Yearly Archives: 2024
Baltic Index Records Sharpest Annual Decline Since 2014
The Baltic Exchange Dry Bulk Index declined by 52.5% in 2024, its worst performance since 2014.
All vessel categories, including capesize, panamax, and...
Finnish Authorities Investigate Suspected Sabotage in Baltic Sea
Anchor Damage Likely Cause of Undersea Power Cable and Internet Outages.
Power and Internet Infrastructure Severed After Baltic Sea Incident.
International Allies Offer...
Iranian Crude Oil Prices Hit Multi-Year High Amid Tightened Sanctions
Independent Chinese Refiners Struggle with Rising Oil Costs.
Discounts on Iranian Crude Narrow as Sanctions Tighten.
Geopolitical Tensions Drive Up Iranian Oil Prices.
Iran's...
Fujairah Oil Stocks Reach Three-Month High
Refined oil product inventories at the UAE's Port of Fujairah increased by 4.7% in the week ending December 23rd, indicating a potential annual gain....
Geopolitical Tensions And Overcapacity Impact Shipping Market
The global freight market is facing significant challenges due to geopolitical tensions. The ongoing US-China trade war, the Russia-Ukraine conflict, and instability in the...
Why NASA’s Sun-Touching Spacecraft Remains Out Of Contact
NASA's Parker Solar Probe, which made history by reaching its closest approach to the Sun on December 24th, was out of contact on Christmas...
Chinese Shipbuilding Giant Delivers Record-Breaking Self-Propelled Deck Vessel
A Chinese self-propelled deck vessel with a carrying capacity of 58,000 tonnes has successfully completed sea trials and has been declared seaworthy. This vessel...
Shipbuilding Industry Faces Capacity Crunch Amidst High Demand
The surge in new vessel orders is straining the shipbuilding industry's capacity to meet demand. This high level of shipbuilding activity is reminiscent of...
Crude Tanker Market Outlook For 2025
The crude tanker market is poised for an intriguing year in 2025, with key trends favouring larger vessels like VLCCs (Very Large Crude Carriers)...
Samsung Heavy Industries Secures Major Contract For Ultra-Large Ethane Carriers
Samsung Heavy Industries (SHI) announced a significant contract to build three ultra-large ethane carriers (VLECs) for an Asian shipowner. The contract, valued at 742.2...