China’s coastal bulk freight index went up 6.4 percent month on month in November, data from the Shanghai Shipping Exchange (SSE) showed. Last month, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, stood at 1,014.63, according to the SSE. During this period, the sub-index for coal logged the most notable month-on-month increase of 9.4 percent, followed by that for grain and metal ore. The sub-index for crude oil edged up 1.8 percent from the previous month, while the figure for refined oil ...

Maersk teams are keeping a very close eye on the situation in and around the Red Sea and continuing to draw up mitigation plans for any affected vessels that require diversion. We will be reaching out to all affected customers directly to discuss options and new delivery schedules for their cargo as soon as possible. Ports in Israel continue to operate as normal and bookings to and from the country continue to be accepted. In the south of Europe, Hub terminals are performing stably with good operational outcomes. In West ...

CYTUR Inc., a company that specializes in marine mobility cybersecurity (including smart and autonomous ships) successfully promoted the Smart Ship Cybersecurity Demonstration Project in 2023 with funding from the Ministry of Science and ICT and the KISA (Korea Internet & Security Agency). Shipbuilders, ship suppliers, and academic and industrial experts in the information security industry participated in the project and evaluated the results to be the best practices for the preparation of cybersecurity regulations for the International Association of Classification Societies (IACS) and Unified Requirements (UR) E26 and E27. The ...

Herbert Darwin Mangatas, director of PT Gapura Segara Borneo, an Indonesian freight shipping agency, came to China’s Tianjin in search of potential business partners. “There are one or two Chinese companies asking for some collaborations. I hope we can have some dealings,” Mangatas said while attending the Tianjin International Shipping Industry Expo 2023. Themed “Shipping throughout the world, leading the future”, the expo was held in Tianjin from Nov 16 to 18 with the aim of promoting the development of the global shipping industry and marine economy. As the first ...

A new project is set to develop a training framework to equip seafarers with skills as shipping transitions to zero greenhouse gas emissions. The Project will work to prepare seafarers for zero or near-zero emissions ships, helping the global shipping industry to decarbonize and ensuring a just transition for seafarers. The aim is to equip seafarers with skills and provide guidance for trainers and the industry. The World Maritime University (WMU), an IMO global research, education and training institute based in Malmö, Sweden, and Lloyd’s Register will develop two training ...

China’s export container shipping index increased in the week ending Dec. 8, according to the Shanghai Shipping Exchange (SSE). The SSE added that the average China Containerized Freight Index (CCFI) rose 0.1 percent from the previous week to 858.40. The sub-index for the Japan service registered the biggest week-on-week rise of 2.2 percent. The sub-reading for the West East Africa service logged the sharpest decrease of 4.8 percent from a week earlier. The CCFI tracks spot and contractual freight rates at Chinese container ports for 12 shipping routes globally, based ...

LPG and other vessels owned by at least two Israel-linked shipping companies — Zodiac Maritime and Eastern Pacific Shipping — have been advised by insurance firms and maritime agencies to avoid transits via the Red Sea or take precautions while transiting, following the recent spate of attacks by Yemen’s Houthi rebels on ships plying the vital shipping route, according to industry sources. The impact on wider LPG freight rates and cargo markets has been muted as attacks have been limited to Israel-linked vessels, freight markets are subdued and LPG demand ...

The past month has not brought any stabilisation to the container shipping market. From a demand perspective, data from Container Trade Statistics showed an uptick in demand growth as TEU*Miles globally grew 16% year-on-year. However, a large part of this seemingly high growth was due to a comparison with very poor performance a year prior. Compared to 2019, global demand in TEU*Miles is up a total of 7.3%, which is just 1.8% annual average growth and nowhere near sufficient to match capacity growth. Carriers have been increasing their usage of ...

Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online (www.shipbid.net) from 14:00 to 14:30 (Beijing time) on December 20th, 2023. 1. Bidding Object: MV “JING HUA 107”, Bulk Carrier; PoR: Yangpu, China; Inspection Authority: CCS; Trading Area: offshore; LOA: 159.25m; MLB: 24.00m; MLD: 13.00m; DWCC: 20743t @ 9.40m draft; GRT: 13849; NRT: 7755; M/E: Shaanxi Diesel Heavy Industry 8PC2-6/2L，4400kW@520rpm x 1 set; Built : December 19th, 2007; Builder: Ningbo Dongfang Shipyard Co, Ltd; (Data and relevant information provided in this announcement are for reference ...

As tankers, car-carriers and other merchant vessels pass through the Malacca Strait, unlit fishing boats criss-cross the shipping lanes at night, making it one of the most challenging sea areas of the world to transit, even during peacetime. Should a major war ever come to Asia, those challenges could be magnified spectacularly, with hundreds of vessels abruptly leaving the international waters in the middle of the Strait for what they hope might be the relative safety of the national territorial waters of nearby neutral nations. The Strait – between Thailand, ...

Capesize The Capesize market faced a challenging week characterised by significant fluctuations. The week began positively with a robust increase in the BCI 5TC, reaching $54,584, driven by active engagement in the Pacific. However, profit-taking in the FFA market late on Tuesday triggered unease, leading to a decline in rates. Throughout the week, the Cape market experienced a downward trend, with the BCI 5TC dropping to $34,854 by Thursday, reflecting a substantial decline. The Pacific market remained sluggish, marked by a persistent lack of major players on C5, contributing to ...

In the context of COP28, the question of national, economy-wide climate action is again in the spotlight. Yet while shipping is clearly a fundamental part of national economies, most national climate plans given to the UNFCCC still do not include action on each country’s share of shipping emissions. Meanwhile, as the EU’s climate laws have shown, regional and national policy is key to chart a course for sustainable shipping worldwide. Building on our analysis from COP27, this paper looks into depth at the policy measures available to address shipping emissions ...

Clean LR2 LRs in the MEG saw activity levels pick up this week and freight resurged optimistically. The 75Kt MEG/Japan TC1 index gained 19.17 points to end up at WS130.56. The 90kt MEG/UK-Continent TC20 run to the UK-Continent also climbed $375,000 to $3.56m. West of Suez, Mediterranean/East LR2’s on TC15 held resolute at $3.4m all week and the TCE hovered over the $10,000/day Baltic round trip at time of writing. LR1 In the MEG, LR1s also saw a welcome uptick in their value this week similar to their larger siblings. ...

As diplomats convene at the United Nations’ COP 28 climate change summit, fossil fuel production and consumption are hitting new highs, and tanker owners are in prime position to profit from rising trade flows. The Biden administration is a leading proponent of decarbonization, yet the U.S. is pumping out record volumes of hydrocarbons. America is on track to be the world’s largest producer and exporter of natural gas this year, as well as the leading exporter of refined products and liquefied petroleum gas. There are also big wins — for ...

Container lines may need to hike freight rates by up to $450/TEU in deepsea trade to cover additional expenses arising from decarbonizing their maritime operations with low-carbon fuels, according to a study by consultancy UMAS published Dec. 7. With pressure from regulators and some eco-conscious customers, a growing number of shipping companies have been seeking to switch to alternatives to conventional oil-based fuels to reduce greenhouse gas emissions. But the low-carbon transition requires extra investments in new propulsion systems and “green” fuels, and the UMAS study finds additional costs in ...