TANKER RATES EDGE UPWARDS BUT UNCERTAINTIES REMAIN Brokers noted a number of off-market deals agreed during Bahri Week in Dubai and the signs, for the moment, are broadly positive. Private deals agreed in Dubai last week moved rates upwards in owners’ favour with earnings on most routes in positive territory, according to reports. Brokers noted […]

STRETCHED AND INSECURE SUPPLY CHAINS HURT THE POOREST NATIONS MOST Extended supply chains are increasing shipping costs and are having a “profound impact” on global energy and food supplies as well as the global economy according to the United Nations Conference on Trade and Development (UNCTAD)’s latest maritime review. The Review of Maritime Transport 2024 […]

ONE IN THREE BALLAST WATER SYSTEMS FAIL TO MAKE THE GRADE About a third of all ballast water management systems (BWMS) are failing to meet Port State Control requirements by a wide margin despite having successfully passed commissioning tests after installation. Shocking figures revealed by Global TestNet, an association of testing organisations set up in […]

HO CHI MINH CITY SETS GOAL TO BECOME A REGIONAL LOGISTICS HUB Ho Chi Minh City aims to become a leading logistics hub in Southeast Asia by 2030, positioning the industry as a core driver of the local economy while actively participating in the global supply chain. The city is focusing on developing logistics infrastructure, […]

WHY ARE PORTS CONGESTED? SHIPPING LINES BLAME… THEMSELVES Lloyd’s List – Speaking at an international maritime industry conference, CMA-CGM executives attributed increasing port congestion to the rising number of ultra-large container ships. They explained that this has strained port operations, necessitating new operating models for both shipping lines and ports. Experts from consultancy Linerlytica pointed […]

FLEET SHRINKS, VOSCO PLANS TO BUILD NEW SHIPS Vietnam’s “big brother” in maritime transport, Vosco, plans to invest in building new oil tankers and bulk carriers after years of being unable to acquire new vessels. According to its latest report, Vosco has proposed purchasing two Supramax bulk carriers and constructing three new MR product tankers […]

TANKER SHIPPING COMPANIES “THRIVE” By the end of Q3 2024, many tanker shipping companies reported positive business results. Pacific Petroleum Transportation Joint Stock Company (PVTrans Pacific) recorded a 36% decline in revenue year-on-year, reaching over VND 359 billion, but after-tax profit rose by 23.2% to VND 68.9 billion. For the first nine months of 2024, […]

CONTAINER LINES GET SURPRISE BOOST IN SPOT RATE BLIP Spot freight rates on the Asia to Europe trades showed a minor increase as European shippers enter into contract negotiations with the carriers.   As spot rates move upwards analysts are encouraging shippers not to be “spooked” by November general rate increases (GRIs). Drewry Shipping Consultant’s […]

BALLAST WATER RECORD-KEEPING AND REPORTING REQUIREMENTS – UPCOMING CHANGES Starting in 2025, two IMO resolutions come into effect specifying a new format for the ballast water record book (BWRB) and mandating approval of electronic BWRBs when replacing hard copy versions on board vessels. More about these new requirements for ballast water record-keeping and reporting in […]

BINH DINH PROPOSES PLANNING PHU MY PORT TO ACCOMMODATE SHIPS UP TO 150,000 TONS The People’s Committee of Binh Dinh Province has proposed that the Ministry of Transport (MOT) adjust the planning for the Phu My port area. According to the plan approved by the Prime Minister, Binh Dinh Port is classified as a Type […]