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,

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

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

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

Ever Given , the 20,388-TEU containership remains aground and the canal traffic is halted. A backlog of more than 180 vessels are reported to have built up as we write this report. No one really knows how long the salvage operation will las

Nor-Shipping may have postponed its summer 2021 event until January 2022, but Your Arena for Ocean Solutions isstill taking #ACTIONthis year. The Norway-based industry event week has today unveiled plans for a new initiative, Ocean Now. Thi

Results from the initial application of the unique ABS Artificial Intelligence (AI) powered Corrosion Detection digital solution show it has identified corrosion with 98.9% accuracy. The ABS AI Corrosion Detection tool continues to refine i

Passage through the Suez Canal, one of the worlds busiest shipping arteries, has remained blocked after a large container ship ran aground on Tuesday. The incident could impact the smooth flow of freight between China and Europe and shore u

On the afternoon of March 11, local time, Mr. Henrik Hansen, Global Supply Chain Officer of the United Nations World Food Programme (WFP), visited COSCO SHIPPING Lines Italy in Genoa. The two sides held a meeting to discuss cooperation in s