News

The maritime industry is largely aware of the dangers of lithium-ion (Li-ion) battery fires in confined shipboard environments, and especially aboard car carriers and containerships transporting electric vehicles (EVs). Less widely acknowledged is that fact that the hazards posed by the larger Li-ion batteries in electric cars, trucks and scooters also apply to the smaller …

The seaborne tanker market could be headed for yet another shift in crude oil flows, which could also have an impact on freight rates. In its latest weekly report, shipbroker Gibson said that “earlier this week, President Trump announced that the United States and India had agreed a trade deal. Whilst the deal is not …

Capesize The market endured a broadly softer week, with sentiment cooling across both the Pacific and Atlantic as the BCI 182 5TC slid from the low $31,000s to finish closer to $26,468. Early optimism in the Pacific, driven by miner presence and steady West Australia volumes, ultimately failed to prevent rates from retreating. C5 corrected …

The global tanker market opened 2026 hitting new highs. While dirty tanker rates continue their upward trajectory, mid-size crude tankers lead market gains, even as total crude and dirty petroleum product flows declined by approximately 2 million barrels per day in January compared to November. This market reconfiguration stems from three developments: Venezuela’s effective removal …

The ship recycling markets have shown mixed behaviour over the course of the past week. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the Indian market remained positive this week, supported by the USD easing sharply from recent highs following the US–India trade deal, alongside India signing …

The average VLCC ballast speed in the AG area is now edging toward the upper range of 11.9, which aligns with the upward trend in TD3C rates. Amid rising Middle East tensions and geopolitical shifts, TD3C was indicating a soft downward trend into Friday’s close in the previous week, but the move proved short-lived, with …

The IMO Secretariat has submitted a summarised report on the data collected in 2024 through the IMO Data Collection System (DCS). This data will be reviewed by the MEPC during its next session in April 2026. Drewry’s Energy Transition team closely tracked this verified data to assess the industry’s progress. Trends in fuel consumption Annual …

US LNG exports rose significantly during 2025, with EU importing the most. In its latest weekly report, shipbroker Banchero Costa said that “global seaborne LNG trade grew sharply until 2022, then almost flatlined in 2023-2024, rebounding strongly in 2025 to record levels. In Jan-Dec 2023, global shipments of LNG increased by just +1.4% y-o-y to …

One of the quieter but more consequential themes to emerge from conversations in Davos this year was not any single policy proposal or statement, but a shared recognition that the architecture of global cooperation is changing. The language of “multilateralism” was present throughout the week, but often with an undertone of uncertainty. BIMCO does not …

With a new year comes new regulatory changes. For the maritime industry, this year’s changes focus heavily on operational safety, introducing more stringent standards for fire-fighting equipment, life-saving appliances, cargo securing, and winch operations. The industry is also prioritizing social welfare by strengthening mandatory crew training on harassment and assault prevention. Complementing these safety and …