News Flash

LME scrap volumes increase on week; rebar forward curve in contango structure

Volumes traded for the scrap futures contracts on the London Metal Exchange, which settle basis the Platts assessment, increased on...
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US fuel oil exports surge as Asian and Middle Eastern demand rises

US fuel oil exports have surged by 45% this month as demand grows in Asia and the Middle East, while...
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Decarbonisation needs collaborative ‘kick-start’

In a panel discussion called by the World Economic Forum in Gothenburg, Sweden on Monday, APM Terminals Chief Executive Officer,...
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Procureship partners with SpecTec Group to enhance fleet management capabilities for global shipowners and managers

Procureship has signed an agreement with SpecTec Group to integrate SpecTec’s AMOS Procurement and Logistics software into its award-winning e-procurement...
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FBI agents have boarded vessel managed by Synergy Marine Group whose other cargo ship collapsed Baltimore bridge

Federal agents on Saturday boarded a vessel managed by the same company as a cargo ship that caused the deadly...
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Methane abatement group adds BP, CMA CGM and GTT as global reach grows

Energy giant BP’s maritime arm BP Shipping, shipping company CMA CGM, and LNG containment technology expert GTT have joined the...
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Global consortium pioneers ammonia cargo transfer between ships at Australian port

Japan’s Mitsui O.S.K. Lines, Norway’s Yara and Singapore’s Global Centre for Maritime Decarbonisation said they had jointly completed an ammonia...
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Red Sea insurance costs soar as Houthi shipping threats loom, sources say

The cost of insuring a ship through the Red Sea has more than doubled since the start of September and...
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Lower Shipping Emissions May Lead to Higher Global Temperatures

Products that we depend on and use every day arrive by way of massive container ships to ports around the...
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Tanker Market: VLCCs Continue Firming Up

Clean LR2 LR’s in the MEG showed the optimistic beginnings of freight improvement this week after a somewhat lengthy lull....
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Asia-US container rates fall further ahead of looming dock worker strike

Rates for shipping containers from Asia to the US fell again this week, but carriers are warning customers that they...
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Hefring Marine partners with UAE’s BluePass to expand in region

UAE – Hefring Marine, a global leader in marine technology and vessel intelligence systems, has partnered with UAE-based Blue Pass...
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Seabed 2030 and Exail join forces to accelerate ocean floor mapping efforts

The Nippon Foundation-GEBCO Seabed 2030 Project is pleased to announce a new partnership with Exail, a world leader in robotics,...
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CB&I and Hanwha Ocean Receive Approval for Cargo Containment System and Ship Design for Liquid Hydrogen Carriers from DNV

CB&I, a wholly owned unrestricted subsidiary of McDermott, and Korean world-class shipbuilder Hanwha Ocean have received Approval in Principle (AiP)...
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NYK Launches a Brand “HULL NUMBER ZERO” for the Group’s Technology Solutions Integration Solving Ship Issues with Technology and Strengthening the Key Strategies of the Medium-Term Management Plan

NYK has launched its new “HULL NUMBER ZERO” (HNZ) brand to integrate the technical solutions of the NYK Group. NYK...
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GTT secures an order for the tank design for the world’s six largest ethane carriers

GTT announces that it has received, in the third quarter of 2024, an order from its partner Jiangnan Shipyard (Group)...
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Asia Fuel Oil-VLSFO cracks jump; China issues third batch of export quotas

Cracks for very low sulphur fuel oil (VLSFO) gained on Friday even as spot premiums were largely rangebound, while the...
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Pertamina’s shipping unit to double tanker fleet in next 10 years

The shipping unit of Indonesia’s state energy firm Pertamina plans to double its fleet of 320 tankers in the next...
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Action needed to meet growing demand for sustainable fuels on Rotterdam-Singapore shipping corridor

As the maritime industry accelerates efforts to decarbonise, the Rotterdam-Singapore Green and Digital Shipping Corridor (GDSC) is set to play...
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Port strike on US East Coast would spark supply-chain glitches from outset, shipping firm exec says

A threatened Oct. 1 strike by dockworkers at ports on the U.S. East Coast and Gulf of Mexico would immediately...
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