Tanker freight rates for shipping Urals crude from Russia’s western ports to India rose further in late September and early October, tracking a sharp increase in loadings last month, industry sources said. Indian refiners continue to buy Russian oil despite punitive U.S. tariffs on goods imported from India after it defied a demand for it …
As the inflationary pressures on freight rates—stemming from Red Sea disruptions, front-loading and tariff-related issues—begin to ease, shippers are likely to negotiate more favourable contract rates and improved terms with carriers and forwarders for 2026. The Drewry East-West Contract Rate Index – an average of contract rates paid by over 100 multinational shippers on 17 …
The FuelEU Maritime regulations aim to reduce greenhouse gas intensity of marine fuels through progressively stricter limits. Starting with a 2% reduction in 2025, the regulation targets an 80% reduction by 2050 compared to 2020 levels. Ships exceeding GHG intensity limits face penalties of €2,400 per tonne of fuel consumed in excess. Read on to learn …
FuelEU Maritime: a catalyst for bio-LNG market growth Read More »
Marine battery manufacturer AYK Energy has won a groundbreaking contract to power the world’s first fully electric intercontinental fast ferries between Europe and Africa. Spanish ferry operator Baleària will operate the two catamaran ferries solely on electric propulsion throughout the 18-mile voyage between Tarifa in the south of Spain and Tangier, Morocco at speeds of …
Mitsui O.S.K. Lines, Ltd. announced that on October 6, it conducted a tabletop drill based on a simulation of a marine accident involving a cargo transfer vessel (CTV, Note 1) owned by SeaLoading Holding AS (SeaLoading; CEO: Yoshiaki Kubo), an MOL group company. During the drill, MOL confirmed emergency coordination with its group company based …
The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, edged up on Tuesday, supported by higher capesize and panamax vessel rates. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 15 points to 1,947 points. The capesize index rose 57 points …
Baltic Edges Up On Stronger Capesize And Panamax Vessel Rates Read More »
Experts advising Pacific states at the International Maritime Organization (IMO) warn that biofuels are not a long-term solution for decarbonising shipping, highlighting threats to food security, supply constraints, and rising costs for vulnerable economies. Micronesian Center for Sustainable Transport technical advisers stress that the shipping industry risks locking itself into unsustainable pathways if biofuels are …
Experts warn biofuels not a long-term solution for shipping Read More »
Asia’s spot differential for very low sulphur fuel oil (VLSFO) softened back into a discount as of Tuesday, as competitive offers weighed on the market for prompt loading dates. The differential held in thin premiums over cargo benchmark quotes for a week before sliding back into discounts. Meanwhile, Asia’s high sulphur fuel oil (HSFO) market …
VLSFO returns to discount on prompt market weakness Read More »
SEA-LNG, the coalition supporting the methane decarbonisation pathway, today underlined recent progress made in reducing greenhouse gas (GHG) emissions from LNG as a marine fuel, the developments in bunkering of liquefied biomethane and the exponential growth of LNG-powered shipping. In the last 6 years SEA-LNG Members have been instrumental in the global growth of the …
SEA-LNG highlights LNG’s growth and lower GHG emissions ahead of MEPC Read More »
Singapore and Malaysia Despite “slow” bunker demand in Singapore, VLSFO availability has tightened, with lead times increasing from 7–10 days last week, to 8–14 days now. HSFO and LSMGO require lead times of around 6–10 days, compared to last week’s 8–10 days and 4–8 days, respectively. The port’s residual fuel oil stocks averaged 2% lower …
ENGINE: East of Suez Bunker Fuel Availability Outlook Read More »
