More disruptions due to COVID outbreaks and a possible early summit in this year’s peak season kept ocean rates extremely high though mostly level in August, with the Freightos Baltic Global index ending the month at $10,321/FEU. That is only a 1% mont…
FBX Index Now 430% Higher Than a Year Ago, Nearly Eight Times the Pre-Pandemic Norm Read More »
The 49.2 composite reading of the Caixin/Markit China manufacturing Purchasing Managers Index (PMI) in August marks the first contraction in activity since April 2020 when China was recovering from its initial COVID-19 outbreak. The recent rise in COVI…
BIMCO: China’s 49.2 manufacturing PMI indicates falling activity in August Read More »
VLSFO and LSMGO grades are widely available in Europe and Africa, while HSFO is in tight supply for prompt deliveries in certain ports this week. Low sulphur fuels are generally readily available for prompt deliveries in major ports across Europe and S…
ENGINE: Europe & Africa Bunker Fuel Availability Outlook Read More »
Today sees the launch of DNV, the world’s leading classification society’s latest Maritime Forecast to 2050, part of the Energy Transition Outlook (ETO) suite of reports. Conceived to help shipowners navigate the technologies and fuels needed to meet g…
DNV’s new ‘decarbonization stairway’ model helps shipowners navigate newbuild dilemmas Read More »
After another month of high demand, over-stretched infrastructure and difficult negotiations for shippers, long-term contracted ocean freight rates now stand 85.5% higher than at this point last year. Although August saw rates rise by a relatively mode…
Container Market: Rising Long-Term Rates And Port Congestion Compound Cargo Owner Woes Read More »