Top Stories.

The ship recycling market is looking for additional catalysts to pick up pace. In its latest weekly report, Best Oasis (www.best-oasis.com), one of the leading cash buyer of ships globally said that “this week, recycling markets across regions like South Asia and Turkiye remained largely subdued, showing mixed trends. In India, a modest post-festival demand ... […]

In today’s volatile shipping market, particularly amid unpredictable global conditions and geopolitical events, Forward Freight Agreements (FFAs) play a crucial role in stabilising and managing risk. FFAs allow shipping industry participants to hedge against freight rate fluctuations, providing financial security and predictability in an increasingly uncertain environment. Freight derivatives have become a go-to solution for ... […]

The new guidance on ballast water (BW) record-keeping and reporting, adopted in Circular BWM.2/Circ.80, aims to assist ship crews by clarifying the record-keeping and reporting process under the BWM Convention. The circular includes guidance on completing the BWRB, including: Updated example ballast water reporting form (Appendix II) Example form for voluntary tank-by-tank logging of BW ... […]

Increased levels of newbuilding contracting activity seem to be the norm during 2024 and last week was no exception. In its latest weekly report, shipbroker Banchero Costa said that “the newbuild tanker sector remains busy. Cosco Shipping Energy Transportation (CSET) secured 6 x 307,000 dwt VLCCs (conventional fuel propulsion) at Dalian Shipbuilding Industry. The vessels ... […]

Massive shifts in global trading patterns in 2024 have made the task of managing and optimizing supply chains even more complex. This is perfectly demonstrated on the trade from the Far East to South America East Coast where a record-breaking 1.6m TEU (20ft shipping container) was shipped in the first nine months of the year ... […]

To support clean, safer, and modern shipping in the EU, today the Council adopted four new pieces of legislation of the so-called ‘maritime safety’ legislative package, namely those amending the relevant directives on: – the investigation of accidents in the maritime transport sector – ship-source pollution – compliance with flag state requirements, and – port ... […]

The container shipping market appears to be set for a fruitful period ahead. In its latest weekly report, shipbroker Intermodal said that “building on the strong performance observed over the summer, the containership markets remain in solid shape as we head into the pre-holiday season. This positive trajectory is underpinned by several key factors, shaping ... […]

The UN Climate Change Conference (COP 29) is currently being held in Baku, Azerbaijan, and delegates are meeting to try and find solutions to tackling climate change. 

With 80-90% of global trade by volume transported by sea, the maritime industry is set to play a pivotal role in the energy transition. The maritime industry itself accounts ... […]

Are you looking for a way to reduce vessel emissions today, while still operating on conventional fuels? Onboard carbon capture and storage could help you do just that. Here are 17 interesting facts about a technology that is likely to play a strong role in the decarbonisation of shipping. Onboard carbon capture and storage (CCS) ... […]

Tanker market dynamics are being muddled by a seeming shift in China’s crude oil import patterns. In its latest weekly report, shipbroker Gibson said that “lacklustre oil demand from China has been a leading story in tanker markets this year. In its annual report published in June, the IEA forecast Chinese demand growth of 480 ... […]