News Flash

Suez Canal hits highest ever annual revenue, oil sector records surplus of $5 bln: minister

The Suez Canal achieved the highest return of about US$7 billion in the fiscal year 2021/2022, and the oil sector...
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Shipping lines still raking in billions despite sinking cargo demand

There’s no shortage of schadenfreude toward shipping lines these days. After making hundreds of billions in profits during the pandemic,...
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Tankers: VLCC Recover Lost Ground

In the Middle East Gulf this week early activity saw rates begin to creep up. TC1 gained 26.87 points to...
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Bunker industry gearing up for de-commoditization as shipping decarbonizes

The bunker industry is set to undergo de-commoditization as it transitions toward a cost-plus model, fundamentally altering market relationships and...
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Tanker Market’s Course to be Determined By Demand, Not Supply says Shipbroker

OPEC’s decision to move ahead with significant oil production cuts, will add pressure to the tanker market as well. However,...
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Cabinet approves development of container terminal at Deendayal Port

The Union Cabinet on Wednesday approved the project to develop the container terminal at Tuna-Tekra, Deendayal Port in Gujarat under...
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Port of Savannah handles 1.5M TEUs in first quarter

The Georgia Ports Authority handled more than 1.5 million twenty-foot equivalent container units in the first quarter of Fiscal Year...
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Port of Felixstowe: Strikes having no significant impact, MPs told

Workers at the Port of Felixstowe in Suffolk walked out twice after the union Unite rejected a pay deal. The...
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ICS heralds successful collaboration to reduce harm to whales

The International Chamber of Shipping (ICS), the global trade association for shipowners and operators, are encouraging the shipping industry to...
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Wilhelmsen enters into an agreement to acquire Vopak Agencies, strengthening it’s leading position as preferred global agent

Vopak Agencies has a strong track record within both hub services and port agency within the tanker segments in Europe...
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Furetank signs agreement to sell two dual-fuel tankers to Neste

Furetank Rederi AB sells two 17,999 dwt dual-fuel product tankers in the VINGA series to Neste in 2023 and replaces...
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Safety Front and Centre for IMCA in Taiwan

The International Marine Contractors Association (IMCA) has a packed safety-focused itinerary lined up for its forthcoming visit to Taiwan with...
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Xeneta: The one-sided volatility in spot rates is currently evident on all trades

The one-sided volatility in spot rates is currently evident on all trades, yet the difference in altitude is astonishing. With...
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BIMCO ship recycling report confirms need for non-EU yards on EU list

The “Report on the European List of Ship Recycling Facilities” is the 3rd edition by Marprof Environmental Ltd and was...
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Seanergy Maritime Announces New Term Loan of $28 million to Refinance Existing Facility at Reduced Cost

Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today the closing of its previously announced $28.0 million...
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Titan to build the world’s largest biomethane liquefaction plant

Titan, the independent supplier of low and zero-carbon fuels, announced today its LBM production project for 200,000 tonnes of LBM...
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MABUX: Bunker Prices on the Rise, But Volatility is Still the Norm

Over the Week 41, MABUX global bunker indices demonstrated firm upward trend. The 380 HSFO index rose by 12.46 USD:...
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DP World reaffirms commitment to developing African sport and culture

South Africa’s celebrated cricket ground, Wanderers Stadium, to be rebranded DP World Wanderers Stadium after naming rights deal; sponsorship includes...
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ICS Secretary General to address the UN General Assembly

ICS Secretary General Guy Platten to address the UN General Assembly today on the role of trade and logistics in...
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EU backs lifting of Turkey embargo on Cyprus ships

The European Commission has long been clear that Turkey should end its embargo on Cypriot-flagged ships and planes, said Transport...
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