International Shipping News

Baltic Slips To Over One-Week Low On Easing Capesize, Panamax Rates

Fri, 26 Feb 2021 22:00:59 +0000

The Baltic Exchange’s main sea freight index fell to its lowest in more than a week on Friday, weighed by weaker demand for capesize and panamax vessels. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 25 points, or 1.5%, to 1,675, its lowest since Feb. ...

The post Baltic Slips To Over One-Week Low On Easing Capesize, Panamax Rates first appeared on Hellenic Shipping News Worldwide.

Seafarer supply is expected to tighten heralding higher manning costs

Fri, 26 Feb 2021 22:00:58 +0000

The attractiveness of a career at sea has been an industry concern for a number of years. Long periods away from home, increasing administrative demands for paperwork on board, and the threat of criminalisation being major factors. Covid-19 impacts, which have been particularly harrowing for seafarers, have added to these issues, presaging an inflection point ...

The post Seafarer supply is expected to tighten heralding higher manning costs first appeared on Hellenic Shipping News Worldwide.

Drewry: World Container Index Down 0.2% on Week, But 232.4% Higher Y-o-Y

Fri, 26 Feb 2021 22:00:57 +0000

The composite index slipped 0.2% this week, but remains 232.4% higher than a year ago. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,245 per 40ft container, which is $3,569 higher than the five-year average of $1,676 per 40ft container. Drewry’s composite World Container index slipped 0.2% to $5,237.86 per ...

The post Drewry: World Container Index Down 0.2% on Week, But 232.4% Higher Y-o-Y first appeared on Hellenic Shipping News Worldwide.

Trade liberalisation a rapid route to recovery

Fri, 26 Feb 2021 22:00:57 +0000

Liberalising global maritime transport has far-reaching benefits, according to the International Chamber of Shipping – and it’s not just the maritime industry that would gain. A study from the ICS has recommended that national economies work together to enjoy the benefits of liberalising maritime transport services through the World Trade Organization (WTO), which would then ...

The post Trade liberalisation a rapid route to recovery first appeared on Hellenic Shipping News Worldwide.

Pioneer Marine Inc. Bullish Over the Dry Bulk Market’s Prospects Moving Forward

Fri, 26 Feb 2021 22:00:55 +0000

Pioneer Marine Inc. and its subsidiaries, a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the fourth quarter and year ended December 31, 2020. Jim Papoulis, Chief Executive Officer commented: “The Baltic Handysize index recovered sharply in the fourth quarter of 2020 and continues to improve during ...

The post Pioneer Marine Inc. Bullish Over the Dry Bulk Market’s Prospects Moving Forward first appeared on Hellenic Shipping News Worldwide.

TANKERS: Texas freeze boosts USGC Aframax freight rates to nine-month highs

Fri, 26 Feb 2021 22:00:53 +0000

The extreme cold temperatures that hit Texas the week started Feb. 14 caused port closures that locked up tonnage and provided a silver lining for shipowners, already struggling with rates beneath the w100 psychological mark since May 2020 due to low demand for shipping crude following production cuts. Freight for the benchmark 70,000 mt USGC-UKC ...

The post TANKERS: Texas freeze boosts USGC Aframax freight rates to nine-month highs first appeared on Hellenic Shipping News Worldwide.

Global tank container fleet reaches 686,650 units

Fri, 26 Feb 2021 22:00:51 +0000

ITCO, the International Tank Container Organisation, has published its 9th Annual Tank Container Fleet Survey. This year’s Survey estimates that, at 1 January 2021, the global tank container fleet had reached 686,650 units worldwide, compared to the figure of 652,350 on 1 January 2020, a year-on-year growth of 5.26%. Reflecting market uncertainty during 2020 – ...

The post Global tank container fleet reaches 686,650 units first appeared on Hellenic Shipping News Worldwide.