Oil futures eased from their highest levels in weeks as traders took profit while waiting for a Federal Reserve meeting later this week for clues on further rate cuts. Falls were limited, however, by concerns of supply disruptions in the event of more U.S. sanctions on major suppliers Russia and Iran. Brent crude futures LCOc1 fell 29 cents, or 0.4%, to $74.20 a barrel by 0746 GMT after settling at their highest level since Nov. 22 on Friday. U.S. West Texas Intermediate crude CLc1 dropped 36 cents, or 0.5%, to ...

Introduction The Red Sea links the Indian Ocean with the Mediterranean and serves as an important trade route for Asia, Europe, and Africa. However, this strategic waterway faces ongoing geopolitical tensions and security issues. Hostile acts against vessels, including oil tankers and cargo ships, have raised concerns over maritime safety and potential environmental and economic impacts. These events have constrained container traffic, increased transit times and shipping costs, and disrupted global commerce, supply chains, trade, and development. The Red Sea shipping crisis calls for a united effort from the international ...

Today, Thursday, October 31 2024, the Baltic Dry Index decreased by 07 points, reaching 1388 points.

today, iron ore futures fluctuated downward. the most-traded contract i2501 increased positions and fell in the morning, rebounded slightly in

Revised offer to avert port workers’ strike 22 Aug 2024, India The Indian Ports Association is understood to have proposed revised offer to avert the nationwide strike of workers at the country’s major ports called from 28 August. READ MORE Traffic suspension for swimming race 22 Aug 2024, Bosphorus Turkey Vessel traffic in the Bosphorus will be suspended on Sunday (25 August) due to the Samsung Bosphorus Cross-Continental Swimming Race. READ MORE Establishment of scientific buoy north of Lantau Island 22 Aug 2024,Hong Kong A scientific buoy is established to ...

DP World has marked the official start of Senegal’s cashew export season, welcoming the MV Diogue, a mega-shipment carrying 2,000 tonnes of cashews from neighbouring Guinea-Bissau. West Africa is becoming one of the world’s leading exporters of cashew nuts, and, in Senegal, the nut sector is flourishing due to the country’s role as a key gateway for exports of this precious agricultural commodity. The cashew export season in the West African country started on 5th July. Last year, some 180,000 tonnes of cashew nuts from Senegal and Guinea Bissau passed ...

Rebates/concessions on vessel related charges 18 Jul 2024 / Kandla, India Rebates and concessions on vessel related charges (VCR) have been announced for vessels scheduled to discharge or load coastal/foreign consignment of coal or coke at the dry cargo jetties in Kandla harbour, as follows: READ MORE Growth for port in first half of 2024 18 Jul 2024 / Antwerp-Bruges, Belgium The total throughput of Port of Antwerp-Bruges was 143.2 million tonnes in the first six months of this year, an increase of 3% compared to the same period last ...

The African Development Bank (www.AfDB.org) has successfully concluded a two-day preparatory workshop on implementing the African Ports Connectivity Portal Project (APC-PP) to improve data collection and connectivity among the continent’s ports. Held in Abidjan, Cote d’Ivoire, from 8-9 July 2024, the workshop rallied together key stakeholders and experts from various organizations, including port management and maritime associations, the African Union Commission, regional economic communities, and port authorities from ten African countries. The African Ports Connectivity Portal Project is supported by a $2 million grant from the Beijing-based Multilateral Co-operation Center ...

This event is a reminder that MARPOL Annex I Regulation 43A – the Arctic ban on use and carriage of highly polluting

Analysis of more than 1,600 vessel inspection reports in year to 1 April 2024 reveals ongoing safety concerns over confined spaces. A new report from the International Marine Contractors Association (IMCA) has analysed 1,611 standard vessel inspection reports uploaded to IMCA’s eCMID (Common Marine Inspection Documents) and eMISW (Common Marine Inspection Documents for Small Workboats) database in the previous year. The eCMID system provides the marine and offshore industry with standardised formats for vessel inspection. Offering a Safety Management System ‘health check’, it improves the quality and consistency of inspections, ...

All three vessels of Langh Ship’s 7800 dwt multipurpose newbuilding series have now been delivered. The final vessel of Langh Ship’s multipurpose newbuilding series, named Sofia during a ceremony in Ningbo, China, has begun her journey towards Europe through Singapore Strait and around Africa. Like her sister vessels, Sofia is purposely built to carry the stainless steel coils that Outokumpu produces in Finland. The liner service is established between Outokumpu factories in Tornio, Finland and Terneuzen in the Netherlands. There is a good balance of cargo flows, with stainless steel ...

Odfjell SE today reported its results for the first quarter of 2024, showing a record quarter driven by strong markets. The rerouting of vessels away from the Red Sea has elevated freight rates further. Highlights – 1Q24: Record net result of USD 68 million. Net result adjusted for one-off items was USD 69 million compared to USD 50 million in 4Q23. Time charter earnings in Odfjell Tankers ended at USD 195 million, compared to USD 182 million in 4Q23. EBIT of USD 89 million compared to USD 71 million in ...

CMA CGM is pleased to introduce its new Asia-East Coast South America set up that will start in May 2024. A major milestone in CMA CGM development on the Asia/Latin America trade, this new set up includes a complete reshuffle of SEAS1 & SEAS2 loops that will allow us to offer our customers the best product in the market. The new features will be the following: SEAS2 – Dedicated to Brazil South Range & North East volumes – Fleet: 12 vessels of up to 13,500 TEU specially designed for this ...

The LNG industry is under no illusions about the scale of its carbon challenge. LNG projects are among the most emission-intensive energy assets globally and face growing pressure to decarbonise. This won’t come cheap. All available options to cut emissions push up the cost of delivered LNG. And after two years of gas market chaos, few buyers today are queuing up to pay a premium for lower-emission LNG. Carbon taxes could change everything. Europe is already on the case, with the EU extending its emission trading scheme to include shipping ...

Today, Liantie fell first and then rose, and still fluctuated strongly throughout the day.