The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to its highest level since September 2019 on Thursday as demand strengthened across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose 145 points, or 6.7%, to 2,323, its highest since Sept. 12, 2019. The capesize index advanced 232 points, or 7.4%, to 3,383, its highest level since Oct. 9, 2020 Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient ...

Tonne mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020. The fall could however have been much worse; In volume terms, seaborne crude oil exports have fallen by 18.8%, to 20.9m tonnes, a 4.8m tonnes decline compared with last year, according to data from the US Census Bureau. While seaborne crude oil exports to all regions have fallen, those to Asia are among the least affected, down just 1.0%, or equivalent to one Aframax ...

Brent crude oil prices are now back to the low $60s and where they were at the end of 2019, before the pandemic hit. Although VLSFO price quotes are not quite back to earlier levels, part of this will be because of the market assessments and initial introduction of the VLSFO grade at end 2019/early 2020; in general terms we are back where we started. After prices more-or-less halved in the first 3 months of 2020, the huge shifts in global oil supply & demand over the past 9-12 months ...

Marine shipping supports over 90 per cent of global trade and one quarter of all Canadian exports and imports, by value, are transported by marine shipping. Billions of tonnes of products are moved by ships that require enormous volumes of fossil fuels, which leaves damaging impacts on global marine ecosystems. NEOLINE, a maritime transport company, has an ambitious vision of seeing wind energy revolutionize the shipping industry. Their ships will use wind as a main propulsion system and measures 136 metres in length with eight sails. On the stern there ...

MABUX World Bunker Index decreased during the week. The 380 HSFO index has decreased from 407.92 USD/MT to 420.77 USD/ MT (+12.85 USD), VLSFO has added 15.16 USD: from 497.76 USD/MT up to 512.92 USD/MT. MGO LS increased by 12.34 USD from 572.70 USD/MT to 585.04 USD/MT. The Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO –increased during the week and averaged 91.79 USD (87.54 USD last week). SS Spread in Rotterdam has decreased during the week from 102.00 USD up to 100.00 USD ...

Global resources company BHP, German shipping company Oldendorff Carriers, and advanced biofuels pioneer GoodFuels, with the support of the Maritime and Port Authority of Singapore (MPA), conducted the first marine biofuel trial involving an ocean-going vessel bunkered in Singapore on 4 April 2021. As part of the trial, the 2020-built 81,290 deadweight tonne dry bulk carrier Kira Oldendorff was refuelled with “drop-in” advanced biofuel blended with conventional fossil fuels. The key objectives of the biofuel bunkering trial include understanding the behaviour of the fuel (such as emissions), assessing engine and ...

Bunker fuel availability is good in most major North American ports, while supply has tightened in certain ports further south such as Rio de Janeiro and Guayaquil. Fuel oil inventories are growing on the US Gulf Coast as refiners have boosted production. Gulf Coast inventories added 872,000 bbls to reach a seven-week high of 18.59 million bbls on 9 April, according to the latest data from the Energy Information Administration (EIA). Refineries along the Gulf Coast boosted their fuel oil output through February and March, with production peaking at 100,000 ...

Ships run round the clock transporting raw commodities and finished goods across the continents. Even in pandemic times, when the entire world was at a standstill, ships ran and kept global supplies uninterrupted. Did we ever wonder who keeps these ships moving? The answer is simple and straightforward: the machinery installed on ships and the seafarers who operate them. An oil tanker takes around 18 days to sail from a load port in Arabian Gulf to a Far East discharge port. It simply means the Main Engine and other auxiliary ...

When a marine casualty occurs, much of the damage – the loss of life, personal injury, property damage and operational disruption – is apparent in tangible form. Other less tangible forms of damage, such as crew stress and trauma and the effects they can have on a return to normal operations, are less visible. As a normal human response to threat, a seafarer who has recently been involved in a frightening, shocking, unexpected negative incident can reasonably expect some fluctuations in their concentration, thinking ability, emotions and behaviour. Feeling anxious, ...

Pavilion Energy Singapore Pte. Ltd. (“Pavilion Energy”) has imported a carbon neutral LNG cargo into Singapore – the first for Singapore and Pavilion Energy. Carbon emissions associated with the LNG cargo from well-to-tank1 including the extraction, production, transportation, and regasification will be offset by retiring a corresponding amount of high-quality carbon credits sourced from its portfolio of carbon offset projects. The carbon credits used for the offset are from Natural Climate Solutions projects certified under the Verified Carbon Standard (VCS) and Climate, Community and Biodiversity Standard (CCB) – Evio Kuinaji ...

A revolutionary new initiative funded by The Seafarers’ Charity will provide access to a range of affordable financial services for fishing families. The Fishing Without a Safety Net research commissioned by the Charity demonstrated that new interventions were needed to create a better financial safety net for fishing families. The first significant solution emerging from the research findings sees Commsave Credit Union open its services to the UK fishing community on 15 April 2021. Commsave Credit Union has been operating for nearly 30 years and has helped its 30,621 members ...

MPC Container Ships ASA (“MPCC” or the “Company”, together with its subsidiaries the “Group”), is pleased to announce its support and membership of the recently launched Eyesea initiative. Eyesea, with the support of the shipping and maritime industry, is developing a maritime pollution reporting and mapping smartphone application through the use of geotagged pictures. CEO Constantin Baack comments in relation to the announcement “The Eyesea app proposes a simple yet effective way for the broader shipping industry to leverage its presence on the world’s oceans to enhance maritime protection and ...

The Nigerian Maritime Administration and Safety Agency (NIMASA) has said it is determined to ensure availability of marine fuels that comply with the regulation by the International Maritime Organisation (IMO) limiting the sulphur in the fuel oil used on board ships to 0.50 per cent m/m (mass by mass). Director-General of NIMASA, Dr. Bashir Jamoh, stated this yesterday in Lagos at the opening of a two-day meeting of the Agency with modular and other refinery operators and fuel oil suppliers in the country. Jamoh, who was represented by Acting Head, ...

NYK and its group company NYK Business Systems (NBS) have developed and implemented a system that assists with the creation of PCTC sailing schedules, thus reducing environmental burden and improving scheduling efficiency. Background Sailing schedules of NYK PCTCs are created after considering several factors, including calling port location, the number of booked units, required arrival dates, and other circumstances such as port congestion and expected weather conditions along the sailing route. However, because vessels call multiple ports to load and discharge vehicles, many manual calculations and much coordination have been ...

Fjord Line is continuing its successful strategic partnership with Telenor Maritime. Today, they are extending the agreement for the entire fleet for onboard mobile services by five new years. It will be five exciting years of developing and enabling new digital technologies, giving the com- pany more business opportunities and better passenger experience on board all four ships included in the agreement. FSTR means faster Speed is a strong competitive factor in the ferry business, as it is in the telecom- munication industry. When Fjord Line soon puts its new ...