Hurricane Ida made landfall in Louisiana on Sunday as an extremely dangerous Category 4 storm, forcing those who did not flee to brace themselves for the toughest test yet of the billions of dollars spent on levee upgrades following Hurricane Katrina 1…
Hurricane Ida Makes Landfall Near Port Fourchon, Louisiana Read More »
Energy firms on Sunday had suspended 1.74 million barrels per day of oil production in the U.S. Gulf of Mexico, according to the Bureau of Safety and Environmental Enforcement (BSEE), as Hurricane Ida slammed into the Louisiana coast as a Category…
Hurricane Ida Shuts 96% of U.S. Gulf of Mexico Crude Output Read More »
Despite elevated ldt prices for ship scrapping, vintage tanker tonnage and more particularly VLCCs, have remained far from the scrapyards so far in 2021, adding to the supply side of a lackluster tanker market. In its latest weekly report, shipbroker G…
Just Five Older VLCCs Have Been Scrapped During 2021 Read More »
Capesize Both the overall index and 5 time charter (5TC) average climbed back to positive territory at the end of the week after a mid-week decline. BCI closed the week at 6162, which is slightly higher than the Monday opening at 6114. The 5TC recorded…
Dry Bulk Market: Capesizes Ends the Week on a High Read More »
The recent incident to “mega” container vessel, Ever Given in the Suez Canal highlighted the impact one break in the supply chain can mean to global trade. The Ever Given’s 20,388 TEU (20-foot equivalent unit) capacity and cargo remai…
Sailing Stormy Waters: Mega Containerships Read More »