In the final week of October, crude freight rates on the VLCC MEG-China route witnessed a decline, accompanied by a noticeable uptick in the number of vessels at the VLCC Ras Tanura port. This occurred amidst persistent challenges in the oil industry, …
In an unexpectedly lenient move, the US announced last week that sanctions against companies trading in Venezuelan oil will be dropped. This provides an opportunity for a reshuffling of oil movements, particularly in the Atlantic basin, and with that c…
Sanctions no more: A new era for the tanker market? Read More »
Container ships have reached their highest average age yet at 14.2 years, the highest average age of the three main shipping sectors. The dry bulk fleet has an average age of 11.9 years whereas tankers on average are 12.8 years old. The average age of …
Container ships reach highest average age on record of 14.2 years Read More »
The last week of October witnessed a downward trend in the Capesize freight market momentum, while the smaller vessel segments experienced a relative flat momentum. Meanwhile, the grain flows from Brazil to China with the Panamax vessel class recorded …
Industry leaders have been told achieving environmental targets in ocean freight shipping requires major efforts and investments. The reminder came during the annual Xeneta Summit taking place in Amsterdam today, Wednesday, which sees key industry figu…