Baltic Exchange weekly market report
THE BALTIC Dry Index ended on 602 on Friday (10 February), down from 621 a week earlier. The sharp decline that started in late December appears to be softening. The Baltic Dry...
Maersk reports colossal 2022 profits and a big decrease in 2023
MAERSK expects the global ocean container market to decrease by up to 2.5% in 2023, according to its financial report for 2022. The company expects its underlying EBITDA for 2023...
Piracy still a risk in Western Indian Ocean, IMO warns
THE INTERNATIONAL Maritime Organization is urging the shipping industry to stay alert to piracy in the Western Indian Ocean. The IMO and EU Naval Force Operation (EUNAVFOR)...
Wärtsilä finishes “industry-first” retrofit
WÄRTSILÄ has completed what it said was the maritime “industry’s first-ever shaft generator retrofit”. Wärtsilä retrofitted an inline shaft generator on Berge Toubkal, a cape-size...
Increase in schedule reliability softens
THE RAPID increase in global schedule reliability toward the end of 2022 has abated, according to shipping analyst Sea-Intelligence. Sea-Intelligence’s latest Global Liner...
IMO calls for industry views on GISIS
THE INTERNATIONAL Maritime Organization Secretariat is calling on users of the Global Integrated Shipping Information System to participate in a survey. The IMO is looking for...
Containers burn at Turkish port after devastating earthquake
A DEVASTATING earthquake has toppled containers and halted operations at ports on Turkey’s eastern Mediterranean coast. At the time of writing, the death toll from the...
WSM enters joint venture for emissions reporting and trading
WILHELMSEN Ship Management is launching a joint venture company with independent shipbroker Affinity Shipping. The new company will aim to help shipowners and operators understand...
Air cargo performance declines in 2022
AIR cargo demand in 2022 took “a significant step back” from 2021 levels and was close to 2019 performance, the International Air Transport Association has found. The latest air...
Coal demand high, set to decrease: IEA
GLOBAL coal use rose 1.2% in 2022, going beyond 8 billion tonnes in a single year for the first time, according to a report, Coal 2022, from the International Energy Agency. The...
Freight volumes drop at DSV while profits rise
DANISH logistics giant DSV has reported a decline in transport volumes in the second half of 2022, but profits have increased. The company said it delivered strong results in...
Baltic Exchange weekly market report
THE BALTIC Dry Index hit yet another nadir on Friday (3 February) when the index was 621. This was a decrease of 8% on the previous Friday and a decrease of 50% on one month ago...
Last B 747-8 freighter rolls off the line
APEX Logistics, a subsidiary of Kuehne+Nagel, has taken delivery the last Boeing 747-8 freighter as part of a long-term charter agreement with Atlas Air. After a half-century...
Seafarer happiness on the up in 2022: report
THE LATEST Seafarers Happiness Index report reveals average seafarer happiness levels in the last quarter of 2022 reached 7.69/10, up from 7.3, with levels rising across almost...
ONE reports “significant deterioration” in profits
OCEAN Network Express has reported a decline in profits in the third quarter of the 2022 financial year. It said its quarterly profit of US$2.77 billion was a “significant...
