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 Oslos Xeneta, provides welcome relief for a

Deliveries of new container ships during the first seven months of the year reached a new record high of 1.2 million TEU in 2023, beating the previous record by 0.2 million TEU. As recycling of ships has remained low, the fleet capacity has

Values have fallen below USD 19 mil for the first time since July 21 Capesize sales from Japanese owners have increased by c.20% year on year with twelve sales reported over the first seven months of this year. Approximately half of these s

[TANG KE/FOR CHINA DAILY] NEVs give edge; trade body sees 2023 figure at 5m units; H1 data put Japan at No 2 China surpassed Japan as the worlds largest vehicle exporter in the first half of this year and analysts attributed the achievement

US-based agricultural trader Cargill has ramped up a bio-bunkering program for its own shipping fleet and other shipowners as part of initial decarbonization efforts amid the industry switch to a multi-fuel, low-emission future, its top mar

Chinas appetite for crude oil has been the major driver for global demand this year, outstripping volumes in 2022, with an average monthly year-on-year increase of 24%. Domestic crude demand has risen, but we expect to see an increase in cl

Great White Fleet, a company under Chiquita Brands , has increased its investment in Carrier Transicold PrimeLINE container refrigeration units. The ocean carrier added 800 PrimeLINE units to transport bananas on routes from Central America

08August 2023 (LONDON)The Oil Companies International Marine Forum (OCIMF) has successfully completed the first phase of the four-phased roll-out and testing of the digitalised tanker inspection regime, SIRE 2.0, which will replace all exis

ITICs, International Transport Intermediaries Club, financial results announcement revealed a substantial surplus in 2022/23. Now in its 31st year, ITIC, and its mutual reinsurer TIMIA, returned a US$ 8.1m surplus for the year to 31st May 2

[Photo: RINA] Genova/Milan, 4 August 2023 Registro Italiano Navale, Fondo Italiano dInvestimento and RINA S.p.A have announced a new agreement aimed to allow the Italian fund to become a shareholder in RINA S.p.A., a multinational company b

Singapore, 8 August 2023 The Global Centre for Maritime Decarbonisation (GCMD) and Mitsui O.S.K. Lines, Ltd. (MOL) announced today the signing of a five-year Impact Partnership agreement. On the same day, both parties held a signing ceremon

8 August 2023, London: The Association of Panamanian Shipowners (ARPA) has become an associate member of the International Chamber of Shipping (ICS). Launched in 2020, ARPA was created by shipowners and operators of vessels to strengthen Pa

Transportation demand recovered slowly, freight rates on European route rose and then fell Ningbo Containerized Freight Index: In the week ending Aug-4, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quo

Capesize The cape market had a sluggish start to the week but gradually exhibited signs of improvement and positivity as the week progressed. The anticipated momentum in the Pacific fizzled out by the middle of the week despite the presence

Ocean Network Express (ONE), a world leader in container shipping, successfully hosted the 2nd Container Shipping Summit in Singapore on 3 August 2023, in collaboration with Anchor Ship Partners Co.,Ltd., and KOZO KEIKAKU ENGINEERING INC. T