Baltic Exchange weekly market report
TEXT THE BALTIC Dry Index rounded off last week at 1324, slightly up on the previous two weeks, but down from a high on Wednesday of 1355. The Baltic Dry Index for the week ending...
Air cargo capacity and demand down ahead of peak-season boost
THE INTERNATIONAL Air Transport Association has reported its first year-on-year air cargo capacity contraction since April 2022. IATA’s data for October 2022 indicates capacity...
40 years of UNCLOS marked at IMO headquarters
THE LINKAGES between the United Nations Convention on the Law of the Sea (UNCLOS) and IMO were explored during an event held on 28 November at IMO Headquarters to mark 40 years...
Freight rates continue decline
LONG-term ocean freight rates suffered a steep month-on-month decline in November as subdued spot prices, weak demand, and ongoing economic uncertainty caught up with contracted...
Container shipping market on track to normalisation, analyst says
THE LATEST shipping market overview and outlook from BIMCO indicates the container market is on track to normalisation. Shipping association BIMCO publishes shipping market...
Maersk and IBM to discontinue TradeLens
MAERSK and IBM are discontinuing global trade platform TradeLens. Technology corporation IBM and Maersk division GTD Solution developed the blockchain-enabled platform in 2018. By...
UNCTAD calls for greater investment in ports and shipping
THE UNITED Nations Conference on Trade and Development is calling for greater investment in ports, shipping fleets and landside logistics. UNCTAD explored issues in the maritime...
Ammonia-fuelled bulker gains approval in principle
CLASSNK has issued an Approval in Principle for an ammonia-fuelled 200,000-DWT bulk carrier. The vessel was jointly developed by Itochu Corporation, Nihon Shipyard, Mitsui E&S...
MSC takes delivery of aircraft
MSC has taken delivery of a new B777-200 freighter. The aircraft is the first MSC-branded plane and it will fly on routes between China, the US, Mexico and Europe, operated by...
Resolutions adopted for piracy repression code
SIGNATORIES to the Jeddah Amendment, a code focussed on preventing piracy, have agreed on next steps to enhance implementation of the code. The Jeddah Amendment to the Djibouti...
CMA CGM Q3 results show slowdown in profits
CMA CGM reported a slowdown in revenue and profit growth over the third quarter of 2022. The company said the quarter was “shaped by persistent geopolitical tensions” and...
North P&I Club to increase premiums for 2023-24
NORTH P&I Club has signalled its intention to apply a 10% general increase in 2023-24 premium rates amid swirling economic uncertainty and mounting inflationary pressures. The...
Baltic Exchange Market Report
THE BALTIC Dry Index ended last week on an increase. Friday’s BDI was 1324, up from the previous Monday’s 1177. A week on the up: the Baltic Dry Index for the week ending 25...
Gard and decarbonisation centre partner to de-risk uptake of technology
THE GLOBAL Centre for Maritime Decarbonisation and insurer Gard have signed an impact partnership agreement, committing to a five-year collaboration to accelerate decarbonisation...
World Container Index drops again
DREWRY’S composite World Container Index has decreased by 7% to US$2404.46 per 40-foot container. This is the 39th consecutive weekly decrease, this week’s figures marking a 74%...
