The swift reintroduction of international travel bans to stem the spread of the Omicron variant of COVID-19 has derailed the already faltering turnaround in rates and earnings for the global tanker market. In November it looked like a cold winter and r…
Tanker market sails into 2022 headwinds Read More »
A.P. Moller – Maersk (Maersk) announces new aspiring emissions targets expected to align the company with the Net Zero criteria of the Science Based Targets initiative (SBTi) pathway to limit global warming to 1.5°C. They include a societal commi…
The ship recycling market has started 2022, right where it left 2021, i.e. in a constant “hunger” for more tonnage. In its latest weekly report, shipbroker Clarkson Platou Hellas noted that “as we enter the New Year, activity in the market has continue…
Lack of Tonnage Still Plagues Ship Recycling Market Read More »
Containers are now moving in and out of China at record speeds as shippers desperately source capacity, but port congestion in Europe and the US continues to slow the return of boxes to Asia and is stymying the recovery of global ocean supply chains. A…
The Freightos Baltic Global index remained stable to end the year, increasing just 1% in December to $9,43/FEU, though rates are still 179% higher than a year ago and more than 6X the pre-pandemic norm. In this year’s version of the post-peak season an…
FBX Index December: Market Summary Read More »