The ongoing Russia-Ukraine conflict has led investors to rush to safe-haven assets. They are selling assets with high price volatility such as equities, commodities, and high-yield bonds, preferring safer harbors such as gold acquisitions. The crisis’s effect on the shipping industry has been mixed: tanker, LNG and LPG shipping equities have trended up while other sectors have remained flat or declined, according
READ MORE
The Baltic Exchange’s dry bulk index rose 5.7% to 1,503 on Tuesday (Feb. 8), its highest since January 19th, amid strong demand across all its vessels segments. The index, which provides a benchmark for the price of moving the major raw materials by sea, is issued daily by the London-based Baltic Exchange and is a composite of three sub-indices that measure different sizes of
READ MORE
Luka Koper, the operator of Slovenia’s Port of Koper expects to end 2021 with 996 thousand TEUs handled, which represents a new historic record, the port operator said on Thursday (Dec. 30), On Wednesday (Dec. 29), the Container terminal of the Port of Koper beat the previous container throughput record of 988,501 TEUs set in 2018. “This is an important milestone, especially
READ MORE
Asia loses LNG flows to Europe, as an increasing number of US LNG cargoes are being sent to the Old Continent and the Atlantic basin to take advantage of wide premiums, Platts reported citing traders and market sources. The price spread between Asian and European spot prices nears $15/MMBtu. This week alone, at least five LNG cargoes headed to Asia were diverted
READ MORE
The top 10 publicly listed container shipping companies are on track for a record $115 billion to $120 billion in profit in 2021. The prediction is based on estimated Q4 earnings derived from company forecasts together with shipping intelligence provider Alphaliner estimates. “The 10 lines have already generated nearly $80 billion in EBIT in the first nine months of the year,” Alphaliner
READ MORE
The Baltic Exchange Dry Index dropped 4.3% to 2,769 on Thursday (Nov. 4), its lowest level in five months. The index which provides a benchmark for the price of moving the major raw materials by sea, extended losses for the 11th straight session, dragged by weaker rates across its vessel segments as demand wanes. The Baltic Dry Index (BDI) issued daily by
READ MORE
NYSE-listed Royal Caribbean Group’s ultra-luxury brand Silversea Cruises is set to launch the cruise industry’s first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port. The new class of ships, known as ‘Project Evolution,’ will operate using
READ MORE