Baltic Exchange weekly report
THE BALTIC Dry Index declined each day this past week, landing at 2196 on Friday 22 March. The Baltic Dry Index for the week ending Friday 22 March 2024. Source: Baltic Exchange...
OOCL joins the deep divers
HONG Kong’s Orient Overseas Container Line has become the latest carrier to reveal the quantum of the 2023 downturn in freight rates, revenues and profitability. Parent company...
World Container Index continues downward trend
DREWRY’S World Container Index decreased by 5% this past week to US$3010 per 40-foot container. The latest WCI is 112% higher than average 2019 (pre-pandemic) rates of US$1420....
Red Sea, Gulf of Aden declared Warlike Operations Area
THE INTERNATIONAL Bargaining Forum has designated the Red Sea and Gulf of Aden a Warlike Operations Area following the deaths of three seafarers in the region earlier this month....
Austal wins another from repeat customer
TAHITI-BASED Degage Group has returned to shipbuilder Austal for a new ro-pax for French Polynesia service, to be constructed at the WA company’s Vietnam yard in Vũng Tàu. To be...
Kimberley becomes Engaged
ENGAGE Marine has won a contract to operate transhipment operations for Kimberley Metals Group at Wyndham in far northwest Australia. KMG is reactivating iron ore production,...
Hyperbaric chamber boosts Aust subsea sector
AUSTRALIA'S first hyperbaric chamber testing facility has opened at the Australian Marine Complex at Henderson, WA, jointly funded by industry and the state government. It is...
Reefer trades resuming normal temperature
GLOBAL reefer trades should obtain a degree of normality in 2024, according to the annual review of the market by independent Dutch consultancy Dynamar. In its Reefer Analysis -...
Japanese CO2 could be headed our way
AN AGREEMENT signed in Houston, USA on Monday [18 March] could see carbon dioxide shipped from Japan to Australia for placement in greenhouse gas storage facilities. JX Nippon Oil...
Half-year profit up 40% at NZ port
PORT Otago has announced a half-year profit of NZ$13 million for the six months ended December 2023, up 40% on the same six months in 2022. Container volumes increased by 51% to...
Pilbara Ports trade dips in February
PILBARA Ports handled 52.7 million tonnes of cargo in February 2024. The latest monthly throughput figures were down 4% compared with February 2023. The Port of Port Hedland...
Friends of the Earth claims rigged, Esso says
ESSO Australia has issued a detailed rebuttal of claims by Friends of the Earth that is threatening the marine environment by short-cutting the decommissioning of Bass Strait oil...
Revised EU Customs requirements looming
AUSTRALIAN companies exporting to the European Union face added data requirements from June, as part of the upcoming third release of the EU’s Import Control System 2 (ICS2). In a...
IMO to open Pacific regional office
THE INTERNATIONAL Maritime Organization is opening a regional office in Fiji to serve Pacific member states, including Australia and New Zealand. The Suva office would be the...
New NZ coastal service nears realisation
A WEST Coast South Island company is about to launch a new barge-based bulk distribution and transhipment operation, partly funded under the coastal shipping initiative of NZ’s...
