Pest-resistant container design took centre stage at a meeting between specialists from the global container shipping industry and biosecurity experts, aiming to address the $423 billion global challenge posed by invasive pests every year. Attendees at The International Symposium on Optimising Container Design to Mitigate Risks of Pest Contamination included representatives from major carriers, leasing companies, container manufacturers, biosecurity experts, and plant health stakeholders. “Container design has historically focused on production efficiency and durability, but in a global supply chain we must also prioritize pest resistance,” said Mike Downes, senior ...

Avance Gas Holding Ltd. refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (“BW LPG” or “Buyer”) for $1,050 million. Today Avance Gas announces the sixth VLGC delivery, the 2023-built dual-fuel vessel Avance Rigel. In connection with the delivery, 2.141 million shares in BW LPG were issued by the Buyer to Avance Gas. The ship mortgage has been repaid and Avance Gas expects to receive net cash proceeds of $30 million. Following the delivery, Avance Gas owns 9.641 million shares ...

Watson Farley & Williams (“WFW”) advised Globus Maritime Limited (“Globus”) on their US$28m sale and leaseback of newbuild bulk carrier m.v GLBS MIGHT with a Japanese leasing house. This is Globus’ first sale and leaseback transaction, with the US$28m being made available under a ten-year capital sale & leaseback arrangement. Athens based Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide with a current fleet of eight dry bulk vessels comprising four Kamsarmax, one Supramax and three Ultramax vessels. It is listed on the Nasdaq ...

India will soon emerge as the world leader in the maritime sector as it multiplies its cargo handling capacity in ports and builds a robust shipping building and repairs ecosystem said Union Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal. Speaking at the silver jubilee celebrations of the Kamarajar Port trust in Chennai today he said by 2047, India will be among the top ten maritime nations in the world. He said the port marked a significant step in decongesting Chennai Port by fostering efficient coal handling with possibilities ...

Had he continued working aboard fuel-powered cargo ships, Yann Jourdan reckons he’d be earning perhaps four times what he now gets as captain of a sailboat that instead uses the wind’s clean energy to transport goods across the Atlantic. But the hit to Jourdan’s pay is buying him peace of mind. When his 3-year-old son, Marcel, grows up, the burly French mariner wants to be able to explain what he did to make a dent in the the shipping industry’s huge carbon footprint. The international merchant fleet of more than ...

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a seven-session losing streak on Friday, supported by gains in larger vessels. The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 7 points to 1,167 points, but the index was down over 13% for the week. The capesize index edged up 5 points to 1,535 points. The contract posted about 28% decline for the week. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such ...

EU iron ore imports have risen so far in 2024. In its latest weekly report, shipbroker Banchero Costa said that “2023 was a very positive year for global iron ore trade. In Jan-Dec 2023, global loadings of iron ore increased by +5.1% y-o-y to 1,631.9 mln tonnes, from 1,552.2 in the same period of 2022, based on AXS Marine vessel tracking data. The trend remained positive in JanOct 2024, with loadings growing by +3.0% y-o-y to 1383.2 mln tonnes. Exports from Australia increased marginally by +0.9% y-o-y in Jan-Oct 2024 ...

According to a new DNV white paper outlining FuelEU Maritime requirements and compliance strategies for shipowners, compliance with the upcoming regulations will be expensive but applying certain strategies can significantly reduce the cost. Effective from 1 January 2025, the rules mandate stringent greenhouse gas (GHG) emission intensity requirements for ships over 5,000 gross tonnage (GT) transporting cargo or passengers for commercial purposes in the EU/ EEA. GHG emissions are calculated from a well-to-wake perspective. In addition to emissions from onboard combustion, this calculation also includes emissions related to the extraction, ...

The chemical tanker market, once a niche sector, has matured into a mainstream industry, marked by increasing commoditisation, larger parcel sizes, and greater trader activity. This transformation has led to a growing demand for benchmarking tools, culminating in the launch of new chemical and vegetable oil indexes by the Baltic Exchange. Mark Roberts, group COO at SPI Marine, founder and chair at Delphi Vision, and CEO at CKB Fleet, highlighted the interplay of factors shaping the chemical tanker market at a Baltic Exchange Tanker Forum in November. On the demand ...

Container freight rates from the Indian subcontinent to West Africa have risen amid the movement of rice in large volumes over this route since mid-November, sources told S&P Global Commodity Insights. Sources added the stronger rates are likely to continue till January 2025 and may lead to a shift to bulk shipments from containers. “Container freight rates from [the Indian] east coast to West African markets such as Cotonou rose 22% in November from October,” according to a source. Freight rates to West African destinations from the Indian port of ...

Drewry’s World Container Index increased 6% to $3,533 per 40ft container this week. Our detailed assessment for Thursday, 05 December 2024 The Drewry WCI composite index increased 6% to $3,533 per feu, which is 66% below the previous pandemic peak of $10,377 in September 2021 but 149% more than the average $1,420 in 2019 (pre-pandemic). The average YTD composite index is $3,958 per feu, which is $1,104 higher than the 10-year average of $2,854 (inflated by the exceptional 2020-22 Covid period). Freight rates from Shanghai to Genoa surged 22% or ...

US Gulf Coast crude exports have increased for three consecutive months now with flows directed towards Asia driving the increases. This has also led to increased STS operations in the Gulf Coast for November. This momentum is expected to continue into December as ad-valorem tax will drive sellers to deplete inventories where possible – thereby pushing barrels on the water. Finally, recent talks about tariffs on imports, including crude oil from Canada and Mexico could have an impact on flows into the US which we shall try to highlight in ...

AD Ports Group, a leading enabler of global trade, logistics, and industry, announced the rebranding and change of Maqta Gateway’s corporate identity to Maqta Technologies Group, aligned with its strategic focus of facilitating global trade through digitalisation. This launch signifies Maqta Gateway’s evolution into an organisation focused on the future, based on the pillars of innovation, collaboration, and investments with unwavering commitment to deliver enhanced experience across all stakeholders, including its people, customers, suppliers, and shareholders. Formed with the vision of digitalising trade, Maqta Technologies Group will bring together diverse ...

As of 9 December, the Maasvlaktehopper has a new timetable. The new stops and routes provide shorter travel times to and from Maasvlakte and Europoort. The Maasvlaktehopper now runs between Maassluis Centre, Maasland viaduct and Rugge bus station in Brielle and various stops along the Maasvlakte and Europoort. These journey times reflect the working hours of shift workers and office workers at the port. Starting 9 December, bus lines 102 and 105 will run via the Maasdelta Tunnel, connecting Voorne-Putten & Rozenburg with Schiedam, Vlaardingen and Maassluis. Driving to Schiedam ...

ESPO congratulates bremenports (Germany) on their recertification under the EcoPorts’ environmental management standard (PERS). The Ports of Bremen joined the EcoPorts network in 2011 and have now earned PERS certification for an outstanding seventh time. Isabelle Ryckbost, ESPO Secretary General, commented: “Being PERS Certified for the seventh time, I think we can easily say that bremenports have environmental responsibility and engagement in their genes. I have witnessed that myself during the last Envoconnect Conference they have been organising. We are very proud to count bremenports as part of our Ecoports ...