Pacific International Lines (PIL) is partnering with WaveBL, a leading provider of digital trade solutions, to provide a wider range of electronic Bill of Lading (eBL) solutions to its customers. With a user-friendly interface, the proven eBL solution will significantly improve the ease, security, efficiency, and sustainability of PIL’s trade documentation process. It will provide a fuss-free experience for customers who will not be required to pre-register, making it a seamless transition to using eBL for shipments. A unique feature of the eBL allows the shipper to be on the ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was down on Wednesday for the fourth straight session, tracking a fall in rates for the large capesize shipping vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 5 points, or 0.3%, to 1,864, hitting its lowest level since June 12. The capesize index fell 51 points, or 1.8%, to 2,803, its lowest level in six weeks. Average daily earnings for capesize vessels, which typically transport 150,000-ton ...

Since the beginning of the year, the capacity of the container ship fleet has increased by 1.6m TEU. Compared to one year ago, the capacity has risen 11% to 29.5m TEU, the fastest fleet growth in 15 years,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO. During the first half of 2024, the delivery of new ships reached a new high. A total of 264 ships with a combined capacity of 1.6m TEU have been delivered from shipyards, two thirds more than during the first half of last year when ...

Global coal demand is set to remain broadly unchanged in both 2024 and 2025 as surging electricity demand in some major economies offsets the impacts of a gradual recovery in hydropower and the rapid expansion of solar and wind, according to the IEA’s latest update on coal market trends worldwide. The world’s use of coal rose by 2.6% in 2023 to reach an all-time high, driven by strong growth in China and India, the two largest coal consumers globally, the IEA’s Coal Mid-Year Update finds. While coal demand grew in ...

As of 22nd July, Europe’s seaborne crude/condensate imports in July (days 1-31) are observed at 10.5mbd, the lowest level since October 2021. It represents a 100kbd m-o-m decline and 1mbd y-o-y decline. This decline in crude import demand comes at a time where imports would be expected to be higher in the year, given its the summer season (peak demand). Europe averaged 11.3mbd in seaborne crude imports across July 2021, July 2022 and July 2023, highlighting that Europe’s current imports are 800kbd below that reference. One factor driving this decline ...

Container xChange released its latest monthly China market update, revealing that the average container prices in China have held steady in July for the first time in 2024. While the average container prices (for container trading) in China stabilize this month, the average leasing rates from China to the US and China to Europe continue to surge in July. “The recent volume increase and subsequent container price hikes, was primarily driven by the pulling forward of orders, raising questions about the strength of underlying demand. If this demand proves to ...

Spot fuel oil premiums extended gains in Asia on Wednesday, backed by strength in the derivatives market where buying activity gathered pace and led to a firmer market structure, trade sources said. The backwardation spreads for prompt trading months widened for key fuel oil grades, based on data from LSEG as well as market sources. The strength in the derivatives market was largely driven by firmer buying activity from a major trading house, said sources. Refining margins also rose day-on-day, with 380-cst high sulphur fuel oil cracks hitting discounts of ...

The renewal of the Panama merchant fleet is one of the quality objectives of the Panama Maritime Authority (PMA), which is why the entry of vessels under 15 years of age to the Panama Ship Registry is being prioritized. As a result, 57% of ships registered in 2024 have an average age of four years. These vessels come mainly from the Asian market, a region in which the Panamanian Registry has technical offices (Japan, Singapore, South Korea, China, Hong Kong and the Philippines). Among the strategies to improve the PMA ...

On July 8, NYK Bulkship (Atlantic) N.V. (Head Office: Antwerp, Belgium; “NBAtlantic”), an NYK Group company, installed two wind-assisted ship-propulsion units on the bulk carrier NBA Magritte at the port of Rotterdam, the Netherlands, which is engaged in a long-term charter contract with Cargill (USA). This is the first time a unit of this type has been installed on an NYK Group vessel. Sitting on a 20-foot-long (approximately 6-meter) flat rack container with no walls, VentoFoil has a 16-meter vertical wing that acts as suction sail* which expects about 5 ...

Northwest Europe Prompt LSMGO and VLSFO availability have tightened in the ARA hub because of bunker barge loading delays at some oil terminals. Some barges are experiencing delays in loading products from oil terminals, a trader said. This has resulted in product shortages for some suppliers. Recommended lead times for both grades have increased from last week’s 3–5 days to 4–6 days now. Prompt HSFO supply has been tight for the third consecutive week in the ARA hub. Some sources said that shortages in HSFO supply have also resulted from ...

The British International Freight Association (BIFA) used the latest episode in its 2024 webinar series to deliver some key advice on the subject of safety in the container shipping environment. Keynote speaker at the webinar was Mike Yarwood, managing director of loss prevention at TT Club, a global leader in providing insurance and risk management services to the international transport and logistics industry. He was supported by Robert Windsor, BIFA’s member policy & compliance director, with responsibility for advice and information on maritime, road and dangerous goods, BIFA Standard Trading ...

Technology group Wärtsilä will supply a hybrid-electric propulsion system for an 11,000 dwt Limestone Carrier. The vessel was contracted by Montreal-based CSL Group (“CSL”) with CCCC Shanghai Equipment Engineering and Jingjiang Nanyang Shipbuilding. The order with Wärtsilä was booked in Q1 2024. The order reflects CSL’s focus on reducing its emissions profile via a comprehensive decarbonisation strategy. Wärtsilä has been closely involved in developing the concept for the hybrid-electric propulsion system selected to optimise the engine and battery loading for the ship’s operating conditions. The system will provide redundancy when ...

WaveBL, a leading provider of digital trade solutions, proudly announces a strategic partnership with Pacific International Lines (PIL), one of Asia’s foremost innovative shipping companies. PIL’s integration into the WaveBL Network marks a significant milestone in advancing digitization within the global shipping industry. By joining the WaveBL Network, PIL reinforces its commitment to driving connectivity and efficiency across its global operations and enhancing customer satisfaction. The partnership leverages WaveBL’s proven electronic Bill of Lading (eBL) solution, improving security, efficiency, and sustainability in PIL’s trade documentation processes, providing a seamless and ...

Smart Ship Hub Digital (SSH), the fast-growing maritime digital platform for ship owners, operators, charterers and insurers, is delighted to announce the appointment of Uday Bhaskarwar as its Chief Growth Officer (CGO). Uday brings a wealth of experience in driving growth and operational efficiency, honed through senior leadership roles at global technology firms and successful startups. As CGO, Uday will leverage his expertise to fuel SSH’s organic and inorganic growth strategies, providing the strategic vision and leadership needed to propel the company forward. SSH has recently achieved remarkable growth, attracting ...

Ship owner Hafnia, operator of the Hafnia Nile oil tanker, is in discussion with Singapore’s Maritime and Port Authority (MPA) about transferring the damaged ship’s cargo of naphtha to a safe location, the MPA said on Wednesday. The Singapore-flagged tanker Hafnia Nile and the Sao Tome and Principe-flagged tanker Ceres I collided and caught fire on July 19. The MPA also said it had been informed by Hafnia on July 23 of light oil sheens visible near the Hafnia Nile. The Hafnia Nile is currently about 100 kilometres from Singapore, ...