC market over the past year, with predictions for 2025. Reflecting on 2024 At the start of 2024, the global shipping industry saw encouraging signs and was optimistic about the year ahead. Key forecasting agencies projected strong oil demand growth, driven primarily by China and other nations East of ...

Since its establishment in 2000, Seaspan has become one of the world’s leading container-shipping companies. In our interview, former CCO Peter Curtis, a key figure from the start, reflects on key transformations in the maritime industry during this time. He also looks ahead to a future which will be dominated by the question of decarbonization. Following an extensive career in the maritime industry, what do you think have been the biggest changes since you started in the 1980s? Over the years I’ve seen huge changes in the industry. Apart from ...

East of Suez VLCC rates jumped as the US crackdown on “shadow fleet” tankers carrying sanctioned oil from Russia and Iran prompted shipowners to seize the opportunity to capitalize on China’s and India’s demand for unsanctioned crude. Platts, part of S&P Global Commodity Insights, assessed the freight rate for the 270,000 mt Persian Gulf-China route at w65 on Jan. 14, equivalent to $14.35 for moving 1 mt of crude oil from the Persian Gulf to China. The rate has soared 52.9% from w42.25 on the first trading day of 2025, ...

Nearly 500,000 metric tons of Russian oil products are trapped on tankers hit by U.S. sanctions, LSEG data showed on Wednesday. On Jan. 10, new Russia-related sanctions targeted more than 180 vessels and insurance companies, adding to the impact of similar restrictions imposed by United Kingdom and Europe Union. The vessels under the latest U.S. sanctions include nine tankers that loaded oil products at Russian Baltic and Black Sea ports in December and January. Four of them – Cup, Aquatica, Turaco and Onyx – are carrying in total around 280,000 ...

Leading UK independent freight forwarding group, Davies Turner has appointed Guillaume Bouyer as head of strategic accounts – ISC & South East Asia within its oceanfreight forwarding department. Bouyer joins a team of three other heads of trade each focussed on different regions served by Davies Turner’s comprehensive portfolio of international oceanfreight operations including LCL and FCL import and export services. The other three heads of trade cover Africa and the Americas; Asia LCL Imports & China Rail; and East Asia, respectively, all reporting to oceanfreight director, Tony Cole. The ...

The safety risks posed by unregulated oil tankers are rising, and the so-called shadow fleet is a threat to both the maritime environment and seafarers, the head of the United Nations’ shipping agency said on Tuesday. The shadow fleet refers to hundreds of ships used by Russia to move oil, in violation of international restrictions imposed on it over the Ukraine war, as well as by oil exporters such as Iran and Venezuela hit by US sanctions. At least 65 oil tankers dropped anchor this week at multiple locations, including ...

Spot premiums for fuel oil inched further up on Wednesday, while the market expects volatile trading to persist for high sulphur fuel oil (HSFO). The impact of the latest sanctions was not immediately clear on Russian supply flows, several traders said, with more clarity expected into February. There will likely be more support for prices and premiums of unsanctioned HSFO barrels, though overall benchmark gains appear capped as inventories in Asia remained high in the near term. Margins for 380-cst HSFO retreated day-on-day at discounts of about $5.50 per barrel, ...

Risk Manager FuelEU helps users understand their compliance status and manage their FuelEU strategy. Lloyd’s Register OneOcean (LR OneOcean) has launched Risk Manager FuelEU, an innovative module designed to enable ship managers, owners, operators, and charterers to seamlessly manage their FuelEU compliance and strategy within a single platform. The Risk Manager FuelEU module, alongside Risk Manager’s existing EU ETS module, allows users to simulate, plan, and monitor their compliance with the EU’s FuelEU Maritime Regulation and EU ETS requirements. By integrating these capabilities, Risk Manager offers a comprehensive solution to ...

Uni-Fuels Holdings Limited, a global provider of marine fuel solutions for shipping companies headquartered in Singapore, announced today the pricing of its underwritten initial public offering (the “Offering”) of 2,100,000 Class A Ordinary Shares at a public offering price of $4.00 per share, for total gross proceeds of $8.4 million to the Company, before underwriting discounts and commissions. All of the Class A Ordinary Shares are being offered by Uni-Fuels. The Class A Ordinary Shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “UFG” ...

Klaveness Combination Carriers’ (“KCC” or the “Company”) preliminary CABU and CLEANBU TCE earnings for Q4 2024 ended at $/day 28,988 and $/day 28,027, respectively. Fleet average TCE earnings for the quarter ended at $/day 28,527 approximately $/day 1,700 lower than the mid-point of the guiding range ($/day 29,500-31,000) and approximately $/day 5,500 lower than in Q3 2024. CABU TCE earnings for Q4 2024 were approximately $/day 500 above the mid-point of the guiding range mainly due to more capacity in caustic soda trades supported by a tight contract schedule through ...

BASS Software has launched BASSnet Web 3.0, the cutting-edge web solution designed to transform ship management operations. By transitioning to a scalable, web service and cloud-based web architecture, BASSnet Web paves the way for unmatched operational efficiency and modernisation. “BASSnet Web 3.0 represents the future of ship management, offering the latest in web-based technology,” says Per Steinar Upsaker, CEO & Managing Director at BASS Software. “We are proud to deliver a modern, intuitive, and powerful platform that enables our customers to navigate today’s challenges while preparing for the future.” BASSnet ...

Black mold, a silent yet severe health hazard, poses a significant risk to crew and passengers onboard superyachts and cruise ships. Known scientifically as Stachybotrys chartarum, this toxic fungus thrives in the damp, humid environments common to vessels, leading to respiratory issues, allergic reactions, and even long-term health complications. If left unchecked, mold infestations can compromise not only health but also operational safety, making it imperative to address the problem with urgency. VIKAND, a global leader in maritime health and sanitation solutions, has developed a groundbreaking answer to this pressing ...

Northwest Europe The ARA’s HSFO supplies have remained unchanged since last week, with slight tightness for very prompt deliveries. Suppliers are able to provide the grade with a lead time of 5-7 days, a trader said. VLSFO and LSMGO grades are well-stocked in the ARA and seeing an uptick in demand, according to a source. A trader advises lead times of around 3-5 days for both grades. The ARA’s independently held fuel oil stocks have increased by 9% so far this month compared to December, according to Insights Global data. ...

As global demand for crude oil continues, ship-to-ship (STS) transfer operations remain an essential link in the energy supply chain and associated industries. These operations do however present unique challenges, including the potential for spills and physical risk to personnel during transfer as well as damage to the transfer equipment itself. Whilst such risks to the crew, environment and equipment assets have always existed and been managed within the framework of OCIMF guidelines, the global STS market has expanded significantly over the course of this century. New offshore locations and ...