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The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry commodities, dipped on Tuesday due to a decline in capesize rates, after scaling a seven-month high in the previous session.
Ships and ports targeted as Iran closes the Strait of Hormuz in Middle East war, Star Bulk joins Genco and Diana Shipping takeover battle, and can the IMO’s net zero framework survive? A round-up of the top maritime and shipping stories in March on the Seatrade Maritime Podcast with a special focus on the war in the Middle East and the impact on shipping in the Strait of Hormuz.
The Baltic Exchange’s dry bulk freight index was down for a second session on Tuesday, falling 1.1% to a near three-week low of 1,995 points.
On Tuesday, shortly after President Donald Trump proposed leaving the Strait of Hormuz as a matter for other nations to address, China and Pakistan released a peace proposal that would provide for "normal passage" - without explicitly calling for a withdrawal of Iranian administration of the strategic waterway.
The repeated Ukrainian drone attacks on the Russian oil port of Ust-Luga have reduced its export activity to near-zero, according to data from maritime intelligence firm Windward.
From www.linkedin.com
Red Sea AWRP up after Houthi attack on Israel
Additional war risk premium (AWRP) rates in the Red Sea have risen after the Yemen-based militant Houthis attacked Israel at the weekend.
The Additional War Risk Premium for moving tankers across the Persian Gulf eased in the week ended March 27 as more ships crossed the risky waters of the Strait of Hormuz amid hopes that an agreement may eventually be reached to end the war in the Middle East, market participants said March 27.
Former bunker-trading magnate OK Lim (Lim Oon Kuin) has been hospitalized with breathing difficulties, just days ahead of the planned start of a long prison sentence for defrauding his bankers.
Maritime Legal Aid & Advocacy, a not-for-profit advocacy organization, is reporting that another captain has voluntarily relinquished his license, ending a Coast Guard administrative Suspension & Revocation proceeding stemming from allegations of sexual misconduct.
Prosecutors in Florida have charged the captain of a mini-tugboat with seaman's manslaughter in connection with a deadly collision that killed three young girls in Biscayne Bay last year.
Concern continues for the estimated 20,000 seafarers trapped in the Persian Gulf on as many as 2,000 to 3,000 ships in total.
An Iranian-flagged dhow, which was hijacked by suspected Somali pirates, has been located and isolated, according to a report from the European Naval Force Operation in the region, Operation Atalanta.
From splash247.com
Ningbo Ocean Shipping Co (NBOSCO) is continuing its containership fleet expansion with a fresh newbuilding plan.
From splash247.com
Fugro has secured a role on Brazil’s first offshore wind project to move forward under a formal environmental licensing process, taking on geotechnical work for Petrobras’ Rio de Janeiro offshore wind pilot.
From splash247.com
Malta’s Polidano Group is stepping further into shipping, placing an order for two small cargo vessels at Dutch builder Damen Shipyards.
From splash247.com
Rapidly expanding Greek owner Venergy Maritime is stepping up its tanker newbuilding drive, firming up options for two more MR product tankers at South Korea’s K Shipbuilding.
From splash247.com
South Korea’s Pan Ocean has added another VLCC to its orderbook, continuing a steady push into the crude tanker segment.
From www.world-grain.com
FAS: Production forecast to reach 19.68 million tonnes on stable planted area
From www.world-grain.com
Company plans multimillion-dollar investment in Port Klang
From www.world-grain.com
Becomes first flour company to receive the distinction
From www.world-grain.com
Combines project management, design and manufacturing of storage systems
From www.linkedin.com
The Handysize market continues to soften, with the Atlantic clearly driving the negative sentiment. What stands out is the divergence between regions — while the Atlantic remains under pressure, the
According to Anjan Kumar Mishra, Secretary of the Petroleum and Natural Gas Regulatory Board, India's crude oil reserves can only sustain for 20 to 40 days.
The surge is linked to the ongoing conflict with Iran. Crude oil costs have risen sharply. This is impacting household budgets and businesses across the nation.
