The week in bulk: BDI falls, headwinds in Capesize and Panamax markets
THE Baltic Dry Index fell off a bit of a cliff last week, with a precipitous decline over the five days to Friday. The BDI was 2681 on Friday (27 May), which is a decrease of 20%...
Quad leaders agree on new maritime domain awareness initiative
AT the recent meeting of the Quadrilateral Security Dialogue, the leaders of Australia, India, Japan and the US agreed to establish a new maritime domain awareness initiative...
IMO working group finalises GHG intensity measures guidance
THE International Maritime Organization’s GHG Working Group has finalised guidelines to support implementation of carbon intensity measures. The 12th session of the Intersessional...
All Aboard Alliance launched to foster equity and inclusion in maritime
MARITIME industry leaders have formed a new alliance aimed at creating a more diverse, equitable and inclusive maritime environment on shore and at sea. The All Aboard Alliance...
Rio Tinto and BP partner on marine biofuel trial voyage
RIO Tinto and BP have agreed to work together on a one-year biofuel trial to help reduce carbon emissions from Rio Tinto’s marine fleet. BP will supply Rio Tinto with marine...
Logistics company buys schooner to transport coffee
COSTA Rica-based logistics company Sailcargo has bought the 111-year-old wooden schooner Vega Gamleby to transport cargo between Colombia and the US. The Swedish-flagged vessel is...
Aussie company moving ahead with hydrogen export vessels and port design
ASX-listed Provaris Energy has announced a package for a new compressed hydrogen carrier is expected to be complete in June, with approval for construction of the vessel expected...
Shipowners and unions agree new three-year minimum wage for seafarers
SEAFARERS’ unions and shipowners have agreed on a new three-year global minimum wage deal to safeguard financial stability for seafarers. The maritime transport sector is...
Survey highlights gender imbalance in maritime sub-sectors
A REPORT from the International Maritime Organization and the Women’s International Shipping & Trading Association has found women account for only 29% of the overall maritime...
Colossal amount of renewable energy is required to decarbonise shipping
NEW data has revealed how the global shipping industry will require the equivalent of the world’s entire current renewable energy demand in order to replace fossil fuel use....
CMA CGM makes big foray into air cargo with partnership
The Air France-KLM Group and CMA CGM on Wednesday signed a partnership deal that the two companies say will combine their complementary cargo networks. Under the 10-year agreement...
Shipping industry agrees on MLC amendments to improve life at sea
THE MARITIME Labour Convention 2006 may soon be amended to improve the living and working conditions of the global seafaring workforce. The International Labour Organization...
Unions "disappointed" by apparent shortcomings of MLC updates
SEAFARERS’ unions have expressed disappointment over an update to the Maritime Labour Convention 2006 following the recent announcement of eight amendments agreed on by industry....
IMO adopts guidelines against wildlife smuggling
THE INTERNATIONAL Maritime Organization has reportedly adopted new guidelines to combat criminal networks exploiting maritime supply chains to traffic wildlife. According to...
Teekay’s profits down, but revenues up in the past quarter
TEEKAY’s quarterly results for the three months to 31 March were down slightly on the prior quarter, but its tanker business saw an uptick in revenues due to higher tanker spot...
