On March 25, a delegation headed by President Designate of the Baltic International Maritime Conference (BIMCO) Ms.Sabrina Chao visited COSCO SHIPPING. Chairman of COSCO SHIPPING Capt. Xu Lirong and Executive Vice President of COSCO SHIPPIN

With around 60 exhaust gas scrubber references, naval architecture and marine engineering firm Foreship suggests that better than expected return on investments from open loop systems will translate into further orders once coronavirus-rela

March 29, 2021 - Evergreen Line confirmed that EVER GIVEN has been successfully refloated within the Suez Canal at approximately 15:04 March 29 local time. In order for the Canal to resume normal operation, the vessel is leaving the groundi

Shippers are facing increasingly difficult negotiations over long-term contracted rates in a market described as nothing less than red hot. Rates climbed by a further 2.2% in March, consolidating gains of 9.6% in February and 5.9% in Januar

Salvage teams freed the Ever Given in the Suez Canal, according to maritime services provider Inchcape, almost a week after the giant vessel ran aground in one of the worlds most important trade paths. While the ship is floating again, it w

The market volume gradually picked up, the composite index rose slightly Ningbo Containerized Freight Index:In the week ending Mar-26, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2040.2 points,

The heads of five UN organizations have called for maritime and air transport workers to be prioritized for COVID-19 vaccination, given their key role in supporting global trade and mobility, which is essential for a sustainable socio-econo

Chinas light cycle oil, or LCO, imports are expected to rally in March/April amid a possibility of imposition of consumption tax on the fuel in May, traders said. LCO, mainly supplied by South Korea, is a common blendstock for gasoil and it

MSC has approached three Chinese shipyards to order up to 27 15,500 TEU container ships at a cost of about $120 million per vessel, with a total value of more than $3.2 billion. According to the report, MSC has signed letters of intent with

There are currently around 30 tankers above 25,000 dwt waiting to cross the Suez Canal. We expect most vessels in ballast will decide to wait until the situation clarifies and, if fixed on a charter party, will likely get cancelled by chart

The ongoing blockage of the Suez Canal has resulted in ships diverting south to transit around the Cape of Good Hope, potentially taking them through the High Risk Area. It is noted that whilst the threat of Somalia-based piracy is currentl

Canal Crisis Since Tuesday, the closure of the Suez Canal has dominated mainstream media headlines around the world. At first there was a general sense that the situation would be resolved in a matter of days but here we are on Friday with

On March 25, China MerchantsEnergy Shipping released its 2020 annual report. The company achieved operating income of 18.073 billion yuan in 2020, a year-on-year decrease of 2.88%; The net profit attributable to shareholders of listed compa

The Yangtze River Protection Law of the Peoples Republic of China, as adopted on December 26, 2020 has come into force on March 1, 2021. As stipulated by Item 2 of Article 51, It shall be prohibited to transport acutely toxic chemicals by w

Benchmark Dalian iron ore rose for a third straight session on Thursday, as spot prices in China stabilised after a recent sell-off following improved demand and easing worries about production cuts in the countrys steelmaking hub. Market p