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Marine News:

Dry Bulkers In High Demand as Market Prospects Improve

After a turbulent period, the dry bulk market’s prospects seem to be back on track. Shipbrokers are reporting higher availability of finance, key to more S&P deals being concluded, in a time when freight rates seem to have stabilized again. In its latest weekly report, shipbroker Intermodal said that “the shipping industry is going through ......

Dry Bulk Market: Capesizes Find The Floor and Bounce Back

Capesize After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predicted a strong fourth quarter have, as yet, offered few reasons for the dramatic fall. The key trade from West Australia to China recovered to the low-mid $6.00s as the week ......

On Course Towards Carbon-neutral Shipping?

The issue If no drastic action is taken, CO2 emissions from international shipping could increase between 50% and 250% by 2050 Maritime transport emitted 938 tonnes of CO2 in 2012. This represented 2.6% of total global carbon emissions. By 2050, shipping CO2 emissions are projected to increase between 50% and 250% if no drastic action ......

Tanker Market On a High Note

Fortunes have improved in the tanker market as of late, as per the latest monthly OPEC report. In October, tanker spot freight rates for dirty vessels increased considerably, with gains being registered across all classes trading on all major routes. As the market approaches the winter season, tanker market spot freight rates saw notable improvements ......

‘Bad bunkers’ – common challenges, recommended actions

Instances of damage to vessels’ machinery, including engine breakdowns, as a result of contaminated fuel have reached unprecedented levels. Since the first reports of this ‘bad bunker’ fuel appeared in Houston at the beginning of 2018, it is thought that hundreds of ships have been affected globally. Norwegian Hull Club has – as of October ......

Liberia becomes first flag state to join the Maritime Anti-Corruption Network

Liberia has become the first ship registry to be admitted to the Maritime Anti-Corruption Network (MACN) as an associate member. Alfonso Castillero, CCO of the Liberian Registry, says, “We are greatly honoured to be the first ship registry admitted as an associate member of the MACN. The organization has done great work fighting corrupt practices ......

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