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Industry News
“Driven by continued growth in minor ore demand in China, global seaborne minor ore exports rose 7% y/y in the first seven months of 2023, vastly outpacing the 2% y/y growth in overall dry bulk exports,” says Filipe Gouveia, Shipping Analyst at BIMCO. Accounting for 51% of seaborne minor ore exports, bauxite exports also led […]
Marco Bognolo, Vice President Basic Design, Merchant Ship Business Unit, Fincantieri Marco Bognolo serves as Vice President of Basic Design in the Merchant Ship Business Unit of Fincantieri. Thanks to the extensive experience previously gained in various disciplines of the technical department, in project management and as senior designer for cruise ships, over the past […]
Majority of 2570 Supply chain professionals surveyed in July hopeful of container market rebound, Container Price Sentiment Index (xCPSI) reflects positive outlook Container prices have remained stable in July, indicating a market improvement that offers favorable conditions for shippers entering the peak season Hamburg, 14 August 2023: Container xChange, an online container logistics platform, published […]
Spot rates for containerized ocean freight have climbed across three leading Far East export corridors after the latest round of General Rate Increases (GRIs) from carriers. The news, revealed by Oslo’s Xeneta, provides welcome relief for a segment that has been “up against the ropes” for much of 2023, fighting against declining demand and volumes, […]
The 9th session of the IMO Sub-Committee on Implementation of IMO Instruments (III 9) agreed on guidelines for remote surveys and ISM Code audits in extraordinary circumstances, and on updates to the survey guidelines under the Harmonized System of Survey and Certification (HSSC) and the procedures for port state control. Meeting highlights • Reviewed lessons […]
In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at deliveries of new container ships reaching a new record high during the first seven months of the year. The increase in fleet capacity comes at a time when current trade growth in many key regions is declining and […]
Reefer container freight rates continue to outperform the dry cargo trade, despite an unprecedented contraction in reefer seaborne trade last year, and this divergence is forecast to continue over the next few years, according to Drewry’s recently published Reefer Shipping Annual Review and Forecast report. The normalisation of the reefer trade and resultant freight rate […]
The Drewry Dry Bulk Equity Index dropped 15.2% YTD as a 28.5% slump between March and May was more than enough to offset an 18.4% jump in the first two months of 2023 and a 5.7% gain in June and July. Sell-side pressure in the aftermath of the banking crisis, a contraction in China’s manufacturing […]
Corn main export markets are facing various weather challenges, which could in turn result in changes in cargo demands. In its latest weekly report, shipbroker Intermodal said that “due to the adverse weather outlooks expected in August, there has been a 1% decrease in the projected U.S. corn production for the 2023/24 season, bringing the […]
AI and big data processing can help address one of shipping’s main problems today, i.e. emissions reduction through voyage optimization. In an exclusive interview with Dr Konstantinos Kyriakopoulos, CEO and Co-Founder of DeepSea Technologies, Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), discusses the technology advancements which can help reduce emission today. Voyage optimization is widely regarded as […]
Saudi Arabia’s crude oil exports have maintained their upward momentum in 2023, albeit at a significant slower pace, as production has been reduced as part of OPEC’s oil price strategy. In its latest weekly report, shipbroker Banchero Costa said that “2023 so far has been another positive period for crude oil trade, despite the high […]
Ship owners gravitated towards more tanker acquisitions, than bulker ones, during the first six months of 2023. In its latest weekly report, shipbroker Xclusiv said that “the second quarter of the year has come to an end, and it is time to do a quick review of the S&P market for bulk carriers and tankers. […]