Freightos Baltic Container Report – Week 3, 2019
General Rates Increases (GRIs) net impact was a 4% week on week rise for both lanes.
China-West Coast went up from $2,031 to $2,110, and China-East Cost went up from $3,171 to $3,292.
GRIs...
ExxonMobil Signs Preliminary Wilhelmshaven LNG Deal – Uniper
ExxonMobil to take a substantial share of the re-gasification capacity at an LNG floating terminal.
LNG companies may now deliver LNG into the German and European markets.
The German government may diversify away...
Fuel Sulfur Limits to Put Upward Pressure on Diesel Margins
January 2020 will see 2.5% reduction on the allowed marine fuel sulfur limit used by ocean-going vessels.
Resulting price effects post implementation will be most acute in 2020, starting in late 2019 and...
Smoking on Cruise Ship Could Cost You $500
Passengers, onboard the Carnival cruise ship to be fined $500 for smoking on the balcony.
Passengers have been advised to smoke only in designated areas onboard the vessel.
If the rule is violated the passenger will be...
Polaris CEO’s Arrest Warrant Rejected Over Stellar Daisy Sinking
According to World Maritime News, an arrest warrant issued against the CEO of South Korean shipping company Polaris Shipping has been rejected over the sinking of the Stellar Daisy.
Warrant rejected
An arrest warrant was requested against Kim...
Britannia P&I Granted Underwriting License in Hong Kong
Britannia P&I has been granted a license by Hong Kong’s Insurance Authority to underwrite business from its Hong Kong office.
The license has been granted to support the local marine insurance sector.
Hong Kong office will...
Unmanned Ships For Maritime Trade : A Question of ‘When’ Not ‘If’
Across the world, autonomous ships are emerging as the future of commercial maritime trade
In the next 15 years, a unanimous worldwide effort may be seen towards building autonomous ships.
Auto-Ships are expected...
Shipping Rates Slow Down As Raw Materials Demand Hit
In a major backlash, freight rates for dry-bulk and container ships, carriers of most of the world's raw materials and finished goods, have plunged over the last six months in the latest sign the...
D’Amico: Sale and Leaseback of New 75,000 dwt LR1 Product Tanker
D’Amico International Shipping will be chartering the MT Cielo di Houston for sale and leaseback.
This vessel is under construction at Hyundai-Mipo and sold at a consideration of US$ 38.6 million.
At the...
Performing a Downstreaming Maneuver in High-Water Condition Sinks Vessel
About 0752 local time on April 19, 2016, the towing vessel Ricky J Leboeuf capsized and later sank while its crew tried to remove a barge from a fleeting area in the San Jacinto...