P&I Claims: Wet Cargo Damage Due To Hatch Cover Leaks
Over 40% of all P&I claims are due to damaged cargo caused by water ingress from hatch covers.
Even the smallest leak can...
OPEC Reduces 2020 Crude Demand by 2.23 Million BDP
Price of a barrel has dropped -0.93% from a high of $26.94 bbls to a low of $25.27 bbls.
OPEC members are scrambling...
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...
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...
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...
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...
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...
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...
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...
[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...
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