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Atlantic Supramax scrap market witnesses drop due to inactivity in week 5

The supramax segment in the Continent and Baltic Sea regions endured another trading week under bearish momentum, as the quiet market led to lower levels for the week of Jan. 27 – Feb. 3. During the week, spot rates continued to face pressure as the scrap market struggled to supply adequate cargo and remained weak due to limited opportunities. “The market remains under pressure with weak demand and excess tonnage,” a source said. Ultimately, the market saw weak sentiment, with the push of excess tonnage putting the market under pressure. ...

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Maritime Security Update: Key Global Developments

The latest Maritime Security Threat Advisory (MSTA) from Dryad Global highlights pressing security concerns and geopolitical developments impacting the maritime industry. Here are the key takeaways from the 3 February 2025 report: Heightened Tensions in the Panama Canal A significant focus remains on the Panama Canal, where U.S.-China tensions are escalating. The U.S. Secretary of State’s recent visit to Panama underscored American concerns over Chinese influence in the region. The U.S. has warned Panama about the potential security risks posed by Chinese firms operating in key port locations at both ...

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Lehmann Marine’s CUBE battery system certified by Lloyd’s Register

Our CUBE battery system has been type-approved by Lloyd’s Register. This prestigious certification marks the fourth major classification society to approve the CUBE battery system, following Bureau Veritas, DNV, and RINA approvals. The Lloyd’s Register type approval further underlines Lehmann Marine‘s flexible battery modules‘ reliability, safety, and quality, paving the way for broader adoption across the maritime industry. With this latest certification, shipbuilders, operators, and integrators are set to have even greater confidence in the CUBE system’s compliance with stringent industry standards. “We are honoured to receive this recognition from ...

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Ocean Network Express and LX Pantos Announce Joint Venture to Strengthen US Domestic Intermodal Transportation Services

Ocean Network Express (“ONE”) and LX Pantos are pleased to announce the successful completion of their joint venture, Boxlinks LLC (“Boxlinks”). This strategic partnership will leverage the combined strengths of ONE and LX Pantos to provide end-to-end domestic intermodal transportation services, utilizing both companies’ partnerships with major rail carriers and trucking companies to provide efficient and timely delivery of cargo in the United States. Hiroki Tsujii, Global Chief Officer – Head of Product & Network at ONE, commented, “Through Boxlinks, we are transforming how we deliver value in the United ...

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ClassNK issues Approval in Principle (AiP) for Coastal Liquefied CO2 Carrier developed by Mitsubishi Shipbuilding and Nippon Gas Line

ClassNK has issued an Approval in Principle (AiP) for a design concept of a coastal liquefied CO2 carrier jointly developed by Mitsubishi Shipbuilding Co., Ltd. and Nippon Gas Line Co., Ltd. In building the CCS*1 value chain, in addition to large ships transporting CO2 domestically and internationally, coastal vessels that collect CO2 from small-scale emission sites in Japan and transport it to base sites toward overseas storage sites play a crucial role, with demand expected to grow. This AiP represents a step toward realizing the supply of coastal liquefied CO2 ...

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HD Hyundai Marine sets sights on LNG vessel retrofitting in Trump era

While the global shipbuilding industry was reeling from the economic slowdown in recent years, South Korea’s HD Hyundai Marine Solution Co., a ship repair and maintenance service unit of the world’s No. 1 shipbuilder HD Hyundai Heavy Industries Co., looked to the silver lining. Unscathed by the global slowdown during the pandemic, the company rather benefited from growing demand for vessel maintenance, repair and overhaul (MRO) and retrofitting projects from ship owners. With US President Donald Trump kicking off his second term earlier this month, HD Hyundai Marine sees even ...

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FUJAIRAH DATA: Oil product stocks fall from six-month high

Oil products inventories at the UAE’s Port of Fujairah fell 2.8% in the week ended Feb. 3, led by a 33% tumble in jet fuel, diesel and other middle distillates, according to Fujairah Oil Industry Zone data published Feb. 5. The total dropped to 18.328 million barrels from a six-month high a week earlier, according to FOIZ data. Middle distillates ended at 1.841 million barrels, a 12-week low while heavy distillates used as fuel oil for power generation and shipping fell 6% to 8.1848 million barrels, a two-week low. Light ...

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FEPORT and 44 European Transport Organisations Call for a Stronger EU Transport Budget

FEPORT, alongside 44 European transport organisations, urges EU policymakers to uphold a strong, centrally coordinated transport funding instrument to address Europe’s infrastructure, resilience, and decarbonisation challenges. A well-functioning, integrated transport network is essential to maintaining Europe’s supply chain sovereignty and enabling the shift to a net-zero economy. European-level funding ensures investments of high EU-added value, tackling cross-border bottlenecks, improving intermodality, and supporting the long-term competitiveness of the transport sector. “Strategic EU investment in transport is critical to overcoming fragmentation, ensuring infrastructure aligns with the needs of businesses, and strengthening Europe’s ...

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China has delayed or redirected 600,000 tons of wheat imports, sources say

China has delayed imports of up to 600,000 metric tons of mostly Australian wheat and offered some of these cargoes to other buyers as ample domestic supplies reduce demand in the world’s top buyer of the grain, two trade sources with direct knowledge of the matter said. China accounted for 6% of global wheat imports in the year to June 2024, according to U.S. Department of Agriculture data. With its outsized role in the market, the country’s lower intake may pressure benchmark Chicago wheat prices, which remain below $6 a ...

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Ship Recycling: Limited Activity Remains the Norm

The ship recycling market is still exhibiting limited activity all around. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the ship recycling market remained largely inactive across all major destinations this week, with no significant improvements or sharp declines. In India, the market remained unchanged from the previous week, with stable prices and no shift in the availability of imported scrap. However, anticipation is building around the Union Budget 2025, as industry participants expect potential measures to regulate rising steel imports, which ...

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LNG shipping rates plunge on increasing vessel availability

Shipping costs for liquefied natural gas (LNG) cargoes have tumbled to five-year lows as newly built carriers added to the global fleet outpace shipping demand and shorter average journey times have increased vessel availability. Atlantic freight rates assessed for vessels with two-stroke engines capable of carrying 174,000 cubic meters of LNG, the most common type in the market, were at $4,250 per day on Tuesday, according to pricing agency Spark Commodities. Prices on Friday plunged to $3,500 a day, the lowest ever in Spark’s data which goes back five years. ...

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Dry Weekly Market Monitor: Coal Dry Bulk Flows | U.S. – Europe Market Analysis

The total coal shipment volume from the U.S. to Europe in 2024 is estimated at 25.2 million tonnes, reflecting a decline from 2023, which recorded 26.4 million tonnes. This marks a 4.5% year-over-year drop in total coal exports, suggesting a potential weakening of European demand for U.S. coal, possibly due to factors such as regulatory changes, energy transition policies, or economic slowdowns. In 2023, the highest shipment volume occurred in January, surpassing 3 million tonnes, with relatively stable flows throughout the rest of the year. Data for January 2025 reveals ...

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Shipping lines braced for change as Trump’s tariffs target the EU

President Trump’s latest trade tariff salvo took aim at the EU, confirming his long-held promise to increase levies on exports to the US, as he seeks to redress trade imbalances and protect domestic markets. In the same breath, he added that a deal between the UK and US ‘could be worked out’, a statement that was as foreboding as it was vague. While this particular missive was light on detail, there is little doubt that the imposition of tariffs will trigger disruptions in the global shipping market, the ramifications of ...

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There is no boredom at sea: about changes in maritime business in 2025

Maritime freight plays a key role in global trade. According to the IMO (International Maritime Organization), about 80-90% of global trade is carried out by this service. Maritime shipping not only connects markets from different continents but also plays an important geopolitical role. This is confirmed by the events of the last 2-3 years. Climatic factors such as the drought limiting the capacity of the Panama Canal and attacks by Yemeni militants in the Suez Canal show that the turbulence of the maritime freight market directly affect global business. Therefore, ...

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PROSTEP Interviewed for Analyst Research on PLM Evolution

PROSTEP, Inc., a global leader in PLM integration and digital transformation solutions, has been interviewed for Forrester’s report, “Prepare for PLM Transformation.” PROSTEP believes the report underscores its contributions to cloud PLM solutions, advanced interoperability, and digital thread creation. As a vendor-agnostic partner, PROSTEP has consistently delivered innovative solutions that enable manufacturers to integrate complex systems, enhance efficiency, and drive collaboration across disciplines. “To us, being included in Forrester’s research reflects PROSTEP’s unwavering commitment to advancing PLM strategies for manufacturers worldwide,” said Paul Downing, President and CEO of PROSTEP INC. ...

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