Global Piracy on The Rise, COVID-19 Can Worsen It Further!
Armed robbers regularly attack ships in and around the port of Guayaquil.
Handling most of Ecuador’s agricultural and industrial imports and exports
Ships moored along port’s quays or narrow river passages are easy...
Capes Lose 10,000 A Day This Year With Mounting Losses
Capes ducked below $2,000 a day with losses mounting.
Average every cape trading has lost around $1.35m so far in 2020.
Freight rates must hit $15,300 per day for an average Capesize to...
Container Import on A Roller Coaster Ride Due To COVID-19
U.S. container imports plunged after the initial coronavirus outbreak and improved later.
It sank again after social-distancing rules shut down U.S. businesses.
Container carriers were forced to carry out blanked or canceled sailings.
...
Container Market Up for 25% Volume Slump, Warns Maersk
In a major development, the world’s largest container line, Maersk is bracing for a historic slump in demand after emergency lockdowns across the globe left international trade in tatters, says article published in Transport...
Optimizing Fleet Operation & Cost Cutting Efforts Key To Enhanced Profitability in COVID19!
According to a LoadStar report, South Korean carrier HMM reported a $55m net loss for the first quarter – a dramatic 63.2% improvement on the $149m it lost in the same period last year.
Cost...
US Crude Contract Expiry Looms, A Month After Negative Oil Price!
According to a Reuters report, a month after sellers had to pay nearly $40 a barrel to get rid of U.S. oil futures, the next watershed moment looms with the expiry of the June...
Asia-Europe Capacity Crunch Pushes Carriers To Increase Freight Rates!
According to a LoadStar article written by Mike Wackett, CMA CGM has announced a $300 increase in FAK rates from Asia to North Europe and the Mediterranean, to $2,000 per 40ft, from 1 June.
Other...
[Watch] First Successful COVID19 Antibodies Production in Vaccine Trials!
In a major development in COVID19 Vaccine trials, Volunteers who received Moderna's Covid-19 vaccine had positive early results, according to the biotech company, which partnered with the National Institutes of Health to develop the...
Weekly Tanker Report – Week 20, 2020
The Baltic Briefing has issued the tanker report for the 20th week of this year. The report dated 15th May 2020 provides a valuable insight into this week's tanker market dealings, freight rates, and...
d’Amico Inks Sale Deal Generating Net Cash of US$ 8.8 million
d'Amico International Shipping S.A. announces its memorandum of agreement for the sale of one of its handysize vessels, generating around US$ 8.8 million in cash, reads a press release published on their website.
What is...