In 2023, sanctions on Russian oil exports by the EU caused a major shift in tanker trades and a 10% increase in average sailing distances for EU tanker imports. Now, attacks on ships in the Red Sea area have caused average sailing distances

The collapse of the Francis Scott Key Bridge in Baltimore has caused supply chain disruption on the US East Coast but, so far, it has not seen an increase in ocean freight container shipping rates. Data released today, Monday, by Xeneta, th

T homas Zaidman, Managing Director, Sagitta Marine Sagitta Marine Managing Director Thomas Zaidman thinks the Handysize and Supramax segments could see positive fortunes for the balance of 2024 thanks to firm demand and lingering market ris

Houthi attacks on ships in the Red Sea, coupled with a rise in piracy off the coast of Somalia, are disrupting global trade. In 2023 an estimated 13% of global seaborne trade transited through these areas. However, the attacks have reduced

As member of OCEAN Alliance, COSCO SHIPPING is dedicated to promoting the prosperity of global trade by enhancing their scale and strength, providing broader network, more stable and high-quality service products to their global customers a

Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU has accounted for 51% of the fleets capacity expansion. Today, just 626 ships provide 36% of the fleets capacity, and

Mitsui O.S.K. Lines, Ltd. (MOL; President CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo) and Rio Tinto, a leading mining and metals company and largest dry bulk shipper in the world, signed the Partnership Agreement to enhance colla

Persistent missile attacks by Houthi on ships plying the Red Sea route have led to soaring emissions liabilities for shipping companies under the EU ETS as lengthy voyage diversions for Europe-bound vessels have multiplied fuel consumption,

In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y, due to a rise in orders for very large crude carriers VLCCs. A notable 19 VLCCs were ordered, already surpassing the number of orders f

SSY, the worlds largest independent shipbroker has today announced that its commodities arm, SSY Futures, is further expanding its reach in the commodities sector with the launch of a dedicated Agricultural Derivatives sales and execution d

During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number of ships arriving in these ports significantly declined as merchant shipping increasingly avoided transiting t

The Bollor Group and the CMA CGM Group announce the completion of the sale of 100 % of Bollor Logistics to CMA CGM, it being specified that the transfer of Bollor Logistics Sweden AB to the CMA CGM Group remains subject to the latter obtain

The London PI Club has reported a strong outcome for its annual renewals for 2024, with a growth in mutual tonnage of 8.9% year on year. This positive outcome and strengthening of rating and deductible levels for the London Club has fallen

The reshaping of global crude tanker markets continued in 2023. In 2022, sanctions shifted Russias exports from Europe to Asia while OPEC production cuts in 2023 increased the Americas share of exports. Brazils oil production increased by 1

In 2023, shipyards delivered 350 new container ships with a total capacity of 2.2 million TEU, beating the previous record from 2015 when 1.7 million TEU was delivered. The 2023 record is now likely to be beaten already in 2024. As 2023 saw