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The Inter-American Tropical Tuna Commission (IATTC) held a special session on Dec. 22 and agreed to a rollover of its existing quotas for tropical tuna in the eastern Pacific for 2021. The decision comes after the commission failed to reach a consensus on the management of tropical tunas at its annual meeting earlier this month […]

After an inconclusive meeting last week at the International Maritime Organization (IMO), ship owners still have to contemplate their future plans in the fuels arena. “This week the IMO agreed short term measures to address climate change. For many, it was felt that these measures lacked the ambition needed to reach the IMO’s goal of

As predicted, the ongoing COVID-19 pandemic is driving up the cost for crew changes. With airfare costs on the rise and quarantine restrictions in place, it is likely to keep rising too. According to Henrik Jensen, the managing director of Danica Crewing Specialists, each seafarer\’s crew change is now in the range of $2,000, or

As major shipping companies prepare to release their Q3 results, there are very few alarm bells ringing that the industry is suffering any great impact from the ongoing COVID-19 pandemic. Global container trade was up 2.7% in the July-September period, compared with the year-earlier period. The year-to-date volume is just 3% behind the equivalent period

High uncertainties regarding COVID-19 and the economic recovery continue to weigh on the fuel market and global bunker prices. The world still has a lot of excess crude and oil product stocks to process as a result of the pandemic. Due to the excess stock, the 380 HSFO index fell from 297.23 to 296.38 USD/

While some of the world’s largest cruise lines are already back in service following the COVID-19 pandemic, some are planning their return to service for the near future. Below is a list detailing when each of the major cruise lines are expected to return to sea: Carnival Cruise Line Carnival Cruise Line has officially cancelled

Crude Oil Price Movements After four consecutive months of gain, spot crude prices settled significantly lower in September. The OPEC Reference Basket (ORB) fell by $3.65, to $41.54/b, while the year-to-date averaged $40.62/b. Crude oil futures prices on both sides of the Atlantic declined during September, for the first time since April. ICE Brent averaged

Despite the ongoing COVID-19 pandemic, incoming cargo to the Port of Los Angeles is surging as businesses and retailers prepare for an early holiday season. In September, workers unloaded 471,795 20-foot equivalent units (TEU) of imports. This marks a 17% increase compared to the year earlier. Gene Seroka, executive director of the Port of Los

While it was originally expected that the shipping industry would be affected by COVID-19 for months, German container shipping firm Hapag-Lloyd is benefitting from a rebound in transport demand. However, chief executive Rolf Habben Jansen has warned about the longer-term impact on economic activity from the Coronavirus. He believes that the current recovery, which began

An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand around the globe. In recent months, the strength of the recovery in major Chinese imports have been strong enough to make up for lower activity in the rest of the world, with all ship sizes above their