Carriers reduce shipping capacity, freight rates rise sharply on some routes Ningbo Containerized Freight Index: In the week ending Oct-13, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 622.2 poi

From January to August 2023, Chinas shipbuilding industry continued to top global rankings in three crucial categories -- shipbuilding output, new orders, and holding orders, which all reported double-digit growth. The countrys shipbuilding

Large scale changes identified in report include key ports becoming unusable due to climate change, a surge in the percentage of women in the workforce, and African nations becoming the worlds main suppliers of seafarers. The maritime indus

[Photo: DING TING/XINHUA] The deployment of Haixun 08, the largest and most advanced surveying ship in Chinas maritime safety system, will extensively improve the countrys oceanographic research and its support capability for maritime indus

All sub sectors and age categories have seen container values and earnings fall based on weakened market sentiment which has had an impact on recent benchmark sales. Values for 20YO Post Panamax vessels of 7,000 TEU are down by 18.51 % from

Sideline Observer Over the weekend, the world woke up to the extremely disturbing news coming out of Israel, with the conflict escalating rapidly as days went by. Oil prices initially gained on the news but retreated later in the week on th

The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a new

The number of stern tube-related damage claims has increased considerably over the last few years and such damages are now one of the more frequent claim types handled by Gard under the hull and machinery policies. A recent Gard analysis sh

Freight rates for container exports from the Chinese port of Ningbo-Zhoushan stopped fallingin Week 40 due to a significant reduction in shipping capacity during the National Day Golden Week beginning on 1October. According to the Ningbo Sh

Copenhagen, Denmark A.P. Moller - Maersk, the global leader of integrated container logistics, is embarking on a collaboration with Starlink, the pioneering satellite internet constellation developed by SpaceX. Maersks more than 330 own ope

MAN Energy Solutions has announced a partnership with industry leaders and research institutes that will develop engine concepts for hydrogen-fuelled, medium-speed engines in the maritime sector. Dubbed HydroPoLEn, the project is supported

The Israel-Palestine conflict, marked by recent violence between Israel and Hamas, has sent ripples through the shipping and maritime industry, leading international companies to issue cautionary advisories and adapt their operations in the

During the first three quarters of 2023, China has continued expanding its crude inventories by an estimated 0.7 million barrels per day (mbpd). These increased inventories could allow China to maintain strong exports of refined products ev

October 11, 2023.Orient Overseas Container Line Ltd. (OOCL) held the naming ceremony of a 24,188 TEU newbuilding at Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) shipyard. This mega containership is named OOCL Gdynia. Following its na

The situation in Israel remains volatile and we recommend assessing all port calls in the country on a case-by-case basis. Appropriate protective measures should be incorporated into ship security plans. Following Hamas large scale military