Modest decline in global bunker indices During the 13th week of the year, the Marine Bunker Exchange (MABUX) global indices generally showed a modest downturn. The HSFO index remained relatively steady with a marginal uptick of US$0.9 reaching US$547.71/MT. Conversely, the VLSFO index saw a decrease of US$1.78 settling at US$689.92/MT, remaining below the US$700 threshold. Meanwhile, the MGO index experienced a more significant decline
Container lines record combined EBIT loss of US$1.44 billion in 2023 Q4 Following Sea-Intelligence's previous announcement on 21 March, which provided insights into the fiscal year 2023 results, the data analysis firm now delves into the operating profit specifically for the fourth quarter of the last year. During the fourth quarter of 2023, the shipping lines collectively reported a combined EBIT loss of US$1.44 billion. Among the major players, Maersk recorded a lo
Port Houston achieves container export record Port Houston's terminals achieved a container volume surge of 20% compared to the same month last year, reaching a total of 375,965 TEUs. In the first two months of 2024, the US port has seen box volumes of 708,926 TEUs, translating to a 12% year-over-year increase. Furthermore, loaded export volumes continued to drive growth, registering a remarkable 25% rise in February compared to the previous
Government of Canada allocates over US$12 million to Pie-IX Railway Bridge Project The Port of Montreal celebrates the allocation of US$12.36 million in funding, announced on 25 March by Pablo Rodriguez, Minister of Transport and Quebec Lieutenant, for the Pie-IX railway bridge project, facilitated through the National Trade Corridors Fund. This significant investment is expected to enhance and modernise the Port of Montreal's transportation infrastructure. Such efforts aim to
Onne Port opens new in-gate facility APM Terminals-operated West Africa Container Terminal (WACT) anticipates a significant enhancement in efficiency and security with the official inauguration of a new four-lane in-gate facility at Onne Port, Rivers State, Nigeria. This development closely follows the establishment of a new on-terminal container freight station (CFS) , reflecting WACT's ongoing investment to position itself as the
Wan Hai names new 13,100 TEU ship Wan Hai Lines recently held a ship naming ceremony for WAN HAI A15 at the Samsung Heavy Industries Geoje shipyard, coinciding with a charity event on 29 March. The ceremony was jointly presided over by S.A. Choi, vice chairman & CEO of Samsung Heavy Industries, and Tommy Hsieh, president of Wan Hai Lines. Following the ceremony, WAN HAI A15 was delivered at the Geoje shipyard and commenced its jo
CMA CGM celebrates dual launch of 15,000 TEU LNG vessels French shipping company CMA CGM celebrates a "significant milestone" by launching two 15,000 TEU LNG container ships, CMA CGM Maui and CMA CGM Big Sur. "After four months of rigorous construction side by side in the same dry dock, these two 15,000 TEU LNG vessels embarked on their maiden voyage on the Yangzi River in Shanghai," said the Marseille-based ocean carrier in a LinkedIn post. 1 of 2 "A
MSC increases rates from North Europe, Med & Black Sea to Far East & Middle East Gulf MSC has unveiled updated freight rates for all new bookings, effective from 8 April and until further notice, from North Europe (including the United Kingdom and Scan Baltic), the Mediterranean region (including West Med, Adriatic, East Med, Greece and Turkey), as well as the Black Sea, to the Far East and Middle East Gulf. FROM TO NEW BASE RATE OLD BASE RATE 20 DRY 40 DRY Reefer 20 DRY 40 DRY Re
Finkea Review: Simplifying Trading with Automated Tools (finkea.com) The trading environment nowadays often seems like a hot air balloon. It makes you happy and dizzy, but, on the other hand, it can be stressful and takes time. The fortunate thing here is the technological progress made by automation tools that reduce the amount of work, make tasks easier, and provide traders with stress relief. Automation is one of the advantages of Finkea because it allows the u
Ejected Evergreen scion speaks out as minor shareholders mull punitive action Chang Kuo-wei, youngest son of the Evergreen group's late founder Chang Yung-fa, has criticized his estranged oldest brother for unilaterally executing transactions to consolidate the group's container shipping assets. The younger Chang was discussing the actions of Chang Kuo-hua with Taiwanese journalists shortly after Evergreen Marine Corporation's (EMC) minor shareholders filed a lawsuit again
Clean-up operation set to start in Baltimore after bridge collapse US Navy engineers have sent two cranes mounted on barges to begin the clear-up operation following the collision of the Maersk-operated Dali and the Francis Scott Key Bridge in Baltimore, causing the bridge to collapse. Maryland Governor Wes Moore said one of the cranes can lift up to 1,000 tonnes and will be one of at least two used to clear the channel of the metal and concrete remains of the b
Seattle's terminal launches auto and breakbulk cargo operations The Panama-flagged vehicles carrier Triumph Ace arrived at Seattle's Terminal 46 on 27 March signifying the commencement of regular auto and breakbulk cargo services at the US terminal, which is located in the Northwest Seaport Alliance's (NWSA's) Seattle Harbor and boasts over 170,000 m² of cargo lay-down space for shippers. Pacific Terminal Services Company (PTSC) will manage operations at the
Asia box lines launch joint Southeast Asia - India service Wan Hai Lines, Korea Marine Transport Co. and Interasia Lines will launch a new Southeast Asia - India Service VIII on 26 April. The service will be operated by four container vessels with a nominal capacity of 3,000 TEUs. Wan Hai Lines will deploy two boxships, while Korea Marine Transport Co. and Interasia Lines will operate one vessel each. The maiden voyage of the service will commence from M
Maersk vessel arrives in Hamburg on maiden methanol voyage On the morning of 28 March, Ane Maersk, the world's first large container ship capable of utilizing methanol as fuel, with a capacity of more than 16,000 TEUs, arrived at Eurogate Container Terminal Hamburg for the first time during its maiden voyage from Asia to Europe. The Ane Maersk marks a significant milestone as the first of its kind to adopt methanol propulsion and make a call at the Germa
Chinese property scene remains cause for concern for capesize owners Persistent gloomy headlines about the Chinese property sector continue to give otherwise bullish capesize owners pause for thought. In late January, a Hong Kong court ordered the liquidation of the Evergrande Group, bringing an end to two years of financial instability during which the company struggled to meet its debt obligations. Dry bulk owners might ...
Cranes move into place to remove Baltimore bridge debris Cranes are being brought into place by barges as the authorities in Baltimore turn their attention to reopening the port, a tricky operation that will require the removal of thousands of tons of debris. Tuesday's allision between the 9,962 teu Dali boxship and the Francis Scott Key Bridge saw the city's largest bridge collapse, killing ...
Korea's top shipbuilder teams with Germany's largest semiconductor manufacturer HD Korea Shipbuilding & Offshore Engineering (KSOE), which oversees South Korean shipbuilding giant Hyundai, is looking at every form of tech to slash emissions in future newbuilds, investing huge sums in research into diverse new forms of propulsion from ammonia to nuclear. Its latest research foray focuses on the electrification of marine engines and machinery ...
White House provides $60m in initial emergency funds to Key Bridge disaster First round of funds towards the debris removal and reconstruction of the critical artery was allocated by the US Department...
Transpacific contract negotiations going down to the wire The upside scenario for shipping lines - Houthi-inflated spot rates spur big gains in annual transpacific rates - is not...
Pioneer Logistics adds six ultramaxes to orderbook from Chinese shipyard Diversified owner Pioneer Logistics has added six 63,500 dwt bulkers to its orderbook. It also has seven methanol-ready tankers on...
MOL invests in US vessel battery manufacturer Fleetzero HD KSOE also launched partnership with tech giant Infineon for electrification of marine engines and machinery
Ro/ro shipping adjusts to Baltimore port disruption With the busiest roll-on/roll-off (ro/ro) port in the US closed to ship traffic, automobile manufacturers and ro/ro carriers are shifting to alternative ports.
East Coast ports expand hours to handle Baltimore diversions Nearby gateways are preparing to handle the diversion of vessels and freight that would have landed at Baltimore at least through May following the port's indefinite closure.
Flatbed spot rates from Baltimore rising after port closure The cost of moving flatbed loads from Baltimore to warehouses in western Maryland jumped more than $100 per load compared with February's average cost, according to data from DAT Freight & Analytics.
Chassis providers say they're ready for Baltimore port diversions Given the ample supply of marine chassis available in the US, chassis providers are confident they can handle any re-routed cargo from the closed Port of Baltimore to other East Coast ports in the short term without issue.
Indian Navy captures another group of pirates in the Arabian Sea Hijacked fishing boat with nine gunmen on board was intercepted southwest of the island of Socotra
Indian Navy vessels in hot pirate pursuit again off Somalia Iranian fishing boat with nine gunmen on board intercepted southwest of the island of Socotra
Editor's selection: Unravelling Baltimore bridge disaster and shellshocked seafarers in the Red Sea These are the big stories making the headlines in TradeWinds this week
'If a rocket strikes, they just hope': Red Sea mariners are suffering shell-shock symptoms Crew members can be helped after traumatic events, says Charles Watkins of Mental Health Support Solutions
Baltimore capesize diversions fuel negative sentiment in falling market Broker Braemar notes the loss of some arbitrage cargoes from closed US port
'Shocking and archaic': Ancient maritime law could leave Baltimore bridge victims high and dry Century-old precedent likely to disappoint some who want to 'go after the shipowner' in bridge collapse
'Too aggressive': BRS notes drop in large tanker sales for first time in seven years Broker says prices for 10-year-old ships still rising quickly despite overall drop in transactions
K Line and Nippon Gas Line team up on cross-border CO2 carrier operations Japanese owners looking to capitalise on country's carbon capture and storage plans
Gunvor and Pakistan LNG settle legal row over cancelled gas cargoes Trader and importer will work together again following confidential agreement
Trafigura settles US bribery case over payments in Brazil for $127m Swiss trading giant says conduct did not meet its own standards
Baltimore bridge disaster: Black box reveals four-minute countdown to deadly crash US authorities release details of how they, the crew and a pilot tried to avert disaster
Pilot injured in gangway accident did not heed warning, bulker owner claims as ship is released Fujian Shipping secures release of vessel after denying negligence
Gulf Coast ports record gains in cargo, crude oil shipments in February Ports in New Orleans and Corpus Christi, Texas, recorded year-over-year increases in cargo volumes in February.
FedEx initiates targeted layoffs; UPS sheds workers at Ontario airport FedEx and UPS have recently announced job reductions as part of ongoing efforts to streamline operations and boost profits.
Mississippi River shipping faces potential crisis for third straight year An unusually warm and dry winter might herald drought conditions in key areas of the Mississippi River Basin over the coming months.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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